KARMA: what changed
KARMA
Largest movements
- Tangible fixed assets -€8,513
down €8,513 (-12.0%), from €71,113 to €62,600
of which Plant, machinery and equipment: -€8,310
- Cash +€1,680
up €1,680 (+190%), from €885 to €2,565
mainly Depreciation (+€8,513) and Net result for the year (+€1,635)
- Other debts -€10,005
down €10,005 (-14.8%), from €67,652 to €57,647
- Profit (loss) carried forward +€1,635
up €1,635, from -€310 to €1,325
- Trade debts +€1,138
up €1,138 (+730%), from €156 to €1,294
- Financial charges -€2,099
down €2,099 (-31.8%), from €6,595 to €4,496
- Gross operating margin -€1,776
down €1,776 (-10.3%), from €17,189 to €15,413
- Depreciation -€1,350
down €1,350 (-13.7%), from €9,863 to €8,513
- Other operating charges -€857
down €857 (-66.0%), from €1,300 to €443
- Taxes +€337
new in 2025: €337
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 | €72,498 | €65,603 | -€6,895 | -9.5% |
| Fixed assets | 21/28 | €71,113 | €62,600 | -€8,513 | -12.0% |
| Tangible fixed assets | 22/27 | €71,113 | €62,600 | -€8,513 | -12.0% |
| Plant, machinery and equipment | 23 | €70,167 | €61,857 | -€8,310 | -11.8% |
| Furniture and vehicles | 24 | €946 | €743 | -€203 | -21.5% |
| Current assets | 29/58 | €1,385 | €3,003 | +€1,618 | +117% |
| Amounts receivable within one year | 40/41 | €401 | €337 | -€64 | -15.9% |
| Other amounts receivable | 41 | €401 | €337 | -€64 | -15.9% |
| Cash at bank and in hand | 54/58 | €885 | €2,565 | +€1,680 | +190% |
| Deferred charges and accrued income | 490/1 | €98 | €100 | +€2 | +2.0% |
| Total equity and liabilities | 10/49 | €72,498 | €65,603 | -€6,895 | -9.5% |
| Equity | 10/15 | €4,690 | €6,325 | +€1,635 | +34.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€310 | €1,325 | +€1,635 | |
| Amounts payable | 17/49 | €67,808 | €59,278 | -€8,530 | -12.6% |
| Amounts payable within one year | 42/48 | €67,808 | €59,278 | -€8,530 | -12.6% |
| Trade debts | 44 | €156 | €1,294 | +€1,138 | +730% |
| Suppliers | 440/4 | €156 | €1,294 | +€1,138 | +730% |
| Taxes, remuneration and social security | 45 | - | €337 | +€337 | |
| Taxes | 450/3 | - | €337 | +€337 | |
| Other amounts payable | 47/48 | €67,652 | €57,647 | -€10,005 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,863 | €8,513 | -€1,350 | -13.7% |
| Other operating charges | 640/8 | €1,300 | €443 | -€857 | -66.0% |
| Gross operating margin | 9900 | €17,189 | €15,413 | -€1,776 | -10.3% |
| Operating profit (loss) | 9901 | €6,026 | €6,457 | +€431 | +7.2% |
| Financial income | 75/76B | €259 | €11 | -€248 | -95.9% |
| Recurring financial income | 75 | €259 | €11 | -€248 | -95.9% |
| Financial charges | 65/66B | €6,595 | €4,496 | -€2,099 | -31.8% |
| Recurring financial charges | 65 | €6,595 | €4,496 | -€2,099 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | -€310 | €1,972 | +€2,282 | |
| Income taxes | 67/77 | - | €337 | +€337 | |
| Profit (loss) for the period | 9904 | -€310 | €1,635 | +€1,945 | |
| Profit (loss) for the period to be appropriated | 9905 | -€310 | €1,635 | +€1,945 |
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 8 November 2026 via checked.be.