Kap.Kaai: what changed
Kap.Kaai
Largest movements
- Stocks and contracts -€4,938
down €4,938 (-32.8%), from €15,042 to €10,105
- Cash -€4,242
down €4,242 (-16.2%), from €26,148 to €21,906
mainly Contributions, distributions and other (-€8,840) and Net result for the year (-€2,587)
- Tangible fixed assets -€2,720
down €2,720 (-20.1%), from €13,559 to €10,839
of which Land and buildings: -€2,643
- Receivables within one year +€624
up €624 (+145%), from €431 to €1,055
of which Trade receivables: +€460
- Reserves -€8,840
down €8,840 (-36.7%), from €24,088 to €15,248
of which Distributable reserves: -€8,840
- Profit (loss) carried forward -€2,587
down €2,587, from €0 to -€2,587
- Trade debts +€724
up €724 (+78.0%), from €929 to €1,653
- Gross operating margin -€9,928
down €9,928 (-89.8%), from €11,055 to €1,127
- Other operating charges -€363
down €363 (-25.4%), from €1,428 to €1,065
- Depreciation -€332
down €332 (-10.9%), from €3,052 to €2,720
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €55,180 | €43,909 | -€11,271 | -20.4% |
| Fixed assets | 21/28 | €13,559 | €10,839 | -€2,720 | -20.1% |
| Tangible fixed assets | 22/27 | €13,559 | €10,839 | -€2,720 | -20.1% |
| Land and buildings | 22 | €13,482 | €10,839 | -€2,643 | -19.6% |
| Plant, machinery and equipment | 23 | €77 | €0 | -€77 | -100% |
| Current assets | 29/58 | €41,621 | €33,070 | -€8,551 | -20.5% |
| Stocks and contracts in progress | 3 | €15,042 | €10,105 | -€4,938 | -32.8% |
| Stocks | 30/36 | €15,042 | €10,105 | -€4,938 | -32.8% |
| Amounts receivable within one year | 40/41 | €431 | €1,055 | +€624 | +145% |
| Trade receivables | 40 | €245 | €705 | +€460 | +188% |
| Other amounts receivable | 41 | €186 | €350 | +€163 | +87.7% |
| Cash at bank and in hand | 54/58 | €26,148 | €21,906 | -€4,242 | -16.2% |
| Deferred charges and accrued income | 490/1 | - | €5 | +€5 | |
| Total equity and liabilities | 10/49 | €55,180 | €43,909 | -€11,271 | -20.4% |
| Equity | 10/15 | €42,688 | €31,261 | -€11,427 | -26.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,088 | €15,248 | -€8,840 | -36.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €22,228 | €13,388 | -€8,840 | -39.8% |
| Profit (loss) carried forward | 14 | €0 | -€2,587 | -€2,587 | |
| Amounts payable | 17/49 | €12,492 | €12,648 | +€156 | +1.2% |
| Amounts payable within one year | 42/48 | €12,492 | €12,648 | +€156 | +1.2% |
| Trade debts | 44 | €929 | €1,653 | +€724 | +78.0% |
| Suppliers | 440/4 | €929 | €1,653 | +€724 | +78.0% |
| Advances received on contracts in progress | 46 | €107 | €107 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,858 | €4,532 | -€326 | -6.7% |
| Taxes | 450/3 | €4,858 | €4,532 | -€326 | -6.7% |
| Other amounts payable | 47/48 | €6,599 | €6,357 | -€242 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,052 | €2,720 | -€332 | -10.9% |
| Other operating charges | 640/8 | €1,428 | €1,065 | -€363 | -25.4% |
| Gross operating margin | 9900 | €11,055 | €1,127 | -€9,928 | -89.8% |
| Operating profit (loss) | 9901 | €6,576 | -€2,658 | -€9,234 | |
| Financial income | 75/76B | €143 | €154 | +€10 | +7.3% |
| Recurring financial income | 75 | €143 | €154 | +€10 | +7.3% |
| Financial charges | 65/66B | €86 | €83 | -€4 | -4.2% |
| Recurring financial charges | 65 | €86 | €83 | -€4 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €6,633 | -€2,587 | -€9,220 | |
| Income taxes | 67/77 | €108 | €0 | -€108 | -100% |
| Profit (loss) for the period | 9904 | €6,525 | -€2,587 | -€9,112 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,525 | -€2,587 | -€9,112 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.