DE KAFHOEK: 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.
DE KAFHOEK
Largest movements
- Tangible fixed assets -€41,536
down €41,536 (-5.1%), from €821,276 to €779,740
of which Land and buildings: -€41,138
- Cash -€34,266
down €34,266 (-76.5%), from €44,817 to €10,551
mainly Net result for the year (-€190,088) and Trade debts (-€27,738)
- Receivables within one year -€24,490
down €24,490 (-36.0%), from €68,123 to €43,632
of which Trade receivables: -€25,249
- Profit (loss) carried forward -€190,088
down €190,088 (-91.5%), from -€207,736 to -€397,824
- Other debts +€98,858
up €98,858 (+8.3%), from €1.2m to €1.3m
- Trade debts -€27,738
down €27,738 (-94.0%), from €29,521 to €1,783
- Accrued charges and deferred income +€19,182
up €19,182 (+99.7%), from €19,235 to €38,417
- Taxes +€45,933
new in 2025: €45,933
- Other operating charges +€39,146
up €39,146 (+145%), from €27,014 to €66,161
- Financial charges +€37,683
up €37,683 (+109%), from €34,441 to €72,124
- Depreciation -€3,118
down €3,118 (-7.0%), from €44,655 to €41,536
- Financial income +€1,031
up €1,031 (+139%), from €740 to €1,771
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 | €1,177,425 | €1,077,639 | -€99,786 | -8.5% |
| Fixed assets | 21/28 | €821,276 | €779,740 | -€41,536 | -5.1% |
| Tangible fixed assets | 22/27 | €821,276 | €779,740 | -€41,536 | -5.1% |
| Land and buildings | 22 | €820,878 | €779,740 | -€41,138 | -5.0% |
| Plant, machinery and equipment | 23 | €398 | - | -€398 | |
| Current assets | 29/58 | €356,149 | €297,899 | -€58,250 | -16.4% |
| Stocks and contracts in progress | 3 | €242,470 | €242,470 | = | 0.0% |
| Stocks | 30/36 | €242,470 | €242,470 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €68,123 | €43,632 | -€24,490 | -36.0% |
| Trade receivables | 40 | €26,713 | €1,464 | -€25,249 | -94.5% |
| Other amounts receivable | 41 | €41,409 | €42,168 | +€759 | +1.8% |
| Cash at bank and in hand | 54/58 | €44,817 | €10,551 | -€34,266 | -76.5% |
| Deferred charges and accrued income | 490/1 | €740 | €1,246 | +€507 | +68.5% |
| Total equity and liabilities | 10/49 | €1,177,425 | €1,077,639 | -€99,786 | -8.5% |
| Equity | 10/15 | -€64,028 | -€254,116 | -€190,088 | -297% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €19,708 | €19,708 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Distributable reserves | 133 | €7,308 | €7,308 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€207,736 | -€397,824 | -€190,088 | -91.5% |
| Amounts payable | 17/49 | €1,241,453 | €1,331,755 | +€90,302 | +7.3% |
| Amounts payable within one year | 42/48 | €1,222,219 | €1,293,339 | +€71,120 | +5.8% |
| Trade debts | 44 | €29,521 | €1,783 | -€27,738 | -94.0% |
| Suppliers | 440/4 | €29,521 | €1,783 | -€27,738 | -94.0% |
| Other amounts payable | 47/48 | €1,192,697 | €1,291,556 | +€98,858 | +8.3% |
| Accrued charges and deferred income | 492/3 | €19,235 | €38,417 | +€19,182 | +99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,655 | €41,536 | -€3,118 | -7.0% |
| Other operating charges | 640/8 | €27,014 | €66,161 | +€39,146 | +145% |
| Gross operating margin | 9900 | €32,869 | €33,896 | +€1,026 | +3.1% |
| Operating profit (loss) | 9901 | -€38,800 | -€73,801 | -€35,002 | -90.2% |
| Financial income | 75/76B | €740 | €1,771 | +€1,031 | +139% |
| Recurring financial income | 75 | €740 | €1,771 | +€1,031 | +139% |
| Financial charges | 65/66B | €34,441 | €72,124 | +€37,683 | +109% |
| Recurring financial charges | 65 | €34,441 | €72,124 | +€37,683 | +109% |
| Profit (loss) for the period before taxes | 9903 | -€72,501 | -€144,155 | -€71,654 | -98.8% |
| Income taxes | 67/77 | - | €45,933 | +€45,933 | |
| Profit (loss) for the period | 9904 | -€72,501 | -€190,088 | -€117,588 | -162% |
| Profit (loss) for the period to be appropriated | 9905 | -€72,501 | -€190,088 | -€117,588 | -162% |
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 14 October 2026 via checked.be.