KALI CONSULT: what changed
Two fiscal 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 CONSULT
Largest movements
- Stocks and contracts -€681,989
down €681,989 (-100.0%), from €681,989 to €0
- Tangible fixed assets -€146,739
down €146,739 (-8.2%), from €1.8m to €1.6m
of which Land and buildings: -€147,439
- Cash +€69,480
up €69,480 (+605.1%), from €11,482 to €80,962
mainly Stocks and contracts (+€681,989) and Other debts (+€153,578)
- Receivables within one year +€67,019
up €67,019 (+96.6%), from €69,373 to €136,392
of which Trade receivables: +€58,750
- Debts after one year -€626,884
down €626,884 (-40.0%), from €1.6m to €939,341
of which Financial debts: -€626,884
- Other debts +€153,578
up €153,578 (+111.0%), from €138,411 to €291,989
- Reserves -€152,374
down €152,374 (-16.2%), from €939,688 to €787,314
of which Distributable reserves: -€250,376
- Current portion of long-term debt -€88,795
down €88,795 (-36.4%), from €243,828 to €155,033
- Accrued charges and deferred income -€38,825
down €38,825 (-97.1%), from €40,000 to €1,175
- Gross operating margin +€68,249
up €68,249 (+27.8%), from €245,694 to €313,943
- Taxes -€17,187
down €17,187 (-63.1%), from €27,229 to €10,042
- Other operating charges +€11,274
up €11,274 (+69.6%), from €16,204 to €27,478
- Financial charges -€7,511
down €7,511 (-13.5%), from €55,795 to €48,284
- Financial income -€4,116
down €4,116 (-100.0%), from €4,116 to €0
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 | €3,105,157 | €2,400,900 | -€704,257 | -22.7% |
| Fixed assets | 21/28 | €2,325,218 | €2,178,479 | -€146,739 | -6.3% |
| Tangible fixed assets | 22/27 | €1,792,018 | €1,645,279 | -€146,739 | -8.2% |
| Land and buildings | 22 | €1,781,769 | €1,634,330 | -€147,439 | -8.3% |
| Plant, machinery and equipment | 23 | €2,139 | €5,334 | +€3,196 | +149.4% |
| Furniture and vehicles | 24 | €8,110 | €5,615 | -€2,495 | -30.8% |
| Financial fixed assets | 28 | €533,200 | €533,200 | = | 0.0% |
| Current assets | 29/58 | €779,939 | €222,421 | -€557,518 | -71.5% |
| Amounts receivable after more than one year | 29 | €10,284 | €0 | -€10,284 | -100.0% |
| Other amounts receivable | 291 | €10,284 | €0 | -€10,284 | -100.0% |
| Stocks and contracts in progress | 3 | €681,989 | €0 | -€681,989 | -100.0% |
| Stocks | 30/36 | €681,989 | €0 | -€681,989 | -100.0% |
| Amounts receivable within one year | 40/41 | €69,373 | €136,392 | +€67,019 | +96.6% |
| Trade receivables | 40 | €33,491 | €92,241 | +€58,750 | +175.4% |
| Other amounts receivable | 41 | €35,882 | €44,151 | +€8,269 | +23.0% |
| Cash at bank and in hand | 54/58 | €11,482 | €80,962 | +€69,480 | +605.1% |
| Deferred charges and accrued income | 490/1 | €6,811 | €5,066 | -€1,745 | -25.6% |
| Total equity and liabilities | 10/49 | €3,105,157 | €2,400,900 | -€704,257 | -22.7% |
| Equity | 10/15 | €1,082,607 | €897,406 | -€185,201 | -17.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €136,718 | €103,892 | -€32,827 | -24.0% |
| Reserves | 13 | €939,688 | €787,314 | -€152,374 | -16.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €71,223 | €169,225 | +€98,002 | +137.6% |
| Distributable reserves | 133 | €866,605 | €616,229 | -€250,376 | -28.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €23,741 | €56,408 | +€32,667 | +137.6% |
| Deferred taxes | 168 | €23,741 | €56,408 | +€32,667 | +137.6% |
| Amounts payable | 17/49 | €1,998,809 | €1,447,086 | -€551,723 | -27.6% |
| Amounts payable after more than one year | 17 | €1,566,225 | €939,341 | -€626,884 | -40.0% |
| Financial debts | 170/4 | €1,560,138 | €933,254 | -€626,884 | -40.2% |
| Other amounts payable | 178/9 | €6,087 | €6,087 | = | 0.0% |
| Amounts payable within one year | 42/48 | €392,584 | €506,570 | +€113,986 | +29.0% |
| Current portion of amounts payable after more than one year | 42 | €243,828 | €155,033 | -€88,795 | -36.4% |
| Financial debts | 43 | - | €33,537 | +€33,537 | |
| Credit institutions | 430/8 | - | €33,472 | +€33,472 | |
| Other loans | 439 | - | €64 | +€64 | |
| Trade debts | 44 | €10,345 | €10,675 | +€330 | +3.2% |
| Suppliers | 440/4 | €10,345 | €10,675 | +€330 | +3.2% |
| Taxes, remuneration and social security | 45 | €0 | €15,337 | +€15,337 | |
| Taxes | 450/3 | €0 | €15,337 | +€15,337 | |
| Other amounts payable | 47/48 | €138,411 | €291,989 | +€153,578 | +111.0% |
| Accrued charges and deferred income | 492/3 | €40,000 | €1,175 | -€38,825 | -97.1% |
| Non-recurring operating income | 76A | €0 | €130,669 | +€130,669 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,653 | €89,306 | -€2,348 | -2.6% |
| Other operating charges | 640/8 | €16,204 | €27,478 | +€11,274 | +69.6% |
| Gross operating margin | 9900 | €245,694 | €313,943 | +€68,249 | +27.8% |
| Operating profit (loss) | 9901 | €137,836 | €197,159 | +€59,323 | +43.0% |
| Financial income | 75/76B | €4,116 | €0 | -€4,116 | -100.0% |
| Recurring financial income | 75 | €4,116 | €0 | -€4,116 | -100.0% |
| Financial charges | 65/66B | €55,795 | €48,284 | -€7,511 | -13.5% |
| Recurring financial charges | 65 | €55,795 | €48,284 | -€7,511 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €86,157 | €148,876 | +€62,719 | +72.8% |
| Transfer to deferred taxes | 680 | €0 | €32,667 | +€32,667 | |
| Income taxes | 67/77 | €27,229 | €10,042 | -€17,187 | -63.1% |
| Profit (loss) for the period | 9904 | €58,928 | €106,167 | +€47,239 | +80.2% |
| Transfer to tax-exempt reserves | 689 | €0 | €98,002 | +€98,002 | |
| Profit (loss) for the period to be appropriated | 9905 | €58,928 | €8,165 | -€50,762 | -86.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.