KANAL: 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.
What changed
KANAL
NACE 91.210, Libraries, archives, museums and other cultural activities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.5m
2024 · €2.3m+€1.2m
Equity
€170.2m
2024 · €156.6m+€13.6m
Cash
€3.3m
2024 · €3.4m-€115,701
Balance sheet total
€192.1m
2024 · €175.1m+€17.1m
Largest movements
Assets
- Tangible fixed assets +€64.9m
up €64.9m (+61.7%), from €105.1m to €170.0m
of which Assets under construction and advance payments: +€63.4m
- Current investments -€61.5m
no longer reported in 2025 (was €61.5m)
- Receivables within one year +€13.3m
up €13.3m (+7541.4%), from €176,635 to €13.5m
of which Other amounts receivable: +€13.4m
Equity and liabilities
- Investment grants +€10.1m
up €10.1m (+6.7%), from €151.3m to €161.4m
- Debts within one year +€7.6m
up €7.6m (+58.5%), from €13.1m to €20.7m
of which Trade debts: +€8.3m
- Accrued charges and deferred income -€3.3m
down €3.3m (-73.5%), from €4.5m to €1.2m
- Reserves +€3.2m
up €3.2m (+116.8%), from €2.7m to €5.8m
Income statement
- Services and other goods +€2.1m
up €2.1m (+34.3%), from €6.2m to €8.4m
- Financial income -€1.9m
down €1.9m (-82.8%), from €2.2m to €385,417
- Staff costs +€1.2m
up €1.2m (+18.1%), from €6.5m to €7.6m
- Taxes -€564,214
down €564,214 (-83.9%), from €672,293 to €108,078
- Other operating charges +€352,655
up €352,655 (+53.0%), from €666,001 to €1.0m
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.
Result 2024
€2.3m
Turnover
-€160,885
Other operating income
+€22,437
Goods and materials
+€797
Services and other goods
-€2.1m
Staff costs
-€1.2m
Depreciation
-€145,707
Write-downs
-€7,202
Other operating charges
-€352,655
Other operating items
+€6.5m
Financial income
-€1.9m
Financial charges
+€656
Taxes
+€564,214
Result 2025
€3.5m
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.
From operations
-€4.3m
Investment
-€5.1m
Financing
+€9.2m
Cash 2024
€3.4m
From operations (derived)
-€4.3m
Net result for the year
+€3.5m
Depreciation
+€364,045
Stocks and contracts
+€110,722
Receivables within one year
-€13.3m
Deferred charges and accrued income
+€733,531
Debts within one year
+€7.6m
Accrued charges and deferred income
-€3.3m
Investment (derived)
-€5.1m
Investment in fixed assets (net)
-€66.6m
Current investments
+€61.5m
Financing
+€9.2m
Debts after one year
-€856,675
Contributions, distributions and other
+€10.1m
Cash 2025
€3.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €175,083,917 | €192,136,941 | +€17.1m | +9.7% |
| Fixed assets | 21/28 | €107,729,783 | €173,940,097 | +€66.2m | +61.5% |
| Intangible fixed assets | 21 | €576,562 | €741,902 | +€165,340 | +28.7% |
| Tangible fixed assets | 22/27 | €105,149,906 | €170,034,302 | +€64.9m | +61.7% |
| Plant, machinery and equipment | 23 | €120,369 | €81,705 | -€38,663 | -32.1% |
| Furniture and vehicles | 24 | €45,567 | €73,111 | +€27,544 | +60.4% |
| Leasing and similar rights | 25 | €14,251 | €9,248 | -€5,003 | -35.1% |
| Other tangible fixed assets | 26 | €3,980,739 | €5,442,929 | +€1.5m | +36.7% |
| Assets under construction and advance payments | 27 | €100,988,980 | €164,427,308 | +€63.4m | +62.8% |
| Financial fixed assets | 28 | €2,003,315 | €3,163,893 | +€1.2m | +57.9% |
| Affiliated companies | 280/1 | €2,000,000 | €3,150,000 | +€1.2m | +57.5% |
| Participating interests | 280 | €2,000,000 | €3,150,000 | +€1.2m | +57.5% |
| Other financial fixed assets | 284/8 | €3,315 | €13,893 | +€10,578 | +319.1% |
| Shares | 284 | €10 | €10 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,305 | €13,883 | +€10,578 | +320.1% |
| Current assets | 29/58 | €67,354,135 | €18,196,844 | -€49.2m | -73.0% |
| Stocks and contracts in progress | 3 | €115,875 | €5,152 | -€110,722 | -95.6% |
| Stocks | 30/36 | €115,875 | €5,152 | -€110,722 | -95.6% |
| Goods purchased for resale | 34 | €115,875 | €5,152 | -€110,722 | -95.6% |
| Amounts receivable within one year | 40/41 | €176,635 | €13,497,398 | +€13.3m | +7541.4% |
| Trade receivables | 40 | €57,880 | €25,828 | -€32,052 | -55.4% |
| Other amounts receivable | 41 | €118,754 | €13,471,570 | +€13.4m | +11244.1% |
