KANTORO: 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.
KANTORO
Largest movements
- Cash -€30,251
down €30,251 (-28.2%), from €107,429 to €77,177
mainly Contributions, distributions and other (-€60,000) and Tax, wage and social debts (-€26,334)
- Receivables within one year -€20,999
down €20,999 (-45.1%), from €46,581 to €25,582
of which Trade receivables: -€21,397
- Stocks and contracts -€8,359
down €8,359 (-15.2%), from €54,997 to €46,638
- Tangible fixed assets -€6,799
down €6,799 (-5.9%), from €116,072 to €109,273
of which Land and buildings: -€5,667
- Reserves -€60,000
down €60,000 (-59.8%), from €100,323 to €40,323
of which Distributable reserves: -€54,022
- Other debts +€33,595
new in 2025: €33,595
- Tax, wage and social debts -€26,334
down €26,334 (-43.2%), from €60,891 to €34,558
of which Remuneration and social security: -€14,298
- Debts after one year -€14,926
down €14,926 (-32.4%), from €46,085 to €31,159
- Gross operating margin -€25,063
down €25,063 (-12.8%), from €195,222 to €170,159
- Staff costs +€6,517
up €6,517 (+4.7%), from €139,567 to €146,083
- Taxes -€5,572
down €5,572 (-74.7%), from €7,460 to €1,888
- Financial charges +€5,277
up €5,277 (+95.3%), from €5,536 to €10,813
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 | €327,406 | €259,857 | -€67,549 | -20.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €118,399 | €110,460 | -€7,939 | -6.7% |
| Intangible fixed assets | 21 | €2,327 | €1,187 | -€1,140 | -49.0% |
| Tangible fixed assets | 22/27 | €116,072 | €109,273 | -€6,799 | -5.9% |
| Land and buildings | 22 | €114,940 | €109,273 | -€5,667 | -4.9% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,132 | - | -€1,132 | |
| Current assets | 29/58 | €209,007 | €149,397 | -€59,610 | -28.5% |
| Stocks and contracts in progress | 3 | €54,997 | €46,638 | -€8,359 | -15.2% |
| Stocks | 30/36 | €54,997 | €46,638 | -€8,359 | -15.2% |
| Amounts receivable within one year | 40/41 | €46,581 | €25,582 | -€20,999 | -45.1% |
| Trade receivables | 40 | €44,351 | €22,954 | -€21,397 | -48.2% |
| Other amounts receivable | 41 | €2,230 | €2,628 | +€398 | +17.8% |
| Cash at bank and in hand | 54/58 | €107,429 | €77,177 | -€30,251 | -28.2% |
| Total equity and liabilities | 10/49 | €327,406 | €259,857 | -€67,549 | -20.6% |
| Equity | 10/15 | €132,179 | €73,891 | -€58,288 | -44.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €100,323 | €40,323 | -€60,000 | -59.8% |
| Non-distributable reserves | 130/1 | €5,978 | - | -€5,978 | |
| Reserves not available under the articles | 1311 | €5,978 | - | -€5,978 | |
| Tax-exempt reserves | 132 | €18,017 | €18,017 | = | 0.0% |
| Distributable reserves | 133 | €76,328 | €22,306 | -€54,022 | -70.8% |
| Profit (loss) carried forward | 14 | €19,455 | €21,168 | +€1,712 | +8.8% |
| Amounts payable | 17/49 | €195,228 | €185,966 | -€9,261 | -4.7% |
| Amounts payable after more than one year | 17 | €46,085 | €31,159 | -€14,926 | -32.4% |
| Financial debts | 170/4 | €46,085 | €31,159 | -€14,926 | -32.4% |
| Amounts payable within one year | 42/48 | €149,102 | €154,808 | +€5,705 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €14,080 | €14,926 | +€846 | +6.0% |
| Trade debts | 44 | €74,131 | €71,729 | -€2,402 | -3.2% |
| Suppliers | 440/4 | €74,131 | €71,729 | -€2,402 | -3.2% |
| Taxes, remuneration and social security | 45 | €60,891 | €34,558 | -€26,334 | -43.2% |
| Taxes | 450/3 | €26,558 | €14,522 | -€12,036 | -45.3% |
| Remuneration and social security | 454/9 | €34,334 | €20,036 | -€14,298 | -41.6% |
| Other amounts payable | 47/48 | - | €33,595 | +€33,595 | |
| Accrued charges and deferred income | 492/3 | €41 | - | -€41 | |
| Non-recurring operating income | 76A | - | €9,141 | +€9,141 | |
| Remuneration, social security and pensions | 62 | €139,567 | €146,083 | +€6,517 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,712 | €6,807 | -€906 | -11.7% |
| Other operating charges | 640/8 | €2,716 | €3,143 | +€427 | +15.7% |
| Gross operating margin | 9900 | €195,222 | €170,159 | -€25,063 | -12.8% |
| Operating profit (loss) | 9901 | €45,227 | €14,126 | -€31,101 | -68.8% |
| Financial income | 75/76B | €211 | €287 | +€76 | +36.1% |
| Recurring financial income | 75 | €211 | €287 | +€76 | +36.1% |
| Financial charges | 65/66B | €5,536 | €10,813 | +€5,277 | +95.3% |
| Recurring financial charges | 65 | €5,536 | €10,813 | +€5,277 | +95.3% |
| Profit (loss) for the period before taxes | 9903 | €39,902 | €3,600 | -€36,302 | -91.0% |
| Income taxes | 67/77 | €7,460 | €1,888 | -€5,572 | -74.7% |
| Profit (loss) for the period | 9904 | €32,443 | €1,712 | -€30,730 | -94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,443 | €1,712 | -€30,730 | -94.7% |
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 8 October 2026 via checked.be.