KALAHARI: 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.
KALAHARI
Largest movements
- Receivables within one year +€508,517
up €508,517 (+101%), from €501,527 to €1.0m
of which Trade receivables: +€508,695
- Cash +€67,101
up €67,101 (+711%), from €9,432 to €76,534
mainly Trade debts (+€207,404) and Accrued charges and deferred income (+€182,928)
- Deferred charges and accrued income -€51,002
down €51,002 (-31.8%), from €160,450 to €109,448
- Current investments -€50,249
down €50,249 (-48.1%), from €104,489 to €54,241
- Trade debts +€207,404
up €207,404 (+50.6%), from €410,221 to €617,625
of which Suppliers: +€208,982
- Accrued charges and deferred income +€182,928
up €182,928 (+309%), from €59,154 to €242,081
- Profit (loss) carried forward +€133,006
up €133,006 (+40.2%), from €331,226 to €464,232
- Other debts -€68,800
down €68,800 (-100%), from €68,800 to €0
- Tax, wage and social debts +€27,179
up €27,179 (+56.5%), from €48,139 to €75,318
of which Remuneration and social security: +€14,162
- Staff costs -€39,612
down €39,612 (-16.5%), from €239,894 to €200,282
- Gross operating margin -€18,694
down €18,694 (-4.4%), from €426,697 to €408,003
- Taxes +€5,754
up €5,754 (+12.2%), from €47,066 to €52,820
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 | €949,607 | €1,414,417 | +€464,810 | +48.9% |
| Fixed assets | 21/28 | €173,707 | €164,150 | -€9,557 | -5.5% |
| Intangible fixed assets | 21 | €315 | €0 | -€315 | -100% |
| Tangible fixed assets | 22/27 | €172,744 | €163,502 | -€9,242 | -5.4% |
| Land and buildings | 22 | €154,837 | €148,765 | -€6,072 | -3.9% |
| Furniture and vehicles | 24 | €2,489 | €1,145 | -€1,344 | -54.0% |
| Other tangible fixed assets | 26 | €15,419 | €13,593 | -€1,826 | -11.8% |
| Financial fixed assets | 28 | €648 | €648 | = | 0.0% |
| Current assets | 29/58 | €775,899 | €1,250,267 | +€474,367 | +61.1% |
| Amounts receivable within one year | 40/41 | €501,527 | €1,010,044 | +€508,517 | +101% |
| Trade receivables | 40 | €486,809 | €995,504 | +€508,695 | +104% |
| Other amounts receivable | 41 | €14,718 | €14,540 | -€178 | -1.2% |
| Current investments | 50/53 | €104,489 | €54,241 | -€50,249 | -48.1% |
| Cash at bank and in hand | 54/58 | €9,432 | €76,534 | +€67,101 | +711% |
| Deferred charges and accrued income | 490/1 | €160,450 | €109,448 | -€51,002 | -31.8% |
| Total equity and liabilities | 10/49 | €949,607 | €1,414,417 | +€464,810 | +48.9% |
| Equity | 10/15 | €346,386 | €479,392 | +€133,006 | +38.4% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 0.0% |
| Reserves | 13 | €5,860 | €5,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,860 | €5,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Own shares acquired | 1312 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €331,226 | €464,232 | +€133,006 | +40.2% |
| Amounts payable | 17/49 | €603,220 | €935,024 | +€331,804 | +55.0% |
| Amounts payable within one year | 42/48 | €544,067 | €692,943 | +€148,876 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €16,906 | €0 | -€16,906 | -100% |
| Trade debts | 44 | €410,221 | €617,625 | +€207,404 | +50.6% |
| Suppliers | 440/4 | €408,643 | €617,625 | +€208,982 | +51.1% |
| Bills of exchange payable | 441 | €1,578 | - | -€1,578 | |
| Taxes, remuneration and social security | 45 | €48,139 | €75,318 | +€27,179 | +56.5% |
| Taxes | 450/3 | €24,887 | €37,903 | +€13,016 | +52.3% |
| Remuneration and social security | 454/9 | €23,252 | €37,414 | +€14,162 | +60.9% |
| Other amounts payable | 47/48 | €68,800 | €0 | -€68,800 | -100% |
| Accrued charges and deferred income | 492/3 | €59,154 | €242,081 | +€182,928 | +309% |
| Remuneration, social security and pensions | 62 | €239,894 | €200,282 | -€39,612 | -16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,779 | €9,557 | -€222 | -2.3% |
| Other operating charges | 640/8 | €4,157 | €4,258 | +€101 | +2.4% |
| Non-recurring operating charges | 66A | - | €2,656 | +€2,656 | |
| Gross operating margin | 9900 | €426,697 | €408,003 | -€18,694 | -4.4% |
| Operating profit (loss) | 9901 | €172,868 | €191,250 | +€18,382 | +10.6% |
| Financial income | 75/76B | €1,463 | €1,951 | +€488 | +33.4% |
| Recurring financial income | 75 | €1,463 | €1,951 | +€488 | +33.4% |
| Financial charges | 65/66B | €8,812 | €7,374 | -€1,437 | -16.3% |
| Recurring financial charges | 65 | €8,812 | €7,374 | -€1,437 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €165,519 | €185,826 | +€20,307 | +12.3% |
| Income taxes | 67/77 | €47,066 | €52,820 | +€5,754 | +12.2% |
| Profit (loss) for the period | 9904 | €118,453 | €133,006 | +€14,553 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €118,453 | €133,006 | +€14,553 | +12.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.