Kasparov: 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.
Kasparov
Largest movements
- Current investments +€1.3m
new in 2025: €1.3m
- Financial fixed assets -€200,000
down €200,000 (-73.3%), from €273,000 to €73,000
- Receivables within one year +€187,489
up €187,489 (+211%), from €89,057 to €276,546
of which Other amounts receivable: +€196,947
- Cash +€65,206
up €65,206 (+190%), from €34,363 to €99,569
mainly Net result for the year (+€916,373) and Other debts (+€414,498)
- Tangible fixed assets -€35,313
down €35,313 (-4.8%), from €742,134 to €706,822
of which Other tangible fixed assets: -€24,694
- Reserves +€916,373
up €916,373 (+205%), from €447,974 to €1.4m
of which Distributable reserves: +€916,373
- Other debts +€414,498
up €414,498 (+162%), from €255,581 to €670,079
- Debts after one year -€28,249
down €28,249 (-8.6%), from €328,501 to €300,252
of which Financial debts: -€28,249
- Short-term financial debts -€25,035
down €25,035 (-83.1%), from €30,128 to €5,093
of which Credit institutions: -€25,000
- Financial income +€1.3m
up €1.3m (+336,695%), from €397 to €1.3m
of which Non-recurring financial income: +€1.3m
- Taxes +€349,381
up €349,381 (+1,667%), from €20,963 to €370,344
- Gross operating margin -€111,224
down €111,224 (-77.2%), from €144,012 to €32,787
- Financial charges +€7,884
up €7,884 (+25.6%), from €30,799 to €38,683
- Other operating charges +€1,976
up €1,976 (+35.6%), from €5,556 to €7,533
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 | €1,139,064 | €2,417,696 | +€1.3m | +112% |
| Fixed assets | 21/28 | €1,015,134 | €779,822 | -€235,313 | -23.2% |
| Tangible fixed assets | 22/27 | €742,134 | €706,822 | -€35,313 | -4.8% |
| Land and buildings | 22 | €88,506 | €81,184 | -€7,322 | -8.3% |
| Plant, machinery and equipment | 23 | €832 | €153 | -€680 | -81.7% |
| Furniture and vehicles | 24 | €4,194 | €1,577 | -€2,617 | -62.4% |
| Other tangible fixed assets | 26 | €648,602 | €623,908 | -€24,694 | -3.8% |
| Financial fixed assets | 28 | €273,000 | €73,000 | -€200,000 | -73.3% |
| Current assets | 29/58 | €123,930 | €1,637,874 | +€1.5m | +1,222% |
| Amounts receivable within one year | 40/41 | €89,057 | €276,546 | +€187,489 | +211% |
| Trade receivables | 40 | €37,807 | €28,349 | -€9,458 | -25.0% |
| Other amounts receivable | 41 | €51,250 | €248,197 | +€196,947 | +384% |
| Current investments | 50/53 | - | €1,261,249 | +€1.3m | |
| Cash at bank and in hand | 54/58 | €34,363 | €99,569 | +€65,206 | +190% |
| Deferred charges and accrued income | 490/1 | €510 | €510 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,139,064 | €2,417,696 | +€1.3m | +112% |
| Equity | 10/15 | €460,474 | €1,376,847 | +€916,373 | +199% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €447,974 | €1,364,347 | +€916,373 | +205% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €447,974 | €1,364,347 | +€916,373 | +205% |
| Amounts payable | 17/49 | €678,591 | €1,040,849 | +€362,258 | +53.4% |
| Amounts payable after more than one year | 17 | €328,501 | €300,252 | -€28,249 | -8.6% |
| Financial debts | 170/4 | €179,531 | €151,282 | -€28,249 | -15.7% |
| Other amounts payable | 178/9 | €148,970 | €148,970 | = | 0.0% |
| Amounts payable within one year | 42/48 | €350,090 | €740,597 | +€390,507 | +112% |
| Current portion of amounts payable after more than one year | 42 | €38,107 | €28,249 | -€9,858 | -25.9% |
| Financial debts | 43 | €30,128 | €5,093 | -€25,035 | -83.1% |
| Credit institutions | 430/8 | €25,000 | €0 | -€25,000 | -100% |
| Other loans | 439 | €5,128 | €5,093 | -€35 | -0.7% |
| Trade debts | 44 | €9,573 | €1,172 | -€8,401 | -87.8% |
| Suppliers | 440/4 | €9,573 | €1,172 | -€8,401 | -87.8% |
| Taxes, remuneration and social security | 45 | €16,701 | €36,004 | +€19,303 | +116% |
| Taxes | 450/3 | €16,701 | €36,004 | +€19,303 | +116% |
| Other amounts payable | 47/48 | €255,581 | €670,079 | +€414,498 | +162% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,313 | €35,313 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,556 | €7,533 | +€1,976 | +35.6% |
| Gross operating margin | 9900 | €144,012 | €32,787 | -€111,224 | -77.2% |
| Operating profit (loss) | 9901 | €103,143 | -€10,058 | -€113,200 | |
| Financial income | 75/76B | €397 | €1,335,459 | +€1.3m | +336,695% |
| Recurring financial income | 75 | €397 | €35,459 | +€35,062 | +8,842% |
| Non-recurring financial income | 76B | - | €1,300,000 | +€1.3m | |
| Financial charges | 65/66B | €30,799 | €38,683 | +€7,884 | +25.6% |
| Recurring financial charges | 65 | €30,799 | €38,683 | +€7,884 | +25.6% |
| Profit (loss) for the period before taxes | 9903 | €72,740 | €1,286,717 | +€1.2m | +1,669% |
| Income taxes | 67/77 | €20,963 | €370,344 | +€349,381 | +1,667% |
| Profit (loss) for the period | 9904 | €51,777 | €916,373 | +€864,596 | +1,670% |
| Profit (loss) for the period to be appropriated | 9905 | €51,777 | €916,373 | +€864,596 | +1,670% |
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 21 October 2026 via checked.be.