KABUTEC: 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.
KABUTEC
Largest movements
- Deferred charges and accrued income +€9,006
up €9,006 (+906.5%), from €993 to €10,000
- Cash -€8,544
down €8,544 (-35.7%), from €23,959 to €15,415
mainly Investment in fixed assets (net) (-€62,826) and Contributions, distributions and other (-€34,000)
- Tangible fixed assets +€7,633
up €7,633 (+2.9%), from €262,005 to €269,639
of which Furniture and vehicles: +€43,059
- Trade debts +€36,801
up €36,801 (+74.2%), from €49,587 to €86,387
- Reserves -€34,000
down €34,000 (-11.3%), from €300,945 to €266,945
- Debts after one year +€14,803
up €14,803 (+20.0%), from €73,846 to €88,648
- Gross operating margin -€75,082
down €75,082 (-51.2%), from €146,762 to €71,680
- Taxes -€24,977
down €24,977 (-71.1%), from €35,134 to €10,156
- Depreciation +€7,144
up €7,144 (+14.9%), from €48,049 to €55,193
- Other operating charges +€4,422
up €4,422 (+112.4%), from €3,934 to €8,357
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 | €508,207 | €514,855 | +€6,648 | +1.3% |
| Fixed assets | 21/28 | €262,168 | €269,802 | +€7,633 | +2.9% |
| Tangible fixed assets | 22/27 | €262,005 | €269,639 | +€7,633 | +2.9% |
| Land and buildings | 22 | €259,444 | €224,423 | -€35,021 | -13.5% |
| Plant, machinery and equipment | 23 | €810 | €405 | -€405 | -50.0% |
| Furniture and vehicles | 24 | €1,752 | €44,811 | +€43,059 | +2458.4% |
| Financial fixed assets | 28 | €163 | €163 | = | 0.0% |
| Current assets | 29/58 | €246,039 | €245,053 | -€986 | -0.4% |
| Amounts receivable within one year | 40/41 | €221,087 | €219,639 | -€1,448 | -0.7% |
| Trade receivables | 40 | €73,975 | €79,110 | +€5,135 | +6.9% |
| Other amounts receivable | 41 | €147,112 | €140,529 | -€6,583 | -4.5% |
| Cash at bank and in hand | 54/58 | €23,959 | €15,415 | -€8,544 | -35.7% |
| Deferred charges and accrued income | 490/1 | €993 | €10,000 | +€9,006 | +906.5% |
| Total equity and liabilities | 10/49 | €508,207 | €514,855 | +€6,648 | +1.3% |
| Equity | 10/15 | €319,545 | €284,048 | -€35,497 | -11.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €300,945 | €266,945 | -€34,000 | -11.3% |
| Distributable reserves | 133 | €300,945 | €266,945 | -€34,000 | -11.3% |
| Profit (loss) carried forward | 14 | - | -€1,497 | -€1,497 | |
| Amounts payable | 17/49 | €188,662 | €230,807 | +€42,145 | +22.3% |
| Amounts payable after more than one year | 17 | €73,846 | €88,648 | +€14,803 | +20.0% |
| Financial debts | 170/4 | €73,846 | €88,648 | +€14,803 | +20.0% |
| Amounts payable within one year | 42/48 | €113,706 | €140,786 | +€27,080 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €31,622 | €26,585 | -€5,037 | -15.9% |
| Trade debts | 44 | €49,587 | €86,387 | +€36,801 | +74.2% |
| Suppliers | 440/4 | €49,587 | €86,387 | +€36,801 | +74.2% |
| Taxes, remuneration and social security | 45 | €32,497 | €27,814 | -€4,684 | -14.4% |
| Taxes | 450/3 | €32,497 | €27,814 | -€4,684 | -14.4% |
| Accrued charges and deferred income | 492/3 | €1,110 | €1,372 | +€262 | +23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,049 | €55,193 | +€7,144 | +14.9% |
| Other operating charges | 640/8 | €3,934 | €8,357 | +€4,422 | +112.4% |
| Gross operating margin | 9900 | €146,762 | €71,680 | -€75,082 | -51.2% |
| Operating profit (loss) | 9901 | €94,779 | €8,130 | -€86,648 | -91.4% |
| Financial income | 75/76B | €7,826 | €7,197 | -€629 | -8.0% |
| Recurring financial income | 75 | €7,826 | €7,197 | -€629 | -8.0% |
| Financial charges | 65/66B | €7,808 | €6,669 | -€1,140 | -14.6% |
| Recurring financial charges | 65 | €7,808 | €6,669 | -€1,140 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €94,796 | €8,659 | -€86,137 | -90.9% |
| Income taxes | 67/77 | €35,134 | €10,156 | -€24,977 | -71.1% |
| Profit (loss) for the period | 9904 | €59,663 | -€1,497 | -€61,160 | |
| Profit (loss) for the period to be appropriated | 9905 | €59,663 | -€1,497 | -€61,160 |
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 2 October 2026 via checked.be.