KALAMAKI: 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.
KALAMAKI
Largest movements
- Current investments +€800,000
new in 2025: €800,000
- Tangible fixed assets -€514,774
down €514,774 (-8.8%), from €5.9m to €5.4m
of which Land and buildings: -€475,406
- Cash +€172,168
up €172,168 (+103%), from €167,768 to €339,935
mainly Net result for the year (+€518,485) and Investment in fixed assets (net) (+€257,995)
- Reserves +€518,482
up €518,482 (+58.4%), from €887,548 to €1.4m
of which Tax-exempt reserves: +€386,062
- Debts after one year -€141,869
down €141,869 (-5.6%), from €2.6m to €2.4m
of which Financial debts: -€139,169
- Provisions +€124,483
up €124,483 (+80.3%), from €154,981 to €279,465
- Other operating charges -€495,862
down €495,862 (-94.7%), from €523,353 to €27,491
- Gross operating margin +€408,391
up €408,391 (+65.3%), from €625,176 to €1.0m
- Depreciation +€40,760
up €40,760 (+18.9%), from €216,019 to €256,779
- Financial charges +€32,200
up €32,200 (+52.9%), from €60,908 to €93,109
- Taxes +€13,196
up €13,196 (+3,638%), from €363 to €13,559
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 | €6,107,413 | €6,583,618 | +€476,206 | +7.8% |
| Fixed assets | 21/28 | €5,870,478 | €5,355,703 | -€514,774 | -8.8% |
| Tangible fixed assets | 22/27 | €5,870,478 | €5,355,703 | -€514,774 | -8.8% |
| Land and buildings | 22 | €5,620,179 | €5,144,773 | -€475,406 | -8.5% |
| Plant, machinery and equipment | 23 | €1,093 | €870 | -€223 | -20.4% |
| Furniture and vehicles | 24 | €23,438 | €0 | -€23,438 | -100% |
| Other tangible fixed assets | 26 | €225,767 | €210,060 | -€15,707 | -7.0% |
| Current assets | 29/58 | €236,935 | €1,227,915 | +€990,980 | +418% |
| Amounts receivable within one year | 40/41 | €56,375 | €85,825 | +€29,449 | +52.2% |
| Trade receivables | 40 | €54,572 | €84,643 | +€30,071 | +55.1% |
| Other amounts receivable | 41 | €1,803 | €1,181 | -€622 | -34.5% |
| Current investments | 50/53 | - | €800,000 | +€800,000 | |
| Cash at bank and in hand | 54/58 | €167,768 | €339,935 | +€172,168 | +103% |
| Deferred charges and accrued income | 490/1 | €12,792 | €2,155 | -€10,638 | -83.2% |
| Total equity and liabilities | 10/49 | €6,107,413 | €6,583,618 | +€476,206 | +7.8% |
| Equity | 10/15 | €1,981,961 | €2,500,446 | +€518,485 | +26.2% |
| Contributions | 10/11 | €182,500 | €182,500 | = | 0.0% |
| Capital | 10 | €182,500 | €182,500 | = | 0.0% |
| Issued capital | 100 | €182,500 | €182,500 | = | 0.0% |
| Reserves | 13 | €887,548 | €1,406,029 | +€518,482 | +58.4% |
| Non-distributable reserves | 130/1 | €18,250 | €18,250 | = | 0.0% |
| Legal reserve | 130 | €18,250 | €18,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €434,298 | €820,359 | +€386,062 | +88.9% |
| Distributable reserves | 133 | €435,000 | €567,420 | +€132,420 | +30.4% |
| Profit (loss) carried forward | 14 | €911,913 | €911,917 | +€3 | 0.0% |
| Provisions and deferred taxes | 16 | €154,981 | €279,465 | +€124,483 | +80.3% |
| Deferred taxes | 168 | €154,981 | €279,465 | +€124,483 | +80.3% |
| Amounts payable | 17/49 | €3,970,470 | €3,803,708 | -€166,763 | -4.2% |
| Amounts payable after more than one year | 17 | €2,554,495 | €2,412,626 | -€141,869 | -5.6% |
| Financial debts | 170/4 | €2,546,992 | €2,407,823 | -€139,169 | -5.5% |
| Other amounts payable | 178/9 | €7,503 | €4,803 | -€2,700 | -36.0% |
| Amounts payable within one year | 42/48 | €1,373,847 | €1,370,702 | -€3,145 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €137,705 | €139,169 | +€1,464 | +1.1% |
| Trade debts | 44 | €21,382 | €21,117 | -€265 | -1.2% |
| Suppliers | 440/4 | €21,382 | €21,117 | -€265 | -1.2% |
| Taxes, remuneration and social security | 45 | €11,636 | €16,965 | +€5,328 | +45.8% |
| Taxes | 450/3 | €11,636 | €10,115 | -€1,522 | -13.1% |
| Remuneration and social security | 454/9 | - | €6,850 | +€6,850 | |
| Other amounts payable | 47/48 | €1,203,124 | €1,193,451 | -€9,673 | -0.8% |
| Accrued charges and deferred income | 492/3 | €42,129 | €20,380 | -€21,749 | -51.6% |
| Non-recurring operating income | 76A | €395,630 | €595,443 | +€199,813 | +50.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €216,019 | €256,779 | +€40,760 | +18.9% |
| Other operating charges | 640/8 | €523,353 | €27,491 | -€495,862 | -94.7% |
| Gross operating margin | 9900 | €625,176 | €1,033,567 | +€408,391 | +65.3% |
| Operating profit (loss) | 9901 | -€114,196 | €749,297 | +€863,494 | |
| Financial income | 75/76B | €3,994 | €339 | -€3,656 | -91.5% |
| Recurring financial income | 75 | €3,994 | €339 | -€3,656 | -91.5% |
| Financial charges | 65/66B | €60,908 | €93,109 | +€32,200 | +52.9% |
| Recurring financial charges | 65 | €60,908 | €93,109 | +€32,200 | +52.9% |
| Profit (loss) for the period before taxes | 9903 | -€171,110 | €656,528 | +€827,638 | |
| Transfer from deferred taxes | 780 | €71,917 | €24,377 | -€47,540 | -66.1% |
| Transfer to deferred taxes | 680 | €98,907 | €148,861 | +€49,953 | +50.5% |
| Income taxes | 67/77 | €363 | €13,559 | +€13,196 | +3,638% |
| Profit (loss) for the period | 9904 | -€198,463 | €518,485 | +€716,948 | |
| Transfer from tax-exempt reserves | 789 | €211,372 | €60,521 | -€150,851 | -71.4% |
| Transfer to tax-exempt reserves | 689 | €296,722 | €446,582 | +€149,860 | +50.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€283,814 | €132,423 | +€416,237 |
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 19 October 2026 via checked.be.