KAASBOURGONDIER: what changed
KAASBOURGONDIER
Largest movements
- Cash -€13,166
down €13,166 (-54.1%), from €24,357 to €11,191
mainly Debts after one year (-€14,498) and Investment in fixed assets (net) (-€11,101)
- Tangible fixed assets -€5,947
down €5,947 (-7.3%), from €81,907 to €75,960
of which Furniture and vehicles: -€9,039
- Stocks and contracts +€2,630
up €2,630 (+22.2%), from €11,834 to €14,465
- Receivables within one year +€1,897
up €1,897 (+51.5%), from €3,682 to €5,578
of which Other amounts receivable: +€3,015
- Trade debts +€15,014
up €15,014 (+34.1%), from €44,015 to €59,029
- Debts after one year -€14,498
no longer reported in 2025 (was €14,498)
- Other debts -€9,686
down €9,686 (-69.5%), from €13,944 to €4,258
- Current portion of long-term debt -€4,401
down €4,401 (-23.3%), from €18,899 to €14,498
- Tax, wage and social debts -€1,671
down €1,671 (-80.9%), from €2,067 to €395
- Other operating charges +€3,760
up €3,760 (+280%), from €1,344 to €5,104
- Depreciation +€3,003
up €3,003 (+21.4%), from €14,045 to €17,048
- Gross operating margin -€2,023
down €2,023 (-7.2%), from €28,202 to €26,178
- Taxes -€1,671
down €1,671 (-86.6%), from €1,931 to €260
- Financial charges -€657
down €657 (-16.6%), from €3,954 to €3,297
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €121,779 | €107,193 | -€14,586 | -12.0% |
| Fixed assets | 21/28 | €81,907 | €75,960 | -€5,947 | -7.3% |
| Tangible fixed assets | 22/27 | €81,907 | €75,960 | -€5,947 | -7.3% |
| Plant, machinery and equipment | 23 | €1,994 | €5,086 | +€3,092 | +155% |
| Furniture and vehicles | 24 | €79,913 | €70,874 | -€9,039 | -11.3% |
| Current assets | 29/58 | €39,872 | €31,233 | -€8,639 | -21.7% |
| Stocks and contracts in progress | 3 | €11,834 | €14,465 | +€2,630 | +22.2% |
| Stocks | 30/36 | €11,834 | €14,465 | +€2,630 | +22.2% |
| Amounts receivable within one year | 40/41 | €3,682 | €5,578 | +€1,897 | +51.5% |
| Trade receivables | 40 | €1,119 | - | -€1,119 | |
| Other amounts receivable | 41 | €2,563 | €5,578 | +€3,015 | +118% |
| Cash at bank and in hand | 54/58 | €24,357 | €11,191 | -€13,166 | -54.1% |
| Total equity and liabilities | 10/49 | €121,779 | €107,193 | -€14,586 | -12.0% |
| Equity | 10/15 | €28,357 | €29,014 | +€656 | +2.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,757 | €10,414 | +€656 | +6.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €7,897 | €8,554 | +€656 | +8.3% |
| Amounts payable | 17/49 | €93,422 | €78,180 | -€15,242 | -16.3% |
| Amounts payable after more than one year | 17 | €14,498 | - | -€14,498 | |
| Financial debts | 170/4 | €14,498 | - | -€14,498 | |
| Amounts payable within one year | 42/48 | €78,924 | €78,180 | -€745 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €18,899 | €14,498 | -€4,401 | -23.3% |
| Trade debts | 44 | €44,015 | €59,029 | +€15,014 | +34.1% |
| Suppliers | 440/4 | €44,015 | €59,029 | +€15,014 | +34.1% |
| Taxes, remuneration and social security | 45 | €2,067 | €395 | -€1,671 | -80.9% |
| Taxes | 450/3 | €2,067 | €395 | -€1,671 | -80.9% |
| Other amounts payable | 47/48 | €13,944 | €4,258 | -€9,686 | -69.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,045 | €17,048 | +€3,003 | +21.4% |
| Other operating charges | 640/8 | €1,344 | €5,104 | +€3,760 | +280% |
| Gross operating margin | 9900 | €28,202 | €26,178 | -€2,023 | -7.2% |
| Operating profit (loss) | 9901 | €12,813 | €4,027 | -€8,787 | -68.6% |
| Financial income | 75/76B | - | €186 | +€186 | |
| Recurring financial income | 75 | - | €186 | +€186 | |
| Financial charges | 65/66B | €3,954 | €3,297 | -€657 | -16.6% |
| Recurring financial charges | 65 | €3,954 | €3,297 | -€657 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €8,859 | €916 | -€7,943 | -89.7% |
| Income taxes | 67/77 | €1,931 | €260 | -€1,671 | -86.6% |
| Profit (loss) for the period | 9904 | €6,928 | €656 | -€6,272 | -90.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,928 | €656 | -€6,272 | -90.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.