Kaay: 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.
Kaay
Largest movements
- Tangible fixed assets +€15,753
up €15,753 (+33.5%), from €46,964 to €62,717
of which Furniture and vehicles: +€21,229
- Receivables within one year +€4,105
up €4,105 (+181.4%), from €2,263 to €6,368
of which Trade receivables: +€4,670
- Cash -€3,318
down €3,318 (-7.5%), from €44,217 to €40,900
mainly Contributions, distributions and other (-€76,455) and Investment in fixed assets (net) (-€34,563)
- Other debts +€76,833
up €76,833 (+744.5%), from €10,321 to €87,153
- Profit (loss) carried forward -€62,919
no longer reported in 2025 (was €62,919)
- Debts after one year +€7,941
up €7,941 (+615.3%), from €1,291 to €9,232
- Trade debts -€4,126
down €4,126 (-98.9%), from €4,172 to €46
- Current portion of long-term debt -€3,896
down €3,896 (-35.2%), from €11,082 to €7,187
- Gross operating margin -€3,673
down €3,673 (-6.8%), from €54,386 to €50,713
- Taxes -€2,654
down €2,654 (-35.0%), from €7,592 to €4,938
- Other operating charges +€2,397
up €2,397 (+526.8%), from €455 to €2,852
- Staff costs +€2,115
up €2,115 (+27.9%), from €7,571 to €9,686
- Depreciation +€1,421
up €1,421 (+8.2%), from €17,388 to €18,809
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 | €96,577 | €113,030 | +€16,453 | +17.0% |
| Fixed assets | 21/28 | €46,964 | €62,717 | +€15,753 | +33.5% |
| Tangible fixed assets | 22/27 | €46,964 | €62,717 | +€15,753 | +33.5% |
| Plant, machinery and equipment | 23 | €21,716 | €16,241 | -€5,475 | -25.2% |
| Furniture and vehicles | 24 | €25,248 | €46,476 | +€21,229 | +84.1% |
| Current assets | 29/58 | €49,613 | €50,313 | +€700 | +1.4% |
| Stocks and contracts in progress | 3 | €2,252 | €2,039 | -€213 | -9.5% |
| Stocks | 30/36 | €2,252 | €2,039 | -€213 | -9.5% |
| Amounts receivable within one year | 40/41 | €2,263 | €6,368 | +€4,105 | +181.4% |
| Trade receivables | 40 | €1,425 | €6,095 | +€4,670 | +327.7% |
| Other amounts receivable | 41 | €838 | €273 | -€565 | -67.4% |
| Cash at bank and in hand | 54/58 | €44,217 | €40,900 | -€3,318 | -7.5% |
| Deferred charges and accrued income | 490/1 | €881 | €1,007 | +€125 | +14.2% |
| Total equity and liabilities | 10/49 | €96,577 | €113,030 | +€16,453 | +17.0% |
| Equity | 10/15 | €67,919 | €5,000 | -€62,919 | -92.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,919 | - | -€62,919 | |
| Amounts payable | 17/49 | €28,658 | €108,030 | +€79,373 | +277.0% |
| Amounts payable after more than one year | 17 | €1,291 | €9,232 | +€7,941 | +615.3% |
| Financial debts | 170/4 | €1,291 | €9,232 | +€7,941 | +615.3% |
| Amounts payable within one year | 42/48 | €27,199 | €95,523 | +€68,324 | +251.2% |
| Current portion of amounts payable after more than one year | 42 | €11,082 | €7,187 | -€3,896 | -35.2% |
| Trade debts | 44 | €4,172 | €46 | -€4,126 | -98.9% |
| Suppliers | 440/4 | €4,172 | €46 | -€4,126 | -98.9% |
| Taxes, remuneration and social security | 45 | €1,624 | €1,137 | -€486 | -30.0% |
| Taxes | 450/3 | €1,624 | €1,137 | -€486 | -30.0% |
| Other amounts payable | 47/48 | €10,321 | €87,153 | +€76,833 | +744.5% |
| Accrued charges and deferred income | 492/3 | €168 | €3,275 | +€3,107 | +1848.9% |
| Remuneration, social security and pensions | 62 | €7,571 | €9,686 | +€2,115 | +27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,388 | €18,809 | +€1,421 | +8.2% |
| Other operating charges | 640/8 | €455 | €2,852 | +€2,397 | +526.8% |
| Gross operating margin | 9900 | €54,386 | €50,713 | -€3,673 | -6.8% |
| Operating profit (loss) | 9901 | €28,972 | €19,365 | -€9,606 | -33.2% |
| Financial income | 75/76B | €1,034 | €28 | -€1,006 | -97.3% |
| Recurring financial income | 75 | €1,034 | €28 | -€1,006 | -97.3% |
| Financial charges | 65/66B | €1,029 | €920 | -€109 | -10.6% |
| Recurring financial charges | 65 | €1,029 | €920 | -€109 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €28,976 | €18,473 | -€10,503 | -36.2% |
| Income taxes | 67/77 | €7,592 | €4,938 | -€2,654 | -35.0% |
| Profit (loss) for the period | 9904 | €21,385 | €13,536 | -€7,849 | -36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,385 | €13,536 | -€7,849 | -36.7% |
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 7 October 2026 via checked.be.