KAPHIS: 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.
KAPHIS
Largest movements
- Receivables within one year +€26,607
up €26,607 (+170.5%), from €15,602 to €42,210
- Cash +€9,567
up €9,567 (+7777.5%), from €123 to €9,690
mainly Net result for the year (+€27,491) and Tax, wage and social debts (+€8,739)
- Tangible fixed assets +€2,455
up €2,455 (+1.6%), from €153,107 to €155,562
- Reserves +€27,491
up €27,491 (+17.9%), from €154,004 to €181,495
of which Distributable reserves: +€27,491
- Tax, wage and social debts +€8,739
up €8,739 (+776.1%), from €1,126 to €9,865
- Trade debts +€4,495
up €4,495 (+2283.6%), from €197 to €4,692
- Other debts -€4,096
down €4,096 (-50.8%), from €8,061 to €3,965
- Gross operating margin +€37,810
up €37,810 (+3966.1%), from €953 to €38,763
- Taxes +€8,739
new in 2025: €8,739
- Financial charges -€4,307
down €4,307 (-98.3%), from €4,381 to €74
of which Non-recurring financial charges: -€4,310
- Other operating charges -€413
down €413 (-45.0%), from €918 to €505
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 | €170,833 | €207,462 | +€36,629 | +21.4% |
| Fixed assets | 21/28 | €153,107 | €155,562 | +€2,455 | +1.6% |
| Tangible fixed assets | 22/27 | €153,107 | €155,562 | +€2,455 | +1.6% |
| Land and buildings | 22 | €153,107 | €155,562 | +€2,455 | +1.6% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €17,725 | €51,900 | +€34,174 | +192.8% |
| Amounts receivable within one year | 40/41 | €15,602 | €42,210 | +€26,607 | +170.5% |
| Other amounts receivable | 41 | €15,602 | €42,210 | +€26,607 | +170.5% |
| Cash at bank and in hand | 54/58 | €123 | €9,690 | +€9,567 | +7777.5% |
| Deferred charges and accrued income | 490/1 | €2,000 | €0 | -€2,000 | -100.0% |
| Total equity and liabilities | 10/49 | €170,833 | €207,462 | +€36,629 | +21.4% |
| Equity | 10/15 | €161,449 | €188,940 | +€27,491 | +17.0% |
| Contributions | 10/11 | €7,445 | €7,445 | = | 0.0% |
| Reserves | 13 | €154,004 | €181,495 | +€27,491 | +17.9% |
| 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 | €152,144 | €179,635 | +€27,491 | +18.1% |
| Amounts payable | 17/49 | €9,384 | €18,522 | +€9,138 | +97.4% |
| Amounts payable within one year | 42/48 | €9,384 | €18,522 | +€9,138 | +97.4% |
| Trade debts | 44 | €197 | €4,692 | +€4,495 | +2283.6% |
| Suppliers | 440/4 | €197 | €4,692 | +€4,495 | +2283.6% |
| Taxes, remuneration and social security | 45 | €1,126 | €9,865 | +€8,739 | +776.1% |
| Taxes | 450/3 | €1,126 | €9,865 | +€8,739 | +776.1% |
| Other amounts payable | 47/48 | €8,061 | €3,965 | -€4,096 | -50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,928 | €1,954 | +€26 | +1.3% |
| Other operating charges | 640/8 | €918 | €505 | -€413 | -45.0% |
| Gross operating margin | 9900 | €953 | €38,763 | +€37,810 | +3966.1% |
| Operating profit (loss) | 9901 | -€1,893 | €36,304 | +€38,197 | |
| Financial charges | 65/66B | €4,381 | €74 | -€4,307 | -98.3% |
| Recurring financial charges | 65 | €71 | €74 | +€3 | +4.0% |
| Non-recurring financial charges | 66B | €4,310 | €0 | -€4,310 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,274 | €36,230 | +€42,504 | |
| Income taxes | 67/77 | - | €8,739 | +€8,739 | |
| Profit (loss) for the period | 9904 | -€6,274 | €27,491 | +€33,765 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,274 | €27,491 | +€33,765 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.