Kahuna: 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.
Kahuna
Largest movements
- Current investments +€55,000
up €55,000 (+367%), from €15,000 to €70,000
- Cash +€54,639
up €54,639 (+480%), from €11,378 to €66,017
mainly Net result for the year (+€115,483) and Smaller working-capital items (+€197)
- Receivables within one year +€2,965
up €2,965 (+8.3%), from €35,682 to €38,647
of which Other amounts receivable: +€3,557
- Reserves +€163,314
new in 2025: €163,314
- Profit (loss) carried forward -€47,831
no longer reported in 2025 (was €47,831)
- Gross operating margin +€86,740
up €86,740 (+142%), from €61,143 to €147,884
- Taxes +€20,211
up €20,211 (+163%), from €12,424 to €32,635
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 | €62,060 | €175,777 | +€113,717 | +183% |
| Fixed assets | 21/28 | - | €1,101 | +€1,101 | |
| Tangible fixed assets | 22/27 | - | €1,101 | +€1,101 | |
| Furniture and vehicles | 24 | - | €1,101 | +€1,101 | |
| Current assets | 29/58 | €62,060 | €174,676 | +€112,617 | +181% |
| Amounts receivable within one year | 40/41 | €35,682 | €38,647 | +€2,965 | +8.3% |
| Trade receivables | 40 | €35,682 | €35,090 | -€592 | -1.7% |
| Other amounts receivable | 41 | - | €3,557 | +€3,557 | |
| Current investments | 50/53 | €15,000 | €70,000 | +€55,000 | +367% |
| Cash at bank and in hand | 54/58 | €11,378 | €66,017 | +€54,639 | +480% |
| Deferred charges and accrued income | 490/1 | - | €12 | +€12 | |
| Total equity and liabilities | 10/49 | €62,060 | €175,777 | +€113,717 | +183% |
| Equity | 10/15 | €50,831 | €166,314 | +€115,483 | +227% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €163,314 | +€163,314 | |
| Distributable reserves | 133 | - | €163,314 | +€163,314 | |
| Profit (loss) carried forward | 14 | €47,831 | - | -€47,831 | |
| Amounts payable | 17/49 | €11,228 | €9,463 | -€1,765 | -15.7% |
| Amounts payable within one year | 42/48 | €11,228 | €9,463 | -€1,765 | -15.7% |
| Trade debts | 44 | €0 | €209 | +€209 | |
| Suppliers | 440/4 | €0 | €209 | +€209 | |
| Taxes, remuneration and social security | 45 | €9,907 | €9,254 | -€653 | -6.6% |
| Taxes | 450/3 | €9,907 | €9,254 | -€653 | -6.6% |
| Other amounts payable | 47/48 | €1,322 | - | -€1,322 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €121 | +€121 | |
| Gross operating margin | 9900 | €61,143 | €147,884 | +€86,740 | +142% |
| Operating profit (loss) | 9901 | €61,143 | €147,763 | +€86,620 | +142% |
| Financial income | 75/76B | - | €402 | +€402 | |
| Recurring financial income | 75 | - | €402 | +€402 | |
| Financial charges | 65/66B | €29 | €47 | +€18 | +62.6% |
| Recurring financial charges | 65 | €29 | €47 | +€18 | +62.6% |
| Profit (loss) for the period before taxes | 9903 | €61,114 | €148,118 | +€87,003 | +142% |
| Income taxes | 67/77 | €12,424 | €32,635 | +€20,211 | +163% |
| Profit (loss) for the period | 9904 | €48,690 | €115,483 | +€66,792 | +137% |
| Profit (loss) for the period to be appropriated | 9905 | €48,690 | €115,483 | +€66,792 | +137% |
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 22 October 2026 via checked.be.