KAGIMO: 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.
KAGIMO
Largest movements
- Stocks and contracts +€146,936
up €146,936 (+103.1%), from €142,460 to €289,396
- Receivables within one year -€71,061
down €71,061 (-92.6%), from €76,713 to €5,652
of which Other amounts receivable: -€74,868
- Tangible fixed assets -€62,166
down €62,166 (-7.3%), from €853,794 to €791,628
of which Land and buildings: -€68,161
- Short-term financial debts +€152,349
up €152,349 (+64.7%), from €235,291 to €387,641
- Debts after one year -€87,262
down €87,262 (-19.4%), from €450,594 to €363,332
- Profit (loss) carried forward -€56,909
down €56,909 (-98.3%), from -€57,878 to -€114,787
- Trade debts +€15,911
up €15,911 (+117.8%), from €13,507 to €29,418
- Accrued charges and deferred income -€12,500
down €12,500 (-48.4%), from €25,850 to €13,350
- Gross operating margin -€48,968
down €48,968 (-41.7%), from €117,505 to €68,538
- Financial charges -€28,001
down €28,001 (-40.2%), from €69,650 to €41,649
- Depreciation -€9,260
down €9,260 (-11.7%), from €79,058 to €69,799
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 | €1,229,011 | €1,240,246 | +€11,235 | +0.9% |
| Fixed assets | 21/28 | €994,053 | €931,887 | -€62,166 | -6.3% |
| Tangible fixed assets | 22/27 | €853,794 | €791,628 | -€62,166 | -7.3% |
| Land and buildings | 22 | €853,794 | €785,633 | -€68,161 | -8.0% |
| Furniture and vehicles | 24 | - | €5,995 | +€5,995 | |
| Financial fixed assets | 28 | €140,260 | €140,260 | = | 0.0% |
| Current assets | 29/58 | €234,957 | €308,359 | +€73,401 | +31.2% |
| Stocks and contracts in progress | 3 | €142,460 | €289,396 | +€146,936 | +103.1% |
| Stocks | 30/36 | €142,460 | €289,396 | +€146,936 | +103.1% |
| Amounts receivable within one year | 40/41 | €76,713 | €5,652 | -€71,061 | -92.6% |
| Trade receivables | 40 | - | €3,807 | +€3,807 | |
| Other amounts receivable | 41 | €76,713 | €1,845 | -€74,868 | -97.6% |
| Cash at bank and in hand | 54/58 | €11,823 | - | -€11,823 | |
| Deferred charges and accrued income | 490/1 | €3,962 | €13,311 | +€9,350 | +236.0% |
| Total equity and liabilities | 10/49 | €1,229,011 | €1,240,246 | +€11,235 | +0.9% |
| Equity | 10/15 | €445,203 | €388,294 | -€56,909 | -12.8% |
| Contributions | 10/11 | €404,923 | €404,923 | = | 0.0% |
| Capital | 10 | €404,923 | €404,923 | = | 0.0% |
| Issued capital | 100 | €404,923 | €404,923 | = | 0.0% |
| Revaluation surpluses | 12 | €90,681 | €90,681 | = | 0.0% |
| Reserves | 13 | €7,477 | €7,477 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,477 | €7,477 | = | 0.0% |
| Legal reserve | 130 | €7,477 | €7,477 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,878 | -€114,787 | -€56,909 | -98.3% |
| Amounts payable | 17/49 | €783,808 | €851,952 | +€68,144 | +8.7% |
| Amounts payable after more than one year | 17 | €450,594 | €363,332 | -€87,262 | -19.4% |
| Financial debts | 170/4 | €450,594 | €363,332 | -€87,262 | -19.4% |
| Amounts payable within one year | 42/48 | €307,364 | €475,270 | +€167,906 | +54.6% |
| Current portion of amounts payable after more than one year | 42 | €50,470 | €46,155 | -€4,315 | -8.5% |
| Financial debts | 43 | €235,291 | €387,641 | +€152,349 | +64.7% |
| Credit institutions | 430/8 | €235,291 | €387,641 | +€152,349 | +64.7% |
| Trade debts | 44 | €13,507 | €29,418 | +€15,911 | +117.8% |
| Suppliers | 440/4 | €13,507 | €29,418 | +€15,911 | +117.8% |
| Taxes, remuneration and social security | 45 | €3,704 | €4,442 | +€737 | +19.9% |
| Taxes | 450/3 | €3,704 | €4,442 | +€737 | +19.9% |
| Other amounts payable | 47/48 | €4,391 | €7,615 | +€3,224 | +73.4% |
| Accrued charges and deferred income | 492/3 | €25,850 | €13,350 | -€12,500 | -48.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,058 | €69,799 | -€9,260 | -11.7% |
| Other operating charges | 640/8 | €13,401 | €13,789 | +€388 | +2.9% |
| Gross operating margin | 9900 | €117,505 | €68,538 | -€48,968 | -41.7% |
| Operating profit (loss) | 9901 | €25,046 | -€15,050 | -€40,096 | |
| Financial income | 75/76B | €61 | €4 | -€57 | -93.8% |
| Recurring financial income | 75 | €61 | €4 | -€57 | -93.8% |
| Financial charges | 65/66B | €69,650 | €41,649 | -€28,001 | -40.2% |
| Recurring financial charges | 65 | €69,650 | €41,649 | -€28,001 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | -€44,543 | -€56,695 | -€12,152 | -27.3% |
| Income taxes | 67/77 | €171 | €214 | +€43 | +24.9% |
| Profit (loss) for the period | 9904 | -€44,714 | -€56,909 | -€12,195 | -27.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,714 | -€56,909 | -€12,195 | -27.3% |
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.