KAPP.R: 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.R
Largest movements
- Cash +€50,698
up €50,698 (+88.7%), from €57,132 to €107,830
mainly Net result for the year (+€41,315) and Deferred charges and accrued income (+€7,337)
- Deferred charges and accrued income -€7,337
down €7,337 (-21.8%), from €33,716 to €26,379
- Profit (loss) carried forward +€41,315
up €41,315 (+75.4%), from €54,803 to €96,117
- Tax, wage and social debts +€4,793
up €4,793 (+23.6%), from €20,283 to €25,077
of which Taxes: +€5,432
- Trade debts -€3,303
down €3,303 (-35.6%), from €9,273 to €5,971
- Gross operating margin +€15,217
up €15,217 (+10.7%), from €141,701 to €156,918
- Financial income -€7,782
down €7,782 (-91.8%), from €8,473 to €691
of which Non-recurring financial income: -€8,399
- Staff costs -€4,005
down €4,005 (-4.1%), from €98,179 to €94,175
- Taxes +€3,032
up €3,032 (+30.8%), from €9,851 to €12,882
- Financial charges +€2,671
up €2,671 (+211%), from €1,263 to €3,934
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 | €105,594 | €148,483 | +€42,889 | +40.6% |
| Fixed assets | 21/28 | €14,502 | €14,274 | -€228 | -1.6% |
| Tangible fixed assets | 22/27 | €14,402 | €14,174 | -€228 | -1.6% |
| Plant, machinery and equipment | 23 | €2,525 | €2,264 | -€261 | -10.3% |
| Furniture and vehicles | 24 | €10,770 | €11,017 | +€247 | +2.3% |
| Other tangible fixed assets | 26 | €1,107 | €893 | -€215 | -19.4% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €91,092 | €134,209 | +€43,117 | +47.3% |
| Amounts receivable within one year | 40/41 | €244 | - | -€244 | |
| Other amounts receivable | 41 | €244 | - | -€244 | |
| Cash at bank and in hand | 54/58 | €57,132 | €107,830 | +€50,698 | +88.7% |
| Deferred charges and accrued income | 490/1 | €33,716 | €26,379 | -€7,337 | -21.8% |
| Total equity and liabilities | 10/49 | €105,594 | €148,483 | +€42,889 | +40.6% |
| Equity | 10/15 | €75,263 | €116,577 | +€41,315 | +54.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,803 | €96,117 | +€41,315 | +75.4% |
| Amounts payable | 17/49 | €30,332 | €31,906 | +€1,574 | +5.2% |
| Amounts payable within one year | 42/48 | €30,332 | €31,906 | +€1,574 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €5 | €2 | -€3 | -62.6% |
| Trade debts | 44 | €9,273 | €5,971 | -€3,303 | -35.6% |
| Suppliers | 440/4 | €9,273 | €5,971 | -€3,303 | -35.6% |
| Taxes, remuneration and social security | 45 | €20,283 | €25,077 | +€4,793 | +23.6% |
| Taxes | 450/3 | €12,903 | €18,335 | +€5,432 | +42.1% |
| Remuneration and social security | 454/9 | €7,380 | €6,741 | -€638 | -8.7% |
| Other amounts payable | 47/48 | €770 | €857 | +€87 | +11.3% |
| Remuneration, social security and pensions | 62 | €98,179 | €94,175 | -€4,005 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,485 | €4,246 | +€761 | +21.8% |
| Other operating charges | 640/8 | €1,952 | €1,056 | -€895 | -45.9% |
| Gross operating margin | 9900 | €141,701 | €156,918 | +€15,217 | +10.7% |
| Operating profit (loss) | 9901 | €38,085 | €57,441 | +€19,356 | +50.8% |
| Financial income | 75/76B | €8,473 | €691 | -€7,782 | -91.8% |
| Recurring financial income | 75 | €73 | €691 | +€617 | +841% |
| Non-recurring financial income | 76B | €8,399 | - | -€8,399 | |
| Financial charges | 65/66B | €1,263 | €3,934 | +€2,671 | +211% |
| Recurring financial charges | 65 | €1,263 | €3,934 | +€2,671 | +211% |
| Profit (loss) for the period before taxes | 9903 | €45,294 | €54,197 | +€8,903 | +19.7% |
| Income taxes | 67/77 | €9,851 | €12,882 | +€3,032 | +30.8% |
| Profit (loss) for the period | 9904 | €35,443 | €41,315 | +€5,871 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,443 | €41,315 | +€5,871 | +16.6% |
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 20 October 2026 via checked.be.