KLARO: 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.
KLARO
Largest movements
- Financial fixed assets +€251,250
up €251,250 (+58.1%), from €432,170 to €683,420
- Receivables within one year -€21,219
down €21,219 (-55.2%), from €38,448 to €17,229
of which Trade receivables: -€23,732
- Cash +€15,544
up €15,544 (+145%), from €10,691 to €26,235
mainly Debts after one year (+€214,943) and Net result for the year (+€33,534)
- Debts after one year +€214,943
up €214,943 (+290%), from €74,096 to €289,039
- Reserves +€33,534
up €33,534 (+12.9%), from €259,311 to €292,845
of which Distributable reserves: +€33,534
- Other debts -€10,936
down €10,936 (-7.2%), from €151,711 to €140,775
- Depreciation +€2,347
up €2,347 (+19.9%), from €11,766 to €14,113
- Gross operating margin -€1,177
down €1,177 (-1.8%), from €64,832 to €63,655
- Financial charges -€789
down €789 (-13.8%), from €5,703 to €4,914
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 | €537,820 | €787,141 | +€249,321 | +46.4% |
| Fixed assets | 21/28 | €486,799 | €735,935 | +€249,135 | +51.2% |
| Tangible fixed assets | 22/27 | €54,629 | €52,515 | -€2,115 | -3.9% |
| Plant, machinery and equipment | 23 | €2,918 | €11,703 | +€8,785 | +301% |
| Furniture and vehicles | 24 | €51,711 | €40,812 | -€10,899 | -21.1% |
| Financial fixed assets | 28 | €432,170 | €683,420 | +€251,250 | +58.1% |
| Current assets | 29/58 | €51,021 | €51,206 | +€185 | +0.4% |
| Stocks and contracts in progress | 3 | €323 | €7,743 | +€7,420 | +2,301% |
| Stocks | 30/36 | €323 | €7,743 | +€7,420 | +2,301% |
| Amounts receivable within one year | 40/41 | €38,448 | €17,229 | -€21,219 | -55.2% |
| Trade receivables | 40 | €35,810 | €12,078 | -€23,732 | -66.3% |
| Other amounts receivable | 41 | €2,638 | €5,150 | +€2,512 | +95.2% |
| Cash at bank and in hand | 54/58 | €10,691 | €26,235 | +€15,544 | +145% |
| Deferred charges and accrued income | 490/1 | €1,559 | €0 | -€1,559 | -100% |
| Total equity and liabilities | 10/49 | €537,820 | €787,141 | +€249,321 | +46.4% |
| Equity | 10/15 | €289,311 | €322,845 | +€33,534 | +11.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €259,311 | €292,845 | +€33,534 | +12.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €259,311 | €292,845 | +€33,534 | +12.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €248,509 | €464,296 | +€215,787 | +86.8% |
| Amounts payable after more than one year | 17 | €74,096 | €289,039 | +€214,943 | +290% |
| Financial debts | 170/4 | €74,096 | €289,039 | +€214,943 | +290% |
| Amounts payable within one year | 42/48 | €174,413 | €175,257 | +€844 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €9,669 | €10,057 | +€388 | +4.0% |
| Trade debts | 44 | €2,538 | €9,408 | +€6,870 | +271% |
| Suppliers | 440/4 | €2,538 | €9,408 | +€6,870 | +271% |
| Taxes, remuneration and social security | 45 | €10,495 | €15,017 | +€4,521 | +43.1% |
| Taxes | 450/3 | €10,495 | €15,017 | +€4,521 | +43.1% |
| Other amounts payable | 47/48 | €151,711 | €140,775 | -€10,936 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,766 | €14,113 | +€2,347 | +19.9% |
| Other operating charges | 640/8 | €1,072 | €834 | -€238 | -22.2% |
| Gross operating margin | 9900 | €64,832 | €63,655 | -€1,177 | -1.8% |
| Operating profit (loss) | 9901 | €51,994 | €48,708 | -€3,286 | -6.3% |
| Financial income | 75/76B | €2,001 | €2,227 | +€227 | +11.3% |
| Recurring financial income | 75 | €2,001 | €2,227 | +€227 | +11.3% |
| Financial charges | 65/66B | €5,703 | €4,914 | -€789 | -13.8% |
| Recurring financial charges | 65 | €5,703 | €4,914 | -€789 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €48,292 | €46,022 | -€2,270 | -4.7% |
| Income taxes | 67/77 | €11,862 | €12,488 | +€625 | +5.3% |
| Profit (loss) for the period | 9904 | €36,429 | €33,534 | -€2,895 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,429 | €33,534 | -€2,895 | -7.9% |
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 23 October 2026 via checked.be.