Karimi Express: 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.
Karimi Express
Largest movements
- Cash +€79,718
up €79,718 (+225%), from €35,397 to €115,116
mainly Depreciation (+€83,438) and Trade debts (+€70,084)
- Tangible fixed assets -€63,390
down €63,390 (-22.7%), from €279,174 to €215,784
of which Plant, machinery and equipment: -€57,325
- Receivables after one year -€50,000
down €50,000 (-36.1%), from €138,648 to €88,648
- Stocks and contracts +€17,063
up €17,063 (+12.0%), from €142,490 to €159,554
- Trade debts +€70,084
up €70,084 (+28.1%), from €249,123 to €319,207
of which Suppliers: +€69,597
- Debts after one year -€46,674
down €46,674 (-20.7%), from €224,963 to €178,288
- Tax, wage and social debts -€31,987
down €31,987 (-53.7%), from €59,543 to €27,556
of which Remuneration and social security: -€25,920
- Profit (loss) carried forward -€20,804
down €20,804 (-19.1%), from €108,805 to €88,001
- Other debts +€17,947
up €17,947 (+1,452%), from €1,236 to €19,182
- Gross operating margin -€43,078
down €43,078 (-9.6%), from €450,166 to €407,088
- Staff costs -€26,425
down €26,425 (-10.0%), from €263,436 to €237,011
- Other operating charges +€22,538
up €22,538 (+401%), from €5,625 to €28,162
- Depreciation +€19,385
up €19,385 (+30.3%), from €64,054 to €83,438
- Financial charges +€7,946
up €7,946 (+40.0%), from €19,860 to €27,806
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 | €803,876 | €789,010 | -€14,867 | -1.8% |
| Formation expenses | 20 | €422 | - | -€422 | |
| Fixed assets | 21/28 | €447,329 | €383,939 | -€63,390 | -14.2% |
| Tangible fixed assets | 22/27 | €279,174 | €215,784 | -€63,390 | -22.7% |
| Plant, machinery and equipment | 23 | €164,114 | €106,789 | -€57,325 | -34.9% |
| Furniture and vehicles | 24 | €115,059 | €108,995 | -€6,064 | -5.3% |
| Financial fixed assets | 28 | €168,155 | €168,155 | = | 0.0% |
| Current assets | 29/58 | €356,126 | €405,071 | +€48,945 | +13.7% |
| Amounts receivable after more than one year | 29 | €138,648 | €88,648 | -€50,000 | -36.1% |
| Other amounts receivable | 291 | €138,648 | €88,648 | -€50,000 | -36.1% |
| Stocks and contracts in progress | 3 | €142,490 | €159,554 | +€17,063 | +12.0% |
| Stocks | 30/36 | €142,490 | €159,554 | +€17,063 | +12.0% |
| Amounts receivable within one year | 40/41 | €8,156 | €16,137 | +€7,981 | +97.9% |
| Trade receivables | 40 | €6 | - | -€6 | |
| Other amounts receivable | 41 | €8,150 | €16,137 | +€7,986 | +98.0% |
| Cash at bank and in hand | 54/58 | €35,397 | €115,116 | +€79,718 | +225% |
| Deferred charges and accrued income | 490/1 | €31,434 | €25,616 | -€5,818 | -18.5% |
| Total equity and liabilities | 10/49 | €803,876 | €789,010 | -€14,867 | -1.8% |
| Equity | 10/15 | €193,805 | €173,001 | -€20,804 | -10.7% |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Contributions outside capital | 11 | €85,000 | €85,000 | = | 0.0% |
| Other | 1109/19 | €85,000 | €85,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €108,805 | €88,001 | -€20,804 | -19.1% |
| Amounts payable | 17/49 | €610,072 | €616,009 | +€5,937 | +1.0% |
| Amounts payable after more than one year | 17 | €224,963 | €178,288 | -€46,674 | -20.7% |
| Financial debts | 170/4 | €224,963 | €178,288 | -€46,674 | -20.7% |
| Amounts payable within one year | 42/48 | €382,819 | €437,720 | +€54,901 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €72,917 | €71,775 | -€1,143 | -1.6% |
| Trade debts | 44 | €249,123 | €319,207 | +€70,084 | +28.1% |
| Suppliers | 440/4 | €249,123 | €318,720 | +€69,597 | +27.9% |
| Bills of exchange payable | 441 | - | €487 | +€487 | |
| Taxes, remuneration and social security | 45 | €59,543 | €27,556 | -€31,987 | -53.7% |
| Taxes | 450/3 | €11,325 | €5,259 | -€6,067 | -53.6% |
| Remuneration and social security | 454/9 | €48,217 | €22,297 | -€25,920 | -53.8% |
| Other amounts payable | 47/48 | €1,236 | €19,182 | +€17,947 | +1,452% |
| Accrued charges and deferred income | 492/3 | €2,290 | - | -€2,290 | |
| Remuneration, social security and pensions | 62 | €263,436 | €237,011 | -€26,425 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,054 | €83,438 | +€19,385 | +30.3% |
| Other operating charges | 640/8 | €5,625 | €28,162 | +€22,538 | +401% |
| Non-recurring operating charges | 66A | - | €50,000 | +€50,000 | |
| Gross operating margin | 9900 | €450,166 | €407,088 | -€43,078 | -9.6% |
| Operating profit (loss) | 9901 | €117,052 | €8,477 | -€108,576 | -92.8% |
| Financial income | 75/76B | €998 | €603 | -€395 | -39.6% |
| Recurring financial income | 75 | €998 | €603 | -€395 | -39.6% |
| Financial charges | 65/66B | €19,860 | €27,806 | +€7,946 | +40.0% |
| Recurring financial charges | 65 | €19,860 | €27,806 | +€7,946 | +40.0% |
| Profit (loss) for the period before taxes | 9903 | €98,190 | -€18,726 | -€116,917 | |
| Income taxes | 67/77 | €7,887 | €2,077 | -€5,810 | -73.7% |
| Profit (loss) for the period | 9904 | €90,303 | -€20,804 | -€111,107 | |
| Profit (loss) for the period to be appropriated | 9905 | €90,303 | -€20,804 | -€111,107 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.