Kaia Sandelé: what changed
Kaia Sandelé
Largest movements
- Receivables within one year +€11,047
up €11,047 (+125%), from €8,837 to €19,884
of which Other amounts receivable: +€6,838
- Tangible fixed assets -€5,177
down €5,177 (-22.4%), from €23,074 to €17,897
- Cash -€1,657
down €1,657 (-5.0%), from €33,084 to €31,427
mainly Receivables within one year (-€11,047) and Contributions, distributions and other (-€5,879)
- Receivables after one year -€1,484
no longer reported in 2025 (was €1,484)
- Other debts +€5,393
new in 2025: €5,393
- Debts after one year -€3,944
down €3,944 (-28.7%), from €13,754 to €9,810
- Tax, wage and social debts +€2,057
up €2,057 (+71.0%), from €2,896 to €4,953
- Trade debts -€870
no longer reported in 2025 (was €870)
- Gross operating margin -€14,605
down €14,605 (-46.7%), from €31,291 to €16,686
- Taxes -€4,360
down €4,360 (-64.5%), from €6,762 to €2,403
- Other operating charges -€1,563
down €1,563 (-79.6%), from €1,963 to €400
- Depreciation +€1,473
up €1,473 (+24.9%), from €5,925 to €7,399
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €66,479 | €69,263 | +€2,784 | +4.2% |
| Fixed assets | 21/28 | €23,074 | €17,897 | -€5,177 | -22.4% |
| Tangible fixed assets | 22/27 | €23,074 | €17,897 | -€5,177 | -22.4% |
| Furniture and vehicles | 24 | €23,074 | €17,897 | -€5,177 | -22.4% |
| Current assets | 29/58 | €43,405 | €51,366 | +€7,962 | +18.3% |
| Amounts receivable after more than one year | 29 | €1,484 | - | -€1,484 | |
| Other amounts receivable | 291 | €1,484 | - | -€1,484 | |
| Amounts receivable within one year | 40/41 | €8,837 | €19,884 | +€11,047 | +125% |
| Trade receivables | 40 | €4,840 | €9,049 | +€4,209 | +87.0% |
| Other amounts receivable | 41 | €3,997 | €10,835 | +€6,838 | +171% |
| Cash at bank and in hand | 54/58 | €33,084 | €31,427 | -€1,657 | -5.0% |
| Deferred charges and accrued income | 490/1 | - | €55 | +€55 | |
| Total equity and liabilities | 10/49 | €66,479 | €69,263 | +€2,784 | +4.2% |
| Equity | 10/15 | €45,163 | €45,163 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €42,163 | €42,163 | = | 0.0% |
| Distributable reserves | 133 | €42,163 | €42,163 | = | 0.0% |
| Amounts payable | 17/49 | €21,315 | €24,100 | +€2,784 | +13.1% |
| Amounts payable after more than one year | 17 | €13,754 | €9,810 | -€3,944 | -28.7% |
| Financial debts | 170/4 | €13,754 | €9,810 | -€3,944 | -28.7% |
| Amounts payable within one year | 42/48 | €7,562 | €14,290 | +€6,728 | +89.0% |
| Current portion of amounts payable after more than one year | 42 | €3,796 | €3,944 | +€148 | +3.9% |
| Trade debts | 44 | €870 | - | -€870 | |
| Suppliers | 440/4 | €870 | - | -€870 | |
| Taxes, remuneration and social security | 45 | €2,896 | €4,953 | +€2,057 | +71.0% |
| Taxes | 450/3 | €2,896 | €4,953 | +€2,057 | +71.0% |
| Other amounts payable | 47/48 | - | €5,393 | +€5,393 | |
| Non-recurring operating income | 76A | €4,679 | - | -€4,679 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,925 | €7,399 | +€1,473 | +24.9% |
| Other operating charges | 640/8 | €1,963 | €400 | -€1,563 | -79.6% |
| Gross operating margin | 9900 | €31,291 | €16,686 | -€14,605 | -46.7% |
| Operating profit (loss) | 9901 | €23,403 | €8,887 | -€14,516 | -62.0% |
| Financial income | 75/76B | €45 | €55 | +€10 | +22.0% |
| Recurring financial income | 75 | €45 | €55 | +€10 | +22.0% |
| Financial charges | 65/66B | €771 | €660 | -€110 | -14.3% |
| Recurring financial charges | 65 | €771 | €660 | -€110 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €22,677 | €8,282 | -€14,396 | -63.5% |
| Income taxes | 67/77 | €6,762 | €2,403 | -€4,360 | -64.5% |
| Profit (loss) for the period | 9904 | €15,915 | €5,879 | -€10,036 | -63.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,915 | €5,879 | -€10,036 | -63.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.