KATHARO: what changed
Two fiscal 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.
KATHARO
Largest movements
- Cash -€33,923
down €33,923 (-20.1%), from €168,562 to €134,640
mainly Contributions, distributions and other (-€58,069) and Trade debts (-€45,940)
- Other debts +€51,706
up €51,706 (+111.2%), from €46,512 to €98,218
- Reserves -€51,312
down €51,312 (-96.5%), from €53,172 to €1,860
of which Distributable reserves: -€51,312
- Trade debts -€45,940
down €45,940 (-94.7%), from €48,494 to €2,554
- Tax, wage and social debts +€10,678
up €10,678 (+180.7%), from €5,908 to €16,586
- Gross operating margin -€7,101
down €7,101 (-32.5%), from €21,876 to €14,775
- Taxes -€1,507
down €1,507 (-37.4%), from €4,030 to €2,522
- Other operating charges +€246
up €246 (+29.6%), from €833 to €1,079
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 | €172,687 | €137,819 | -€34,867 | -20.2% |
| Fixed assets | 21/28 | €1,784 | €1,346 | -€438 | -24.5% |
| Tangible fixed assets | 22/27 | €1,784 | €1,346 | -€438 | -24.5% |
| Furniture and vehicles | 24 | €1,784 | €1,346 | -€438 | -24.5% |
| Current assets | 29/58 | €170,902 | €136,473 | -€34,429 | -20.1% |
| Amounts receivable within one year | 40/41 | €615 | €51 | -€565 | -91.8% |
| Other amounts receivable | 41 | €615 | €51 | -€565 | -91.8% |
| Cash at bank and in hand | 54/58 | €168,562 | €134,640 | -€33,923 | -20.1% |
| Deferred charges and accrued income | 490/1 | €1,725 | €1,783 | +€58 | +3.3% |
| Total equity and liabilities | 10/49 | €172,687 | €137,819 | -€34,867 | -20.2% |
| Equity | 10/15 | €71,772 | €20,460 | -€51,312 | -71.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €53,172 | €1,860 | -€51,312 | -96.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €51,312 | €0 | -€51,312 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €100,915 | €117,359 | +€16,445 | +16.3% |
| Amounts payable within one year | 42/48 | €100,915 | €117,359 | +€16,445 | +16.3% |
| Trade debts | 44 | €48,494 | €2,554 | -€45,940 | -94.7% |
| Suppliers | 440/4 | €48,494 | €2,554 | -€45,940 | -94.7% |
| Taxes, remuneration and social security | 45 | €5,908 | €16,586 | +€10,678 | +180.7% |
| Taxes | 450/3 | €5,908 | €16,586 | +€10,678 | +180.7% |
| Other amounts payable | 47/48 | €46,512 | €98,218 | +€51,706 | +111.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €406 | €438 | +€32 | +8.0% |
| Other operating charges | 640/8 | €833 | €1,079 | +€246 | +29.6% |
| Gross operating margin | 9900 | €21,876 | €14,775 | -€7,101 | -32.5% |
| Operating profit (loss) | 9901 | €20,637 | €13,258 | -€7,380 | -35.8% |
| Financial charges | 65/66B | €4,114 | €3,978 | -€136 | -3.3% |
| Recurring financial charges | 65 | €4,114 | €3,978 | -€136 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €16,523 | €9,280 | -€7,243 | -43.8% |
| Income taxes | 67/77 | €4,030 | €2,522 | -€1,507 | -37.4% |
| Profit (loss) for the period | 9904 | €12,493 | €6,757 | -€5,736 | -45.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,493 | €6,757 | -€5,736 | -45.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.