KANON: 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.
KANON
Largest movements
- Cash -€306,221
down €306,221 (-67.4%), from €454,215 to €147,994
mainly Contributions, distributions and other (-€1.1m) and Investment in fixed assets (net) (-€177,181)
- Stocks and contracts +€99,709
up €99,709 (+40.4%), from €247,057 to €346,766
- Tangible fixed assets +€95,221
up €95,221 (+20.9%), from €454,674 to €549,895
- Profit (loss) carried forward -€771,401
down €771,401 (-93.3%), from €827,213 to €55,813
- Other debts +€534,213
up €534,213 (+27295.9%), from €1,957 to €536,170
- Current portion of long-term debt +€134,095
up €134,095 (+920.9%), from €14,561 to €148,655
- Tax, wage and social debts -€125,879
down €125,879 (-60.5%), from €208,033 to €82,154
of which Taxes: -€130,613
- Debts after one year +€81,024
up €81,024 (+92.7%), from €87,440 to €168,464
- Gross operating margin +€172,342
up €172,342 (+20.9%), from €823,542 to €995,884
- Staff costs +€136,479
up €136,479 (+42.6%), from €320,048 to €456,527
- Depreciation +€12,127
up €12,127 (+16.3%), from €74,333 to €86,460
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 | €1,218,112 | €1,111,448 | -€106,664 | -8.8% |
| Fixed assets | 21/28 | €477,174 | €567,895 | +€90,721 | +19.0% |
| Intangible fixed assets | 21 | €22,500 | €18,000 | -€4,500 | -20.0% |
| Tangible fixed assets | 22/27 | €454,674 | €549,895 | +€95,221 | +20.9% |
| Plant, machinery and equipment | 23 | €454,674 | €549,895 | +€95,221 | +20.9% |
| Current assets | 29/58 | €740,938 | €543,553 | -€197,385 | -26.6% |
| Stocks and contracts in progress | 3 | €247,057 | €346,766 | +€99,709 | +40.4% |
| Stocks | 30/36 | €247,057 | €346,766 | +€99,709 | +40.4% |
| Amounts receivable within one year | 40/41 | €37,747 | €48,725 | +€10,978 | +29.1% |
| Trade receivables | 40 | €35,447 | €46,225 | +€10,778 | +30.4% |
| Other amounts receivable | 41 | €2,300 | €2,500 | +€200 | +8.7% |
| Cash at bank and in hand | 54/58 | €454,215 | €147,994 | -€306,221 | -67.4% |
| Deferred charges and accrued income | 490/1 | €1,919 | €68 | -€1,851 | -96.5% |
| Total equity and liabilities | 10/49 | €1,218,112 | €1,111,448 | -€106,664 | -8.8% |
| Equity | 10/15 | €829,213 | €57,813 | -€771,401 | -93.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €827,213 | €55,813 | -€771,401 | -93.3% |
| Amounts payable | 17/49 | €388,899 | €1,053,635 | +€664,737 | +170.9% |
| Amounts payable after more than one year | 17 | €87,440 | €168,464 | +€81,024 | +92.7% |
| Financial debts | 170/4 | €87,440 | €168,464 | +€81,024 | +92.7% |
| Amounts payable within one year | 42/48 | €301,459 | €885,171 | +€583,712 | +193.6% |
| Current portion of amounts payable after more than one year | 42 | €14,561 | €148,655 | +€134,095 | +920.9% |
| Financial debts | 43 | €143 | - | -€143 | |
| Credit institutions | 430/8 | €143 | - | -€143 | |
| Trade debts | 44 | €76,765 | €118,192 | +€41,427 | +54.0% |
| Suppliers | 440/4 | €76,765 | €118,192 | +€41,427 | +54.0% |
| Taxes, remuneration and social security | 45 | €208,033 | €82,154 | -€125,879 | -60.5% |
| Taxes | 450/3 | €202,161 | €71,547 | -€130,613 | -64.6% |
| Remuneration and social security | 454/9 | €5,872 | €10,607 | +€4,735 | +80.6% |
| Other amounts payable | 47/48 | €1,957 | €536,170 | +€534,213 | +27295.9% |
| Remuneration, social security and pensions | 62 | €320,048 | €456,527 | +€136,479 | +42.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,333 | €86,460 | +€12,127 | +16.3% |
| Other operating charges | 640/8 | €11,858 | €9,150 | -€2,708 | -22.8% |
| Gross operating margin | 9900 | €823,542 | €995,884 | +€172,342 | +20.9% |
| Operating profit (loss) | 9901 | €417,303 | €443,747 | +€26,443 | +6.3% |
| Financial charges | 65/66B | €19,865 | €12,937 | -€6,928 | -34.9% |
| Recurring financial charges | 65 | €19,865 | €12,937 | -€6,928 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | €397,438 | €430,809 | +€33,371 | +8.4% |
| Income taxes | 67/77 | €95,249 | €99,997 | +€4,748 | +5.0% |
| Profit (loss) for the period | 9904 | €302,189 | €330,813 | +€28,623 | +9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €302,189 | €330,813 | +€28,623 | +9.5% |
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 9 October 2026 via checked.be.