Kalem Training: 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.
Kalem Training
Largest movements
- Intangible fixed assets +€13,714
up €13,714 (+238%), from €5,762 to €19,476
- Cash -€4,571
down €4,571 (-39.4%), from €11,602 to €7,031
mainly Investment in fixed assets (net) (-€19,649) and Other debts (-€8,334)
- Tangible fixed assets +€1,139
new in 2025: €1,139
- Receivables within one year -€910
down €910 (-47.8%), from €1,902 to €993
of which Trade receivables: -€530
- Trade debts +€14,023
up €14,023 (+2,848%), from €492 to €14,516
- Other debts -€8,334
down €8,334 (-45.0%), from €18,500 to €10,166
- Profit (loss) carried forward +€1,726
up €1,726, from -€1,726 to €0
- Reserves +€1,072
new in 2025: €1,072
- Tax, wage and social debts +€885
new in 2025: €885
- Gross operating margin +€11,483
up €11,483, from -€986 to €10,496
- Depreciation +€4,378
up €4,378 (+1,048%), from €418 to €4,796
- Taxes +€885
new in 2025: €885
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 | €19,267 | €28,639 | +€9,372 | +48.6% |
| Fixed assets | 21/28 | €5,762 | €20,615 | +€14,853 | +258% |
| Intangible fixed assets | 21 | €5,762 | €19,476 | +€13,714 | +238% |
| Tangible fixed assets | 22/27 | - | €1,139 | +€1,139 | |
| Furniture and vehicles | 24 | - | €1,139 | +€1,139 | |
| Current assets | 29/58 | €13,504 | €8,024 | -€5,481 | -40.6% |
| Amounts receivable within one year | 40/41 | €1,902 | €993 | -€910 | -47.8% |
| Trade receivables | 40 | €1,024 | €493 | -€530 | -51.8% |
| Other amounts receivable | 41 | €879 | €499 | -€379 | -43.2% |
| Cash at bank and in hand | 54/58 | €11,602 | €7,031 | -€4,571 | -39.4% |
| Total equity and liabilities | 10/49 | €19,267 | €28,639 | +€9,372 | +48.6% |
| Equity | 10/15 | €274 | €3,072 | +€2,797 | +1,021% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €1,072 | +€1,072 | |
| Distributable reserves | 133 | - | €1,072 | +€1,072 | |
| Profit (loss) carried forward | 14 | -€1,726 | €0 | +€1,726 | |
| Amounts payable | 17/49 | €18,992 | €25,567 | +€6,575 | +34.6% |
| Amounts payable within one year | 42/48 | €18,992 | €25,567 | +€6,575 | +34.6% |
| Trade debts | 44 | €492 | €14,516 | +€14,023 | +2,848% |
| Suppliers | 440/4 | €492 | €14,516 | +€14,023 | +2,848% |
| Taxes, remuneration and social security | 45 | - | €885 | +€885 | |
| Taxes | 450/3 | - | €885 | +€885 | |
| Other amounts payable | 47/48 | €18,500 | €10,166 | -€8,334 | -45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €418 | €4,796 | +€4,378 | +1,048% |
| Other operating charges | 640/8 | €322 | €342 | +€20 | +6.2% |
| Gross operating margin | 9900 | -€986 | €10,496 | +€11,483 | |
| Operating profit (loss) | 9901 | -€1,726 | €5,359 | +€7,084 | |
| Financial charges | 65/66B | - | €10 | +€10 | |
| Recurring financial charges | 65 | - | €10 | +€10 | |
| Profit (loss) for the period before taxes | 9903 | -€1,726 | €5,349 | +€7,075 | |
| Income taxes | 67/77 | - | €885 | +€885 | |
| Profit (loss) for the period | 9904 | -€1,726 | €4,463 | +€6,189 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,726 | €4,463 | +€6,189 |
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.