KAFIDOS: 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.
KAFIDOS
Largest movements
- Receivables within one year +€69,067
up €69,067 (+66.1%), from €104,415 to €173,483
of which Other amounts receivable: +€69,047
- Cash -€52,386
down €52,386 (-42.1%), from €124,563 to €72,177
mainly Receivables within one year (-€69,067) and Other debts (-€60,915)
- Tangible fixed assets -€43,427
down €43,427 (-16.3%), from €266,757 to €223,329
of which Plant, machinery and equipment: -€179,042
- Deferred charges and accrued income -€18,985
down €18,985 (-77.7%), from €24,446 to €5,461
- Stocks and contracts +€12,586
up €12,586 (+35.4%), from €35,566 to €48,152
- Other debts -€60,915
down €60,915 (-98.1%), from €62,081 to €1,166
- Advances received +€27,461
up €27,461 (+549.2%), from €5,000 to €32,461
- Trade debts -€10,689
down €10,689 (-8.8%), from €121,580 to €110,891
- Current portion of long-term debt +€6,176
up €6,176 (+23.2%), from €26,640 to €32,816
- Gross operating margin +€58,584
up €58,584 (+12.9%), from €455,899 to €514,483
- Staff costs +€50,445
up €50,445 (+14.8%), from €341,108 to €391,553
- Financial charges +€14,640
up €14,640 (+133.7%), from €10,953 to €25,593
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 | €555,747 | €522,603 | -€33,144 | -6.0% |
| Fixed assets | 21/28 | €266,757 | €223,329 | -€43,427 | -16.3% |
| Tangible fixed assets | 22/27 | €266,757 | €223,329 | -€43,427 | -16.3% |
| Plant, machinery and equipment | 23 | €232,503 | €53,461 | -€179,042 | -77.0% |
| Furniture and vehicles | 24 | €34,254 | €39,290 | +€5,036 | +14.7% |
| Other tangible fixed assets | 26 | - | €130,579 | +€130,579 | |
| Current assets | 29/58 | €288,990 | €299,273 | +€10,283 | +3.6% |
| Stocks and contracts in progress | 3 | €35,566 | €48,152 | +€12,586 | +35.4% |
| Stocks | 30/36 | €35,566 | €48,152 | +€12,586 | +35.4% |
| Amounts receivable within one year | 40/41 | €104,415 | €173,483 | +€69,067 | +66.1% |
| Trade receivables | 40 | €9,841 | €9,861 | +€20 | +0.2% |
| Other amounts receivable | 41 | €94,575 | €163,622 | +€69,047 | +73.0% |
| Cash at bank and in hand | 54/58 | €124,563 | €72,177 | -€52,386 | -42.1% |
| Deferred charges and accrued income | 490/1 | €24,446 | €5,461 | -€18,985 | -77.7% |
| Total equity and liabilities | 10/49 | €555,747 | €522,603 | -€33,144 | -6.0% |
| Equity | 10/15 | €239,777 | €240,770 | +€993 | +0.4% |
| Contributions | 10/11 | €67,303 | €67,303 | = | 0.0% |
| Reserves | 13 | €164,262 | €164,262 | = | 0.0% |
| Distributable reserves | 133 | €164,262 | €164,262 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,212 | €9,205 | +€993 | +12.1% |
| Amounts payable | 17/49 | €315,970 | €281,832 | -€34,137 | -10.8% |
| Amounts payable after more than one year | 17 | €43,355 | €45,538 | +€2,184 | +5.0% |
| Financial debts | 170/4 | €43,355 | €45,538 | +€2,184 | +5.0% |
| Amounts payable within one year | 42/48 | €272,615 | €236,014 | -€36,601 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €26,640 | €32,816 | +€6,176 | +23.2% |
| Financial debts | 43 | - | €48 | +€48 | |
| Credit institutions | 430/8 | - | €48 | +€48 | |
| Trade debts | 44 | €121,580 | €110,891 | -€10,689 | -8.8% |
| Suppliers | 440/4 | €121,580 | €110,891 | -€10,689 | -8.8% |
| Advances received on contracts in progress | 46 | €5,000 | €32,461 | +€27,461 | +549.2% |
| Taxes, remuneration and social security | 45 | €57,313 | €58,632 | +€1,319 | +2.3% |
| Taxes | 450/3 | €33,447 | €31,518 | -€1,929 | -5.8% |
| Remuneration and social security | 454/9 | €23,866 | €27,114 | +€3,248 | +13.6% |
| Other amounts payable | 47/48 | €62,081 | €1,166 | -€60,915 | -98.1% |
| Accrued charges and deferred income | 492/3 | - | €280 | +€280 | |
| Non-recurring operating income | 76A | - | €12,957 | +€12,957 | |
| Remuneration, social security and pensions | 62 | €341,108 | €391,553 | +€50,445 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,649 | €75,706 | -€1,943 | -2.5% |
| Other operating charges | 640/8 | €15,963 | €16,796 | +€833 | +5.2% |
| Gross operating margin | 9900 | €455,899 | €514,483 | +€58,584 | +12.9% |
| Operating profit (loss) | 9901 | €21,179 | €30,428 | +€9,249 | +43.7% |
| Financial income | 75/76B | €2,462 | €1,961 | -€501 | -20.3% |
| Recurring financial income | 75 | €2,462 | €1,961 | -€501 | -20.3% |
| Financial charges | 65/66B | €10,953 | €25,593 | +€14,640 | +133.7% |
| Recurring financial charges | 65 | €10,953 | €25,593 | +€14,640 | +133.7% |
| Profit (loss) for the period before taxes | 9903 | €12,688 | €6,796 | -€5,892 | -46.4% |
| Income taxes | 67/77 | €4,476 | €4,137 | -€339 | -7.6% |
| Profit (loss) for the period | 9904 | €8,212 | €2,659 | -€5,553 | -67.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,212 | €2,659 | -€5,553 | -67.6% |
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 9 October 2026 via checked.be.