KA & VO: 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.
KA & VO
Largest movements
- Cash +€10,867
up €10,867 (+218.1%), from €4,982 to €15,849
mainly Net result for the year (+€8,651) and Receivables within one year (+€2,027)
- Receivables within one year -€2,027
down €2,027 (-44.0%), from €4,611 to €2,584
of which Trade receivables: -€2,037
- Profit (loss) carried forward +€8,651
up €8,651 (+5.4%), from -€159,515 to -€150,863
- Trade debts +€319
up €319 (+337.4%), from €95 to €414
- Gross operating margin +€6,062
up €6,062 (+223.0%), from €2,719 to €8,780
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.
Cash bridge derived
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 | €11,343 | €20,184 | +€8,840 | +77.9% |
| Current assets | 29/58 | €11,343 | €20,184 | +€8,840 | +77.9% |
| Stocks and contracts in progress | 3 | €1,750 | €1,750 | = | 0.0% |
| Stocks | 30/36 | €1,750 | €1,750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,611 | €2,584 | -€2,027 | -44.0% |
| Trade receivables | 40 | €4,611 | €2,575 | -€2,037 | -44.2% |
| Other amounts receivable | 41 | - | €10 | +€10 | |
| Cash at bank and in hand | 54/58 | €4,982 | €15,849 | +€10,867 | +218.1% |
| Total equity and liabilities | 10/49 | €11,343 | €20,184 | +€8,840 | +77.9% |
| Equity | 10/15 | -€140,915 | -€132,263 | +€8,651 | +6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€159,515 | -€150,863 | +€8,651 | +5.4% |
| Amounts payable | 17/49 | €152,258 | €152,447 | +€189 | +0.1% |
| Amounts payable after more than one year | 17 | €72,000 | €72,000 | = | 0.0% |
| Financial debts | 170/4 | €72,000 | €72,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €80,258 | €80,447 | +€189 | +0.2% |
| Trade debts | 44 | €95 | €414 | +€319 | +337.4% |
| Suppliers | 440/4 | €95 | €414 | +€319 | +337.4% |
| Taxes, remuneration and social security | 45 | €150 | €24 | -€126 | -84.0% |
| Taxes | 450/3 | €150 | €24 | -€126 | -84.0% |
| Other amounts payable | 47/48 | €80,014 | €80,009 | -€4 | 0.0% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €2,719 | €8,780 | +€6,062 | +223.0% |
| Operating profit (loss) | 9901 | €2,601 | €8,660 | +€6,060 | +233.0% |
| Financial income | 75/76B | €19 | €33 | +€14 | +73.3% |
| Recurring financial income | 75 | €19 | €33 | +€14 | +73.3% |
| Financial charges | 65/66B | €45 | €42 | -€3 | -7.0% |
| Recurring financial charges | 65 | €45 | €42 | -€3 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €2,575 | €8,651 | +€6,077 | +236.0% |
| Income taxes | 67/77 | €6 | - | -€6 | |
| Profit (loss) for the period | 9904 | €2,569 | €8,651 | +€6,082 | +236.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,569 | €8,651 | +€6,082 | +236.8% |
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 10 October 2026 via checked.be.