KAIZER TRADE: 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.
KAIZER TRADE
Largest movements
- Receivables within one year +€45,454
up €45,454 (+58.7%), from €77,378 to €122,832
of which Trade receivables: +€30,295
- Tangible fixed assets +€11,537
up €11,537 (+67.3%), from €17,137 to €28,674
- Cash -€6,243
down €6,243 (-82.6%), from €7,562 to €1,319
mainly Receivables within one year (-€45,454) and Investment in fixed assets (net) (-€45,333)
- Deferred charges and accrued income -€1,805
down €1,805 (-32.8%), from €5,504 to €3,699
- Profit (loss) carried forward +€71,806
up €71,806 (+335.0%), from €21,437 to €93,243
- Trade debts -€11,930
down €11,930 (-86.9%), from €13,726 to €1,796
- Current portion of long-term debt -€10,540
down €10,540 (-64.8%), from €16,255 to €5,716
- Debts after one year -€4,875
no longer reported in 2025 (was €4,875)
- Tax, wage and social debts +€4,285
up €4,285 (+10.7%), from €40,208 to €44,493
of which Remuneration and social security: +€7,340
- Gross operating margin +€111,614
up €111,614 (+42.0%), from €266,060 to €377,674
- Staff costs +€15,250
up €15,250 (+6.4%), from €239,968 to €255,218
- Depreciation -€9,007
down €9,007 (-21.0%), from €42,802 to €33,796
- Other operating charges +€4,090
up €4,090 (+101.1%), from €4,045 to €8,135
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 | €113,562 | €162,504 | +€48,942 | +43.1% |
| Fixed assets | 21/28 | €23,117 | €34,654 | +€11,537 | +49.9% |
| Tangible fixed assets | 22/27 | €17,137 | €28,674 | +€11,537 | +67.3% |
| Furniture and vehicles | 24 | €17,137 | €28,674 | +€11,537 | +67.3% |
| Financial fixed assets | 28 | €5,980 | €5,980 | = | 0.0% |
| Current assets | 29/58 | €90,444 | €127,850 | +€37,405 | +41.4% |
| Amounts receivable within one year | 40/41 | €77,378 | €122,832 | +€45,454 | +58.7% |
| Trade receivables | 40 | €4,686 | €34,981 | +€30,295 | +646.5% |
| Other amounts receivable | 41 | €72,692 | €87,851 | +€15,159 | +20.9% |
| Cash at bank and in hand | 54/58 | €7,562 | €1,319 | -€6,243 | -82.6% |
| Deferred charges and accrued income | 490/1 | €5,504 | €3,699 | -€1,805 | -32.8% |
| Total equity and liabilities | 10/49 | €113,562 | €162,504 | +€48,942 | +43.1% |
| Equity | 10/15 | €38,497 | €110,303 | +€71,806 | +186.5% |
| Contributions | 10/11 | €15,200 | €15,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,437 | €93,243 | +€71,806 | +335.0% |
| Amounts payable | 17/49 | €75,065 | €52,201 | -€22,864 | -30.5% |
| Amounts payable after more than one year | 17 | €4,875 | - | -€4,875 | |
| Financial debts | 170/4 | €4,875 | - | -€4,875 | |
| Amounts payable within one year | 42/48 | €70,190 | €52,005 | -€18,185 | -25.9% |
| Current portion of amounts payable after more than one year | 42 | €16,255 | €5,716 | -€10,540 | -64.8% |
| Trade debts | 44 | €13,726 | €1,796 | -€11,930 | -86.9% |
| Suppliers | 440/4 | €13,726 | €1,796 | -€11,930 | -86.9% |
| Taxes, remuneration and social security | 45 | €40,208 | €44,493 | +€4,285 | +10.7% |
| Taxes | 450/3 | €33,113 | €30,058 | -€3,055 | -9.2% |
| Remuneration and social security | 454/9 | €7,095 | €14,435 | +€7,340 | +103.5% |
| Accrued charges and deferred income | 492/3 | - | €196 | +€196 | |
| Remuneration, social security and pensions | 62 | €239,968 | €255,218 | +€15,250 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,802 | €33,796 | -€9,007 | -21.0% |
| Other operating charges | 640/8 | €4,045 | €8,135 | +€4,090 | +101.1% |
| Gross operating margin | 9900 | €266,060 | €377,674 | +€111,614 | +42.0% |
| Operating profit (loss) | 9901 | -€20,755 | €80,526 | +€101,281 | |
| Financial income | 75/76B | €1,456 | €1,095 | -€361 | -24.8% |
| Recurring financial income | 75 | €1,456 | €1,095 | -€361 | -24.8% |
| Financial charges | 65/66B | €8,680 | €7,354 | -€1,326 | -15.3% |
| Recurring financial charges | 65 | €8,680 | €7,354 | -€1,326 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | -€27,979 | €74,267 | +€102,246 | |
| Income taxes | 67/77 | €6,085 | €2,461 | -€3,624 | -59.6% |
| Profit (loss) for the period | 9904 | -€34,063 | €71,806 | +€105,869 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,063 | €71,806 | +€105,869 |
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 6 October 2026 via checked.be.