KABANDY: 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.
KABANDY
Largest movements
- Receivables within one year +€169,035
up €169,035 (+35.4%), from €477,303 to €646,338
of which Other amounts receivable: +€135,480
- Current investments -€106,373
down €106,373 (-100.0%), from €106,380 to €7
- Cash +€61,783
up €61,783 (+568%), from €10,883 to €72,666
mainly Depreciation (+€454,522) and Accrued charges and deferred income (+€211,960)
- Accrued charges and deferred income +€211,960
up €211,960 (+43.8%), from €483,864 to €695,825
- Profit (loss) carried forward -€113,455
down €113,455 (-11.4%), from -€997,870 to -€1.1m
- Short-term financial debts +€107,293
up €107,293 (+391%), from €27,451 to €134,744
- Investment grants -€42,136
down €42,136 (-20.0%), from €210,679 to €168,543
- Debts after one year -€41,667
down €41,667 (-23.5%), from €177,083 to €135,417
- Depreciation +€85,188
up €85,188 (+23.1%), from €369,334 to €454,522
- Gross operating margin +€75,145
up €75,145 (+11.3%), from €667,804 to €742,949
- Staff costs +€42,003
up €42,003 (+10.9%), from €384,407 to €426,411
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 | €2,194,020 | €2,322,609 | +€128,589 | +5.9% |
| Fixed assets | 21/28 | €1,576,022 | €1,585,771 | +€9,750 | +0.6% |
| Intangible fixed assets | 21 | €1,565,843 | €1,574,131 | +€8,288 | +0.5% |
| Tangible fixed assets | 22/27 | €9,121 | €10,582 | +€1,462 | +16.0% |
| Furniture and vehicles | 24 | €9,121 | €10,582 | +€1,462 | +16.0% |
| Financial fixed assets | 28 | €1,058 | €1,058 | = | 0.0% |
| Current assets | 29/58 | €617,998 | €736,838 | +€118,840 | +19.2% |
| Amounts receivable within one year | 40/41 | €477,303 | €646,338 | +€169,035 | +35.4% |
| Trade receivables | 40 | €49,596 | €83,150 | +€33,554 | +67.7% |
| Other amounts receivable | 41 | €427,707 | €563,188 | +€135,480 | +31.7% |
| Current investments | 50/53 | €106,380 | €7 | -€106,373 | -100.0% |
| Cash at bank and in hand | 54/58 | €10,883 | €72,666 | +€61,783 | +568% |
| Deferred charges and accrued income | 490/1 | €23,432 | €17,827 | -€5,605 | -23.9% |
| Total equity and liabilities | 10/49 | €2,194,020 | €2,322,609 | +€128,589 | +5.9% |
| Equity | 10/15 | €1,339,140 | €1,183,549 | -€155,591 | -11.6% |
| Contributions | 10/11 | €2,126,331 | €2,126,331 | = | 0.0% |
| Capital | 10 | €2,126,331 | €2,126,331 | = | 0.0% |
| Issued capital | 100 | €2,126,331 | €2,126,331 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€997,870 | -€1,111,325 | -€113,455 | -11.4% |
| Investment grants | 15 | €210,679 | €168,543 | -€42,136 | -20.0% |
| Amounts payable | 17/49 | €854,880 | €1,139,061 | +€284,180 | +33.2% |
| Amounts payable after more than one year | 17 | €177,083 | €135,417 | -€41,667 | -23.5% |
| Financial debts | 170/4 | €177,083 | €135,417 | -€41,667 | -23.5% |
| Amounts payable within one year | 42/48 | €193,933 | €307,819 | +€113,887 | +58.7% |
| Current portion of amounts payable after more than one year | 42 | €52,083 | €52,083 | = | 0.0% |
| Financial debts | 43 | €27,451 | €134,744 | +€107,293 | +391% |
| Credit institutions | 430/8 | €27,451 | €134,744 | +€107,293 | +391% |
| Trade debts | 44 | €37,388 | €27,235 | -€10,153 | -27.2% |
| Suppliers | 440/4 | - | €27,235 | +€27,235 | |
| Bills of exchange payable | 441 | €37,388 | - | -€37,388 | |
| Taxes, remuneration and social security | 45 | €77,010 | €93,757 | +€16,747 | +21.7% |
| Taxes | 450/3 | €374 | €7,072 | +€6,698 | +1,792% |
| Remuneration and social security | 454/9 | €76,636 | €86,684 | +€10,048 | +13.1% |
| Accrued charges and deferred income | 492/3 | €483,864 | €695,825 | +€211,960 | +43.8% |
| Remuneration, social security and pensions | 62 | €384,407 | €426,411 | +€42,003 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €369,334 | €454,522 | +€85,188 | +23.1% |
| Other operating charges | 640/8 | €1,688 | €1,701 | +€13 | +0.8% |
| Gross operating margin | 9900 | €667,804 | €742,949 | +€75,145 | +11.3% |
| Operating profit (loss) | 9901 | -€87,625 | -€139,684 | -€52,060 | -59.4% |
| Financial income | 75/76B | €44,705 | €42,234 | -€2,471 | -5.5% |
| Recurring financial income | 75 | €44,705 | €42,234 | -€2,471 | -5.5% |
| Financial charges | 65/66B | €15,724 | €15,720 | -€4 | 0.0% |
| Recurring financial charges | 65 | €15,724 | €15,720 | -€4 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€58,644 | -€113,171 | -€54,527 | -93.0% |
| Income taxes | 67/77 | €363 | €285 | -€78 | -21.6% |
| Profit (loss) for the period | 9904 | -€59,007 | -€113,455 | -€54,449 | -92.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,007 | -€113,455 | -€54,449 | -92.3% |
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 18 October 2026 via checked.be.