KAPZONE: 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.
KAPZONE
Largest movements
- Cash +€176,496
up €176,496 (+132%), from €133,643 to €310,138
mainly Current investments (+€130,000) and Net result for the year (+€54,052)
- Current investments -€130,000
no longer reported in 2025 (was €130,000)
- Tangible fixed assets -€23,092
down €23,092 (-15.9%), from €145,197 to €122,105
of which Other tangible fixed assets: -€13,604
- Reserves +€26,140
up €26,140 (+12.5%), from €209,138 to €235,278
- Other debts +€9,167
up €9,167 (+17.0%), from €54,035 to €63,202
- Trade debts -€6,121
down €6,121 (-81.3%), from €7,530 to €1,410
- Gross operating margin -€15,312
down €15,312 (-6.2%), from €247,327 to €232,015
- Staff costs -€13,293
down €13,293 (-9.3%), from €142,361 to €129,068
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 | €415,778 | €442,245 | +€26,467 | +6.4% |
| Fixed assets | 21/28 | €145,197 | €122,105 | -€23,092 | -15.9% |
| Tangible fixed assets | 22/27 | €145,197 | €122,105 | -€23,092 | -15.9% |
| Plant, machinery and equipment | 23 | €2,302 | €1,121 | -€1,181 | -51.3% |
| Furniture and vehicles | 24 | €20,848 | €12,541 | -€8,307 | -39.8% |
| Other tangible fixed assets | 26 | €122,048 | €108,444 | -€13,604 | -11.1% |
| Current assets | 29/58 | €270,581 | €320,140 | +€49,559 | +18.3% |
| Stocks and contracts in progress | 3 | €5,269 | €6,060 | +€791 | +15.0% |
| Stocks | 30/36 | €5,269 | €6,060 | +€791 | +15.0% |
| Amounts receivable within one year | 40/41 | €261 | €578 | +€317 | +121% |
| Trade receivables | 40 | €246 | €432 | +€186 | +75.6% |
| Other amounts receivable | 41 | €15 | €146 | +€131 | +865% |
| Current investments | 50/53 | €130,000 | - | -€130,000 | |
| Cash at bank and in hand | 54/58 | €133,643 | €310,138 | +€176,496 | +132% |
| Deferred charges and accrued income | 490/1 | €1,408 | €3,364 | +€1,956 | +139% |
| Total equity and liabilities | 10/49 | €415,778 | €442,245 | +€26,467 | +6.4% |
| Equity | 10/15 | €259,138 | €285,278 | +€26,140 | +10.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €209,138 | €235,278 | +€26,140 | +12.5% |
| Distributable reserves | 133 | €209,138 | €235,278 | +€26,140 | +12.5% |
| Amounts payable | 17/49 | €156,640 | €156,967 | +€327 | +0.2% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €104,756 | €105,196 | +€440 | +0.4% |
| Trade debts | 44 | €7,530 | €1,410 | -€6,121 | -81.3% |
| Suppliers | 440/4 | €7,530 | €1,410 | -€6,121 | -81.3% |
| Taxes, remuneration and social security | 45 | €43,190 | €40,584 | -€2,606 | -6.0% |
| Taxes | 450/3 | €25,635 | €23,762 | -€1,874 | -7.3% |
| Remuneration and social security | 454/9 | €17,555 | €16,823 | -€733 | -4.2% |
| Other amounts payable | 47/48 | €54,035 | €63,202 | +€9,167 | +17.0% |
| Accrued charges and deferred income | 492/3 | €1,884 | €1,771 | -€113 | -6.0% |
| Remuneration, social security and pensions | 62 | €142,361 | €129,068 | -€13,293 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,354 | €23,092 | -€1,262 | -5.2% |
| Other operating charges | 640/8 | €1,174 | €1,205 | +€31 | +2.6% |
| Non-recurring operating charges | 66A | €960 | - | -€960 | |
| Gross operating margin | 9900 | €247,327 | €232,015 | -€15,312 | -6.2% |
| Operating profit (loss) | 9901 | €78,478 | €78,650 | +€172 | +0.2% |
| Financial income | 75/76B | €2,165 | €3,003 | +€838 | +38.7% |
| Recurring financial income | 75 | €2,165 | €3,003 | +€838 | +38.7% |
| Financial charges | 65/66B | €6,888 | €6,297 | -€591 | -8.6% |
| Recurring financial charges | 65 | €6,888 | €6,297 | -€591 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €73,754 | €75,356 | +€1,601 | +2.2% |
| Income taxes | 67/77 | €19,354 | €21,303 | +€1,950 | +10.1% |
| Profit (loss) for the period | 9904 | €54,401 | €54,052 | -€349 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €54,401 | €54,052 | -€349 | -0.6% |
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 14 October 2026 via checked.be.