Kalmwelt: 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.
Kalmwelt
Largest movements
- Tangible fixed assets -€24,075
down €24,075 (-2.2%), from €1.1m to €1.1m
- Debts after one year -€43,356
down €43,356 (-4.1%), from €1.0m to €1.0m
- Profit (loss) carried forward +€31,190
up €31,190 (+29.4%), from -€105,980 to -€74,791
- Depreciation -€143,019
down €143,019 (-85.6%), from €167,094 to €24,075
- Gross operating margin -€20,586
down €20,586 (-16.9%), from €121,546 to €100,961
- Financial charges -€12,104
down €12,104 (-24.1%), from €50,205 to €38,102
- Other operating charges -€2,633
down €2,633 (-25.7%), from €10,227 to €7,594
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 | €1,141,580 | €1,123,025 | -€18,556 | -1.6% |
| Fixed assets | 21/28 | €1,109,706 | €1,085,631 | -€24,075 | -2.2% |
| Tangible fixed assets | 22/27 | €1,109,706 | €1,085,631 | -€24,075 | -2.2% |
| Land and buildings | 22 | €1,109,706 | €1,085,631 | -€24,075 | -2.2% |
| Current assets | 29/58 | €31,875 | €37,394 | +€5,519 | +17.3% |
| Amounts receivable within one year | 40/41 | €2,980 | €645 | -€2,335 | -78.4% |
| Trade receivables | 40 | €2,980 | €645 | -€2,335 | -78.4% |
| Cash at bank and in hand | 54/58 | €25,181 | €26,383 | +€1,202 | +4.8% |
| Deferred charges and accrued income | 490/1 | €3,714 | €10,366 | +€6,652 | +179.1% |
| Total equity and liabilities | 10/49 | €1,141,580 | €1,123,025 | -€18,556 | -1.6% |
| Equity | 10/15 | €44,020 | €75,209 | +€31,190 | +70.9% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€105,980 | -€74,791 | +€31,190 | +29.4% |
| Amounts payable | 17/49 | €1,097,561 | €1,047,816 | -€49,745 | -4.5% |
| Amounts payable after more than one year | 17 | €1,047,816 | €1,004,460 | -€43,356 | -4.1% |
| Financial debts | 170/4 | €1,047,816 | €1,004,460 | -€43,356 | -4.1% |
| Amounts payable within one year | 42/48 | €46,451 | €43,356 | -€3,095 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €45,290 | €43,356 | -€1,934 | -4.3% |
| Other amounts payable | 47/48 | €1,160 | - | -€1,160 | |
| Accrued charges and deferred income | 492/3 | €3,295 | - | -€3,295 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €167,094 | €24,075 | -€143,019 | -85.6% |
| Other operating charges | 640/8 | €10,227 | €7,594 | -€2,633 | -25.7% |
| Gross operating margin | 9900 | €121,546 | €100,961 | -€20,586 | -16.9% |
| Operating profit (loss) | 9901 | -€55,775 | €69,292 | +€125,067 | |
| Financial charges | 65/66B | €50,205 | €38,102 | -€12,104 | -24.1% |
| Recurring financial charges | 65 | €50,205 | €38,102 | -€12,104 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | -€105,980 | €31,190 | +€137,170 | |
| Profit (loss) for the period | 9904 | -€105,980 | €31,190 | +€137,170 | |
| Profit (loss) for the period to be appropriated | 9905 | -€105,980 | €31,190 | +€137,170 |
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 6 October 2026 via checked.be.