KAPO DEPO: 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 DEPO
Largest movements
- Current investments -€199,689
down €199,689 (-33.1%), from €603,185 to €403,495
- Cash +€193,274
up €193,274 (+80.2%), from €241,045 to €434,319
mainly Current investments (+€199,689) and Net result for the year (+€24,615)
- Tangible fixed assets +€26,811
up €26,811 (+50.8%), from €52,800 to €79,610
of which Furniture and vehicles: +€27,038
- Reserves +€24,615
up €24,615 (+2.8%), from €894,659 to €919,274
of which Distributable reserves: +€87,765
- Current portion of long-term debt -€12,014
down €12,014 (-71.6%), from €16,780 to €4,765
- Gross operating margin +€70,355
up €70,355, from -€15,634 to €54,722
- Financial income -€18,492
down €18,492 (-53.8%), from €34,343 to €15,850
of which Financial income: -€18,492
- Taxes +€18,306
up €18,306 (+718%), from €2,550 to €20,857
- Depreciation +€6,683
up €6,683 (+43.4%), from €15,407 to €22,089
- Staff costs -€2,402
down €2,402 (-100%), from €2,402 to €0
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.
Derived cash bridge
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 | €942,973 | €954,046 | +€11,073 | +1.2% |
| Fixed assets | 21/28 | €69,328 | €96,139 | +€26,811 | +38.7% |
| Tangible fixed assets | 22/27 | €52,800 | €79,610 | +€26,811 | +50.8% |
| Land and buildings | 22 | €1,313 | €1,086 | -€227 | -17.3% |
| Furniture and vehicles | 24 | €51,487 | €78,525 | +€27,038 | +52.5% |
| Financial fixed assets | 28 | €16,528 | €16,528 | = | 0.0% |
| Current assets | 29/58 | €873,645 | €857,908 | -€15,738 | -1.8% |
| Amounts receivable within one year | 40/41 | €23,068 | €19,630 | -€3,439 | -14.9% |
| Trade receivables | 40 | €13,374 | €924 | -€12,450 | -93.1% |
| Other amounts receivable | 41 | €9,694 | €18,706 | +€9,012 | +93.0% |
| Current investments | 50/53 | €603,185 | €403,495 | -€199,689 | -33.1% |
| Cash at bank and in hand | 54/58 | €241,045 | €434,319 | +€193,274 | +80.2% |
| Deferred charges and accrued income | 490/1 | €6,347 | €464 | -€5,884 | -92.7% |
| Total equity and liabilities | 10/49 | €942,973 | €954,046 | +€11,073 | +1.2% |
| Equity | 10/15 | €913,259 | €937,874 | +€24,615 | +2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €894,659 | €919,274 | +€24,615 | +2.8% |
| Tax-exempt reserves | 132 | €105,250 | €42,100 | -€63,150 | -60.0% |
| Distributable reserves | 133 | €789,409 | €877,174 | +€87,765 | +11.1% |
| Amounts payable | 17/49 | €29,714 | €16,172 | -€13,542 | -45.6% |
| Amounts payable after more than one year | 17 | €4,765 | €0 | -€4,765 | -100% |
| Financial debts | 170/4 | €4,765 | €0 | -€4,765 | -100% |
| Amounts payable within one year | 42/48 | €24,949 | €15,806 | -€9,143 | -36.6% |
| Current portion of amounts payable after more than one year | 42 | €16,780 | €4,765 | -€12,014 | -71.6% |
| Trade debts | 44 | €891 | €2,319 | +€1,428 | +160% |
| Suppliers | 440/4 | €891 | €2,319 | +€1,428 | +160% |
| Taxes, remuneration and social security | 45 | €5,864 | €0 | -€5,864 | -100% |
| Taxes | 450/3 | €1,859 | €0 | -€1,859 | -100% |
| Remuneration and social security | 454/9 | €4,004 | €0 | -€4,004 | -100% |
| Other amounts payable | 47/48 | €1,415 | €8,721 | +€7,306 | +516% |
| Accrued charges and deferred income | 492/3 | - | €367 | +€367 | |
| Non-recurring operating income | 76A | €0 | €100,000 | +€100,000 | |
| Remuneration, social security and pensions | 62 | €2,402 | €0 | -€2,402 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,407 | €22,089 | +€6,683 | +43.4% |
| Other operating charges | 640/8 | €1,653 | €2,102 | +€449 | +27.1% |
| Gross operating margin | 9900 | -€15,634 | €54,722 | +€70,355 | |
| Operating profit (loss) | 9901 | -€35,095 | €30,531 | +€65,626 | |
| Financial income | 75/76B | €34,343 | €15,850 | -€18,492 | -53.8% |
| Recurring financial income | 75 | €34,343 | €15,850 | -€18,492 | -53.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €835 | €909 | +€74 | +8.9% |
| Recurring financial charges | 65 | €835 | €909 | +€74 | +8.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€1,588 | €45,472 | +€47,060 | |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €2,550 | €20,857 | +€18,306 | +718% |
| Profit (loss) for the period | 9904 | -€4,138 | €24,615 | +€28,754 | |
| Transfer from tax-exempt reserves | 789 | €0 | €63,150 | +€63,150 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,138 | €87,765 | +€91,904 |
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 25 October 2026 via checked.be.