KAFINCO: 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.
KAFINCO
Largest movements
- Cash -€80,766
down €80,766 (-47.8%), from €169,101 to €88,334
mainly Debts after one year (-€581,620) and Investment in fixed assets (net) (-€109,277)
- Tangible fixed assets -€53,211
down €53,211 (-2.4%), from €2.2m to €2.2m
of which Land and buildings: -€72,842
- Debts after one year -€581,620
down €581,620 (-48.7%), from €1.2m to €612,908
- Other debts +€546,032
up €546,032 (+167%), from €327,602 to €873,633
- Current portion of long-term debt -€58,240
down €58,240 (-40.2%), from €144,860 to €86,620
- Reserves -€50,743
down €50,743 (-5.9%), from €864,554 to €813,811
of which Distributable reserves: -€39,056
- Gross operating margin -€132,550
down €132,550 (-32.8%), from €404,172 to €271,623
- Depreciation -€80,468
down €80,468 (-33.1%), from €242,956 to €162,488
- Financial charges +€38,016
up €38,016 (+90.2%), from €42,144 to €80,160
- Taxes -€20,421
down €20,421 (-56.3%), from €36,296 to €15,876
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 | €2,664,821 | €2,536,152 | -€128,669 | -4.8% |
| Fixed assets | 21/28 | €2,231,691 | €2,178,480 | -€53,211 | -2.4% |
| Tangible fixed assets | 22/27 | €2,231,691 | €2,178,480 | -€53,211 | -2.4% |
| Land and buildings | 22 | €2,215,878 | €2,143,036 | -€72,842 | -3.3% |
| Plant, machinery and equipment | 23 | €10,937 | €5,684 | -€5,253 | -48.0% |
| Furniture and vehicles | 24 | €4,875 | €29,760 | +€24,884 | +510% |
| Current assets | 29/58 | €433,130 | €357,673 | -€75,457 | -17.4% |
| Amounts receivable within one year | 40/41 | €12,199 | €22,787 | +€10,589 | +86.8% |
| Trade receivables | 40 | €6,324 | €13,626 | +€7,302 | +115% |
| Other amounts receivable | 41 | €5,875 | €9,161 | +€3,287 | +55.9% |
| Current investments | 50/53 | €247,759 | €242,212 | -€5,547 | -2.2% |
| Cash at bank and in hand | 54/58 | €169,101 | €88,334 | -€80,766 | -47.8% |
| Deferred charges and accrued income | 490/1 | €4,072 | €4,339 | +€268 | +6.6% |
| Total equity and liabilities | 10/49 | €2,664,821 | €2,536,152 | -€128,669 | -4.8% |
| Equity | 10/15 | €883,154 | €832,411 | -€50,743 | -5.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €864,554 | €813,811 | -€50,743 | -5.9% |
| Tax-exempt reserves | 132 | €201,290 | €189,604 | -€11,686 | -5.8% |
| Distributable reserves | 133 | €663,264 | €624,208 | -€39,056 | -5.9% |
| Provisions and deferred taxes | 16 | €67,494 | €63,599 | -€3,895 | -5.8% |
| Deferred taxes | 168 | €67,494 | €63,599 | -€3,895 | -5.8% |
| Amounts payable | 17/49 | €1,714,172 | €1,640,142 | -€74,030 | -4.3% |
| Amounts payable after more than one year | 17 | €1,194,528 | €612,908 | -€581,620 | -48.7% |
| Financial debts | 170/4 | €1,194,528 | €612,908 | -€581,620 | -48.7% |
| Amounts payable within one year | 42/48 | €504,815 | €988,721 | +€483,906 | +95.9% |
| Current portion of amounts payable after more than one year | 42 | €144,860 | €86,620 | -€58,240 | -40.2% |
| Financial debts | 43 | €456 | - | -€456 | |
| Credit institutions | 430/8 | €456 | - | -€456 | |
| Trade debts | 44 | €13,489 | €5,411 | -€8,078 | -59.9% |
| Suppliers | 440/4 | €13,489 | €5,411 | -€8,078 | -59.9% |
| Taxes, remuneration and social security | 45 | €18,409 | €23,057 | +€4,647 | +25.2% |
| Taxes | 450/3 | €18,409 | €23,057 | +€4,647 | +25.2% |
| Other amounts payable | 47/48 | €327,602 | €873,633 | +€546,032 | +167% |
| Accrued charges and deferred income | 492/3 | €14,830 | €38,514 | +€23,684 | +160% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €242,956 | €162,488 | -€80,468 | -33.1% |
| Other operating charges | 640/8 | €11,009 | €6,999 | -€4,010 | -36.4% |
| Gross operating margin | 9900 | €404,172 | €271,623 | -€132,550 | -32.8% |
| Operating profit (loss) | 9901 | €150,207 | €102,136 | -€48,072 | -32.0% |
| Financial income | 75/76B | €8,651 | €10,981 | +€2,329 | +26.9% |
| Recurring financial income | 75 | €8,651 | €10,981 | +€2,329 | +26.9% |
| Financial charges | 65/66B | €42,144 | €80,160 | +€38,016 | +90.2% |
| Recurring financial charges | 65 | €42,144 | €80,160 | +€38,016 | +90.2% |
| Profit (loss) for the period before taxes | 9903 | €116,714 | €32,956 | -€83,758 | -71.8% |
| Transfer from deferred taxes | 780 | €3,895 | €3,895 | = | 0.0% |
| Income taxes | 67/77 | €36,296 | €15,876 | -€20,421 | -56.3% |
| Profit (loss) for the period | 9904 | €84,313 | €20,975 | -€63,338 | -75.1% |
| Transfer from tax-exempt reserves | 789 | €11,686 | €11,686 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €95,999 | €32,662 | -€63,338 | -66.0% |
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 26 October 2026 via checked.be.