KAGO & CO: 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.
KAGO & CO
Largest movements
- Deferred charges and accrued income -€36,380
no longer reported in 2025 (was €36,380)
- Receivables within one year +€34,072
new in 2025: €34,072
of which Trade receivables: +€21,545
- Stocks and contracts +€20,941
up €20,941 (+37.6%), from €55,751 to €76,692
- Cash +€18,257
up €18,257 (+7.1%), from €257,280 to €275,537
mainly Deferred charges and accrued income (+€36,380) and Net result for the year (+€34,808)
- Tangible fixed assets -€8,859
down €8,859 (-6.2%), from €142,193 to €133,334
of which Land and buildings: -€6,896
- Reserves +€34,808
up €34,808 (+11.9%), from €293,647 to €328,455
- Tax, wage and social debts -€12,341
down €12,341 (-39.3%), from €31,409 to €19,068
of which Taxes: -€17,033
- Trade debts +€6,600
up €6,600 (+7.6%), from €87,253 to €93,854
- Gross operating margin -€49,218
down €49,218 (-41.6%), from €118,298 to €69,080
- Taxes -€12,835
down €12,835 (-48.7%), from €26,376 to €13,541
- Depreciation -€5,355
down €5,355 (-34.4%), from €15,564 to €10,209
- Staff costs +€3,703
up €3,703 (+2,020%), from €183 to €3,886
- Financial charges -€1,256
down €1,256 (-24.7%), from €5,084 to €3,828
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 | €591,160 | €619,191 | +€28,030 | +4.7% |
| Fixed assets | 21/28 | €142,193 | €133,334 | -€8,859 | -6.2% |
| Tangible fixed assets | 22/27 | €142,193 | €133,334 | -€8,859 | -6.2% |
| Land and buildings | 22 | €133,786 | €126,890 | -€6,896 | -5.2% |
| Plant, machinery and equipment | 23 | €6,219 | €4,993 | -€1,226 | -19.7% |
| Furniture and vehicles | 24 | €2,187 | €1,451 | -€736 | -33.7% |
| Current assets | 29/58 | €448,968 | €485,857 | +€36,889 | +8.2% |
| Stocks and contracts in progress | 3 | €55,751 | €76,692 | +€20,941 | +37.6% |
| Stocks | 30/36 | €55,751 | €76,692 | +€20,941 | +37.6% |
| Amounts receivable within one year | 40/41 | - | €34,072 | +€34,072 | |
| Trade receivables | 40 | - | €21,545 | +€21,545 | |
| Other amounts receivable | 41 | - | €12,527 | +€12,527 | |
| Current investments | 50/53 | €99,557 | €99,557 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €257,280 | €275,537 | +€18,257 | +7.1% |
| Deferred charges and accrued income | 490/1 | €36,380 | - | -€36,380 | |
| Total equity and liabilities | 10/49 | €591,160 | €619,191 | +€28,030 | +4.7% |
| Equity | 10/15 | €355,647 | €390,455 | +€34,808 | +9.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €293,647 | €328,455 | +€34,808 | +11.9% |
| Distributable reserves | 133 | €293,647 | €328,455 | +€34,808 | +11.9% |
| Amounts payable | 17/49 | €235,513 | €228,735 | -€6,778 | -2.9% |
| Amounts payable after more than one year | 17 | €66,232 | €63,801 | -€2,431 | -3.7% |
| Financial debts | 170/4 | €65,332 | €62,901 | -€2,431 | -3.7% |
| Other amounts payable | 178/9 | €900 | €900 | = | 0.0% |
| Amounts payable within one year | 42/48 | €163,182 | €158,834 | -€4,347 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €5,335 | €5,431 | +€96 | +1.8% |
| Trade debts | 44 | €87,253 | €93,854 | +€6,600 | +7.6% |
| Suppliers | 440/4 | €87,253 | €93,854 | +€6,600 | +7.6% |
| Taxes, remuneration and social security | 45 | €31,409 | €19,068 | -€12,341 | -39.3% |
| Taxes | 450/3 | €31,409 | €14,376 | -€17,033 | -54.2% |
| Remuneration and social security | 454/9 | - | €4,692 | +€4,692 | |
| Other amounts payable | 47/48 | €39,184 | €40,482 | +€1,298 | +3.3% |
| Accrued charges and deferred income | 492/3 | €6,100 | €6,100 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €183 | €3,886 | +€3,703 | +2,020% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,564 | €10,209 | -€5,355 | -34.4% |
| Other operating charges | 640/8 | €2,945 | €2,809 | -€136 | -4.6% |
| Gross operating margin | 9900 | €118,298 | €69,080 | -€49,218 | -41.6% |
| Operating profit (loss) | 9901 | €99,607 | €52,177 | -€47,429 | -47.6% |
| Financial income | 75/76B | €93 | - | -€93 | |
| Recurring financial income | 75 | €93 | - | -€93 | |
| Financial charges | 65/66B | €5,084 | €3,828 | -€1,256 | -24.7% |
| Recurring financial charges | 65 | €5,084 | €3,828 | -€1,256 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €94,615 | €48,349 | -€46,266 | -48.9% |
| Income taxes | 67/77 | €26,376 | €13,541 | -€12,835 | -48.7% |
| Profit (loss) for the period | 9904 | €68,240 | €34,808 | -€33,431 | -49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €68,240 | €34,808 | -€33,431 | -49.0% |
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 27 October 2026 via checked.be.