KANAAL: what changed
What changed
KANAAL
NACE 93.292, Sports, amusement and recreation activities
filed annual accounts (NBB)
Net result for the year
€13,987
2024 · €50,733-€36,745
Equity
€246,307
2024 · €285,753-€39,445
Cash
€58,908
2024 · €86,882-€27,974
Balance sheet total
€517,593
2024 · €550,791-€33,199
Largest movements
Assets
- Tangible fixed assets -€32,165
down €32,165 (-7.5%), from €426,036 to €393,871
of which Plant, machinery and equipment: -€18,224
- Cash -€27,974
down €27,974 (-32.2%), from €86,882 to €58,908
mainly Contributions, distributions and other (-€53,433) and Debts after one year (-€31,737)
- Current investments +€24,990
up €24,990 (+727%), from €3,439 to €28,429
Equity and liabilities
- Other debts +€56,652
up €56,652 (+425%), from €13,333 to €69,986
- Reserves -€39,445
down €39,445 (-14.8%), from €267,153 to €227,707
- Debts after one year -€31,737
down €31,737 (-19.7%), from €160,699 to €128,962
- Tax, wage and social debts -€10,862
down €10,862 (-26.5%), from €41,063 to €30,202
of which Taxes: -€10,142
- Trade debts -€6,543
down €6,543 (-50.4%), from €12,993 to €6,451
Income statement
- Gross operating margin -€58,456
down €58,456 (-17.7%), from €330,278 to €271,821
- Taxes -€13,950
down €13,950 (-59.2%), from €23,576 to €9,626
- Staff costs -€12,571
down €12,571 (-7.4%), from €170,070 to €157,499
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€50,733
Gross operating margin
-€58,456
Staff costs
+€12,571
Depreciation
-€1,669
Other operating charges
-€1,195
Financial income
-€421
Financial charges
-€1,526
Taxes
+€13,950
Result 2025
€13,987
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€99,509
Investment
-€40,908
Financing
-€86,575
Cash 2024
€86,882
From operations (derived)
+€99,509
Net result for the year
+€13,987
Depreciation
+€48,083
Stocks and contracts
+€946
Receivables within one year
-€742
Deferred charges and accrued income
-€2,155
Trade debts
-€6,543
Tax, wage and social debts
-€10,862
Other debts
+€56,652
Accrued charges and deferred income
+€141
Investment (derived)
-€40,908
Investment in fixed assets (net)
-€15,918
Current investments
-€24,990
Financing
-€86,575
Debts after one year
-€31,737
Current portion of long-term debt
-€1,406
Contributions, distributions and other
-€53,433
Cash 2025
€58,908
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €550,791 | €517,593 | -€33,199 | -6.0% |
| Fixed assets | 21/28 | €426,036 | €393,871 | -€32,165 | -7.5% |
| Tangible fixed assets | 22/27 | €426,036 | €393,871 | -€32,165 | -7.5% |
| Land and buildings | 22 | €109,613 | €103,274 | -€6,339 | -5.8% |
| Plant, machinery and equipment | 23 | €305,080 | €286,855 | -€18,224 | -6.0% |
| Furniture and vehicles | 24 | €4,814 | €3,742 | -€1,072 | -22.3% |
| Leasing and similar rights | 25 | €6,530 | - | -€6,530 | |
| Current assets | 29/58 | €124,755 | €123,721 | -€1,033 | -0.8% |
| Stocks and contracts in progress | 3 | €14,592 | €13,646 | -€946 | -6.5% |
| Stocks | 30/36 | €14,592 | €13,646 | -€946 | -6.5% |
| Amounts receivable within one year | 40/41 | €6,657 | €7,399 | +€742 | +11.1% |
| Trade receivables | 40 | €5,061 | €1,686 | -€3,375 | -66.7% |
| Other amounts receivable | 41 | €1,597 | €5,714 | +€4,117 | +258% |
| Current investments | 50/53 | €3,439 | €28,429 | +€24,990 | +727% |
| Cash at bank and in hand | 54/58 | €86,882 | €58,908 | -€27,974 | -32.2% |
| Deferred charges and accrued income | 490/1 | €13,184 | €15,339 | +€2,155 | +16.3% |
| Total equity and liabilities | 10/49 | €550,791 | €517,593 | -€33,199 | -6.0% |
| Equity | 10/15 | €285,753 | €246,307 | -€39,445 | -13.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €267,153 | €227,707 | -€39,445 | -14.8% |
| Distributable reserves | 133 | €267,153 | €227,707 | -€39,445 | -14.8% |
| Amounts payable | 17/49 | €265,038 | €271,285 | +€6,247 | +2.4% |
| Amounts payable after more than one year | 17 | €160,699 | €128,962 | -€31,737 | -19.7% |
| Financial debts | 170/4 | €160,699 | €128,962 | -€31,737 | -19.7% |
| Amounts payable within one year | 42/48 | €98,892 | €136,735 | +€37,842 | +38.3% |
| Current portion of amounts payable after more than one year | 42 | €31,502 | €30,096 | -€1,406 | -4.5% |
| Trade debts | 44 | €12,993 | €6,451 | -€6,543 | -50.4% |
| Suppliers | 440/4 | €12,993 | €6,451 | -€6,543 | -50.4% |
| Taxes, remuneration and social security | 45 | €41,063 | €30,202 | -€10,862 | -26.5% |
| Taxes | 450/3 | €27,224 | €17,082 | -€10,142 | -37.3% |
| Remuneration and social security | 454/9 | €13,840 | €13,120 | -€719 | -5.2% |
| Other amounts payable | 47/48 | €13,333 | €69,986 | +€56,652 | +425% |
| Accrued charges and deferred income | 492/3 | €5,447 | €5,589 | +€141 | +2.6% |
| Remuneration, social security and pensions | 62 | €170,070 | €157,499 | -€12,571 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,414 | €48,083 | +€1,669 | +3.6% |
| Other operating charges | 640/8 | €34,882 | €36,077 | +€1,195 | +3.4% |
| Gross operating margin | 9900 | €330,278 | €271,821 | -€58,456 | -17.7% |
| Operating profit (loss) | 9901 | €78,911 | €30,162 | -€48,749 | -61.8% |
| Financial income | 75/76B | €452 | €31 | -€421 | -93.0% |
| Recurring financial income | 75 | €452 | €31 | -€421 | -93.0% |
| Financial charges | 65/66B | €5,055 | €6,581 | +€1,526 | +30.2% |
| Recurring financial charges | 65 | €5,055 | €6,581 | +€1,526 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | €74,309 | €23,613 | -€50,695 | -68.2% |
| Income taxes | 67/77 | €23,576 | €9,626 | -€13,950 | -59.2% |
| Profit (loss) for the period | 9904 | €50,733 | €13,987 | -€36,745 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €50,733 | €13,987 | -€36,745 | -72.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.