DE KWAFEUR: 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 KWAFEUR
Largest movements
- Current investments +€20,000
up €20,000 (+22.2%), from €90,000 to €110,000
- Cash +€13,298
up €13,298 (+36.1%), from €36,817 to €50,115
mainly Net result for the year (+€37,852) and Short-term financial debts (+€4,389)
- Receivables within one year +€2,284
up €2,284 (+413%), from €553 to €2,837
- Tangible fixed assets -€1,775
down €1,775 (-30.9%), from €5,751 to €3,975
- Reserves +€28,439
up €28,439 (+39.2%), from €72,627 to €101,066
- Short-term financial debts +€4,389
up €4,389 (+422%), from €1,041 to €5,430
- Gross operating margin +€41,630
up €41,630 (+30.2%), from €137,743 to €179,373
- Taxes +€13,685
up €13,685 (+250%), from €5,475 to €19,159
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 | €141,924 | €175,640 | +€33,716 | +23.8% |
| Fixed assets | 21/28 | €6,102 | €4,327 | -€1,775 | -29.1% |
| Tangible fixed assets | 22/27 | €5,751 | €3,975 | -€1,775 | -30.9% |
| Plant, machinery and equipment | 23 | €5,751 | €3,975 | -€1,775 | -30.9% |
| Financial fixed assets | 28 | €352 | €352 | = | 0.0% |
| Current assets | 29/58 | €135,822 | €171,313 | +€35,491 | +26.1% |
| Stocks and contracts in progress | 3 | €7,130 | €7,797 | +€667 | +9.4% |
| Stocks | 30/36 | €7,130 | €7,797 | +€667 | +9.4% |
| Amounts receivable within one year | 40/41 | €553 | €2,837 | +€2,284 | +413% |
| Other amounts receivable | 41 | €553 | €2,837 | +€2,284 | +413% |
| Current investments | 50/53 | €90,000 | €110,000 | +€20,000 | +22.2% |
| Cash at bank and in hand | 54/58 | €36,817 | €50,115 | +€13,298 | +36.1% |
| Deferred charges and accrued income | 490/1 | €1,322 | €564 | -€758 | -57.3% |
| Total equity and liabilities | 10/49 | €141,924 | €175,640 | +€33,716 | +23.8% |
| Equity | 10/15 | €92,627 | €121,066 | +€28,439 | +30.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €72,627 | €101,066 | +€28,439 | +39.2% |
| Distributable reserves | 133 | €72,627 | €101,066 | +€28,439 | +39.2% |
| Amounts payable | 17/49 | €49,297 | €54,574 | +€5,277 | +10.7% |
| Amounts payable within one year | 42/48 | €48,947 | €54,574 | +€5,627 | +11.5% |
| Financial debts | 43 | €1,041 | €5,430 | +€4,389 | +422% |
| Credit institutions | 430/8 | €1,041 | €5,430 | +€4,389 | +422% |
| Trade debts | 44 | €4,525 | €5,237 | +€712 | +15.7% |
| Suppliers | 440/4 | €4,525 | €5,237 | +€712 | +15.7% |
| Taxes, remuneration and social security | 45 | €21,914 | €21,699 | -€216 | -1.0% |
| Taxes | 450/3 | €10,030 | €9,741 | -€289 | -2.9% |
| Remuneration and social security | 454/9 | €11,884 | €11,957 | +€73 | +0.6% |
| Other amounts payable | 47/48 | €21,466 | €22,208 | +€742 | +3.5% |
| Accrued charges and deferred income | 492/3 | €350 | - | -€350 | |
| Remuneration, social security and pensions | 62 | €117,264 | €118,915 | +€1,651 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,881 | €1,775 | -€106 | -5.6% |
| Other operating charges | 640/8 | €713 | €2,051 | +€1,339 | +188% |
| Gross operating margin | 9900 | €137,743 | €179,373 | +€41,630 | +30.2% |
| Operating profit (loss) | 9901 | €17,886 | €56,632 | +€38,746 | +217% |
| Financial income | 75/76B | €673 | €1,479 | +€806 | +120% |
| Recurring financial income | 75 | €673 | €1,479 | +€806 | +120% |
| Financial charges | 65/66B | €1,328 | €1,099 | -€229 | -17.2% |
| Recurring financial charges | 65 | €1,328 | €1,099 | -€229 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €17,231 | €57,012 | +€39,780 | +231% |
| Income taxes | 67/77 | €5,475 | €19,159 | +€13,685 | +250% |
| Profit (loss) for the period | 9904 | €11,756 | €37,852 | +€26,096 | +222% |
| Profit (loss) for the period to be appropriated | 9905 | €11,756 | €37,852 | +€26,096 | +222% |
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.