KANBAN: 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.
KANBAN
Largest movements
- Current investments +€2.0m
new in 2025: €2.0m
- Tangible fixed assets -€424,351
down €424,351 (-20.8%), from €2.0m to €1.6m
- Receivables within one year -€193,173
down €193,173 (-76.8%), from €251,616 to €58,443
of which Other amounts receivable: -€98,153
- Cash -€139,719
down €139,719 (-75.6%), from €184,787 to €45,068
mainly Current investments (-€2.0m) and Current portion of long-term debt (-€338,011)
- Debts after one year +€733,511
up €733,511 (+80.0%), from €916,626 to €1.7m
of which Other amounts payable: +€800,641
- Reserves +€689,680
up €689,680 (+389.0%), from €177,294 to €866,975
of which Distributable reserves: +€455,623
- Current portion of long-term debt -€338,011
down €338,011 (-83.4%), from €405,141 to €67,130
- Profit (loss) carried forward +€106,700
up €106,700, from -€106,700 to €0
- Provisions +€78,019
up €78,019 (+540.9%), from €14,425 to €92,444
- Gross operating margin +€1.3m
up €1.3m (+892.5%), from €144,794 to €1.4m
- Taxes +€148,951
up €148,951, from €0 to €148,951
- Other operating charges +€75,104
up €75,104 (+349.1%), from €21,515 to €96,619
- Depreciation +€67,927
up €67,927 (+39.3%), from €173,027 to €240,954
- Financial charges -€40,740
down €40,740 (-51.7%), from €78,874 to €38,134
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 | €2,644,008 | €3,847,989 | +€1.2m | +45.5% |
| Fixed assets | 21/28 | €2,055,174 | €1,630,156 | -€425,018 | -20.7% |
| Intangible fixed assets | 21 | €1,333 | €667 | -€667 | -50.0% |
| Tangible fixed assets | 22/27 | €2,043,841 | €1,619,489 | -€424,351 | -20.8% |
| Land and buildings | 22 | €1,695,451 | €1,500,319 | -€195,132 | -11.5% |
| Plant, machinery and equipment | 23 | €296,592 | €103,052 | -€193,540 | -65.3% |
| Furniture and vehicles | 24 | €51,798 | €16,118 | -€35,680 | -68.9% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €588,834 | €2,217,834 | +€1.6m | +276.6% |
| Stocks and contracts in progress | 3 | €152,431 | €114,323 | -€38,108 | -25.0% |
| Stocks | 30/36 | €152,431 | €114,323 | -€38,108 | -25.0% |
| Amounts receivable within one year | 40/41 | €251,616 | €58,443 | -€193,173 | -76.8% |
| Trade receivables | 40 | €102,239 | €7,219 | -€95,020 | -92.9% |
| Other amounts receivable | 41 | €149,377 | €51,224 | -€98,153 | -65.7% |
| Current investments | 50/53 | - | €2,000,000 | +€2.0m | |
| Cash at bank and in hand | 54/58 | €184,787 | €45,068 | -€139,719 | -75.6% |
| Total equity and liabilities | 10/49 | €2,644,008 | €3,847,989 | +€1.2m | +45.5% |
| Equity | 10/15 | €1,061,303 | €1,857,684 | +€796,381 | +75.0% |
| Contributions | 10/11 | €990,710 | €990,710 | = | 0.0% |
| Reserves | 13 | €177,294 | €866,975 | +€689,680 | +389.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €43,275 | €277,333 | +€234,058 | +540.9% |
| Distributable reserves | 133 | €134,019 | €589,642 | +€455,623 | +340.0% |
| Profit (loss) carried forward | 14 | -€106,700 | €0 | +€106,700 | |
| Provisions and deferred taxes | 16 | €14,425 | €92,444 | +€78,019 | +540.9% |
| Deferred taxes | 168 | €14,425 | €92,444 | +€78,019 | +540.9% |
| Amounts payable | 17/49 | €1,568,279 | €1,897,861 | +€329,582 | +21.0% |
| Amounts payable after more than one year | 17 | €916,626 | €1,650,138 | +€733,511 | +80.0% |
| Financial debts | 170/4 | €72,897 | €5,768 | -€67,130 | -92.1% |
| Other amounts payable | 178/9 | €843,729 | €1,644,370 | +€800,641 | +94.9% |
| Amounts payable within one year | 42/48 | €592,922 | €245,334 | -€347,588 | -58.6% |
| Current portion of amounts payable after more than one year | 42 | €405,141 | €67,130 | -€338,011 | -83.4% |
| Trade debts | 44 | €183,214 | €139,380 | -€43,834 | -23.9% |
| Suppliers | 440/4 | €183,214 | €139,380 | -€43,834 | -23.9% |
| Taxes, remuneration and social security | 45 | €4,567 | €38,824 | +€34,257 | +750.1% |
| Taxes | 450/3 | €4,567 | €38,824 | +€34,257 | +750.1% |
| Accrued charges and deferred income | 492/3 | €58,731 | €2,390 | -€56,341 | -95.9% |
| Non-recurring operating income | 76A | €0 | €1,737,276 | +€1.7m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173,027 | €240,954 | +€67,927 | +39.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €38,108 | +€38,108 | |
| Other operating charges | 640/8 | €21,515 | €96,619 | +€75,104 | +349.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €144,794 | €1,437,141 | +€1.3m | +892.5% |
| Operating profit (loss) | 9901 | -€49,748 | €1,061,461 | +€1.1m | |
| Financial income | 75/76B | €0 | €24 | +€24 | +239900.0% |
| Recurring financial income | 75 | €0 | €24 | +€24 | +239900.0% |
| Financial charges | 65/66B | €78,874 | €38,134 | -€40,740 | -51.7% |
| Recurring financial charges | 65 | €78,874 | €38,134 | -€40,740 | -51.7% |
| Profit (loss) for the period before taxes | 9903 | -€128,622 | €1,023,351 | +€1.2m | |
| Transfer from deferred taxes | 780 | €1,443 | €14,425 | +€12,983 | +900.0% |
| Transfer to deferred taxes | 680 | - | €92,444 | +€92,444 | |
| Income taxes | 67/77 | €0 | €148,951 | +€148,951 | |
| Profit (loss) for the period | 9904 | -€127,179 | €796,381 | +€923,560 | |
| Transfer from tax-exempt reserves | 789 | €4,328 | €43,275 | +€38,948 | +900.0% |
| Transfer to tax-exempt reserves | 689 | - | €277,333 | +€277,333 | |
| Profit (loss) for the period to be appropriated | 9905 | -€122,852 | €562,323 | +€685,174 |
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.