KANEL: 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.
KANEL
Largest movements
- Cash -€22,032
down €22,032 (-42.9%), from €51,398 to €29,366
mainly Net result for the year (-€48,373) and Tax, wage and social debts (-€4,001)
- Tangible fixed assets -€6,853
down €6,853 (-30.8%), from €22,265 to €15,412
of which Plant, machinery and equipment: -€4,442
- Intangible fixed assets -€4,306
down €4,306 (-21.8%), from €19,735 to €15,429
- Receivables within one year -€3,166
no longer reported in 2025 (was €3,166)
- Profit (loss) carried forward -€48,373
down €48,373, from €42,762 to -€5,611
- Trade debts +€17,449
up €17,449 (+128.8%), from €13,552 to €31,001
- Tax, wage and social debts -€4,001
down €4,001 (-13.4%), from €29,960 to €25,959
of which Remuneration and social security: -€3,740
- Other debts -€1,976
down €1,976 (-83.7%), from €2,360 to €384
- Gross operating margin -€26,075
down €26,075 (-17.8%), from €146,270 to €120,195
- Staff costs +€10,242
up €10,242 (+7.5%), from €136,063 to €146,305
- Other operating charges +€2,898
up €2,898 (+126.1%), from €2,298 to €5,196
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 | €98,634 | €61,733 | -€36,901 | -37.4% |
| Fixed assets | 21/28 | €42,000 | €30,841 | -€11,159 | -26.6% |
| Intangible fixed assets | 21 | €19,735 | €15,429 | -€4,306 | -21.8% |
| Tangible fixed assets | 22/27 | €22,265 | €15,412 | -€6,853 | -30.8% |
| Plant, machinery and equipment | 23 | €10,127 | €5,685 | -€4,442 | -43.9% |
| Furniture and vehicles | 24 | €128 | - | -€128 | |
| Other tangible fixed assets | 26 | €12,011 | €9,727 | -€2,284 | -19.0% |
| Current assets | 29/58 | €56,634 | €30,892 | -€25,742 | -45.5% |
| Stocks and contracts in progress | 3 | €2,070 | €1,526 | -€544 | -26.3% |
| Stocks | 30/36 | €2,070 | €1,526 | -€544 | -26.3% |
| Amounts receivable within one year | 40/41 | €3,166 | - | -€3,166 | |
| Trade receivables | 40 | €3,166 | - | -€3,166 | |
| Cash at bank and in hand | 54/58 | €51,398 | €29,366 | -€22,032 | -42.9% |
| Total equity and liabilities | 10/49 | €98,634 | €61,733 | -€36,901 | -37.4% |
| Equity | 10/15 | €52,762 | €4,389 | -€48,373 | -91.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,762 | -€5,611 | -€48,373 | |
| Amounts payable | 17/49 | €45,872 | €57,344 | +€11,472 | +25.0% |
| Amounts payable within one year | 42/48 | €45,872 | €57,344 | +€11,472 | +25.0% |
| Trade debts | 44 | €13,552 | €31,001 | +€17,449 | +128.8% |
| Suppliers | 440/4 | €13,552 | €31,001 | +€17,449 | +128.8% |
| Taxes, remuneration and social security | 45 | €29,960 | €25,959 | -€4,001 | -13.4% |
| Taxes | 450/3 | €5,114 | €4,853 | -€261 | -5.1% |
| Remuneration and social security | 454/9 | €24,845 | €21,106 | -€3,740 | -15.1% |
| Other amounts payable | 47/48 | €2,360 | €384 | -€1,976 | -83.7% |
| Remuneration, social security and pensions | 62 | €136,063 | €146,305 | +€10,242 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,330 | €11,159 | -€171 | -1.5% |
| Other operating charges | 640/8 | €2,298 | €5,196 | +€2,898 | +126.1% |
| Gross operating margin | 9900 | €146,270 | €120,195 | -€26,075 | -17.8% |
| Operating profit (loss) | 9901 | -€3,420 | -€42,465 | -€39,045 | -1141.6% |
| Financial income | 75/76B | €557 | €26 | -€531 | -95.4% |
| Recurring financial income | 75 | €557 | €26 | -€531 | -95.4% |
| Financial charges | 65/66B | €5,639 | €5,934 | +€295 | +5.2% |
| Recurring financial charges | 65 | €5,639 | €5,934 | +€295 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,502 | -€48,373 | -€39,871 | -469.0% |
| Profit (loss) for the period | 9904 | -€8,502 | -€48,373 | -€39,871 | -469.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,502 | -€48,373 | -€39,871 | -469.0% |
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 11 October 2026 via checked.be.