KAICO: what changed
Two fiscal 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.
KAICO
Largest movements
- Receivables within one year -€20,666
down €20,666 (-36.1%), from €57,278 to €36,612
of which Other amounts receivable: -€20,609
- Cash +€17,396
up €17,396 (+959.1%), from €1,814 to €19,209
mainly Net result for the year (+€39,239) and Receivables within one year (+€20,666)
- Tangible fixed assets -€11,515
down €11,515 (-2.2%), from €522,235 to €510,720
of which Land and buildings: -€9,101
- Profit (loss) carried forward +€39,239
up €39,239 (+23.5%), from -€166,847 to -€127,609
- Debts after one year -€28,939
down €28,939 (-12.7%), from €227,141 to €198,202
- Trade debts -€25,129
down €25,129 (-52.1%), from €48,252 to €23,123
- Other debts -€9,931
down €9,931 (-5.1%), from €194,768 to €184,837
- Tax, wage and social debts +€9,223
up €9,223 (+33.8%), from €27,281 to €36,505
- Other operating charges -€3,308
down €3,308 (-56.5%), from €5,853 to €2,545
- Financial charges -€2,492
down €2,492 (-22.2%), from €11,216 to €8,724
- Financial income +€2,084
up €2,084 (+190.8%), from €1,092 to €3,176
of which Non-recurring financial income: +€2,335
- Taxes +€1,030
up €1,030 (+6.1%), from €16,868 to €17,898
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 | €583,746 | €571,202 | -€12,544 | -2.1% |
| Fixed assets | 21/28 | €522,735 | €514,864 | -€7,871 | -1.5% |
| Intangible fixed assets | 21 | - | €3,645 | +€3,645 | |
| Tangible fixed assets | 22/27 | €522,235 | €510,720 | -€11,515 | -2.2% |
| Land and buildings | 22 | €510,377 | €501,276 | -€9,101 | -1.8% |
| Plant, machinery and equipment | 23 | €8,852 | €8,494 | -€358 | -4.0% |
| Furniture and vehicles | 24 | €3,006 | €949 | -€2,056 | -68.4% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €61,011 | €56,338 | -€4,674 | -7.7% |
| Amounts receivable within one year | 40/41 | €57,278 | €36,612 | -€20,666 | -36.1% |
| Trade receivables | 40 | €1,377 | €1,319 | -€58 | -4.2% |
| Other amounts receivable | 41 | €55,902 | €35,293 | -€20,609 | -36.9% |
| Cash at bank and in hand | 54/58 | €1,814 | €19,209 | +€17,396 | +959.1% |
| Deferred charges and accrued income | 490/1 | €1,919 | €516 | -€1,403 | -73.1% |
| Total equity and liabilities | 10/49 | €583,746 | €571,202 | -€12,544 | -2.1% |
| Equity | 10/15 | €54,177 | €93,416 | +€39,239 | +72.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €202,425 | €202,425 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€166,847 | -€127,609 | +€39,239 | +23.5% |
| Amounts payable | 17/49 | €529,569 | €477,786 | -€51,783 | -9.8% |
| Amounts payable after more than one year | 17 | €227,141 | €198,202 | -€28,939 | -12.7% |
| Financial debts | 170/4 | €227,141 | €198,202 | -€28,939 | -12.7% |
| Amounts payable within one year | 42/48 | €302,428 | €279,584 | -€22,844 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €32,127 | €35,119 | +€2,992 | +9.3% |
| Trade debts | 44 | €48,252 | €23,123 | -€25,129 | -52.1% |
| Suppliers | 440/4 | €48,252 | €23,123 | -€25,129 | -52.1% |
| Taxes, remuneration and social security | 45 | €27,281 | €36,505 | +€9,223 | +33.8% |
| Taxes | 450/3 | €27,281 | €36,505 | +€9,223 | +33.8% |
| Other amounts payable | 47/48 | €194,768 | €184,837 | -€9,931 | -5.1% |
| Non-recurring operating income | 76A | - | €10,115 | +€10,115 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,867 | €12,309 | -€558 | -4.3% |
| Other operating charges | 640/8 | €5,853 | €2,545 | -€3,308 | -56.5% |
| Non-recurring operating charges | 66A | - | €758 | +€758 | |
| Gross operating margin | 9900 | €78,638 | €78,298 | -€340 | -0.4% |
| Operating profit (loss) | 9901 | €59,917 | €62,685 | +€2,768 | +4.6% |
| Financial income | 75/76B | €1,092 | €3,176 | +€2,084 | +190.8% |
| Recurring financial income | 75 | €290 | €39 | -€251 | -86.7% |
| Non-recurring financial income | 76B | €803 | €3,137 | +€2,335 | +291.0% |
| Financial charges | 65/66B | €11,216 | €8,724 | -€2,492 | -22.2% |
| Recurring financial charges | 65 | €11,216 | €8,724 | -€2,492 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €49,793 | €57,137 | +€7,343 | +14.7% |
| Income taxes | 67/77 | €16,868 | €17,898 | +€1,030 | +6.1% |
| Profit (loss) for the period | 9904 | €32,925 | €39,239 | +€6,314 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €32,925 | €39,239 | +€6,314 | +19.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.