KAPPER TAELMAN: 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.
KAPPER TAELMAN
Largest movements
- Current investments +€25,000
new in 2025: €25,000
- Cash -€19,615
down €19,615 (-23.0%), from €85,103 to €65,488
mainly Current investments (-€25,000) and Investment in fixed assets (net) (-€11,303)
- Financial fixed assets +€8,200
new in 2025: €8,200
- Reserves +€13,879
up €13,879 (+30.9%), from €44,893 to €58,773
- Trade debts -€11,114
down €11,114 (-50.8%), from €21,872 to €10,759
- Profit (loss) carried forward +€8,310
no longer reported in 2025 (was -€8,310)
- Tax, wage and social debts +€7,799
up €7,799 (+33.4%), from €23,350 to €31,149
of which Taxes: +€9,061
- Other debts -€2,879
down €2,879 (-9.5%), from €30,198 to €27,318
- Staff costs -€28,364
down €28,364 (-16.3%), from €173,484 to €145,120
- Gross operating margin +€3,856
up €3,856 (+2.2%), from €176,461 to €180,317
- Taxes +€3,462
new in 2025: €3,462
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 | €132,232 | €148,047 | +€15,814 | +12.0% |
| Fixed assets | 21/28 | €22,782 | €31,455 | +€8,673 | +38.1% |
| Tangible fixed assets | 22/27 | €22,782 | €23,255 | +€473 | +2.1% |
| Land and buildings | 22 | €6,530 | €6,414 | -€117 | -1.8% |
| Furniture and vehicles | 24 | €1,265 | €713 | -€552 | -43.7% |
| Other tangible fixed assets | 26 | €14,987 | €16,129 | +€1,142 | +7.6% |
| Financial fixed assets | 28 | - | €8,200 | +€8,200 | |
| Current assets | 29/58 | €109,450 | €116,592 | +€7,141 | +6.5% |
| Stocks and contracts in progress | 3 | €3,346 | €4,774 | +€1,428 | +42.7% |
| Stocks | 30/36 | €3,346 | €4,774 | +€1,428 | +42.7% |
| Amounts receivable within one year | 40/41 | €12,842 | €12,756 | -€86 | -0.7% |
| Trade receivables | 40 | €1,511 | €5,098 | +€3,587 | +237% |
| Other amounts receivable | 41 | €11,331 | €7,658 | -€3,674 | -32.4% |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €85,103 | €65,488 | -€19,615 | -23.0% |
| Deferred charges and accrued income | 490/1 | €8,159 | €8,574 | +€415 | +5.1% |
| Total equity and liabilities | 10/49 | €132,232 | €148,047 | +€15,814 | +12.0% |
| Equity | 10/15 | €55,183 | €77,373 | +€22,190 | +40.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,893 | €58,773 | +€13,879 | +30.9% |
| Distributable reserves | 133 | €44,893 | €58,773 | +€13,879 | +30.9% |
| Profit (loss) carried forward | 14 | -€8,310 | - | +€8,310 | |
| Amounts payable | 17/49 | €77,049 | €70,674 | -€6,375 | -8.3% |
| Amounts payable within one year | 42/48 | €75,420 | €69,226 | -€6,194 | -8.2% |
| Trade debts | 44 | €21,872 | €10,759 | -€11,114 | -50.8% |
| Suppliers | 440/4 | €21,872 | €10,759 | -€11,114 | -50.8% |
| Taxes, remuneration and social security | 45 | €23,350 | €31,149 | +€7,799 | +33.4% |
| Taxes | 450/3 | €4,408 | €13,469 | +€9,061 | +206% |
| Remuneration and social security | 454/9 | €18,941 | €17,679 | -€1,262 | -6.7% |
| Other amounts payable | 47/48 | €30,198 | €27,318 | -€2,879 | -9.5% |
| Accrued charges and deferred income | 492/3 | €1,629 | €1,448 | -€181 | -11.1% |
| Remuneration, social security and pensions | 62 | €173,484 | €145,120 | -€28,364 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,865 | €2,630 | +€765 | +41.0% |
| Other operating charges | 640/8 | €5,953 | €5,516 | -€438 | -7.4% |
| Gross operating margin | 9900 | €176,461 | €180,317 | +€3,856 | +2.2% |
| Operating profit (loss) | 9901 | -€4,842 | €27,051 | +€31,893 | |
| Financial income | 75/76B | €173 | €1,652 | +€1,480 | +857% |
| Recurring financial income | 75 | €173 | €1,652 | +€1,480 | +857% |
| Financial charges | 65/66B | €2,769 | €3,052 | +€283 | +10.2% |
| Recurring financial charges | 65 | €2,769 | €3,052 | +€283 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | -€7,438 | €25,651 | +€33,090 | |
| Income taxes | 67/77 | - | €3,462 | +€3,462 | |
| Profit (loss) for the period | 9904 | -€7,438 | €22,190 | +€29,628 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,438 | €22,190 | +€29,628 |
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 18 October 2026 via checked.be.