KAN: 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.
KAN
Largest movements
- Receivables within one year -€468,737
down €468,737 (-57.3%), from €818,047 to €349,309
of which Trade receivables: -€471,737
- Intangible fixed assets +€318,823
up €318,823 (+117.9%), from €270,336 to €589,159
- Financial fixed assets +€39,772
up €39,772 (+354.2%), from €11,228 to €51,000
- Cash +€34,368
up €34,368 (+14.2%), from €242,362 to €276,729
mainly Receivables within one year (+€468,737) and Debts after one year (+€208,861)
- Deferred charges and accrued income +€30,024
up €30,024 (+89.9%), from €33,385 to €63,409
- Trade debts -€381,975
down €381,975 (-71.3%), from €535,742 to €153,767
- Debts after one year +€208,861
new in 2025: €208,861
- Reserves -€178,000
down €178,000 (-47.3%), from €376,200 to €198,200
of which Distributable reserves: -€178,000
- Investment grants +€164,933
up €164,933 (+659.7%), from €25,000 to €189,933
- Short-term financial debts +€110,852
up €110,852 (+752.1%), from €14,739 to €125,591
- Staff costs +€182,952
up €182,952 (+165.2%), from €110,756 to €293,708
- Gross operating margin -€172,313
down €172,313 (-46.4%), from €371,052 to €198,739
- Depreciation +€85,594
up €85,594 (+1743.1%), from €4,910 to €90,504
- Financial income +€32,712
up €32,712 (+630.2%), from €5,191 to €37,903
- Taxes -€15,965
down €15,965, from €2,291 to -€13,674
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 | €1,379,884 | €1,340,291 | -€39,593 | -2.9% |
| Fixed assets | 21/28 | €286,091 | €650,843 | +€364,752 | +127.5% |
| Intangible fixed assets | 21 | €270,336 | €589,159 | +€318,823 | +117.9% |
| Tangible fixed assets | 22/27 | €4,527 | €10,684 | +€6,157 | +136.0% |
| Plant, machinery and equipment | 23 | €1,947 | €9,282 | +€7,336 | +376.8% |
| Furniture and vehicles | 24 | €2,580 | €1,402 | -€1,178 | -45.7% |
| Financial fixed assets | 28 | €11,228 | €51,000 | +€39,772 | +354.2% |
| Current assets | 29/58 | €1,093,793 | €689,448 | -€404,346 | -37.0% |
| Amounts receivable within one year | 40/41 | €818,047 | €349,309 | -€468,737 | -57.3% |
| Trade receivables | 40 | €818,047 | €346,309 | -€471,737 | -57.7% |
| Other amounts receivable | 41 | €0 | €3,000 | +€3,000 | |
| Cash at bank and in hand | 54/58 | €242,362 | €276,729 | +€34,368 | +14.2% |
| Deferred charges and accrued income | 490/1 | €33,385 | €63,409 | +€30,024 | +89.9% |
| Total equity and liabilities | 10/49 | €1,379,884 | €1,340,291 | -€39,593 | -2.9% |
| Equity | 10/15 | €463,461 | €450,519 | -€12,943 | -2.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €376,200 | €198,200 | -€178,000 | -47.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €370,000 | €192,000 | -€178,000 | -48.1% |
| Profit (loss) carried forward | 14 | €261 | €385 | +€124 | +47.5% |
| Investment grants | 15 | €25,000 | €189,933 | +€164,933 | +659.7% |
| Amounts payable | 17/49 | €916,423 | €889,772 | -€26,651 | -2.9% |
| Amounts payable after more than one year | 17 | - | €208,861 | +€208,861 | |
| Financial debts | 170/4 | - | €208,861 | +€208,861 | |
| Amounts payable within one year | 42/48 | €786,516 | €615,915 | -€170,601 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | - | €45,985 | +€45,985 | |
| Financial debts | 43 | €14,739 | €125,591 | +€110,852 | +752.1% |
| Credit institutions | 430/8 | €14,739 | €125,591 | +€110,852 | +752.1% |
| Trade debts | 44 | €535,742 | €153,767 | -€381,975 | -71.3% |
| Suppliers | 440/4 | €535,742 | €153,767 | -€381,975 | -71.3% |
| Taxes, remuneration and social security | 45 | €13,691 | €65,538 | +€51,847 | +378.7% |
| Taxes | 450/3 | €2,359 | €68 | -€2,291 | -97.1% |
| Remuneration and social security | 454/9 | €11,332 | €65,470 | +€54,138 | +477.7% |
| Other amounts payable | 47/48 | €222,344 | €225,034 | +€2,691 | +1.2% |
| Accrued charges and deferred income | 492/3 | €129,907 | €64,997 | -€64,911 | -50.0% |
| Remuneration, social security and pensions | 62 | €110,756 | €293,708 | +€182,952 | +165.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,910 | €90,504 | +€85,594 | +1743.1% |
| Other operating charges | 640/8 | €8,639 | €15,793 | +€7,155 | +82.8% |
| Gross operating margin | 9900 | €371,052 | €198,739 | -€172,313 | -46.4% |
| Operating profit (loss) | 9901 | €246,747 | -€201,266 | -€448,013 | |
| Financial income | 75/76B | €5,191 | €37,903 | +€32,712 | +630.2% |
| Recurring financial income | 75 | €5,191 | €37,903 | +€32,712 | +630.2% |
| Financial charges | 65/66B | €14,698 | €28,187 | +€13,489 | +91.8% |
| Recurring financial charges | 65 | €14,698 | €3,187 | -€11,511 | -78.3% |
| Non-recurring financial charges | 66B | - | €25,000 | +€25,000 | |
| Profit (loss) for the period before taxes | 9903 | €237,240 | -€191,550 | -€428,790 | |
| Income taxes | 67/77 | €2,291 | -€13,674 | -€15,965 | |
| Profit (loss) for the period | 9904 | €234,949 | -€177,876 | -€412,825 | |
| Profit (loss) for the period to be appropriated | 9905 | €234,949 | -€177,876 | -€412,825 |
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 29 September 2026 via checked.be.