Kaizen International: 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.
Kaizen International
Largest movements
- Tangible fixed assets -€66,271
down €66,271 (-57.0%), from €116,267 to €49,996
of which Furniture and vehicles: -€65,763
- Current investments +€6,000
new in 2025: €6,000
- Deferred charges and accrued income -€4,602
down €4,602 (-65.2%), from €7,058 to €2,456
- Cash +€4,526
up €4,526 (+77.1%), from €5,870 to €10,395
mainly Investment in fixed assets (net) (+€53,292) and Trade debts (+€30,311)
- Receivables within one year -€3,164
down €3,164 (-13.0%), from €24,318 to €21,154
of which Trade receivables: -€12,100
- Debts after one year -€59,269
down €59,269 (-68.3%), from €86,731 to €27,462
- Trade debts +€30,311
up €30,311 (+77.5%), from €39,114 to €69,425
- Current portion of long-term debt -€18,234
down €18,234 (-65.6%), from €27,783 to €9,549
- Profit (loss) carried forward -€9,828
down €9,828 (-18.9%), from €51,960 to €42,132
- Tax, wage and social debts -€5,645
down €5,645 (-43.6%), from €12,954 to €7,308
- Gross operating margin -€49,520
down €49,520 (-86.9%), from €56,960 to €7,440
- Depreciation -€8,574
down €8,574 (-39.8%), from €21,553 to €12,979
- Taxes -€6,987
down €6,987 (-92.8%), from €7,528 to €541
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 | €231,354 | €167,843 | -€63,512 | -27.5% |
| Fixed assets | 21/28 | €116,267 | €49,996 | -€66,271 | -57.0% |
| Tangible fixed assets | 22/27 | €116,267 | €49,996 | -€66,271 | -57.0% |
| Furniture and vehicles | 24 | €109,269 | €43,506 | -€65,763 | -60.2% |
| Other tangible fixed assets | 26 | €6,998 | €6,491 | -€507 | -7.2% |
| Current assets | 29/58 | €115,088 | €117,847 | +€2,759 | +2.4% |
| Amounts receivable after more than one year | 29 | €69,341 | €69,341 | = | 0.0% |
| Other amounts receivable | 291 | €69,341 | €69,341 | = | 0.0% |
| Stocks and contracts in progress | 3 | €8,500 | €8,500 | = | 0.0% |
| Stocks | 30/36 | €8,500 | €8,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €24,318 | €21,154 | -€3,164 | -13.0% |
| Trade receivables | 40 | €12,100 | €0 | -€12,100 | -100% |
| Other amounts receivable | 41 | €12,218 | €21,154 | +€8,936 | +73.1% |
| Current investments | 50/53 | - | €6,000 | +€6,000 | |
| Cash at bank and in hand | 54/58 | €5,870 | €10,395 | +€4,526 | +77.1% |
| Deferred charges and accrued income | 490/1 | €7,058 | €2,456 | -€4,602 | -65.2% |
| Total equity and liabilities | 10/49 | €231,354 | €167,843 | -€63,512 | -27.5% |
| Equity | 10/15 | €61,960 | €52,132 | -€9,828 | -15.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,960 | €42,132 | -€9,828 | -18.9% |
| Amounts payable | 17/49 | €169,394 | €115,710 | -€53,684 | -31.7% |
| Amounts payable after more than one year | 17 | €86,731 | €27,462 | -€59,269 | -68.3% |
| Financial debts | 170/4 | €86,731 | €27,462 | -€59,269 | -68.3% |
| Amounts payable within one year | 42/48 | €82,663 | €88,248 | +€5,585 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €27,783 | €9,549 | -€18,234 | -65.6% |
| Financial debts | 43 | €2,813 | €1,966 | -€847 | -30.1% |
| Credit institutions | 430/8 | €2,813 | €1,966 | -€847 | -30.1% |
| Trade debts | 44 | €39,114 | €69,425 | +€30,311 | +77.5% |
| Suppliers | 440/4 | €39,114 | €69,425 | +€30,311 | +77.5% |
| Taxes, remuneration and social security | 45 | €12,954 | €7,308 | -€5,645 | -43.6% |
| Taxes | 450/3 | €12,954 | €7,308 | -€5,645 | -43.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,553 | €12,979 | -€8,574 | -39.8% |
| Other operating charges | 640/8 | €691 | €1,190 | +€499 | +72.1% |
| Gross operating margin | 9900 | €56,960 | €7,440 | -€49,520 | -86.9% |
| Operating profit (loss) | 9901 | €34,715 | -€6,729 | -€41,445 | |
| Financial income | 75/76B | €1,097 | €1,627 | +€531 | +48.4% |
| Recurring financial income | 75 | €1,097 | €1,627 | +€531 | +48.4% |
| Financial charges | 65/66B | €3,967 | €4,185 | +€218 | +5.5% |
| Recurring financial charges | 65 | €3,967 | €4,185 | +€218 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €31,845 | -€9,287 | -€41,132 | |
| Income taxes | 67/77 | €7,528 | €541 | -€6,987 | -92.8% |
| Profit (loss) for the period | 9904 | €24,317 | -€9,828 | -€34,145 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,317 | -€9,828 | -€34,145 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.