KALI: 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.
KALI
Largest movements
- Current investments -€250,000
down €250,000 (-74.6%), from €335,000 to €85,000
- Receivables within one year +€68,326
up €68,326 (+27.2%), from €251,109 to €319,435
of which Other amounts receivable: +€65,240
- Cash -€22,378
down €22,378 (-13.4%), from €167,179 to €144,802
mainly Contributions, distributions and other (-€200,000) and Receivables within one year (-€68,326)
- Reserves -€163,286
down €163,286 (-14.5%), from €1.1m to €963,393
of which Distributable reserves: -€163,286
- Other debts -€30,108
down €30,108 (-33.8%), from €88,958 to €58,850
- Debts after one year -€26,129
down €26,129 (-9.8%), from €266,802 to €240,673
- Depreciation -€53,603
down €53,603 (-62.3%), from €86,069 to €32,466
- Financial income +€30,254
up €30,254 (+202.8%), from €14,921 to €45,175
- Taxes +€16,511
up €16,511 (+771.5%), from €2,140 to €18,651
- Financial charges +€15,420
up €15,420 (+820.9%), from €1,879 to €17,299
- Gross operating margin -€14,832
down €14,832 (-18.9%), from €78,398 to €63,565
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.
Cash bridge derived
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 | €1,581,894 | €1,374,061 | -€207,833 | -13.1% |
| Fixed assets | 21/28 | €816,199 | €807,996 | -€8,203 | -1.0% |
| Tangible fixed assets | 22/27 | €816,199 | €807,996 | -€8,203 | -1.0% |
| Land and buildings | 22 | €806,301 | €799,870 | -€6,430 | -0.8% |
| Plant, machinery and equipment | 23 | €8,506 | €7,141 | -€1,366 | -16.1% |
| Furniture and vehicles | 24 | €1,392 | €985 | -€407 | -29.3% |
| Current assets | 29/58 | €765,695 | €566,065 | -€199,630 | -26.1% |
| Amounts receivable within one year | 40/41 | €251,109 | €319,435 | +€68,326 | +27.2% |
| Trade receivables | 40 | - | €3,086 | +€3,086 | |
| Other amounts receivable | 41 | €251,109 | €316,349 | +€65,240 | +26.0% |
| Current investments | 50/53 | €335,000 | €85,000 | -€250,000 | -74.6% |
| Cash at bank and in hand | 54/58 | €167,179 | €144,802 | -€22,378 | -13.4% |
| Deferred charges and accrued income | 490/1 | €12,407 | €16,829 | +€4,422 | +35.6% |
| Total equity and liabilities | 10/49 | €1,581,894 | €1,374,061 | -€207,833 | -13.1% |
| Equity | 10/15 | €1,201,047 | €1,037,761 | -€163,286 | -13.6% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €1,126,679 | €963,393 | -€163,286 | -14.5% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,437 | €7,437 | = | 0.0% |
| Distributable reserves | 133 | €1,119,243 | €955,956 | -€163,286 | -14.6% |
| Amounts payable | 17/49 | €380,847 | €336,300 | -€44,547 | -11.7% |
| Amounts payable after more than one year | 17 | €266,802 | €240,673 | -€26,129 | -9.8% |
| Financial debts | 170/4 | €266,802 | €240,673 | -€26,129 | -9.8% |
| Amounts payable within one year | 42/48 | €113,095 | €95,627 | -€17,468 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €20,965 | €26,129 | +€5,164 | +24.6% |
| Trade debts | 44 | €539 | €2,158 | +€1,619 | +300.5% |
| Suppliers | 440/4 | €539 | €2,158 | +€1,619 | +300.5% |
| Taxes, remuneration and social security | 45 | €2,633 | €8,490 | +€5,857 | +222.5% |
| Taxes | 450/3 | €2,633 | €8,490 | +€5,857 | +222.5% |
| Other amounts payable | 47/48 | €88,958 | €58,850 | -€30,108 | -33.8% |
| Accrued charges and deferred income | 492/3 | €950 | - | -€950 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,069 | €32,466 | -€53,603 | -62.3% |
| Other operating charges | 640/8 | €2,855 | €3,612 | +€757 | +26.5% |
| Gross operating margin | 9900 | €78,398 | €63,565 | -€14,832 | -18.9% |
| Operating profit (loss) | 9901 | -€10,526 | €27,488 | +€38,014 | |
| Financial income | 75/76B | €14,921 | €45,175 | +€30,254 | +202.8% |
| Recurring financial income | 75 | €14,921 | €45,175 | +€30,254 | +202.8% |
| Financial charges | 65/66B | €1,879 | €17,299 | +€15,420 | +820.9% |
| Recurring financial charges | 65 | €1,879 | €17,299 | +€15,420 | +820.9% |
| Profit (loss) for the period before taxes | 9903 | €2,516 | €55,365 | +€52,848 | +2100.1% |
| Income taxes | 67/77 | €2,140 | €18,651 | +€16,511 | +771.5% |
| Profit (loss) for the period | 9904 | €376 | €36,714 | +€36,337 | +9654.9% |
| Profit (loss) for the period to be appropriated | 9905 | €376 | €36,714 | +€36,337 | +9654.9% |
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 11 October 2026 via checked.be.