KAIROS: 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.
What changed
KAIROS
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4.4m
2024 · €2.8m+€1.6m
Equity
€32.7m
2024 · €28.3m+€4.4m
Cash
€9.4m
2024 · €9.6m-€267,675
Balance sheet total
€40.9m
2024 · €41.9m-€1.0m
Largest movements
Assets
- Receivables after one year +€4.0m
up €4.0m (+99.9%), from €4.0m to €8.1m
- Financial fixed assets -€3.0m
down €3.0m (-15.5%), from €19.1m to €16.1m
of which Affiliated companies: -€3.0m
- Receivables within one year -€2.0m
down €2.0m (-36.8%), from €5.3m to €3.4m
of which Trade receivables: -€1.8m
Equity and liabilities
- Other debts -€5.2m
down €5.2m (-56.7%), from €9.1m to €4.0m
- Reserves +€4.4m
up €4.4m (+15.7%), from €28.2m to €32.6m
of which Distributable reserves: +€4.4m
- Advances received -€885,046
down €885,046 (-37.1%), from €2.4m to €1.5m
- Trade debts +€710,870
up €710,870 (+38.7%), from €1.8m to €2.5m
Income statement
- Financial income +€3.4m
up €3.4m (+87.7%), from €3.9m to €7.3m
- Services and other goods +€677,247
up €677,247 (+28.6%), from €2.4m to €3.0m
- Goods and materials +€280,358
up €280,358 (+12.5%), from €2.2m to €2.5m
- Taxes -€187,229
down €187,229, from €185,323 to -€1,906
of which Taxes: -€185,300
- Financial charges -€155,884
down €155,884 (-36.1%), from €431,238 to €275,354
of which Financial charges: -€126,789
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.
Result 2024
€2.8m
Turnover
+€16,211
Other operating income
-€10,610
Goods and materials
-€280,358
Services and other goods
-€677,247
Staff costs
+€105,957
Other operating charges
-€323
Other operating items
-€1.3m
Financial income
+€3.4m
Financial charges
+€155,884
Taxes
+€187,229
Result 2025
€4.4m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€3.2m
Investment
+€3.0m
Financing
€0
Cash 2024
€9.6m
From operations (derived)
-€3.2m
Net result for the year
+€4.4m
Receivables after one year
-€4.0m
Stocks and contracts
-€162,046
Receivables within one year
+€2.0m
Deferred charges and accrued income
+€9,798
Trade debts
+€710,870
Tax, wage and social debts
-€60,590
Advances received
-€885,046
Other debts
-€5.2m
Investment (derived)
+€3.0m
Investment in fixed assets (net)
+€3.0m
Current investments
+€0
Cash 2025
€9.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €41,866,914 | €40,861,251 | -€1.0m | -2.4% |
| Fixed assets | 21/28 | €19,065,609 | €16,110,245 | -€3.0m | -15.5% |
| Financial fixed assets | 28 | €19,065,609 | €16,110,245 | -€3.0m | -15.5% |
| Affiliated companies | 280/1 | €19,055,130 | €16,099,864 | -€3.0m | -15.5% |
| Participating interests | 280 | €8,080,931 | €5,722,071 | -€2.4m | -29.2% |
| Amounts receivable | 281 | €10,974,200 | €10,377,792 | -€596,407 | -5.4% |
| Companies linked by participating interests | 282/3 | €7,440 | €7,440 | = | 0.0% |
| Participating interests | 282 | €7,440 | €7,440 | = | 0.0% |
| Other financial fixed assets | 284/8 | €3,039 | €2,941 | -€98 | -3.2% |
| Shares | 284 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €539 | €441 | -€98 | -18.1% |
| Current assets | 29/58 | €22,801,306 | €24,751,006 | +€1.9m | +8.6% |
| Amounts receivable after more than one year | 29 | €4,027,403 | €8,050,106 | +€4.0m | +99.9% |
| Other amounts receivable | 291 | €4,027,403 | €8,050,106 | +€4.0m | +99.9% |
| Stocks and contracts in progress | 3 | €3,780,475 | €3,942,521 | +€162,046 | +4.3% |
| Stocks | 30/36 | €321,145 | €321,145 | = | 0.0% |
| Property held for sale | 35 | €321,145 | €321,145 | = | 0.0% |
| Contracts in progress | 37 | €3,459,330 | €3,621,376 | +€162,046 | +4.7% |
| Amounts receivable within one year | 40/41 | €5,317,735 | €3,360,160 | -€2.0m | -36.8% |
