KAAD: what changed
Two fiscal 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.
KAAD
Largest movements
- Tangible fixed assets -€7,418
down €7,418 (-7.8%), from €94,725 to €87,307
- Receivables within one year +€3,085
up €3,085 (+173.8%), from €1,775 to €4,859
of which Trade receivables: +€2,335
- Debts after one year -€16,426
down €16,426 (-28.4%), from €57,807 to €41,381
- Other debts +€11,891
up €11,891 (+89.8%), from €13,246 to €25,137
- Trade debts +€2,999
up €2,999 (+193.4%), from €1,551 to €4,550
- Profit (loss) carried forward -€2,780
down €2,780 (-3.9%), from €71,777 to €68,997
- Gross operating margin -€2,165
down €2,165 (-17.0%), from €12,710 to €10,545
- Depreciation -€934
down €934 (-11.2%), from €8,352 to €7,418
- Other operating charges -€724
down €724 (-27.2%), from €2,661 to €1,938
- Financial charges +€230
up €230 (+6.2%), from €3,739 to €3,969
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €184,353 | €180,019 | -€4,334 | -2.4% |
| Fixed assets | 21/28 | €94,725 | €87,307 | -€7,418 | -7.8% |
| Tangible fixed assets | 22/27 | €94,725 | €87,307 | -€7,418 | -7.8% |
| Land and buildings | 22 | €94,725 | €87,307 | -€7,418 | -7.8% |
| Current assets | 29/58 | €89,628 | €92,712 | +€3,085 | +3.4% |
| Amounts receivable after more than one year | 29 | €87,853 | €87,853 | = | 0.0% |
| Other amounts receivable | 291 | €87,853 | €87,853 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,775 | €4,859 | +€3,085 | +173.8% |
| Trade receivables | 40 | €850 | €3,185 | +€2,335 | +274.7% |
| Other amounts receivable | 41 | €925 | €1,674 | +€750 | +81.1% |
| Total equity and liabilities | 10/49 | €184,353 | €180,019 | -€4,334 | -2.4% |
| Equity | 10/15 | €92,237 | €89,457 | -€2,780 | -3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,777 | €68,997 | -€2,780 | -3.9% |
| Amounts payable | 17/49 | €92,116 | €90,562 | -€1,554 | -1.7% |
| Amounts payable after more than one year | 17 | €57,807 | €41,381 | -€16,426 | -28.4% |
| Financial debts | 170/4 | €57,807 | €41,381 | -€16,426 | -28.4% |
| Amounts payable within one year | 42/48 | €34,309 | €49,181 | +€14,872 | +43.3% |
| Current portion of amounts payable after more than one year | 42 | €16,786 | €17,194 | +€409 | +2.4% |
| Financial debts | 43 | €2,727 | €2,300 | -€427 | -15.7% |
| Credit institutions | 430/8 | €2,727 | €2,300 | -€427 | -15.7% |
| Trade debts | 44 | €1,551 | €4,550 | +€2,999 | +193.4% |
| Suppliers | 440/4 | €1,551 | €4,550 | +€2,999 | +193.4% |
| Other amounts payable | 47/48 | €13,246 | €25,137 | +€11,891 | +89.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,352 | €7,418 | -€934 | -11.2% |
| Other operating charges | 640/8 | €2,661 | €1,938 | -€724 | -27.2% |
| Gross operating margin | 9900 | €12,710 | €10,545 | -€2,165 | -17.0% |
| Operating profit (loss) | 9901 | €1,697 | €1,189 | -€508 | -29.9% |
| Financial charges | 65/66B | €3,739 | €3,969 | +€230 | +6.2% |
| Recurring financial charges | 65 | €3,739 | €3,969 | +€230 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,042 | -€2,780 | -€738 | -36.1% |
| Profit (loss) for the period | 9904 | -€2,042 | -€2,780 | -€738 | -36.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,042 | -€2,780 | -€738 | -36.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.