KAPA: 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.
KAPA
Largest movements
- Receivables within one year -€123,362
down €123,362 (-99.9%), from €123,509 to €147
- Cash +€99,675
up €99,675 (+54.3%), from €183,660 to €283,335
mainly Net result for the year (+€160,578) and Receivables within one year (+€123,362)
- Reserves -€25,000
down €25,000 (-8.9%), from €281,200 to €256,200
of which Distributable reserves: -€25,000
- Profit (loss) carried forward -€14,422
down €14,422 (-18.8%), from €76,595 to €62,173
- Tax, wage and social debts +€10,179
up €10,179 (+9.8%), from €104,219 to €114,397
- Gross operating margin -€18,990
down €18,990 (-6.8%), from €277,961 to €258,971
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 | €556,335 | €531,035 | -€25,300 | -4.5% |
| Fixed assets | 21/28 | €249,167 | €247,554 | -€1,613 | -0.6% |
| Tangible fixed assets | 22/27 | €249,167 | €247,554 | -€1,613 | -0.6% |
| Land and buildings | 22 | €246,053 | €246,053 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,114 | €1,501 | -€1,613 | -51.8% |
| Current assets | 29/58 | €307,169 | €283,481 | -€23,687 | -7.7% |
| Amounts receivable within one year | 40/41 | €123,509 | €147 | -€123,362 | -99.9% |
| Other amounts receivable | 41 | €123,509 | €147 | -€123,362 | -99.9% |
| Cash at bank and in hand | 54/58 | €183,660 | €283,335 | +€99,675 | +54.3% |
| Total equity and liabilities | 10/49 | €556,335 | €531,035 | -€25,300 | -4.5% |
| Equity | 10/15 | €419,795 | €380,373 | -€39,422 | -9.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €281,200 | €256,200 | -€25,000 | -8.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €275,000 | €250,000 | -€25,000 | -9.1% |
| Profit (loss) carried forward | 14 | €76,595 | €62,173 | -€14,422 | -18.8% |
| Amounts payable | 17/49 | €136,540 | €150,662 | +€14,122 | +10.3% |
| Amounts payable within one year | 42/48 | €116,731 | €129,214 | +€12,483 | +10.7% |
| Financial debts | 43 | €9,791 | €13,133 | +€3,342 | +34.1% |
| Credit institutions | 430/8 | €9,791 | €13,133 | +€3,342 | +34.1% |
| Trade debts | 44 | €2,721 | €1,684 | -€1,037 | -38.1% |
| Suppliers | 440/4 | €2,721 | €1,684 | -€1,037 | -38.1% |
| Taxes, remuneration and social security | 45 | €104,219 | €114,397 | +€10,179 | +9.8% |
| Taxes | 450/3 | €104,219 | €114,397 | +€10,179 | +9.8% |
| Accrued charges and deferred income | 492/3 | €19,809 | €21,448 | +€1,639 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,940 | €1,613 | -€327 | -16.9% |
| Other operating charges | 640/8 | €19,152 | €19,949 | +€797 | +4.2% |
| Gross operating margin | 9900 | €277,961 | €258,971 | -€18,990 | -6.8% |
| Operating profit (loss) | 9901 | €256,869 | €237,409 | -€19,460 | -7.6% |
| Financial income | 75/76B | €190 | €272 | +€82 | +43.0% |
| Recurring financial income | 75 | €190 | €272 | +€82 | +43.0% |
| Financial charges | 65/66B | €702 | €769 | +€67 | +9.6% |
| Recurring financial charges | 65 | €702 | €769 | +€67 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €256,357 | €236,912 | -€19,445 | -7.6% |
| Income taxes | 67/77 | €74,276 | €76,334 | +€2,058 | +2.8% |
| Profit (loss) for the period | 9904 | €182,081 | €160,578 | -€21,503 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €182,081 | €160,578 | -€21,503 | -11.8% |
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 4 October 2026 via checked.be.