KAPP INVEST: what changed
What changed
KAPP INVEST
filed annual accounts (NBB)
Net result for the year
-€7,406
2024 · €74,730-€82,136
Equity
€516,685
2024 · €524,091-€7,406
Cash
€4,298
2024 · €4,239+€59
Balance sheet total
€844,360
2024 · €870,740-€26,380
Largest movements
Assets
- Tangible fixed assets -€44,482
down €44,482 (-6.0%), from €746,809 to €702,327
of which Land and buildings: -€38,617
- Receivables within one year +€27,001
up €27,001 (+54.0%), from €50,000 to €77,001
- Deferred charges and accrued income -€8,958
down €8,958 (-12.9%), from €69,692 to €60,733
Equity and liabilities
- Reserves -€26,153
down €26,153 (-9.3%), from €280,319 to €254,166
of which Tax-exempt reserves: -€26,153
- Debts after one year -€24,809
down €24,809 (-8.5%), from €291,967 to €267,157
of which Financial debts: -€24,809
- Profit (loss) carried forward +€18,747
up €18,747 (+22.9%), from €81,772 to €100,519
Income statement
- Gross operating margin -€56,683
down €56,683 (-48.3%), from €117,463 to €60,780
- Depreciation +€16,153
up €16,153 (+57.0%), from €28,329 to €44,482
- Financial charges +€7,971
up €7,971 (+303%), from €2,630 to €10,601
- Taxes +€6,129
up €6,129 (+686%), from €893 to €7,022
- Other operating charges -€4,801
down €4,801 (-44.1%), from €10,882 to €6,082
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€74,730
Gross operating margin
-€56,683
Depreciation
-€16,153
Other operating charges
+€4,801
Financial income
-€1
Financial charges
-€7,971
Taxes
-€6,129
Result 2025
-€7,406
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€26,663
Investment
€0
Financing
-€26,603
Cash 2024
€4,239
From operations (derived)
+€26,663
Net result for the year
-€7,406
Depreciation
+€44,482
Receivables within one year
-€27,001
Deferred charges and accrued income
+€8,958
Trade debts
+€234
Tax, wage and social debts
+€6,509
Other debts
+€887
Financing
-€26,603
Debts after one year
-€24,809
Current portion of long-term debt
-€1,794
Cash 2025
€4,298
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €870,740 | €844,360 | -€26,380 | -3.0% |
| Fixed assets | 21/28 | €746,809 | €702,327 | -€44,482 | -6.0% |
| Tangible fixed assets | 22/27 | €746,809 | €702,327 | -€44,482 | -6.0% |
| Land and buildings | 22 | €698,447 | €659,830 | -€38,617 | -5.5% |
| Other tangible fixed assets | 26 | €48,362 | €42,497 | -€5,865 | -12.1% |
| Current assets | 29/58 | €123,930 | €142,032 | +€18,102 | +14.6% |
| Amounts receivable within one year | 40/41 | €50,000 | €77,001 | +€27,001 | +54.0% |
| Other amounts receivable | 41 | €50,000 | €77,001 | +€27,001 | +54.0% |
| Cash at bank and in hand | 54/58 | €4,239 | €4,298 | +€59 | +1.4% |
| Deferred charges and accrued income | 490/1 | €69,692 | €60,733 | -€8,958 | -12.9% |
| Total equity and liabilities | 10/49 | €870,740 | €844,360 | -€26,380 | -3.0% |
| Equity | 10/15 | €524,091 | €516,685 | -€7,406 | -1.4% |
| Contributions | 10/11 | €162,000 | €162,000 | = | 0.0% |
| Capital | 10 | €162,000 | €162,000 | = | 0.0% |
| Issued capital | 100 | €162,000 | €162,000 | = | 0.0% |
| Reserves | 13 | €280,319 | €254,166 | -€26,153 | -9.3% |
| Non-distributable reserves | 130/1 | €6,849 | €6,849 | = | 0.0% |
| Legal reserve | 130 | €6,849 | €6,849 | = | 0.0% |
| Tax-exempt reserves | 132 | €253,470 | €227,317 | -€26,153 | -10.3% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,772 | €100,519 | +€18,747 | +22.9% |
| Amounts payable | 17/49 | €346,649 | €327,675 | -€18,974 | -5.5% |
| Amounts payable after more than one year | 17 | €291,967 | €267,157 | -€24,809 | -8.5% |
| Financial debts | 170/4 | €291,267 | €266,457 | -€24,809 | -8.5% |
| Other amounts payable | 178/9 | €700 | €700 | = | 0.0% |
| Amounts payable within one year | 42/48 | €54,564 | €60,400 | +€5,835 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €26,603 | €24,809 | -€1,794 | -6.7% |
| Trade debts | 44 | - | €234 | +€234 | |
| Suppliers | 440/4 | - | €234 | +€234 | |
| Taxes, remuneration and social security | 45 | €6,832 | €13,341 | +€6,509 | +95.3% |
| Taxes | 450/3 | €6,832 | €13,341 | +€6,509 | +95.3% |
| Other amounts payable | 47/48 | €21,129 | €22,016 | +€887 | +4.2% |
| Accrued charges and deferred income | 492/3 | €118 | €118 | = | 0.0% |
| Non-recurring operating income | 76A | €97,592 | - | -€97,592 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,329 | €44,482 | +€16,153 | +57.0% |
| Other operating charges | 640/8 | €10,882 | €6,082 | -€4,801 | -44.1% |
| Gross operating margin | 9900 | €117,463 | €60,780 | -€56,683 | -48.3% |
| Operating profit (loss) | 9901 | €78,252 | €10,217 | -€68,036 | -86.9% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €2,630 | €10,601 | +€7,971 | +303% |
| Recurring financial charges | 65 | €2,630 | €10,601 | +€7,971 | +303% |
| Profit (loss) for the period before taxes | 9903 | €75,623 | -€384 | -€76,008 | |
| Income taxes | 67/77 | €893 | €7,022 | +€6,129 | +686% |
| Profit (loss) for the period | 9904 | €74,730 | -€7,406 | -€82,136 | |
| Transfer from tax-exempt reserves | 789 | €26,153 | €26,153 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €97,592 | - | -€97,592 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,291 | €18,747 | +€15,456 | +470% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.