KALCOUT: 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.
KALCOUT
Largest movements
- Stocks and contracts +€22,811
new in 2025: €22,811
- Receivables within one year -€4,935
down €4,935 (-12.1%), from €40,688 to €35,753
of which Trade receivables: -€4,280
- Cash -€4,207
down €4,207 (-8.7%), from €48,121 to €43,915
mainly Stocks and contracts (-€22,811) and Trade debts (-€9,342)
- Tangible fixed assets -€1,999
down €1,999 (-14.7%), from €13,630 to €11,630
of which Furniture and vehicles: -€1,691
- Reserves +€26,500
up €26,500 (+66.3%), from €40,000 to €66,500
- Trade debts -€9,342
down €9,342 (-24.4%), from €38,214 to €28,872
- Tax, wage and social debts -€8,564
down €8,564 (-100%), from €8,564 to €0
- Other debts +€3,000
new in 2025: €3,000
- Gross operating margin +€15,706
up €15,706 (+36.9%), from €42,611 to €58,317
- Write-downs +€5,000
new in 2025: €5,000
- Other operating charges +€4,633
up €4,633 (+528%), from €878 to €5,511
- Taxes +€2,953
up €2,953 (+25.6%), from €11,547 to €14,501
- Depreciation +€2,211
up €2,211 (+109%), from €2,030 to €4,242
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 | €102,527 | €114,109 | +€11,582 | +11.3% |
| Fixed assets | 21/28 | €13,630 | €11,630 | -€1,999 | -14.7% |
| Tangible fixed assets | 22/27 | €13,630 | €11,630 | -€1,999 | -14.7% |
| Plant, machinery and equipment | 23 | €1,022 | €714 | -€308 | -30.2% |
| Furniture and vehicles | 24 | €12,607 | €10,916 | -€1,691 | -13.4% |
| Current assets | 29/58 | €88,898 | €102,479 | +€13,582 | +15.3% |
| Stocks and contracts in progress | 3 | - | €22,811 | +€22,811 | |
| Stocks | 30/36 | - | €22,811 | +€22,811 | |
| Amounts receivable within one year | 40/41 | €40,688 | €35,753 | -€4,935 | -12.1% |
| Trade receivables | 40 | €26,098 | €21,817 | -€4,280 | -16.4% |
| Other amounts receivable | 41 | €14,591 | €13,936 | -€655 | -4.5% |
| Cash at bank and in hand | 54/58 | €48,121 | €43,915 | -€4,207 | -8.7% |
| Deferred charges and accrued income | 490/1 | €88 | €0 | -€88 | -100% |
| Total equity and liabilities | 10/49 | €102,527 | €114,109 | +€11,582 | +11.3% |
| Equity | 10/15 | €55,642 | €82,237 | +€26,595 | +47.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €40,000 | €66,500 | +€26,500 | +66.3% |
| Distributable reserves | 133 | €40,000 | €66,500 | +€26,500 | +66.3% |
| Profit (loss) carried forward | 14 | €13,642 | €13,737 | +€95 | +0.7% |
| Amounts payable | 17/49 | €46,885 | €31,872 | -€15,013 | -32.0% |
| Amounts payable within one year | 42/48 | €46,778 | €31,872 | -€14,906 | -31.9% |
| Trade debts | 44 | €38,214 | €28,872 | -€9,342 | -24.4% |
| Suppliers | 440/4 | €38,214 | €28,872 | -€9,342 | -24.4% |
| Taxes, remuneration and social security | 45 | €8,564 | €0 | -€8,564 | -100% |
| Taxes | 450/3 | €8,564 | €0 | -€8,564 | -100% |
| Other amounts payable | 47/48 | - | €3,000 | +€3,000 | |
| Accrued charges and deferred income | 492/3 | €106 | €0 | -€106 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,030 | €4,242 | +€2,211 | +109% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,000 | +€5,000 | |
| Other operating charges | 640/8 | €878 | €5,511 | +€4,633 | +528% |
| Non-recurring operating charges | 66A | €159 | €0 | -€159 | -100% |
| Gross operating margin | 9900 | €42,611 | €58,317 | +€15,706 | +36.9% |
| Operating profit (loss) | 9901 | €39,544 | €43,564 | +€4,020 | +10.2% |
| Financial income | 75/76B | €295 | €792 | +€497 | +168% |
| Recurring financial income | 75 | €295 | €792 | +€497 | +168% |
| Financial charges | 65/66B | €151 | €260 | +€109 | +72.6% |
| Recurring financial charges | 65 | €151 | €260 | +€109 | +72.6% |
| Profit (loss) for the period before taxes | 9903 | €39,689 | €44,096 | +€4,407 | +11.1% |
| Income taxes | 67/77 | €11,547 | €14,501 | +€2,953 | +25.6% |
| Profit (loss) for the period | 9904 | €28,141 | €29,595 | +€1,453 | +5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,141 | €29,595 | +€1,453 | +5.2% |
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 18 October 2026 via checked.be.