KAFPE: 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.
KAFPE
Largest movements
- Tangible fixed assets -€20,228
down €20,228 (-3.9%), from €514,544 to €494,316
of which Land and buildings: -€12,695
- Cash -€14,980
down €14,980 (-36.6%), from €40,976 to €25,996
mainly Other debts (-€18,323) and Current investments (-€11,874)
- Current investments +€11,874
up €11,874 (+11.0%), from €107,504 to €119,379
- Other debts -€18,323
down €18,323 (-2.9%), from €622,892 to €604,568
- Gross operating margin +€6,381
up €6,381 (+23.7%), from €26,970 to €33,350
- Financial income -€5,643
down €5,643 (-55.9%), from €10,097 to €4,454
- Financial charges +€3,070
new in 2025: €3,070
- Other operating charges +€1,158
up €1,158 (+7.3%), from €15,836 to €16,994
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 | €664,832 | €643,345 | -€21,487 | -3.2% |
| Fixed assets | 21/28 | €514,544 | €494,316 | -€20,228 | -3.9% |
| Tangible fixed assets | 22/27 | €514,544 | €494,316 | -€20,228 | -3.9% |
| Land and buildings | 22 | €487,694 | €475,000 | -€12,695 | -2.6% |
| Plant, machinery and equipment | 23 | €2,207 | €1,253 | -€954 | -43.2% |
| Furniture and vehicles | 24 | €24,643 | €18,063 | -€6,580 | -26.7% |
| Current assets | 29/58 | €150,287 | €149,029 | -€1,258 | -0.8% |
| Amounts receivable within one year | 40/41 | €260 | €715 | +€455 | +174.9% |
| Other amounts receivable | 41 | €260 | €715 | +€455 | +174.9% |
| Current investments | 50/53 | €107,504 | €119,379 | +€11,874 | +11.0% |
| Cash at bank and in hand | 54/58 | €40,976 | €25,996 | -€14,980 | -36.6% |
| Deferred charges and accrued income | 490/1 | €1,547 | €2,939 | +€1,392 | +90.0% |
| Total equity and liabilities | 10/49 | €664,832 | €643,345 | -€21,487 | -3.2% |
| Equity | 10/15 | €37,914 | €35,185 | -€2,728 | -7.2% |
| Contributions | 10/11 | €421,419 | €421,419 | = | 0.0% |
| Capital | 10 | €421,419 | €421,419 | = | 0.0% |
| Issued capital | 100 | €421,419 | €421,419 | = | 0.0% |
| Revaluation surpluses | 12 | €2,800 | €2,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€386,305 | -€389,034 | -€2,728 | -0.7% |
| Amounts payable | 17/49 | €626,918 | €608,160 | -€18,758 | -3.0% |
| Amounts payable within one year | 42/48 | €626,918 | €608,160 | -€18,758 | -3.0% |
| Trade debts | 44 | €4,026 | €3,591 | -€435 | -10.8% |
| Suppliers | 440/4 | €4,026 | €3,591 | -€435 | -10.8% |
| Other amounts payable | 47/48 | €622,892 | €604,568 | -€18,323 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,367 | €20,228 | -€138 | -0.7% |
| Other operating charges | 640/8 | €15,836 | €16,994 | +€1,158 | +7.3% |
| Gross operating margin | 9900 | €26,970 | €33,350 | +€6,381 | +23.7% |
| Operating profit (loss) | 9901 | -€9,233 | -€3,872 | +€5,361 | +58.1% |
| Financial income | 75/76B | €10,097 | €4,454 | -€5,643 | -55.9% |
| Recurring financial income | 75 | €10,097 | €4,454 | -€5,643 | -55.9% |
| Financial charges | 65/66B | - | €3,070 | +€3,070 | |
| Recurring financial charges | 65 | - | €3,070 | +€3,070 | |
| Profit (loss) for the period before taxes | 9903 | €864 | -€2,488 | -€3,352 | |
| Income taxes | 67/77 | €240 | €240 | = | 0.0% |
| Profit (loss) for the period | 9904 | €624 | -€2,728 | -€3,352 | |
| Profit (loss) for the period to be appropriated | 9905 | €624 | -€2,728 | -€3,352 |
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 11 October 2026 via checked.be.