KAAP: 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.
KAAP
Largest movements
- Cash +€14,567
up €14,567 (+18.5%), from €78,682 to €93,248
mainly Net result for the year (+€32,048) and Tax, wage and social debts (+€6,188)
- Receivables within one year +€11,793
up €11,793 (+42.5%), from €27,777 to €39,570
of which Trade receivables: +€11,793
- Tangible fixed assets +€5,578
up €5,578 (+32.5%), from €17,157 to €22,735
of which Furniture and vehicles: +€8,154
- Reserves +€32,048
up €32,048 (+36.6%), from €87,599 to €119,648
- Other debts -€7,773
down €7,773 (-71.7%), from €10,835 to €3,062
- Tax, wage and social debts +€6,188
up €6,188 (+28.0%), from €22,134 to €28,322
- Trade debts +€2,014
up €2,014 (+45.0%), from €4,479 to €6,492
- Gross operating margin +€14,973
up €14,973 (+38.9%), from €38,472 to €53,446
- Taxes +€4,481
up €4,481 (+43.7%), from €10,262 to €14,743
- Depreciation +€637
up €637 (+21.4%), from €2,974 to €3,612
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 | €130,047 | €162,778 | +€32,731 | +25.2% |
| Fixed assets | 21/28 | €17,157 | €22,735 | +€5,578 | +32.5% |
| Tangible fixed assets | 22/27 | €17,157 | €22,735 | +€5,578 | +32.5% |
| Plant, machinery and equipment | 23 | €258 | €52 | -€206 | -80.0% |
| Furniture and vehicles | 24 | €1,144 | €9,298 | +€8,154 | +712.9% |
| Other tangible fixed assets | 26 | €15,755 | €13,386 | -€2,370 | -15.0% |
| Current assets | 29/58 | €112,891 | €140,043 | +€27,153 | +24.1% |
| Amounts receivable within one year | 40/41 | €27,777 | €39,570 | +€11,793 | +42.5% |
| Trade receivables | 40 | €27,777 | €39,570 | +€11,793 | +42.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €78,682 | €93,248 | +€14,567 | +18.5% |
| Deferred charges and accrued income | 490/1 | €6,432 | €7,225 | +€793 | +12.3% |
| Total equity and liabilities | 10/49 | €130,047 | €162,778 | +€32,731 | +25.2% |
| Equity | 10/15 | €92,599 | €124,648 | +€32,048 | +34.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €87,599 | €119,648 | +€32,048 | +36.6% |
| Distributable reserves | 133 | €87,599 | €119,648 | +€32,048 | +36.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €37,448 | €38,131 | +€683 | +1.8% |
| Amounts payable within one year | 42/48 | €37,448 | €37,877 | +€429 | +1.1% |
| Trade debts | 44 | €4,479 | €6,492 | +€2,014 | +45.0% |
| Suppliers | 440/4 | €4,479 | €6,492 | +€2,014 | +45.0% |
| Taxes, remuneration and social security | 45 | €22,134 | €28,322 | +€6,188 | +28.0% |
| Taxes | 450/3 | €22,134 | €28,322 | +€6,188 | +28.0% |
| Other amounts payable | 47/48 | €10,835 | €3,062 | -€7,773 | -71.7% |
| Accrued charges and deferred income | 492/3 | - | €254 | +€254 | |
| Non-recurring operating income | 76A | €1,200 | €0 | -€1,200 | -100.0% |
| Remuneration, social security and pensions | 62 | €62 | €243 | +€181 | +290.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,974 | €3,612 | +€637 | +21.4% |
| Other operating charges | 640/8 | €2,628 | €2,319 | -€308 | -11.7% |
| Gross operating margin | 9900 | €38,472 | €53,446 | +€14,973 | +38.9% |
| Operating profit (loss) | 9901 | €32,808 | €47,271 | +€14,463 | +44.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €448 | €480 | +€32 | +7.1% |
| Recurring financial charges | 65 | €448 | €480 | +€32 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €32,360 | €46,791 | +€14,431 | +44.6% |
| Income taxes | 67/77 | €10,262 | €14,743 | +€4,481 | +43.7% |
| Profit (loss) for the period | 9904 | €22,098 | €32,048 | +€9,950 | +45.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,098 | €32,048 | +€9,950 | +45.0% |
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 3 October 2026 via checked.be.