KALAPA: 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.
KALAPA
Largest movements
- Receivables after one year +€6.2m
new in 2025: €6.2m
- Current investments -€850,000
down €850,000 (-99.4%), from €855,000 to €5,000
- Reserves +€9.0m
up €9.0m (+2,508%), from €356,949 to €9.3m
of which Distributable reserves: +€9.0m
- Debts after one year -€4.3m
down €4.3m (-100%), from €4.3m to €0
- Contributions +€719,310
up €719,310 (+3,878%), from €18,550 to €737,860
- Gross operating margin -€42,901
down €42,901 (-97.3%), from €44,096 to €1,195
- Financial income -€32,841
down €32,841 (-88.4%), from €37,130 to €4,290
- Taxes -€22,084
down €22,084 (-97.5%), from €22,640 to €555
- Financial charges -€5,309
down €5,309 (-91.8%), from €5,780 to €471
- Other operating charges -€2,769
down €2,769 (-67.1%), from €4,125 to €1,356
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 | €4,733,990 | €10,060,517 | +€5.3m | +113% |
| Fixed assets | 21/28 | €3,625,678 | €3,674,735 | +€49,056 | +1.4% |
| Tangible fixed assets | 22/27 | €3,607,314 | €3,656,370 | +€49,056 | +1.4% |
| Plant, machinery and equipment | 23 | €3,549,331 | €3,612,772 | +€63,442 | +1.8% |
| Furniture and vehicles | 24 | €57,983 | €43,598 | -€14,385 | -24.8% |
| Financial fixed assets | 28 | €18,365 | €18,365 | = | 0.0% |
| Current assets | 29/58 | €1,108,312 | €6,385,782 | +€5.3m | +476% |
| Amounts receivable after more than one year | 29 | - | €6,204,490 | +€6.2m | |
| Other amounts receivable | 291 | - | €6,204,490 | +€6.2m | |
| Amounts receivable within one year | 40/41 | €156,376 | €150,338 | -€6,038 | -3.9% |
| Trade receivables | 40 | €153,351 | €144,593 | -€8,758 | -5.7% |
| Other amounts receivable | 41 | €3,025 | €5,745 | +€2,720 | +89.9% |
| Current investments | 50/53 | €855,000 | €5,000 | -€850,000 | -99.4% |
| Cash at bank and in hand | 54/58 | €92,633 | €22,513 | -€70,119 | -75.7% |
| Deferred charges and accrued income | 490/1 | €4,303 | €3,440 | -€863 | -20.1% |
| Total equity and liabilities | 10/49 | €4,733,990 | €10,060,517 | +€5.3m | +113% |
| Equity | 10/15 | €375,697 | €10,047,391 | +€9.7m | +2,574% |
| Contributions | 10/11 | €18,550 | €737,860 | +€719,310 | +3,878% |
| Reserves | 13 | €356,949 | €9,309,531 | +€9.0m | +2,508% |
| Non-distributable reserves | 130/1 | €0 | €97 | +€97 | |
| Reserves not available under the articles | 1311 | €0 | €97 | +€97 | |
| Distributable reserves | 133 | €356,949 | €9,309,434 | +€9.0m | +2,508% |
| Profit (loss) carried forward | 14 | €198 | €0 | -€198 | -100% |
| Amounts payable | 17/49 | €4,358,293 | €13,126 | -€4.3m | -99.7% |
| Amounts payable after more than one year | 17 | €4,338,246 | €0 | -€4.3m | -100% |
| Financial debts | 170/4 | €4,338,246 | €0 | -€4.3m | -100% |
| Amounts payable within one year | 42/48 | €20,048 | €13,126 | -€6,922 | -34.5% |
| Trade debts | 44 | €934 | €909 | -€24 | -2.6% |
| Suppliers | 440/4 | €934 | €909 | -€24 | -2.6% |
| Taxes, remuneration and social security | 45 | €12,038 | €5,188 | -€6,850 | -56.9% |
| Taxes | 450/3 | €12,038 | €5,188 | -€6,850 | -56.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €7,076 | €7,029 | -€47 | -0.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,967 | €24,144 | +€177 | +0.7% |
| Other operating charges | 640/8 | €4,125 | €1,356 | -€2,769 | -67.1% |
| Gross operating margin | 9900 | €44,096 | €1,195 | -€42,901 | -97.3% |
| Operating profit (loss) | 9901 | €16,003 | -€24,305 | -€40,308 | |
| Financial income | 75/76B | €37,130 | €4,290 | -€32,841 | -88.4% |
| Recurring financial income | 75 | €37,130 | €4,290 | -€32,841 | -88.4% |
| Financial charges | 65/66B | €5,780 | €471 | -€5,309 | -91.8% |
| Recurring financial charges | 65 | €5,780 | €471 | -€5,309 | -91.8% |
| Profit (loss) for the period before taxes | 9903 | €47,354 | -€20,486 | -€67,840 | |
| Income taxes | 67/77 | €22,640 | €555 | -€22,084 | -97.5% |
| Profit (loss) for the period | 9904 | €24,714 | -€21,042 | -€45,756 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,714 | -€21,042 | -€45,756 |
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 16 October 2026 via checked.be.