KARMA: what changed
KARMA
Largest movements
- Receivables within one year +€16,488
up €16,488 (+38.9%), from €42,377 to €58,865
of which Other amounts receivable: +€17,402
- Tangible fixed assets -€9,707
down €9,707 (-13.2%), from €73,763 to €64,056
of which Furniture and vehicles: -€6,760
- Stocks and contracts -€4,313
down €4,313 (-24.2%), from €17,849 to €13,536
- Cash -€2,029
down €2,029 (-15.7%), from €12,942 to €10,913
mainly Other debts (-€29,577) and Receivables within one year (-€16,488)
- Other debts -€29,577
down €29,577 (-99.8%), from €29,623 to €46
- Reserves +€23,888
up €23,888 (+27.5%), from €86,733 to €110,621
of which Distributable reserves: +€23,888
- Trade debts +€4,020
up €4,020 (+195%), from €2,064 to €6,084
- Tax, wage and social debts +€2,108
up €2,108 (+21.3%), from €9,911 to €12,019
- Depreciation +€3,531
up €3,531 (+35.5%), from €9,951 to €13,482
- Gross operating margin +€2,789
up €2,789 (+6.2%), from €44,729 to €47,519
- Taxes +€2,728
up €2,728 (+42.8%), from €6,373 to €9,101
- Financial charges -€1,712
down €1,712 (-90.2%), from €1,899 to €187
- Financial income +€482
up €482 (+61,737%), from €1 to €482
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €146,931 | €147,370 | +€439 | +0.3% |
| Fixed assets | 21/28 | €73,763 | €64,056 | -€9,707 | -13.2% |
| Tangible fixed assets | 22/27 | €73,763 | €64,056 | -€9,707 | -13.2% |
| Plant, machinery and equipment | 23 | €44,711 | €41,764 | -€2,947 | -6.6% |
| Furniture and vehicles | 24 | €29,052 | €22,292 | -€6,760 | -23.3% |
| Current assets | 29/58 | €73,168 | €83,313 | +€10,146 | +13.9% |
| Stocks and contracts in progress | 3 | €17,849 | €13,536 | -€4,313 | -24.2% |
| Stocks | 30/36 | €17,849 | €13,536 | -€4,313 | -24.2% |
| Amounts receivable within one year | 40/41 | €42,377 | €58,865 | +€16,488 | +38.9% |
| Trade receivables | 40 | €41,978 | €41,064 | -€914 | -2.2% |
| Other amounts receivable | 41 | €399 | €17,801 | +€17,402 | +4,365% |
| Cash at bank and in hand | 54/58 | €12,942 | €10,913 | -€2,029 | -15.7% |
| Total equity and liabilities | 10/49 | €146,931 | €147,370 | +€439 | +0.3% |
| Equity | 10/15 | €105,333 | €129,221 | +€23,888 | +22.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €86,733 | €110,621 | +€23,888 | +27.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €86,733 | €110,621 | +€23,888 | +27.5% |
| Amounts payable | 17/49 | €41,598 | €18,149 | -€23,449 | -56.4% |
| Amounts payable within one year | 42/48 | €41,598 | €18,149 | -€23,449 | -56.4% |
| Trade debts | 44 | €2,064 | €6,084 | +€4,020 | +195% |
| Suppliers | 440/4 | €2,064 | €6,084 | +€4,020 | +195% |
| Taxes, remuneration and social security | 45 | €9,911 | €12,019 | +€2,108 | +21.3% |
| Taxes | 450/3 | €9,911 | €12,019 | +€2,108 | +21.3% |
| Other amounts payable | 47/48 | €29,623 | €46 | -€29,577 | -99.8% |
| Non-recurring operating income | 76A | €750 | €0 | -€750 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,951 | €13,482 | +€3,531 | +35.5% |
| Other operating charges | 640/8 | €577 | €843 | +€266 | +46.1% |
| Non-recurring operating charges | 66A | €8,240 | €500 | -€7,740 | -93.9% |
| Gross operating margin | 9900 | €44,729 | €47,519 | +€2,789 | +6.2% |
| Operating profit (loss) | 9901 | €25,961 | €32,693 | +€6,732 | +25.9% |
| Financial income | 75/76B | €1 | €482 | +€482 | +61,737% |
| Recurring financial income | 75 | €1 | €482 | +€482 | +61,737% |
| Financial charges | 65/66B | €1,899 | €187 | -€1,712 | -90.2% |
| Recurring financial charges | 65 | €1,899 | €187 | -€1,712 | -90.2% |
| Profit (loss) for the period before taxes | 9903 | €24,063 | €32,989 | +€8,926 | +37.1% |
| Income taxes | 67/77 | €6,373 | €9,101 | +€2,728 | +42.8% |
| Profit (loss) for the period | 9904 | €17,690 | €23,888 | +€6,198 | +35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,690 | €23,888 | +€6,198 | +35.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.