Katharós Advisory: 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.
Katharós Advisory
Largest movements
- Receivables within one year -€21,992
down €21,992 (-54.3%), from €40,505 to €18,513
of which Trade receivables: -€15,295
- Tangible fixed assets -€11,606
down €11,606 (-29.1%), from €39,821 to €28,215
of which Furniture and vehicles: -€10,368
- Cash +€4,164
up €4,164 (+8.6%), from €48,434 to €52,597
mainly Net result for the year (+€77,402) and Receivables within one year (+€21,992)
- Other debts -€27,233
down €27,233 (-45.4%), from €60,000 to €32,767
- Debts after one year -€9,208
down €9,208 (-40.1%), from €22,936 to €13,728
- Profit (loss) carried forward +€7,402
up €7,402 (+195%), from €3,793 to €11,195
- Gross operating margin +€17,399
up €17,399 (+19.9%), from €87,291 to €104,690
- Taxes -€2,286
down €2,286 (-14.8%), from €15,500 to €13,214
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.
Derived cash bridge
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 | €130,660 | €101,234 | -€29,426 | -22.5% |
| Fixed assets | 21/28 | €39,881 | €28,275 | -€11,606 | -29.1% |
| Tangible fixed assets | 22/27 | €39,821 | €28,215 | -€11,606 | -29.1% |
| Land and buildings | 22 | €6,027 | €4,789 | -€1,238 | -20.5% |
| Furniture and vehicles | 24 | €33,794 | €23,426 | -€10,368 | -30.7% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €90,779 | €72,959 | -€17,821 | -19.6% |
| Amounts receivable within one year | 40/41 | €40,505 | €18,513 | -€21,992 | -54.3% |
| Trade receivables | 40 | €33,808 | €18,513 | -€15,295 | -45.2% |
| Other amounts receivable | 41 | €6,697 | - | -€6,697 | |
| Cash at bank and in hand | 54/58 | €48,434 | €52,597 | +€4,164 | +8.6% |
| Deferred charges and accrued income | 490/1 | €1,840 | €1,848 | +€8 | +0.4% |
| Total equity and liabilities | 10/49 | €130,660 | €101,234 | -€29,426 | -22.5% |
| Equity | 10/15 | €24,198 | €31,600 | +€7,402 | +30.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,793 | €11,195 | +€7,402 | +195% |
| Amounts payable | 17/49 | €106,462 | €69,634 | -€36,828 | -34.6% |
| Amounts payable after more than one year | 17 | €22,936 | €13,728 | -€9,208 | -40.1% |
| Financial debts | 170/4 | €22,936 | €13,728 | -€9,208 | -40.1% |
| Amounts payable within one year | 42/48 | €83,526 | €55,906 | -€27,621 | -33.1% |
| Current portion of amounts payable after more than one year | 42 | €8,827 | €9,208 | +€381 | +4.3% |
| Trade debts | 44 | €3,524 | €3,744 | +€221 | +6.3% |
| Suppliers | 440/4 | €3,524 | €3,744 | +€221 | +6.3% |
| Taxes, remuneration and social security | 45 | €11,175 | €10,186 | -€989 | -8.9% |
| Taxes | 450/3 | €11,175 | €10,186 | -€989 | -8.9% |
| Other amounts payable | 47/48 | €60,000 | €32,767 | -€27,233 | -45.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,990 | €11,606 | -€384 | -3.2% |
| Other operating charges | 640/8 | €512 | €897 | +€385 | +75.3% |
| Gross operating margin | 9900 | €87,291 | €104,690 | +€17,399 | +19.9% |
| Operating profit (loss) | 9901 | €74,789 | €92,187 | +€17,398 | +23.3% |
| Financial income | 75/76B | €263 | - | -€263 | |
| Recurring financial income | 75 | €263 | - | -€263 | |
| Financial charges | 65/66B | €2,500 | €1,571 | -€929 | -37.2% |
| Recurring financial charges | 65 | €2,500 | €1,571 | -€929 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | €72,552 | €90,616 | +€18,063 | +24.9% |
| Income taxes | 67/77 | €15,500 | €13,214 | -€2,286 | -14.8% |
| Profit (loss) for the period | 9904 | €57,052 | €77,402 | +€20,350 | +35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €57,052 | €77,402 | +€20,350 | +35.7% |
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 27 October 2026 via checked.be.