KAPO: 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.
KAPO
Largest movements
- Tangible fixed assets -€19,623
down €19,623 (-13.7%), from €143,320 to €123,696
- Cash +€9,164
up €9,164 (+37.1%), from €24,677 to €33,841
mainly Depreciation (+€19,623) and Accrued charges and deferred income (+€1,948)
- Debts after one year -€10,936
down €10,936 (-11.0%), from €99,583 to €88,647
of which Financial debts: -€10,936
- Accrued charges and deferred income +€1,948
up €1,948 (+100.8%), from €1,931 to €3,879
- Profit (loss) carried forward -€1,700
down €1,700 (-4.2%), from -€40,354 to -€42,054
- Gross operating margin -€423
down €423 (-1.4%), from €29,265 to €28,843
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 | €168,647 | €157,992 | -€10,655 | -6.3% |
| Fixed assets | 21/28 | €143,320 | €123,696 | -€19,623 | -13.7% |
| Tangible fixed assets | 22/27 | €143,320 | €123,696 | -€19,623 | -13.7% |
| Land and buildings | 22 | €143,320 | €123,696 | -€19,623 | -13.7% |
| Current assets | 29/58 | €25,327 | €34,295 | +€8,968 | +35.4% |
| Amounts receivable within one year | 40/41 | €375 | €0 | -€375 | -100.0% |
| Trade receivables | 40 | €375 | €0 | -€375 | -100.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €24,677 | €33,841 | +€9,164 | +37.1% |
| Deferred charges and accrued income | 490/1 | €275 | €455 | +€179 | +65.0% |
| Total equity and liabilities | 10/49 | €168,647 | €157,992 | -€10,655 | -6.3% |
| Equity | 10/15 | €28,246 | €26,546 | -€1,700 | -6.0% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,354 | -€42,054 | -€1,700 | -4.2% |
| Amounts payable | 17/49 | €140,402 | €131,446 | -€8,956 | -6.4% |
| Amounts payable after more than one year | 17 | €99,583 | €88,647 | -€10,936 | -11.0% |
| Financial debts | 170/4 | €83,190 | €72,254 | -€10,936 | -13.1% |
| Other amounts payable | 178/9 | €16,393 | €16,393 | = | 0.0% |
| Amounts payable within one year | 42/48 | €38,887 | €38,920 | +€33 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €10,733 | €10,936 | +€203 | +1.9% |
| Trade debts | 44 | €126 | €0 | -€126 | -100.0% |
| Suppliers | 440/4 | €126 | €0 | -€126 | -100.0% |
| Taxes, remuneration and social security | 45 | €520 | €476 | -€44 | -8.5% |
| Taxes | 450/3 | €520 | €476 | -€44 | -8.5% |
| Other amounts payable | 47/48 | €27,508 | €27,508 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,931 | €3,879 | +€1,948 | +100.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,623 | €19,623 | = | 0.0% |
| Other operating charges | 640/8 | €7,720 | €7,954 | +€234 | +3.0% |
| Gross operating margin | 9900 | €29,265 | €28,843 | -€423 | -1.4% |
| Operating profit (loss) | 9901 | €1,922 | €1,265 | -€657 | -34.2% |
| Financial charges | 65/66B | €3,146 | €2,964 | -€182 | -5.8% |
| Recurring financial charges | 65 | €3,146 | €2,964 | -€182 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,224 | -€1,700 | -€475 | -38.8% |
| Profit (loss) for the period | 9904 | -€1,224 | -€1,700 | -€475 | -38.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,224 | -€1,700 | -€475 | -38.8% |
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 12 October 2026 via checked.be.