KAP EVOLUTION: 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.
KAP EVOLUTION
Largest movements
- Cash +€64,884
up €64,884 (+382%), from €16,998 to €81,882
mainly Receivables within one year (+€49,614) and Tax, wage and social debts (+€9,703)
- Receivables within one year -€49,614
down €49,614 (-21.1%), from €235,643 to €186,029
of which Trade receivables: -€47,548
- Tangible fixed assets -€5,979
down €5,979 (-62.1%), from €9,631 to €3,652
- Tax, wage and social debts +€9,703
up €9,703 (+40.6%), from €23,883 to €33,586
of which Taxes: +€5,670
- Current portion of long-term debt -€4,574
no longer reported in 2025 (was €4,574)
- Trade debts +€3,089
up €3,089 (+29.9%), from €10,344 to €13,433
- Staff costs -€36,126
down €36,126 (-17.5%), from €206,295 to €170,169
- Gross operating margin -€34,394
down €34,394 (-16.0%), from €215,532 to €181,138
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.
Derived cash bridge
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 | €267,209 | €275,720 | +€8,511 | +3.2% |
| Fixed assets | 21/28 | €10,178 | €4,199 | -€5,979 | -58.7% |
| Tangible fixed assets | 22/27 | €9,631 | €3,652 | -€5,979 | -62.1% |
| Furniture and vehicles | 24 | €9,631 | €3,652 | -€5,979 | -62.1% |
| Financial fixed assets | 28 | €547 | €547 | = | 0.0% |
| Current assets | 29/58 | €257,030 | €271,520 | +€14,490 | +5.6% |
| Amounts receivable within one year | 40/41 | €235,643 | €186,029 | -€49,614 | -21.1% |
| Trade receivables | 40 | €220,046 | €172,498 | -€47,548 | -21.6% |
| Other amounts receivable | 41 | €15,597 | €13,531 | -€2,066 | -13.2% |
| Cash at bank and in hand | 54/58 | €16,998 | €81,882 | +€64,884 | +382% |
| Deferred charges and accrued income | 490/1 | €4,390 | €3,610 | -€780 | -17.8% |
| Total equity and liabilities | 10/49 | €267,209 | €275,720 | +€8,511 | +3.2% |
| Equity | 10/15 | €228,407 | €228,701 | +€293 | +0.1% |
| Contributions | 10/11 | €138,592 | €138,592 | = | 0.0% |
| Reserves | 13 | €49,755 | €49,755 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,755 | €2,755 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,755 | €2,755 | = | 0.0% |
| Distributable reserves | 133 | €47,000 | €47,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,060 | €40,353 | +€293 | +0.7% |
| Amounts payable | 17/49 | €38,801 | €47,019 | +€8,218 | +21.2% |
| Amounts payable within one year | 42/48 | €38,801 | €47,019 | +€8,218 | +21.2% |
| Current portion of amounts payable after more than one year | 42 | €4,574 | - | -€4,574 | |
| Trade debts | 44 | €10,344 | €13,433 | +€3,089 | +29.9% |
| Suppliers | 440/4 | €10,344 | €13,433 | +€3,089 | +29.9% |
| Taxes, remuneration and social security | 45 | €23,883 | €33,586 | +€9,703 | +40.6% |
| Taxes | 450/3 | €6,527 | €12,197 | +€5,670 | +86.9% |
| Remuneration and social security | 454/9 | €17,356 | €21,390 | +€4,033 | +23.2% |
| Remuneration, social security and pensions | 62 | €206,295 | €170,169 | -€36,126 | -17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,708 | €5,979 | +€271 | +4.7% |
| Other operating charges | 640/8 | €387 | €1,656 | +€1,269 | +327% |
| Non-recurring operating charges | 66A | €2,311 | - | -€2,311 | |
| Gross operating margin | 9900 | €215,532 | €181,138 | -€34,394 | -16.0% |
| Operating profit (loss) | 9901 | €830 | €3,334 | +€2,504 | +302% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €92 | €63 | -€29 | -31.8% |
| Recurring financial charges | 65 | €92 | €63 | -€29 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €738 | €3,272 | +€2,534 | +343% |
| Income taxes | 67/77 | €2,370 | €2,978 | +€608 | +25.7% |
| Profit (loss) for the period | 9904 | -€1,632 | €293 | +€1,926 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,632 | €293 | +€1,926 |
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 24 October 2026 via checked.be.