Kaaiman: 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.
Kaaiman
Largest movements
- Receivables after one year -€115,000
no longer reported in 2025 (was €115,000)
- Cash -€54,072
down €54,072 (-58.6%), from €92,329 to €38,256
mainly Contributions, distributions and other (-€286,319) and Investment in fixed assets (net) (-€71,769)
- Tangible fixed assets +€27,574
up €27,574 (+10.2%), from €269,103 to €296,677
of which Plant, machinery and equipment: +€45,035
- Reserves -€127,009
down €127,009 (-39.0%), from €325,541 to €198,532
- Debts after one year -€40,806
down €40,806 (-17.4%), from €235,080 to €194,274
- Tax, wage and social debts +€24,100
up €24,100 (+302%), from €7,986 to €32,086
- Other debts +€10,133
up €10,133 (+3.3%), from €302,910 to €313,043
- Financial income -€2,777
down €2,777 (-81.8%), from €3,397 to €620
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 | €952,867 | €819,468 | -€133,399 | -14.0% |
| Fixed assets | 21/28 | €644,753 | €672,327 | +€27,574 | +4.3% |
| Tangible fixed assets | 22/27 | €269,103 | €296,677 | +€27,574 | +10.2% |
| Land and buildings | 22 | €62,704 | €58,789 | -€3,915 | -6.2% |
| Plant, machinery and equipment | 23 | €192,200 | €237,235 | +€45,035 | +23.4% |
| Furniture and vehicles | 24 | €14,199 | €653 | -€13,546 | -95.4% |
| Financial fixed assets | 28 | €375,650 | €375,650 | = | 0.0% |
| Current assets | 29/58 | €308,114 | €147,141 | -€160,973 | -52.2% |
| Amounts receivable after more than one year | 29 | €115,000 | - | -€115,000 | |
| Other amounts receivable | 291 | €115,000 | - | -€115,000 | |
| Amounts receivable within one year | 40/41 | €91,013 | €97,192 | +€6,178 | +6.8% |
| Trade receivables | 40 | €73,062 | €78,473 | +€5,411 | +7.4% |
| Other amounts receivable | 41 | €17,951 | €18,719 | +€767 | +4.3% |
| Cash at bank and in hand | 54/58 | €92,329 | €38,256 | -€54,072 | -58.6% |
| Deferred charges and accrued income | 490/1 | €9,772 | €11,693 | +€1,921 | +19.7% |
| Total equity and liabilities | 10/49 | €952,867 | €819,468 | -€133,399 | -14.0% |
| Equity | 10/15 | €335,541 | €208,532 | -€127,009 | -37.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €325,541 | €198,532 | -€127,009 | -39.0% |
| Distributable reserves | 133 | €325,541 | €198,532 | -€127,009 | -39.0% |
| Amounts payable | 17/49 | €617,326 | €610,936 | -€6,390 | -1.0% |
| Amounts payable after more than one year | 17 | €235,080 | €194,274 | -€40,806 | -17.4% |
| Financial debts | 170/4 | €235,080 | €194,274 | -€40,806 | -17.4% |
| Amounts payable within one year | 42/48 | €375,600 | €408,698 | +€33,099 | +8.8% |
| Current portion of amounts payable after more than one year | 42 | €39,405 | €40,806 | +€1,402 | +3.6% |
| Financial debts | 43 | €451 | €1,479 | +€1,027 | +228% |
| Credit institutions | 430/8 | €451 | €1,479 | +€1,027 | +228% |
| Trade debts | 44 | €24,848 | €21,285 | -€3,563 | -14.3% |
| Suppliers | 440/4 | €24,848 | €21,285 | -€3,563 | -14.3% |
| Taxes, remuneration and social security | 45 | €7,986 | €32,086 | +€24,100 | +302% |
| Taxes | 450/3 | €7,986 | €32,086 | +€24,100 | +302% |
| Other amounts payable | 47/48 | €302,910 | €313,043 | +€10,133 | +3.3% |
| Accrued charges and deferred income | 492/3 | €6,646 | €7,963 | +€1,317 | +19.8% |
| Non-recurring operating income | 76A | - | €6 | +€6 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,915 | €44,195 | +€280 | +0.6% |
| Other operating charges | 640/8 | €1,408 | €2,400 | +€993 | +70.5% |
| Gross operating margin | 9900 | €269,793 | €272,423 | +€2,630 | +1.0% |
| Operating profit (loss) | 9901 | €224,470 | €225,827 | +€1,357 | +0.6% |
| Financial income | 75/76B | €3,397 | €620 | -€2,777 | -81.8% |
| Recurring financial income | 75 | €3,397 | €620 | -€2,777 | -81.8% |
| Financial charges | 65/66B | €10,698 | €13,130 | +€2,433 | +22.7% |
| Recurring financial charges | 65 | €10,698 | €13,130 | +€2,433 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | €217,169 | €213,317 | -€3,852 | -1.8% |
| Income taxes | 67/77 | €55,839 | €54,007 | -€1,833 | -3.3% |
| Profit (loss) for the period | 9904 | €161,330 | €159,310 | -€2,020 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €161,330 | €159,310 | -€2,020 | -1.3% |
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 24 October 2026 via checked.be.