KAI THONG: 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.
KAI THONG
Largest movements
- Receivables within one year +€21,685
up €21,685 (+542%), from €4,000 to €25,685
of which Trade receivables: +€11,348
- Cash -€1,595
down €1,595 (-25.8%), from €6,173 to €4,578
mainly Receivables within one year (-€21,685) and Trade debts (-€13,046)
- Tangible fixed assets -€372
down €372 (-27.6%), from €1,350 to €978
- Profit (loss) carried forward +€42,318
up €42,318, from -€32,740 to €9,577
- Trade debts -€13,046
down €13,046 (-68.2%), from €19,125 to €6,079
- Other debts -€5,728
no longer reported in 2025 (was €5,728)
- Tax, wage and social debts -€3,668
down €3,668 (-42.6%), from €8,610 to €4,942
- Gross operating margin +€52,544
up €52,544, from -€24,213 to €28,331
- Taxes -€14,745
new in 2025: -€14,745
- Financial income +€587
up €587 (+978,817%), from €0 to €587
- Depreciation +€372
new in 2025: €372
- Financial charges +€359
up €359 (+256%), from €140 to €499
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 | €11,523 | €31,398 | +€19,876 | +172% |
| Fixed assets | 21/28 | €1,350 | €978 | -€372 | -27.6% |
| Tangible fixed assets | 22/27 | €1,350 | €978 | -€372 | -27.6% |
| Furniture and vehicles | 24 | €1,350 | €978 | -€372 | -27.6% |
| Current assets | 29/58 | €10,173 | €30,421 | +€20,248 | +199% |
| Amounts receivable within one year | 40/41 | €4,000 | €25,685 | +€21,685 | +542% |
| Trade receivables | 40 | - | €11,348 | +€11,348 | |
| Other amounts receivable | 41 | €4,000 | €14,337 | +€10,337 | +258% |
| Cash at bank and in hand | 54/58 | €6,173 | €4,578 | -€1,595 | -25.8% |
| Deferred charges and accrued income | 490/1 | - | €158 | +€158 | |
| Total equity and liabilities | 10/49 | €11,523 | €31,398 | +€19,876 | +172% |
| Equity | 10/15 | -€21,940 | €20,377 | +€42,318 | |
| Contributions | 10/11 | €10,800 | €10,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,740 | €9,577 | +€42,318 | |
| Amounts payable | 17/49 | €33,463 | €11,021 | -€22,442 | -67.1% |
| Amounts payable within one year | 42/48 | €33,463 | €11,021 | -€22,442 | -67.1% |
| Trade debts | 44 | €19,125 | €6,079 | -€13,046 | -68.2% |
| Suppliers | 440/4 | €19,125 | €6,079 | -€13,046 | -68.2% |
| Taxes, remuneration and social security | 45 | €8,610 | €4,942 | -€3,668 | -42.6% |
| Taxes | 450/3 | €8,610 | €4,942 | -€3,668 | -42.6% |
| Other amounts payable | 47/48 | €5,728 | - | -€5,728 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €372 | +€372 | |
| Other operating charges | 640/8 | €243 | €473 | +€230 | +94.8% |
| Gross operating margin | 9900 | -€24,213 | €28,331 | +€52,544 | |
| Operating profit (loss) | 9901 | -€24,456 | €27,485 | +€51,941 | |
| Financial income | 75/76B | €0 | €587 | +€587 | +978,817% |
| Recurring financial income | 75 | €0 | €587 | +€587 | +978,817% |
| Financial charges | 65/66B | €140 | €499 | +€359 | +256% |
| Recurring financial charges | 65 | €140 | €499 | +€359 | +256% |
| Profit (loss) for the period before taxes | 9903 | -€24,597 | €27,573 | +€52,170 | |
| Income taxes | 67/77 | - | -€14,745 | -€14,745 | |
| Profit (loss) for the period | 9904 | -€24,597 | €42,318 | +€66,914 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,597 | €42,318 | +€66,914 |
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 17 October 2026 via checked.be.