| Trade receivables | 40 | €4,666,766 | €2,887,310 | -€1.8m | -38.1% |
| Other amounts receivable | 41 | €650,969 | €472,851 | -€178,119 | -27.4% |
| Current investments | 50/53 | €0 | - | -€0 | |
| Other investments | 51/53 | €0 | - | -€0 | |
| Cash at bank and in hand | 54/58 | €9,638,825 | €9,371,150 | -€267,675 | -2.8% |
| Deferred charges and accrued income | 490/1 | €36,867 | €27,068 | -€9,798 | -26.6% |
| Total equity and liabilities | 10/49 | €41,866,914 | €40,861,251 | -€1.0m | -2.4% |
| Equity | 10/15 | €28,251,702 | €32,663,581 | +€4.4m | +15.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €28,189,702 | €32,601,581 | +€4.4m | +15.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €28,183,502 | €32,595,381 | +€4.4m | +15.7% |
| Amounts payable | 17/49 | €13,615,212 | €8,197,670 | -€5.4m | -39.8% |
| Amounts payable within one year | 42/48 | €13,615,212 | €8,197,670 | -€5.4m | -39.8% |
| Trade debts | 44 | €1,836,983 | €2,547,853 | +€710,870 | +38.7% |
| Suppliers | 440/4 | €1,836,983 | €2,547,853 | +€710,870 | +38.7% |
| Advances received on contracts in progress | 46 | €2,382,794 | €1,497,747 | -€885,046 | -37.1% |
| Taxes, remuneration and social security | 45 | €259,176 | €198,587 | -€60,590 | -23.4% |
| Taxes | 450/3 | €110,278 | €69,363 | -€40,915 | -37.1% |
| Remuneration and social security | 454/9 | €148,899 | €129,224 | -€19,675 | -13.2% |
| Other amounts payable | 47/48 | €9,136,259 | €3,953,483 | -€5.2m | -56.7% |
| Operating income | 70/76A | €5,374,281 | €4,087,650 | -€1.3m | -23.9% |
| Turnover | 70 | €3,715,492 | €3,731,703 | +€16,211 | +0.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,453,937 | €162,046 | -€1.3m | -88.9% |
| Other operating income | 74 | €204,511 | €193,901 | -€10,610 | -5.2% |
| Non-recurring operating income | 76A | €341 | - | -€341 | |
| Operating charges | 60/66A | €5,832,797 | €6,684,768 | +€851,971 | +14.6% |
| Goods for resale, raw materials and consumables | 60 | €2,240,927 | €2,521,285 | +€280,358 | +12.5% |
| Purchases | 600/8 | €2,240,927 | €2,521,285 | +€280,358 | +12.5% |
| Services and other goods | 61 | €2,366,660 | €3,043,907 | +€677,247 | +28.6% |
| Remuneration, social security and pensions | 62 | €1,223,925 | €1,117,968 | -€105,957 | -8.7% |
| Other operating charges | 640/8 | €1,286 | €1,608 | +€323 | +25.1% |
| Operating profit (loss) | 9901 | -€458,516 | -€2,597,118 | -€2.1m | -466% |
| Financial income | 75/76B | €3,879,143 | €7,282,445 | +€3.4m | +87.7% |
| Recurring financial income | 75 | €3,879,143 | €7,282,445 | +€3.4m | +87.7% |
| Income from financial fixed assets | 750 | €3,213,829 | €6,785,949 | +€3.6m | +111% |
| Income from current assets | 751 | €665,314 | €496,496 | -€168,818 | -25.4% |
| Financial charges | 65/66B | €431,238 | €275,354 | -€155,884 | -36.1% |
| Recurring financial charges | 65 | €265,784 | €138,994 | -€126,789 | -47.7% |
| Debt charges | 650 | €181,609 | €129,164 | -€52,445 | -28.9% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €77,062 | - | -€77,062 | |
| Other financial charges | 652/9 | €7,112 | €9,830 | +€2,717 | +38.2% |
| Non-recurring financial charges | 66B | €165,454 | €136,359 | -€29,095 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €2,989,389 | €4,409,973 | +€1.4m | +47.5% |
| Income taxes | 67/77 | €185,323 | -€1,906 | -€187,229 | |
| Taxes | 670/3 | €185,323 | €23 | -€185,300 | -100.0% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €1,928 | +€1,928 | |
| Profit (loss) for the period | 9904 | €2,804,066 | €4,411,879 | +€1.6m | +57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,804,066 | €4,411,879 | +€1.6m | +57.3% |
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 15 October 2026 via checked.be.