KAPP GESTION: 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.
KAPP GESTION
Largest movements
- Current investments +€351,000
up €351,000 (+43.8%), from €802,000 to €1.2m
- Cash -€75,307
down €75,307 (-69.6%), from €108,163 to €32,855
mainly Current investments (-€351,000) and Investment in fixed assets (net) (-€99,082)
- Tangible fixed assets +€21,135
up €21,135 (+5.2%), from €403,412 to €424,546
of which Other tangible fixed assets: +€39,540
- Other debts +€269,590
up €269,590 (+348%), from €77,359 to €346,949
- Provisions +€55,982
new in 2025: €55,982
- Profit (loss) carried forward -€41,697
down €41,697 (-35.5%), from €117,467 to €75,770
- Current portion of long-term debt +€31,417
up €31,417 (+58.6%), from €53,592 to €85,009
- Trade debts -€22,345
down €22,345 (-72.1%), from €30,997 to €8,651
- Turnover -€394,887
no longer reported in 2025 (was €394,887)
- Purchases and services -€257,458
no longer reported in 2025 (was €257,458)
- Gross operating margin -€30,194
down €30,194 (-22.0%), from €137,429 to €107,235
- Depreciation +€11,946
up €11,946 (+18.1%), from €66,002 to €77,948
- Financial income -€8,761
down €8,761 (-32.5%), from €26,946 to €18,185
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 | €1,509,473 | €1,797,179 | +€287,706 | +19.1% |
| Fixed assets | 21/28 | €510,584 | €531,719 | +€21,135 | +4.1% |
| Tangible fixed assets | 22/27 | €403,412 | €424,546 | +€21,135 | +5.2% |
| Land and buildings | 22 | €76,476 | €64,273 | -€12,203 | -16.0% |
| Plant, machinery and equipment | 23 | €8,124 | €27,475 | +€19,350 | +238% |
| Furniture and vehicles | 24 | €73,635 | €48,083 | -€25,553 | -34.7% |
| Other tangible fixed assets | 26 | €245,177 | €284,716 | +€39,540 | +16.1% |
| Financial fixed assets | 28 | €107,172 | €107,172 | = | 0.0% |
| Current assets | 29/58 | €998,889 | €1,265,461 | +€266,571 | +26.7% |
| Amounts receivable within one year | 40/41 | €77,813 | €72,680 | -€5,133 | -6.6% |
| Trade receivables | 40 | €76,935 | €67,666 | -€9,269 | -12.0% |
| Other amounts receivable | 41 | €878 | €5,014 | +€4,136 | +471% |
| Current investments | 50/53 | €802,000 | €1,153,000 | +€351,000 | +43.8% |
| Cash at bank and in hand | 54/58 | €108,163 | €32,855 | -€75,307 | -69.6% |
| Deferred charges and accrued income | 490/1 | €10,913 | €6,925 | -€3,988 | -36.5% |
| Total equity and liabilities | 10/49 | €1,509,473 | €1,797,179 | +€287,706 | +19.1% |
| Equity | 10/15 | €1,237,901 | €1,196,203 | -€41,697 | -3.4% |
| Contributions | 10/11 | €18,574 | €18,574 | = | 0.0% |
| Reserves | 13 | €1,101,860 | €1,101,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,100,000 | €1,100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €117,467 | €75,770 | -€41,697 | -35.5% |
| Provisions and deferred taxes | 16 | - | €55,982 | +€55,982 | |
| Provisions for liabilities and charges | 160/5 | - | €55,982 | +€55,982 | |
| Taxes | 161 | - | €55,982 | +€55,982 | |
| Amounts payable | 17/49 | €271,573 | €544,994 | +€273,421 | +101% |
| Amounts payable after more than one year | 17 | €94,815 | €84,806 | -€10,009 | -10.6% |
| Financial debts | 170/4 | €68,475 | €58,466 | -€10,009 | -14.6% |
| Other amounts payable | 178/9 | €26,340 | €26,340 | = | 0.0% |
| Amounts payable within one year | 42/48 | €175,789 | €459,958 | +€284,169 | +162% |
| Current portion of amounts payable after more than one year | 42 | €53,592 | €85,009 | +€31,417 | +58.6% |
| Trade debts | 44 | €30,997 | €8,651 | -€22,345 | -72.1% |
| Suppliers | 440/4 | €30,997 | €8,651 | -€22,345 | -72.1% |
| Taxes, remuneration and social security | 45 | €13,842 | €19,348 | +€5,506 | +39.8% |
| Taxes | 450/3 | €13,842 | €19,020 | +€5,178 | +37.4% |
| Remuneration and social security | 454/9 | - | €328 | +€328 | |
| Other amounts payable | 47/48 | €77,359 | €346,949 | +€269,590 | +348% |
| Accrued charges and deferred income | 492/3 | €969 | €230 | -€739 | -76.3% |
| Turnover | 70 | €394,887 | - | -€394,887 | |
| Goods, raw materials, services and sundry goods | 60/61 | €257,458 | - | -€257,458 | |
| Remuneration, social security and pensions | 62 | €3,798 | €3,791 | -€7 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,002 | €77,948 | +€11,946 | +18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,564 | -€324 | -€3,888 | |
| Other operating charges | 640/8 | €17,039 | €20,658 | +€3,619 | +21.2% |
| Non-recurring operating charges | 66A | €24,961 | €55,982 | +€31,022 | +124% |
| Gross operating margin | 9900 | €137,429 | €107,235 | -€30,194 | -22.0% |
| Operating profit (loss) | 9901 | €22,065 | -€50,820 | -€72,885 | |
| Financial income | 75/76B | €26,946 | €18,185 | -€8,761 | -32.5% |
| Recurring financial income | 75 | €26,946 | €18,185 | -€8,761 | -32.5% |
| Financial charges | 65/66B | €6,233 | €8,461 | +€2,228 | +35.7% |
| Recurring financial charges | 65 | €6,233 | €8,461 | +€2,228 | +35.7% |
| Profit (loss) for the period before taxes | 9903 | €42,778 | -€41,096 | -€83,874 | |
| Income taxes | 67/77 | €8,662 | €602 | -€8,060 | -93.1% |
| Profit (loss) for the period | 9904 | €34,116 | -€41,697 | -€75,814 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,116 | -€41,697 | -€75,814 |
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 19 October 2026 via checked.be.