Kaayman-Group: 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.
Kaayman-Group
Largest movements
- Receivables within one year -€61,620
down €61,620 (-26.2%), from €235,609 to €173,989
of which Trade receivables: -€42,813
- Cash +€8,021
up €8,021 (+10.8%), from €73,969 to €81,990
mainly Receivables within one year (+€61,620) and Short-term financial debts (+€51,364)
- Deferred charges and accrued income +€5,475
up €5,475 (+48.6%), from €11,271 to €16,745
- Tangible fixed assets -€4,423
down €4,423 (-8.9%), from €49,686 to €45,263
of which Plant, machinery and equipment: -€3,887
- Current portion of long-term debt -€59,326
down €59,326 (-71.3%), from €83,222 to €23,895
- Short-term financial debts +€51,364
new in 2025: €51,364
- Tax, wage and social debts -€19,999
down €19,999 (-52.7%), from €37,982 to €17,983
of which Taxes: -€11,011
- Debts after one year -€17,131
down €17,131 (-79.6%), from €21,514 to €4,383
- Trade debts -€13,149
down €13,149 (-14.4%), from €91,314 to €78,165
- Gross operating margin +€38,462
up €38,462 (+13.2%), from €291,636 to €330,098
- Staff costs +€25,880
up €25,880 (+10.4%), from €248,482 to €274,362
- Financial charges +€12,706
up €12,706 (+469%), from €2,709 to €15,415
- Depreciation +€3,661
up €3,661 (+20.8%), from €17,615 to €21,276
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 | €371,301 | €318,753 | -€52,548 | -14.2% |
| Fixed assets | 21/28 | €50,452 | €46,029 | -€4,423 | -8.8% |
| Tangible fixed assets | 22/27 | €49,686 | €45,263 | -€4,423 | -8.9% |
| Land and buildings | 22 | €1,125 | €776 | -€349 | -31.0% |
| Plant, machinery and equipment | 23 | €37,750 | €33,863 | -€3,887 | -10.3% |
| Furniture and vehicles | 24 | €10,811 | €10,623 | -€188 | -1.7% |
| Financial fixed assets | 28 | €766 | €766 | = | 0.0% |
| Current assets | 29/58 | €320,849 | €272,724 | -€48,124 | -15.0% |
| Amounts receivable within one year | 40/41 | €235,609 | €173,989 | -€61,620 | -26.2% |
| Trade receivables | 40 | €202,217 | €159,404 | -€42,813 | -21.2% |
| Other amounts receivable | 41 | €33,392 | €14,585 | -€18,807 | -56.3% |
| Cash at bank and in hand | 54/58 | €73,969 | €81,990 | +€8,021 | +10.8% |
| Deferred charges and accrued income | 490/1 | €11,271 | €16,745 | +€5,475 | +48.6% |
| Total equity and liabilities | 10/49 | €371,301 | €318,753 | -€52,548 | -14.2% |
| Equity | 10/15 | €134,036 | €142,734 | +€8,698 | +6.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €129,036 | €137,734 | +€8,698 | +6.7% |
| Distributable reserves | 133 | €129,036 | €137,734 | +€8,698 | +6.7% |
| Amounts payable | 17/49 | €237,264 | €176,019 | -€61,246 | -25.8% |
| Amounts payable after more than one year | 17 | €21,514 | €4,383 | -€17,131 | -79.6% |
| Financial debts | 170/4 | €21,514 | €4,383 | -€17,131 | -79.6% |
| Amounts payable within one year | 42/48 | €215,750 | €171,635 | -€44,115 | -20.4% |
| Current portion of amounts payable after more than one year | 42 | €83,222 | €23,895 | -€59,326 | -71.3% |
| Financial debts | 43 | - | €51,364 | +€51,364 | |
| Credit institutions | 430/8 | - | €51,364 | +€51,364 | |
| Trade debts | 44 | €91,314 | €78,165 | -€13,149 | -14.4% |
| Suppliers | 440/4 | €91,314 | €78,165 | -€13,149 | -14.4% |
| Advances received on contracts in progress | 46 | €3,232 | - | -€3,232 | |
| Taxes, remuneration and social security | 45 | €37,982 | €17,983 | -€19,999 | -52.7% |
| Taxes | 450/3 | €13,987 | €2,976 | -€11,011 | -78.7% |
| Remuneration and social security | 454/9 | €23,995 | €15,007 | -€8,988 | -37.5% |
| Other amounts payable | 47/48 | - | €229 | +€229 | |
| Remuneration, social security and pensions | 62 | €248,482 | €274,362 | +€25,880 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,615 | €21,276 | +€3,661 | +20.8% |
| Other operating charges | 640/8 | €1,554 | €1,263 | -€291 | -18.7% |
| Gross operating margin | 9900 | €291,636 | €330,098 | +€38,462 | +13.2% |
| Operating profit (loss) | 9901 | €23,985 | €33,197 | +€9,211 | +38.4% |
| Financial income | 75/76B | €232 | €19 | -€213 | -91.8% |
| Recurring financial income | 75 | €232 | €19 | -€213 | -91.8% |
| Financial charges | 65/66B | €2,709 | €15,415 | +€12,706 | +469% |
| Recurring financial charges | 65 | €2,709 | €15,415 | +€12,706 | +469% |
| Profit (loss) for the period before taxes | 9903 | €21,508 | €17,801 | -€3,707 | -17.2% |
| Income taxes | 67/77 | €6,866 | €9,103 | +€2,237 | +32.6% |
| Profit (loss) for the period | 9904 | €14,643 | €8,698 | -€5,945 | -40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,643 | €8,698 | -€5,945 | -40.6% |
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 28 October 2026 via checked.be.