KANALI: 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.
KANALI
Largest movements
- Receivables within one year +€87,192
up €87,192 (+74.1%), from €117,735 to €204,926
of which Other amounts receivable: +€52,046
- Tangible fixed assets +€26,973
up €26,973 (+48926.0%), from €55 to €27,028
of which Leasing and similar rights: +€26,973
- Receivables after one year -€25,000
no longer reported in 2025 (was €25,000)
- Cash -€4,808
down €4,808 (-25.0%), from €19,261 to €14,453
mainly Receivables within one year (-€87,192) and Investment in fixed assets (net) (-€33,261)
- Reserves +€58,133
up €58,133 (+56.3%), from €103,250 to €161,382
- Debts after one year +€22,103
new in 2025: €22,103
- Tax, wage and social debts -€21,248
down €21,248 (-59.0%), from €35,995 to €14,748
- Trade debts +€17,738
up €17,738 (+745.4%), from €2,380 to €20,118
- Current portion of long-term debt +€5,987
new in 2025: €5,987
- Gross operating margin +€9,259
up €9,259 (+10.2%), from €90,555 to €99,814
- Depreciation +€5,875
up €5,875 (+1422.4%), from €413 to €6,288
- Financial charges +€3,681
up €3,681 (+409.2%), from €900 to €4,581
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 | €165,301 | €248,081 | +€82,779 | +50.1% |
| Fixed assets | 21/28 | €55 | €27,028 | +€26,973 | +48926.0% |
| Tangible fixed assets | 22/27 | €55 | €27,028 | +€26,973 | +48926.0% |
| Furniture and vehicles | 24 | €55 | €55 | = | 0.0% |
| Leasing and similar rights | 25 | - | €26,973 | +€26,973 | |
| Current assets | 29/58 | €165,246 | €221,052 | +€55,806 | +33.8% |
| Amounts receivable after more than one year | 29 | €25,000 | - | -€25,000 | |
| Other amounts receivable | 291 | €25,000 | - | -€25,000 | |
| Amounts receivable within one year | 40/41 | €117,735 | €204,926 | +€87,192 | +74.1% |
| Trade receivables | 40 | €69,504 | €104,650 | +€35,145 | +50.6% |
| Other amounts receivable | 41 | €48,230 | €100,277 | +€52,046 | +107.9% |
| Cash at bank and in hand | 54/58 | €19,261 | €14,453 | -€4,808 | -25.0% |
| Deferred charges and accrued income | 490/1 | €3,251 | €1,674 | -€1,577 | -48.5% |
| Total equity and liabilities | 10/49 | €165,301 | €248,081 | +€82,779 | +50.1% |
| Equity | 10/15 | €121,850 | €179,982 | +€58,133 | +47.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €103,250 | €161,382 | +€58,133 | +56.3% |
| Distributable reserves | 133 | €103,250 | €161,382 | +€58,133 | +56.3% |
| Amounts payable | 17/49 | €43,452 | €68,098 | +€24,647 | +56.7% |
| Amounts payable after more than one year | 17 | - | €22,103 | +€22,103 | |
| Financial debts | 170/4 | - | €22,103 | +€22,103 | |
| Amounts payable within one year | 42/48 | €38,375 | €40,852 | +€2,477 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | - | €5,987 | +€5,987 | |
| Trade debts | 44 | €2,380 | €20,118 | +€17,738 | +745.4% |
| Suppliers | 440/4 | €2,380 | €20,118 | +€17,738 | +745.4% |
| Taxes, remuneration and social security | 45 | €35,995 | €14,748 | -€21,248 | -59.0% |
| Taxes | 450/3 | €35,995 | €14,748 | -€21,248 | -59.0% |
| Accrued charges and deferred income | 492/3 | €5,076 | €5,143 | +€67 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €413 | €6,288 | +€5,875 | +1422.4% |
| Other operating charges | 640/8 | €1,964 | €2,247 | +€282 | +14.4% |
| Gross operating margin | 9900 | €90,555 | €99,814 | +€9,259 | +10.2% |
| Operating profit (loss) | 9901 | €88,178 | €91,280 | +€3,102 | +3.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €900 | €4,581 | +€3,681 | +409.2% |
| Recurring financial charges | 65 | €900 | €4,581 | +€3,681 | +409.2% |
| Profit (loss) for the period before taxes | 9903 | €87,278 | €86,700 | -€578 | -0.7% |
| Income taxes | 67/77 | €29,252 | €28,567 | -€685 | -2.3% |
| Profit (loss) for the period | 9904 | €58,026 | €58,133 | +€106 | +0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,026 | €58,133 | +€106 | +0.2% |
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 4 October 2026 via checked.be.