| Current investments | 50/53 | €61,518,099 | - | -€61.5m | |
| Cash at bank and in hand | 54/58 | €3,446,212 | €3,330,511 | -€115,701 | -3.4% |
| Deferred charges and accrued income | 490/1 | €2,097,313 | €1,363,783 | -€733,531 | -35.0% |
| Total equity and liabilities | 10/49 | €175,083,917 | €192,136,941 | +€17.1m | +9.7% |
| Equity | 10/15 | €156,637,923 | €170,220,023 | +€13.6m | +8.7% |
| Contributions | 10/11 | €2,649,999 | €3,021,074 | +€371,075 | +14.0% |
| Capital | 10 | €2,649,999 | €3,021,074 | +€371,075 | +14.0% |
| Reserves | 13 | €2,696,642 | €5,846,642 | +€3.2m | +116.8% |
| Investment grants | 15 | €151,291,282 | €161,352,308 | +€10.1m | +6.7% |
| Amounts payable | 17/49 | €18,445,995 | €21,916,918 | +€3.5m | +18.8% |
| Amounts payable after more than one year | 17 | €860,650 | €3,975 | -€856,675 | -99.5% |
| Financial debts | 170/4 | €9,198 | €3,975 | -€5,223 | -56.8% |
| Leasing and similar obligations | 172 | €9,198 | €3,975 | -€5,223 | -56.8% |
| Trade debts | 175 | €851,452 | - | -€851,452 | |
| Suppliers | 1750 | €851,452 | - | -€851,452 | |
| Amounts payable within one year | 42/48 | €13,071,628 | €20,718,815 | +€7.6m | +58.5% |
| Current portion of amounts payable after more than one year | 42 | €5,053 | €5,223 | +€170 | +3.4% |
| Trade debts | 44 | €11,596,545 | €19,936,737 | +€8.3m | +71.9% |
| Suppliers | 440/4 | €11,596,545 | €19,936,737 | +€8.3m | +71.9% |
| Taxes, remuneration and social security | 45 | €970,030 | €776,855 | -€193,175 | -19.9% |
| Taxes | 450/3 | €306,158 | €228 | -€305,930 | -99.9% |
| Remuneration and social security | 454/9 | €663,872 | €776,627 | +€112,755 | +17.0% |
| Accrued charges and deferred income | 492/3 | €4,513,717 | €1,194,129 | -€3.3m | -73.5% |
| Operating income | 70/76A | €14,343,866 | €20,777,337 | +€6.4m | +44.9% |
| Turnover | 70 | €216,778 | €55,892 | -€160,885 | -74.2% |
| Membership fees, donations, legacies and grants | 73 | €13,480,900 | €20,590,370 | +€7.1m | +52.7% |
| Other operating income | 74 | €88,366 | €110,803 | +€22,437 | +25.4% |
| Non-recurring operating income | 76A | €557,822 | €20,272 | -€537,550 | -96.4% |
| Operating charges | 60/66A | €13,583,747 | €17,515,588 | +€3.9m | +28.9% |
| Goods for resale, raw materials and consumables | 60 | €8,391 | €7,594 | -€797 | -9.5% |
| Purchases | 600/8 | €32,150 | €8,278 | -€23,871 | -74.3% |
| Change in stocks: decrease (increase) | 609 | -€23,759 | -€685 | +€23,075 | +97.1% |
| Services and other goods | 61 | €6,246,074 | €8,387,760 | +€2.1m | +34.3% |
| Remuneration, social security and pensions | 62 | €6,450,078 | €7,619,307 | +€1.2m | +18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €218,338 | €364,045 | +€145,707 | +66.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,202 | - | +€7,202 | |
| Other operating charges | 640/8 | €666,001 | €1,018,656 | +€352,655 | +53.0% |
| Non-recurring operating charges | 66A | €2,068 | €118,227 | +€116,159 | +5616.8% |
| Operating profit (loss) | 9901 | €760,119 | €3,261,750 | +€2.5m | +329.1% |
| Financial income | 75/76B | €2,241,299 | €385,417 | -€1.9m | -82.8% |
| Recurring financial income | 75 | €2,241,299 | €385,417 | -€1.9m | -82.8% |
| Income from financial fixed assets | 750 | - | €94 | +€94 | |
| Income from current assets | 751 | €2,241,144 | €360,398 | -€1.9m | -83.9% |
| Other financial income | 752/9 | €155 | €24,926 | +€24,770 | +15961.4% |
| Financial charges | 65/66B | €18,670 | €18,013 | -€656 | -3.5% |
| Recurring financial charges | 65 | €18,670 | €18,013 | -€656 | -3.5% |
| Debt charges | 650 | €1,938 | €1,991 | +€52 | +2.7% |
| Other financial charges | 652/9 | €16,731 | €16,022 | -€709 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €2,982,748 | €3,629,153 | +€646,405 | +21.7% |
| Income taxes | 67/77 | €672,293 | €108,078 | -€564,214 | -83.9% |
| Taxes | 670/3 | €672,293 | €108,078 | -€564,214 | -83.9% |
| Profit (loss) for the period | 9904 | €2,310,455 | €3,521,075 | +€1.2m | +52.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,310,455 | €3,521,075 | +€1.2m | +52.4% |
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 10 October 2026 via checked.be.