KAFIN: 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.
KAFIN
Largest movements
- Current investments +€200,000
new in 2025: €200,000
- Cash -€124,052
down €124,052 (-38.6%), from €321,283 to €197,231
mainly Current investments (-€200,000) and Contributions, distributions and other (-€66,309)
- Receivables within one year +€21,147
up €21,147 (+11.3%), from €186,810 to €207,957
of which Trade receivables: +€19,505
- Reserves +€45,726
up €45,726 (+12.5%), from €367,257 to €412,983
of which Distributable reserves: +€45,726
- Other debts +€39,536
up €39,536 (+60.8%), from €65,022 to €104,558
- Tax, wage and social debts +€9,672
up €9,672 (+26.8%), from €36,044 to €45,716
- Gross operating margin +€10,757
up €10,757 (+7.1%), from €150,680 to €161,437
- Depreciation -€3,822
down €3,822 (-64.6%), from €5,918 to €2,096
- Taxes +€3,778
up €3,778 (+8.4%), from €45,055 to €48,833
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 | €525,882 | €622,623 | +€96,741 | +18.4% |
| Fixed assets | 21/28 | €6,550 | €4,454 | -€2,096 | -32.0% |
| Tangible fixed assets | 22/27 | €6,199 | €4,103 | -€2,096 | -33.8% |
| Plant, machinery and equipment | 23 | €6,199 | €4,103 | -€2,096 | -33.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €351 | €351 | = | 0.0% |
| Current assets | 29/58 | €519,332 | €618,169 | +€98,837 | +19.0% |
| Amounts receivable within one year | 40/41 | €186,810 | €207,957 | +€21,147 | +11.3% |
| Trade receivables | 40 | €224 | €19,730 | +€19,505 | +8694.9% |
| Other amounts receivable | 41 | €186,585 | €188,227 | +€1,642 | +0.9% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €321,283 | €197,231 | -€124,052 | -38.6% |
| Deferred charges and accrued income | 490/1 | €11,240 | €12,981 | +€1,741 | +15.5% |
| Total equity and liabilities | 10/49 | €525,882 | €622,623 | +€96,741 | +18.4% |
| Equity | 10/15 | €420,400 | €466,126 | +€45,726 | +10.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €367,257 | €412,983 | +€45,726 | +12.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €365,397 | €411,123 | +€45,726 | +12.5% |
| Profit (loss) carried forward | 14 | €46,943 | €46,943 | = | 0.0% |
| Amounts payable | 17/49 | €105,482 | €156,496 | +€51,014 | +48.4% |
| Amounts payable within one year | 42/48 | €105,482 | €156,496 | +€51,014 | +48.4% |
| Trade debts | 44 | €4,417 | €6,223 | +€1,807 | +40.9% |
| Suppliers | 440/4 | €4,417 | €6,223 | +€1,807 | +40.9% |
| Taxes, remuneration and social security | 45 | €36,044 | €45,716 | +€9,672 | +26.8% |
| Taxes | 450/3 | €36,044 | €45,716 | +€9,672 | +26.8% |
| Other amounts payable | 47/48 | €65,022 | €104,558 | +€39,536 | +60.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,918 | €2,096 | -€3,822 | -64.6% |
| Other operating charges | 640/8 | €1,061 | €1,350 | +€289 | +27.3% |
| Gross operating margin | 9900 | €150,680 | €161,437 | +€10,757 | +7.1% |
| Operating profit (loss) | 9901 | €143,701 | €157,990 | +€14,289 | +9.9% |
| Financial income | 75/76B | €4,442 | €3,332 | -€1,110 | -25.0% |
| Recurring financial income | 75 | €4,442 | €3,332 | -€1,110 | -25.0% |
| Financial charges | 65/66B | €546 | €455 | -€91 | -16.7% |
| Recurring financial charges | 65 | €546 | €455 | -€91 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €147,598 | €160,868 | +€13,270 | +9.0% |
| Income taxes | 67/77 | €45,055 | €48,833 | +€3,778 | +8.4% |
| Profit (loss) for the period | 9904 | €102,543 | €112,035 | +€9,492 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €102,543 | €112,035 | +€9,492 | +9.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.