KAAI 3: 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.
KAAI 3
Largest movements
- Tangible fixed assets -€20,656
down €20,656 (-34.0%), from €60,813 to €40,157
of which Plant, machinery and equipment: -€11,205
- Intangible fixed assets -€7,732
down €7,732 (-31.2%), from €24,749 to €17,016
- Receivables within one year +€7,559
up €7,559 (+2,579%), from €293 to €7,852
of which Trade receivables: +€7,433
- Profit (loss) carried forward -€15,892
down €15,892 (-57.5%), from -€27,659 to -€43,551
- Other debts +€14,835
up €14,835 (+192%), from €7,731 to €22,566
- Trade debts -€10,759
down €10,759 (-89.3%), from €12,051 to €1,292
- Debts after one year -€8,692
down €8,692 (-20.4%), from €42,560 to €33,868
- Current portion of long-term debt -€1,286
down €1,286 (-4.5%), from €28,302 to €27,016
- Gross operating margin -€19,192
down €19,192 (-32.0%), from €59,938 to €40,746
- Depreciation -€5,116
down €5,116 (-15.3%), from €33,504 to €28,388
- Staff costs -€3,647
down €3,647 (-12.2%), from €29,969 to €26,322
- Financial charges -€863
down €863 (-44.7%), from €1,931 to €1,068
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 | €107,577 | €86,578 | -€20,999 | -19.5% |
| Fixed assets | 21/28 | €85,561 | €57,173 | -€28,388 | -33.2% |
| Intangible fixed assets | 21 | €24,749 | €17,016 | -€7,732 | -31.2% |
| Tangible fixed assets | 22/27 | €60,813 | €40,157 | -€20,656 | -34.0% |
| Plant, machinery and equipment | 23 | €23,212 | €12,007 | -€11,205 | -48.3% |
| Furniture and vehicles | 24 | €11,944 | €6,683 | -€5,261 | -44.0% |
| Other tangible fixed assets | 26 | €25,657 | €21,467 | -€4,190 | -16.3% |
| Current assets | 29/58 | €22,016 | €29,405 | +€7,389 | +33.6% |
| Stocks and contracts in progress | 3 | €6,914 | €6,643 | -€271 | -3.9% |
| Stocks | 30/36 | €6,914 | €6,643 | -€271 | -3.9% |
| Amounts receivable within one year | 40/41 | €293 | €7,852 | +€7,559 | +2,579% |
| Trade receivables | 40 | - | €7,433 | +€7,433 | |
| Other amounts receivable | 41 | €293 | €419 | +€126 | +42.9% |
| Cash at bank and in hand | 54/58 | €14,809 | €14,910 | +€101 | +0.7% |
| Total equity and liabilities | 10/49 | €107,577 | €86,578 | -€20,999 | -19.5% |
| Equity | 10/15 | €16,277 | €385 | -€15,892 | -97.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €13,936 | €13,936 | = | 0.0% |
| Distributable reserves | 133 | €13,936 | €13,936 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,659 | -€43,551 | -€15,892 | -57.5% |
| Amounts payable | 17/49 | €91,300 | €86,194 | -€5,107 | -5.6% |
| Amounts payable after more than one year | 17 | €42,560 | €33,868 | -€8,692 | -20.4% |
| Financial debts | 170/4 | €42,560 | €33,868 | -€8,692 | -20.4% |
| Amounts payable within one year | 42/48 | €48,741 | €52,326 | +€3,585 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €28,302 | €27,016 | -€1,286 | -4.5% |
| Financial debts | 43 | - | €31 | +€31 | |
| Credit institutions | 430/8 | - | €31 | +€31 | |
| Trade debts | 44 | €12,051 | €1,292 | -€10,759 | -89.3% |
| Suppliers | 440/4 | €12,051 | €1,292 | -€10,759 | -89.3% |
| Taxes, remuneration and social security | 45 | €656 | €1,420 | +€764 | +116% |
| Taxes | 450/3 | €600 | €1,385 | +€785 | +131% |
| Remuneration and social security | 454/9 | €57 | €35 | -€22 | -38.0% |
| Other amounts payable | 47/48 | €7,731 | €22,566 | +€14,835 | +192% |
| Remuneration, social security and pensions | 62 | €29,969 | €26,322 | -€3,647 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,504 | €28,388 | -€5,116 | -15.3% |
| Other operating charges | 640/8 | €1,127 | €603 | -€524 | -46.5% |
| Non-recurring operating charges | 66A | - | €53 | +€53 | |
| Gross operating margin | 9900 | €59,938 | €40,746 | -€19,192 | -32.0% |
| Operating profit (loss) | 9901 | -€4,662 | -€14,620 | -€9,958 | -214% |
| Financial income | 75/76B | €88 | €15 | -€74 | -83.5% |
| Recurring financial income | 75 | €88 | €15 | -€74 | -83.5% |
| Financial charges | 65/66B | €1,931 | €1,068 | -€863 | -44.7% |
| Recurring financial charges | 65 | €1,931 | €1,068 | -€863 | -44.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,505 | -€15,674 | -€9,169 | -141% |
| Income taxes | 67/77 | €247 | €218 | -€29 | -11.8% |
| Profit (loss) for the period | 9904 | -€6,752 | -€15,892 | -€9,140 | -135% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,752 | -€15,892 | -€9,140 | -135% |
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 23 October 2026 via checked.be.