KAAP: 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.
KAAP
Largest movements
- Tangible fixed assets +€67,179
up €67,179 (+1,893%), from €3,549 to €70,728
of which Furniture and vehicles: +€67,565
- Cash -€8,714
down €8,714 (-88.4%), from €9,862 to €1,149
mainly Investment in fixed assets (net) (-€70,127) and Contributions, distributions and other (-€11,981)
- Receivables within one year +€6,903
up €6,903 (+113%), from €6,120 to €13,023
- Intangible fixed assets -€4,683
down €4,683 (-25.2%), from €18,593 to €13,909
- Stocks and contracts -€3,145
no longer reported in 2025 (was €3,145)
- Debts after one year +€43,027
new in 2025: €43,027
- Current portion of long-term debt +€6,446
new in 2025: €6,446
- Profit (loss) carried forward +€5,737
up €5,737 (+47.9%), from €11,981 to €17,717
- Tax, wage and social debts +€3,835
up €3,835 (+214%), from €1,793 to €5,628
- Other debts -€3,425
down €3,425 (-13.5%), from €25,429 to €22,004
- Gross operating margin +€4,093
up €4,093 (+15.4%), from €26,524 to €30,617
- Taxes -€2,141
down €2,141 (-40.2%), from €5,323 to €3,182
- Depreciation +€2,044
up €2,044 (+36.6%), from €5,588 to €7,632
- Other operating charges +€312
up €312 (+28.5%), from €1,092 to €1,404
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 | €43,219 | €102,181 | +€58,962 | +136% |
| Fixed assets | 21/28 | €22,142 | €84,637 | +€62,495 | +282% |
| Intangible fixed assets | 21 | €18,593 | €13,909 | -€4,683 | -25.2% |
| Tangible fixed assets | 22/27 | €3,549 | €70,728 | +€67,179 | +1,893% |
| Plant, machinery and equipment | 23 | €1,138 | €752 | -€386 | -33.9% |
| Furniture and vehicles | 24 | €2,412 | €69,976 | +€67,565 | +2,802% |
| Current assets | 29/58 | €21,077 | €17,543 | -€3,534 | -16.8% |
| Stocks and contracts in progress | 3 | €3,145 | - | -€3,145 | |
| Contracts in progress | 37 | €3,145 | - | -€3,145 | |
| Amounts receivable within one year | 40/41 | €6,120 | €13,023 | +€6,903 | +113% |
| Trade receivables | 40 | €6,120 | €13,023 | +€6,903 | +113% |
| Cash at bank and in hand | 54/58 | €9,862 | €1,149 | -€8,714 | -88.4% |
| Deferred charges and accrued income | 490/1 | €1,950 | €3,372 | +€1,422 | +72.9% |
| Total equity and liabilities | 10/49 | €43,219 | €102,181 | +€58,962 | +136% |
| Equity | 10/15 | €15,981 | €21,717 | +€5,737 | +35.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,981 | €17,717 | +€5,737 | +47.9% |
| Amounts payable | 17/49 | €27,238 | €80,463 | +€53,225 | +195% |
| Amounts payable after more than one year | 17 | - | €43,027 | +€43,027 | |
| Financial debts | 170/4 | - | €43,027 | +€43,027 | |
| Amounts payable within one year | 42/48 | €27,238 | €36,387 | +€9,149 | +33.6% |
| Current portion of amounts payable after more than one year | 42 | - | €6,446 | +€6,446 | |
| Trade debts | 44 | €16 | €2,310 | +€2,294 | +14,545% |
| Suppliers | 440/4 | €16 | €2,310 | +€2,294 | +14,545% |
| Taxes, remuneration and social security | 45 | €1,793 | €5,628 | +€3,835 | +214% |
| Taxes | 450/3 | €1,793 | €5,628 | +€3,835 | +214% |
| Other amounts payable | 47/48 | €25,429 | €22,004 | -€3,425 | -13.5% |
| Accrued charges and deferred income | 492/3 | - | €1,049 | +€1,049 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,588 | €7,632 | +€2,044 | +36.6% |
| Other operating charges | 640/8 | €1,092 | €1,404 | +€312 | +28.5% |
| Gross operating margin | 9900 | €26,524 | €30,617 | +€4,093 | +15.4% |
| Operating profit (loss) | 9901 | €19,844 | €21,581 | +€1,737 | +8.8% |
| Financial income | 75/76B | - | €49 | +€49 | |
| Recurring financial income | 75 | - | €49 | +€49 | |
| Financial charges | 65/66B | €677 | €731 | +€53 | +7.9% |
| Recurring financial charges | 65 | €677 | €731 | +€53 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €19,167 | €20,899 | +€1,732 | +9.0% |
| Income taxes | 67/77 | €5,323 | €3,182 | -€2,141 | -40.2% |
| Profit (loss) for the period | 9904 | €13,844 | €17,717 | +€3,873 | +28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,844 | €17,717 | +€3,873 | +28.0% |
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 15 October 2026 via checked.be.