KAJONI: 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
KAJONI
NACE 46.190, Agents in non-specialised wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€36,530
2024 · -€54,298+€17,768
Equity
€1.7m
2024 · €1.7m-€36,530
Cash
€2,887
2024 · €4,461-€1,574
Balance sheet total
€4.0m
2024 · €3.7m+€343,317
Largest movements
Assets
- Receivables within one year +€254,904
up €254,904 (+17.6%), from €1.5m to €1.7m
of which Trade receivables: +€163,078
- Tangible fixed assets +€90,070
up €90,070 (+4.2%), from €2.1m to €2.2m
of which Land and buildings: +€111,987
Equity and liabilities
- Debts after one year +€344,257
up €344,257 (+57.4%), from €599,544 to €943,801
- Trade debts +€67,381
up €67,381 (+455%), from €14,802 to €82,183
Income statement
- Financial charges -€108,188
down €108,188 (-69.5%), from €155,718 to €47,530
- Gross operating margin -€64,903
down €64,903 (-23.7%), from €274,199 to €209,297
- Taxes +€19,486
up €19,486 (+132%), from €14,761 to €34,247
- Depreciation +€13,498
up €13,498 (+6.8%), from €198,535 to €212,033
- Staff costs -€4,818
down €4,818 (-61.4%), from €7,849 to €3,030
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
-€54,298
Gross operating margin
-€64,903
Staff costs
+€4,818
Depreciation
-€13,498
Other operating charges
+€2,250
Financial income
+€389
Financial charges
+€108,188
Taxes
-€19,486
Deferred taxes and other
+€9
Result 2025
-€36,530
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
-€56,591
Investment
-€302,103
Financing
+€357,119
Cash 2024
€4,461
From operations (derived)
-€56,591
Net result for the year
-€36,530
Depreciation
+€212,033
Receivables within one year
-€254,904
Deferred charges and accrued income
+€83
Provisions
-€33,110
Trade debts
+€67,381
Tax, wage and social debts
+€2,228
Other debts
+€968
Accrued charges and deferred income
-€14,738
Investment (derived)
-€302,103
Investment in fixed assets (net)
-€302,103
Financing
+€357,119
Debts after one year
+€344,257
Current portion of long-term debt
+€25,642
Short-term financial debts
-€12,780
Cash 2025
€2,887
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,698,993 | €4,042,310 | +€343,317 | +9.3% |
| Fixed assets | 21/28 | €2,222,329 | €2,312,399 | +€90,070 | +4.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €2,133,088 | €2,223,158 | +€90,070 | +4.2% |
| Land and buildings | 22 | €2,033,780 | €2,145,767 | +€111,987 | +5.5% |
| Plant, machinery and equipment | 23 | €11,037 | €8,449 | -€2,588 | -23.5% |
| Furniture and vehicles | 24 | €88,271 | €68,942 | -€19,329 | -21.9% |
| Financial fixed assets | 28 | €89,242 | €89,242 | = | 0.0% |
| Current assets | 29/58 | €1,476,664 | €1,729,911 | +€253,247 | +17.1% |
| Stocks and contracts in progress | 3 | €20,841 | €20,841 | = | 0.0% |
| Stocks | 30/36 | €20,841 | €20,841 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,451,279 | €1,706,183 | +€254,904 | +17.6% |
| Trade receivables | 40 | €193,751 | €356,829 | +€163,078 | +84.2% |
| Other amounts receivable | 41 | €1,257,528 | €1,349,355 | +€91,827 | +7.3% |
| Cash at bank and in hand | 54/58 | €4,461 | €2,887 | -€1,574 | -35.3% |
| Deferred charges and accrued income | 490/1 | €83 | €0 | -€83 | -100% |
| Total equity and liabilities | 10/49 | €3,698,993 | €4,042,310 | +€343,317 | +9.3% |
| Equity | 10/15 | €1,704,816 | €1,668,286 | -€36,530 | -2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,686,216 | €1,649,686 | -€36,530 | -2.2% |
| Tax-exempt reserves | 132 | €522,385 | €486,658 | -€35,727 | -6.8% |
| Distributable reserves | 133 | €1,163,831 | €1,163,029 | -€802 | -0.1% |
| Provisions and deferred taxes | 16 | €339,142 | €306,032 | -€33,110 | -9.8% |
| Deferred taxes | 168 | €339,142 | €306,032 | -€33,110 | -9.8% |
| Amounts payable | 17/49 | €1,655,035 | €2,067,992 | +€412,957 | +25.0% |
| Amounts payable after more than one year | 17 | €599,544 | €943,801 | +€344,257 | +57.4% |
| Financial debts | 170/4 | €599,544 | €943,801 | +€344,257 | +57.4% |
| Amounts payable within one year | 42/48 | €1,040,752 | €1,124,191 | +€83,438 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €78,020 | €103,662 | +€25,642 | +32.9% |
| Financial debts | 43 | €462,780 | €450,000 | -€12,780 | -2.8% |
| Credit institutions | 430/8 | €462,780 | €450,000 | -€12,780 | -2.8% |
| Trade debts | 44 | €14,802 | €82,183 | +€67,381 | +455% |
| Suppliers | 440/4 | €14,802 | €82,183 | +€67,381 | +455% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €15,783 | €18,011 | +€2,228 | +14.1% |
| Taxes | 450/3 | €13,765 | €18,011 | +€4,246 | +30.8% |
| Remuneration and social security | 454/9 | €2,018 | €0 | -€2,018 | -100% |
| Other amounts payable | 47/48 | €469,368 | €470,336 | +€968 | +0.2% |
| Accrued charges and deferred income | 492/3 | €14,738 | €0 | -€14,738 | -100% |
| Remuneration, social security and pensions | 62 | €7,849 | €3,030 | -€4,818 | -61.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198,535 | €212,033 | +€13,498 | +6.8% |
| Other operating charges | 640/8 | €24,558 | €22,307 | -€2,250 | -9.2% |
| Gross operating margin | 9900 | €274,199 | €209,297 | -€64,903 | -23.7% |
| Operating profit (loss) | 9901 | €43,258 | -€28,074 | -€71,332 | |
| Financial income | 75/76B | €39,822 | €40,211 | +€389 | +1.0% |
| Recurring financial income | 75 | €39,822 | €40,211 | +€389 | +1.0% |
| Financial charges | 65/66B | €155,718 | €47,530 | -€108,188 | -69.5% |
| Recurring financial charges | 65 | €155,718 | €47,530 | -€108,188 | -69.5% |
| Profit (loss) for the period before taxes | 9903 | -€72,638 | -€35,393 | +€37,245 | +51.3% |
| Transfer from deferred taxes | 780 | €33,101 | €33,110 | +€9 | 0.0% |
| Income taxes | 67/77 | €14,761 | €34,247 | +€19,486 | +132% |
| Profit (loss) for the period | 9904 | -€54,298 | -€36,530 | +€17,768 | +32.7% |
| Transfer from tax-exempt reserves | 789 | €35,699 | €35,727 | +€28 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,598 | -€802 | +€17,796 | +95.7% |
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 14 October 2026 via checked.be.