KARVIN: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
KARVIN
Largest movements
- Cash +€49,281
up €49,281 (+103.0%), from €47,838 to €97,119
mainly Net result for the year (+€55,886) and Tax, wage and social debts (+€20,387)
- Deferred charges and accrued income +€9,870
up €9,870 (+119.9%), from €8,230 to €18,099
- Reserves +€55,886
up €55,886 (+270.4%), from €20,670 to €76,557
- Tax, wage and social debts +€20,387
up €20,387 (+196.1%), from €10,396 to €30,783
of which Taxes: +€21,587
- Trade debts -€8,440
down €8,440 (-75.5%), from €11,173 to €2,733
- Accrued charges and deferred income -€6,520
down €6,520 (-100.0%), from €6,520 to €0
- Gross operating margin +€50,703
up €50,703 (+175.3%), from €28,917 to €79,620
- Taxes +€14,690
up €14,690 (+213.0%), from €6,896 to €21,587
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,534 | €118,696 | +€60,162 | +102.8% |
| Fixed assets | 21/28 | €2,467 | €3,478 | +€1,011 | +41.0% |
| Tangible fixed assets | 22/27 | €2,467 | €3,478 | +€1,011 | +41.0% |
| Furniture and vehicles | 24 | €2,467 | €3,478 | +€1,011 | +41.0% |
| Current assets | 29/58 | €56,067 | €115,218 | +€59,151 | +105.5% |
| Cash at bank and in hand | 54/58 | €47,838 | €97,119 | +€49,281 | +103.0% |
| Deferred charges and accrued income | 490/1 | €8,230 | €18,099 | +€9,870 | +119.9% |
| Total equity and liabilities | 10/49 | €58,534 | €118,696 | +€60,162 | +102.8% |
| Equity | 10/15 | €23,170 | €79,057 | +€55,886 | +241.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €20,670 | €76,557 | +€55,886 | +270.4% |
| Distributable reserves | 133 | €20,670 | €76,557 | +€55,886 | +270.4% |
| Amounts payable | 17/49 | €35,364 | €39,639 | +€4,275 | +12.1% |
| Amounts payable within one year | 42/48 | €28,844 | €39,639 | +€10,795 | +37.4% |
| Trade debts | 44 | €11,173 | €2,733 | -€8,440 | -75.5% |
| Suppliers | 440/4 | €11,173 | €2,733 | -€8,440 | -75.5% |
| Taxes, remuneration and social security | 45 | €10,396 | €30,783 | +€20,387 | +196.1% |
| Taxes | 450/3 | €8,396 | €29,983 | +€21,587 | +257.1% |
| Remuneration and social security | 454/9 | €2,000 | €800 | -€1,200 | -60.0% |
| Other amounts payable | 47/48 | €7,274 | €6,123 | -€1,151 | -15.8% |
| Accrued charges and deferred income | 492/3 | €6,520 | €0 | -€6,520 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €686 | €1,222 | +€536 | +78.1% |
| Other operating charges | 640/8 | €396 | €436 | +€40 | +10.0% |
| Gross operating margin | 9900 | €28,917 | €79,620 | +€50,703 | +175.3% |
| Operating profit (loss) | 9901 | €27,835 | €77,962 | +€50,128 | +180.1% |
| Financial charges | 65/66B | €268 | €489 | +€221 | +82.4% |
| Recurring financial charges | 65 | €268 | €489 | +€221 | +82.4% |
| Profit (loss) for the period before taxes | 9903 | €27,566 | €77,473 | +€49,907 | +181.0% |
| Income taxes | 67/77 | €6,896 | €21,587 | +€14,690 | +213.0% |
| Profit (loss) for the period | 9904 | €20,670 | €55,886 | +€35,216 | +170.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,670 | €55,886 | +€35,216 | +170.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.