S. KARAN: 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.
S. KARAN
Largest movements
- Stocks and contracts +€79,172
up €79,172 (+207.3%), from €38,184 to €117,356
- Receivables within one year +€10,104
up €10,104 (+7988.9%), from €126 to €10,231
of which Other amounts receivable: +€6,191
- Intangible fixed assets +€4,003
new in 2025: €4,003
- Tangible fixed assets +€3,799
new in 2025: €3,799
- Debts after one year +€103,400
new in 2025: €103,400
- Contributions -€11,400
down €11,400 (-38.0%), from €30,000 to €18,600
- Trade debts +€6,693
up €6,693 (+567.3%), from €1,180 to €7,872
- Profit (loss) carried forward +€3,762
up €3,762 (+79.1%), from €4,758 to €8,520
- Other debts -€2,591
no longer reported in 2025 (was €2,591)
- Purchases and services +€572,525
up €572,525 (+157.3%), from €364,057 to €936,582
- Turnover +€558,431
up €558,431 (+146.1%), from €382,316 to €940,747
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 | €48,021 | €146,196 | +€98,175 | +204.4% |
| Fixed assets | 21/28 | €1,678 | €9,480 | +€7,802 | +464.9% |
| Intangible fixed assets | 21 | - | €4,003 | +€4,003 | |
| Tangible fixed assets | 22/27 | - | €3,799 | +€3,799 | |
| Furniture and vehicles | 24 | - | €3,799 | +€3,799 | |
| Financial fixed assets | 28 | €1,678 | €1,678 | = | 0.0% |
| Current assets | 29/58 | €46,343 | €136,716 | +€90,373 | +195.0% |
| Stocks and contracts in progress | 3 | €38,184 | €117,356 | +€79,172 | +207.3% |
| Stocks | 30/36 | €38,184 | €117,356 | +€79,172 | +207.3% |
| Amounts receivable within one year | 40/41 | €126 | €10,231 | +€10,104 | +7988.9% |
| Trade receivables | 40 | - | €3,913 | +€3,913 | |
| Other amounts receivable | 41 | €126 | €6,317 | +€6,191 | +4894.8% |
| Cash at bank and in hand | 54/58 | €8,033 | €8,001 | -€31 | -0.4% |
| Deferred charges and accrued income | 490/1 | - | €1,127 | +€1,127 | |
| Total equity and liabilities | 10/49 | €48,021 | €146,196 | +€98,175 | +204.4% |
| Equity | 10/15 | €34,758 | €27,120 | -€7,638 | -22.0% |
| Contributions | 10/11 | €30,000 | €18,600 | -€11,400 | -38.0% |
| Profit (loss) carried forward | 14 | €4,758 | €8,520 | +€3,762 | +79.1% |
| Amounts payable | 17/49 | €13,264 | €119,076 | +€105,813 | +797.8% |
| Amounts payable after more than one year | 17 | - | €103,400 | +€103,400 | |
| Other amounts payable | 178/9 | - | €103,400 | +€103,400 | |
| Amounts payable within one year | 42/48 | €13,264 | €15,676 | +€2,413 | +18.2% |
| Trade debts | 44 | €1,180 | €7,872 | +€6,693 | +567.3% |
| Suppliers | 440/4 | €1,180 | €7,872 | +€6,693 | +567.3% |
| Taxes, remuneration and social security | 45 | €9,493 | €7,804 | -€1,689 | -17.8% |
| Taxes | 450/3 | €9,493 | €7,804 | -€1,689 | -17.8% |
| Other amounts payable | 47/48 | €2,591 | - | -€2,591 | |
| Turnover | 70 | €382,316 | €940,747 | +€558,431 | +146.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €364,057 | €936,582 | +€572,525 | +157.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,365 | +€1,365 | |
| Other operating charges | 640/8 | €7,949 | €5,525 | -€2,425 | -30.5% |
| Gross operating margin | 9900 | €20,498 | €14,815 | -€5,684 | -27.7% |
| Operating profit (loss) | 9901 | €12,549 | €7,925 | -€4,624 | -36.8% |
| Financial charges | 65/66B | €215 | €1,795 | +€1,580 | +735.2% |
| Recurring financial charges | 65 | €215 | €1,795 | +€1,580 | +735.2% |
| Profit (loss) for the period before taxes | 9903 | €12,334 | €6,130 | -€6,204 | -50.3% |
| Income taxes | 67/77 | €9,732 | €2,368 | -€7,365 | -75.7% |
| Profit (loss) for the period | 9904 | €2,602 | €3,762 | +€1,161 | +44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,602 | €3,762 | +€1,161 | +44.6% |
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 12 October 2026 via checked.be.