KAL-EL: 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.
KAL-EL
Largest movements
- Receivables within one year -€300,155
down €300,155 (-34.8%), from €861,461 to €561,307
of which Other amounts receivable: -€294,626
- Current investments -€300,000
down €300,000 (-100%), from €300,000 to €0
- Cash -€192,892
down €192,892 (-36.4%), from €529,291 to €336,399
mainly Contributions, distributions and other (-€595,000) and Net result for the year (-€201,061)
- Deferred charges and accrued income +€111,453
up €111,453 (+2,377%), from €4,689 to €116,141
- Tangible fixed assets -€46,303
down €46,303 (-4.6%), from €1.0m to €965,192
of which Land and buildings: -€37,062
- Reserves -€796,061
down €796,061 (-48.2%), from €1.7m to €854,977
of which Distributable reserves: -€796,061
- Other debts +€195,000
up €195,000 (+48.7%), from €400,640 to €595,640
- Accrued charges and deferred income -€73,070
down €73,070 (-100%), from €73,070 to €0
- Debts after one year -€63,965
down €63,965 (-13.2%), from €485,936 to €421,971
- Gross operating margin -€777,412
down €777,412, from €663,777 to -€113,636
- Taxes -€178,221
down €178,221 (-99.6%), from €178,892 to €672
- Financial income +€9,183
up €9,183 (+210%), from €4,379 to €13,562
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 | €2,706,961 | €1,979,064 | -€727,897 | -26.9% |
| Fixed assets | 21/28 | €1,011,520 | €965,217 | -€46,303 | -4.6% |
| Tangible fixed assets | 22/27 | €1,011,495 | €965,192 | -€46,303 | -4.6% |
| Land and buildings | 22 | €968,364 | €931,302 | -€37,062 | -3.8% |
| Plant, machinery and equipment | 23 | €13,452 | €11,244 | -€2,208 | -16.4% |
| Furniture and vehicles | 24 | €29,679 | €22,646 | -€7,033 | -23.7% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €1,695,441 | €1,013,847 | -€681,594 | -40.2% |
| Amounts receivable within one year | 40/41 | €861,461 | €561,307 | -€300,155 | -34.8% |
| Trade receivables | 40 | €26,911 | €21,382 | -€5,529 | -20.5% |
| Other amounts receivable | 41 | €834,550 | €539,924 | -€294,626 | -35.3% |
| Current investments | 50/53 | €300,000 | €0 | -€300,000 | -100% |
| Cash at bank and in hand | 54/58 | €529,291 | €336,399 | -€192,892 | -36.4% |
| Deferred charges and accrued income | 490/1 | €4,689 | €116,141 | +€111,453 | +2,377% |
| Total equity and liabilities | 10/49 | €2,706,961 | €1,979,064 | -€727,897 | -26.9% |
| Equity | 10/15 | €1,663,438 | €867,377 | -€796,061 | -47.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,651,038 | €854,977 | -€796,061 | -48.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €1,611,678 | €815,617 | -€796,061 | -49.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,043,523 | €1,111,687 | +€68,164 | +6.5% |
| Amounts payable after more than one year | 17 | €485,936 | €421,971 | -€63,965 | -13.2% |
| Financial debts | 170/4 | €485,936 | €421,971 | -€63,965 | -13.2% |
| Amounts payable within one year | 42/48 | €484,517 | €689,716 | +€205,199 | +42.4% |
| Current portion of amounts payable after more than one year | 42 | €62,731 | €63,965 | +€1,235 | +2.0% |
| Trade debts | 44 | €12,655 | €25,395 | +€12,740 | +101% |
| Suppliers | 440/4 | €12,655 | €25,395 | +€12,740 | +101% |
| Taxes, remuneration and social security | 45 | €8,491 | €4,716 | -€3,775 | -44.5% |
| Taxes | 450/3 | €4,019 | €127 | -€3,892 | -96.8% |
| Remuneration and social security | 454/9 | €4,472 | €4,588 | +€117 | +2.6% |
| Other amounts payable | 47/48 | €400,640 | €595,640 | +€195,000 | +48.7% |
| Accrued charges and deferred income | 492/3 | €73,070 | €0 | -€73,070 | -100% |
| Remuneration, social security and pensions | 62 | €24,146 | €24,814 | +€668 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,892 | €55,168 | +€276 | +0.5% |
| Other operating charges | 640/8 | €10,232 | €5,834 | -€4,398 | -43.0% |
| Gross operating margin | 9900 | €663,777 | -€113,636 | -€777,412 | |
| Operating profit (loss) | 9901 | €574,507 | -€199,452 | -€773,959 | |
| Financial income | 75/76B | €4,379 | €13,562 | +€9,183 | +210% |
| Recurring financial income | 75 | €4,379 | €13,562 | +€9,183 | +210% |
| Financial charges | 65/66B | €19,141 | €14,500 | -€4,641 | -24.2% |
| Recurring financial charges | 65 | €19,141 | €14,500 | -€4,641 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €559,745 | -€200,389 | -€760,134 | |
| Income taxes | 67/77 | €178,892 | €672 | -€178,221 | -99.6% |
| Profit (loss) for the period | 9904 | €380,853 | -€201,061 | -€581,914 | |
| Profit (loss) for the period to be appropriated | 9905 | €380,853 | -€201,061 | -€581,914 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.