KAJO: 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.
KAJO
Largest movements
- Tangible fixed assets -€71,123
down €71,123 (-4.2%), from €1.7m to €1.6m
of which Land and buildings: -€62,009
- Intangible fixed assets -€30,852
down €30,852 (-12.1%), from €254,591 to €223,739
- Receivables within one year +€24,662
up €24,662 (+11.3%), from €217,394 to €242,055
of which Trade receivables: +€20,992
- Profit (loss) carried forward -€114,737
down €114,737 (-21.4%), from -€535,221 to -€649,958
- Other debts +€62,344
up €62,344 (+11.9%), from €521,805 to €584,149
- Revaluation surpluses -€48,861
down €48,861 (-5.3%), from €928,364 to €879,503
- Reserves +€48,861
up €48,861 (+39.0%), from €125,207 to €174,068
of which Distributable reserves: +€63,861
- Tax, wage and social debts -€24,843
down €24,843 (-91.0%), from €27,301 to €2,458
of which Taxes: -€26,006
- Write-downs -€194,369
down €194,369, from €97,184 to -€97,184
- Other operating charges +€97,276
up €97,276 (+1,789%), from €5,439 to €102,715
- Gross operating margin -€42,534
down €42,534 (-57.7%), from €73,759 to €31,225
- Financial charges -€3,316
down €3,316 (-35.4%), from €9,377 to €6,061
- Depreciation +€1,461
up €1,461 (+1.3%), from €114,842 to €116,303
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,374,114 | €2,279,400 | -€94,714 | -4.0% |
| Fixed assets | 21/28 | €2,060,394 | €1,958,419 | -€101,975 | -4.9% |
| Intangible fixed assets | 21 | €254,591 | €223,739 | -€30,852 | -12.1% |
| Tangible fixed assets | 22/27 | €1,684,407 | €1,613,285 | -€71,123 | -4.2% |
| Land and buildings | 22 | €1,636,584 | €1,574,575 | -€62,009 | -3.8% |
| Plant, machinery and equipment | 23 | €47,824 | €36,830 | -€10,994 | -23.0% |
| Furniture and vehicles | 24 | €0 | €1,880 | +€1,880 | |
| Financial fixed assets | 28 | €121,395 | €121,395 | = | 0.0% |
| Current assets | 29/58 | €313,720 | €320,981 | +€7,260 | +2.3% |
| Stocks and contracts in progress | 3 | €67,184 | €71,312 | +€4,128 | +6.1% |
| Stocks | 30/36 | €67,184 | €71,312 | +€4,128 | +6.1% |
| Amounts receivable within one year | 40/41 | €217,394 | €242,055 | +€24,662 | +11.3% |
| Trade receivables | 40 | €216,431 | €237,424 | +€20,992 | +9.7% |
| Other amounts receivable | 41 | €962 | €4,632 | +€3,669 | +381% |
| Cash at bank and in hand | 54/58 | €25,970 | €3,921 | -€22,050 | -84.9% |
| Deferred charges and accrued income | 490/1 | €3,172 | €3,692 | +€521 | +16.4% |
| Total equity and liabilities | 10/49 | €2,374,114 | €2,279,400 | -€94,714 | -4.0% |
| Equity | 10/15 | €1,718,350 | €1,603,613 | -€114,737 | -6.7% |
| Contributions | 10/11 | €1,200,000 | €1,200,000 | = | 0.0% |
| Revaluation surpluses | 12 | €928,364 | €879,503 | -€48,861 | -5.3% |
| Reserves | 13 | €125,207 | €174,068 | +€48,861 | +39.0% |
| Non-distributable reserves | 130/1 | €15,000 | €0 | -€15,000 | -100% |
| Reserves not available under the articles | 1311 | €15,000 | €0 | -€15,000 | -100% |
| Distributable reserves | 133 | €110,207 | €174,068 | +€63,861 | +57.9% |
| Profit (loss) carried forward | 14 | -€535,221 | -€649,958 | -€114,737 | -21.4% |
| Amounts payable | 17/49 | €655,764 | €675,787 | +€20,023 | +3.1% |
| Amounts payable after more than one year | 17 | €52,534 | €34,464 | -€18,070 | -34.4% |
| Financial debts | 170/4 | €52,534 | €34,464 | -€18,070 | -34.4% |
| Amounts payable within one year | 42/48 | €603,067 | €641,322 | +€38,255 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €17,573 | €18,070 | +€497 | +2.8% |
| Financial debts | 43 | €8 | €0 | -€8 | -100% |
| Credit institutions | 430/8 | €8 | €0 | -€8 | -100% |
| Trade debts | 44 | €36,379 | €36,645 | +€265 | +0.7% |
| Suppliers | 440/4 | €36,379 | €36,645 | +€265 | +0.7% |
| Taxes, remuneration and social security | 45 | €27,301 | €2,458 | -€24,843 | -91.0% |
| Taxes | 450/3 | €26,006 | €0 | -€26,006 | -100% |
| Remuneration and social security | 454/9 | €1,295 | €2,458 | +€1,163 | +89.8% |
| Other amounts payable | 47/48 | €521,805 | €584,149 | +€62,344 | +11.9% |
| Accrued charges and deferred income | 492/3 | €163 | €0 | -€163 | -100% |
| Non-recurring operating income | 76A | €67,480 | €0 | -€67,480 | -100% |
| Remuneration, social security and pensions | 62 | €18,644 | €17,499 | -€1,145 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,842 | €116,303 | +€1,461 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €97,184 | -€97,184 | -€194,369 | |
| Other operating charges | 640/8 | €5,439 | €102,715 | +€97,276 | +1,789% |
| Non-recurring operating charges | 66A | €3,674 | €825 | -€2,849 | -77.5% |
| Gross operating margin | 9900 | €73,759 | €31,225 | -€42,534 | -57.7% |
| Operating profit (loss) | 9901 | -€166,025 | -€108,932 | +€57,093 | +34.4% |
| Financial income | 75/76B | €887 | €257 | -€630 | -71.1% |
| Recurring financial income | 75 | €887 | €257 | -€630 | -71.1% |
| Financial charges | 65/66B | €9,377 | €6,061 | -€3,316 | -35.4% |
| Recurring financial charges | 65 | €9,377 | €6,061 | -€3,316 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | -€174,515 | -€114,737 | +€59,778 | +34.3% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€174,515 | -€114,737 | +€59,778 | +34.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€174,515 | -€114,737 | +€59,778 | +34.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2023 and 30 September 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.