KAP Group: 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.
KAP Group
Largest movements
- Stocks and contracts +€6,800
up €6,800 (+336.5%), from €2,021 to €8,820
- Intangible fixed assets -€5,000
down €5,000 (-11.1%), from €45,000 to €40,000
- Cash +€4,962
up €4,962 (+51.2%), from €9,686 to €14,648
mainly Debts after one year (+€51,576) and Trade debts (+€18,683)
- Deferred charges and accrued income +€4,348
up €4,348 (+6138.0%), from €71 to €4,419
- Receivables within one year -€2,027
no longer reported in 2025 (was €2,027)
- Other debts -€69,265
no longer reported in 2025 (was €69,265)
- Debts after one year +€51,576
new in 2025: €51,576
- Trade debts +€18,683
up €18,683 (+294.7%), from €6,340 to €25,024
- Tax, wage and social debts +€6,566
up €6,566 (+2568.5%), from €256 to €6,822
of which Taxes: +€6,566
- Profit (loss) carried forward +€1,522
up €1,522 (+5.8%), from -€26,456 to -€24,934
- Gross operating margin +€23,472
up €23,472, from -€16,564 to €6,908
- Staff costs -€3,654
no longer reported in 2025 (was €3,654)
- Other operating charges -€891
down €891 (-74.8%), from €1,191 to €300
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 | €58,804 | €67,887 | +€9,083 | +15.4% |
| Fixed assets | 21/28 | €45,000 | €40,000 | -€5,000 | -11.1% |
| Intangible fixed assets | 21 | €45,000 | €40,000 | -€5,000 | -11.1% |
| Current assets | 29/58 | €13,804 | €27,887 | +€14,083 | +102.0% |
| Stocks and contracts in progress | 3 | €2,021 | €8,820 | +€6,800 | +336.5% |
| Stocks | 30/36 | €2,021 | €8,820 | +€6,800 | +336.5% |
| Amounts receivable within one year | 40/41 | €2,027 | - | -€2,027 | |
| Trade receivables | 40 | €2,027 | - | -€2,027 | |
| Cash at bank and in hand | 54/58 | €9,686 | €14,648 | +€4,962 | +51.2% |
| Deferred charges and accrued income | 490/1 | €71 | €4,419 | +€4,348 | +6138.0% |
| Total equity and liabilities | 10/49 | €58,804 | €67,887 | +€9,083 | +15.4% |
| Equity | 10/15 | -€22,456 | -€20,934 | +€1,522 | +6.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,456 | -€24,934 | +€1,522 | +5.8% |
| Amounts payable | 17/49 | €81,261 | €88,821 | +€7,561 | +9.3% |
| Amounts payable after more than one year | 17 | - | €51,576 | +€51,576 | |
| Financial debts | 170/4 | - | €51,576 | +€51,576 | |
| Amounts payable within one year | 42/48 | €81,261 | €37,246 | -€44,015 | -54.2% |
| Current portion of amounts payable after more than one year | 42 | €5,400 | €5,400 | = | 0.0% |
| Trade debts | 44 | €6,340 | €25,024 | +€18,683 | +294.7% |
| Suppliers | 440/4 | €6,340 | €25,024 | +€18,683 | +294.7% |
| Taxes, remuneration and social security | 45 | €256 | €6,822 | +€6,566 | +2568.5% |
| Taxes | 450/3 | €178 | €6,744 | +€6,566 | +3690.2% |
| Remuneration and social security | 454/9 | €78 | €78 | = | 0.0% |
| Other amounts payable | 47/48 | €69,265 | - | -€69,265 | |
| Remuneration, social security and pensions | 62 | €3,654 | - | -€3,654 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,000 | €5,000 | = | 0.0% |
| Other operating charges | 640/8 | €1,191 | €300 | -€891 | -74.8% |
| Gross operating margin | 9900 | -€16,564 | €6,908 | +€23,472 | |
| Operating profit (loss) | 9901 | -€26,408 | €1,608 | +€28,016 | |
| Financial charges | 65/66B | €49 | €86 | +€38 | +77.5% |
| Recurring financial charges | 65 | €49 | €86 | +€38 | +77.5% |
| Profit (loss) for the period before taxes | 9903 | -€26,456 | €1,522 | +€27,979 | |
| Profit (loss) for the period | 9904 | -€26,456 | €1,522 | +€27,979 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,456 | €1,522 | +€27,979 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.