KAAT VAN DAELE: 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.
KAAT VAN DAELE
Largest movements
- Receivables within one year -€116,701
down €116,701 (-61.4%), from €190,143 to €73,442
of which Other amounts receivable: -€162,660
- Tangible fixed assets +€98,201
up €98,201 (+6.6%), from €1.5m to €1.6m
of which Land and buildings: +€98,911
- Stocks and contracts -€59,779
down €59,779 (-31.0%), from €192,685 to €132,906
- Cash +€56,407
up €56,407 (+77.4%), from €72,845 to €129,251
mainly Receivables within one year (+€116,701) and Stocks and contracts (+€59,779)
- Debts after one year -€72,301
down €72,301 (-4.4%), from €1.7m to €1.6m
- Reserves +€55,936
up €55,936 (+83.4%), from €67,095 to €123,031
- Gross operating margin +€50,339
up €50,339 (+31.5%), from €159,621 to €209,960
- Staff costs +€23,298
up €23,298 (+1,215%), from €1,918 to €25,216
- Depreciation +€17,582
up €17,582 (+47.1%), from €37,327 to €54,909
- Taxes +€9,161
new in 2025: €9,161
- Financial charges +€8,507
up €8,507 (+16.5%), from €51,639 to €60,145
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 | €1,957,965 | €1,935,192 | -€22,773 | -1.2% |
| Fixed assets | 21/28 | €1,500,464 | €1,597,900 | +€97,435 | +6.5% |
| Intangible fixed assets | 21 | €2,015 | €1,250 | -€765 | -38.0% |
| Tangible fixed assets | 22/27 | €1,498,449 | €1,596,650 | +€98,201 | +6.6% |
| Land and buildings | 22 | €1,490,294 | €1,589,205 | +€98,911 | +6.6% |
| Plant, machinery and equipment | 23 | €3,530 | €2,752 | -€778 | -22.0% |
| Furniture and vehicles | 24 | €4,625 | €4,693 | +€68 | +1.5% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €457,500 | €337,292 | -€120,208 | -26.3% |
| Stocks and contracts in progress | 3 | €192,685 | €132,906 | -€59,779 | -31.0% |
| Stocks | 30/36 | €192,685 | €132,906 | -€59,779 | -31.0% |
| Amounts receivable within one year | 40/41 | €190,143 | €73,442 | -€116,701 | -61.4% |
| Trade receivables | 40 | €15,644 | €61,603 | +€45,959 | +294% |
| Other amounts receivable | 41 | €174,499 | €11,839 | -€162,660 | -93.2% |
| Cash at bank and in hand | 54/58 | €72,845 | €129,251 | +€56,407 | +77.4% |
| Deferred charges and accrued income | 490/1 | €1,828 | €1,693 | -€135 | -7.4% |
| Total equity and liabilities | 10/49 | €1,957,965 | €1,935,192 | -€22,773 | -1.2% |
| Equity | 10/15 | €69,095 | €125,031 | +€55,936 | +81.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €67,095 | €123,031 | +€55,936 | +83.4% |
| Distributable reserves | 133 | €67,095 | €123,031 | +€55,936 | +83.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,888,870 | €1,810,161 | -€78,709 | -4.2% |
| Amounts payable after more than one year | 17 | €1,650,188 | €1,577,887 | -€72,301 | -4.4% |
| Financial debts | 170/4 | €1,650,188 | €1,577,887 | -€72,301 | -4.4% |
| Amounts payable within one year | 42/48 | €231,456 | €232,275 | +€819 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €69,812 | €72,301 | +€2,489 | +3.6% |
| Financial debts | 43 | €4 | €0 | -€4 | -100% |
| Credit institutions | 430/8 | €4 | €0 | -€4 | -100% |
| Trade debts | 44 | €62,436 | €64,835 | +€2,399 | +3.8% |
| Suppliers | 440/4 | €62,436 | €64,835 | +€2,399 | +3.8% |
| Advances received on contracts in progress | 46 | €52,903 | €38,325 | -€14,578 | -27.6% |
| Taxes, remuneration and social security | 45 | €17,584 | €30,262 | +€12,678 | +72.1% |
| Taxes | 450/3 | €16,097 | €27,157 | +€11,060 | +68.7% |
| Remuneration and social security | 454/9 | €1,487 | €3,105 | +€1,618 | +109% |
| Other amounts payable | 47/48 | €28,717 | €26,552 | -€2,164 | -7.5% |
| Accrued charges and deferred income | 492/3 | €7,227 | €0 | -€7,227 | -100% |
| Remuneration, social security and pensions | 62 | €1,918 | €25,216 | +€23,298 | +1,215% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,327 | €54,909 | +€17,582 | +47.1% |
| Other operating charges | 640/8 | €5,283 | €6,212 | +€929 | +17.6% |
| Gross operating margin | 9900 | €159,621 | €209,960 | +€50,339 | +31.5% |
| Operating profit (loss) | 9901 | €115,093 | €123,623 | +€8,530 | +7.4% |
| Financial income | 75/76B | €1,188 | €1,619 | +€431 | +36.3% |
| Recurring financial income | 75 | €1,188 | €1,619 | +€431 | +36.3% |
| Financial charges | 65/66B | €51,639 | €60,145 | +€8,507 | +16.5% |
| Recurring financial charges | 65 | €51,639 | €60,145 | +€8,507 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €64,643 | €65,097 | +€454 | +0.7% |
| Income taxes | 67/77 | - | €9,161 | +€9,161 | |
| Profit (loss) for the period | 9904 | €64,643 | €55,936 | -€8,707 | -13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €64,643 | €55,936 | -€8,707 | -13.5% |
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 25 October 2026 via checked.be.