KAT: what changed
Two fiscal 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.
KAT
Largest movements
- Receivables within one year -€392,486
down €392,486 (-54.9%), from €714,622 to €322,136
of which Other amounts receivable: -€327,712
- Profit (loss) carried forward -€287,004
down €287,004 (-51.3%), from €559,330 to €272,325
- Trade debts -€117,977
down €117,977 (-97.7%), from €120,791 to €2,815
- Tax, wage and social debts +€23,679
up €23,679 (+398.8%), from €5,937 to €29,616
- Other debts -€18,000
no longer reported in 2025 (was €18,000)
- Financial charges +€251,990
up €251,990 (+85997.5%), from €293 to €252,283
of which Non-recurring financial charges: +€251,867
- Gross operating margin -€53,016
down €53,016, from €11,895 to -€41,122
- Financial income -€13,717
down €13,717 (-48.5%), from €28,308 to €14,591
- Taxes -€4,154
no longer reported in 2025 (was €4,154)
- Depreciation +€1,739
up €1,739 (+30.8%), from €5,639 to €7,378
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.
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €742,307 | €343,005 | -€399,302 | -53.8% |
| Fixed assets | 21/28 | €27,166 | €20,644 | -€6,522 | -24.0% |
| Tangible fixed assets | 22/27 | €27,166 | €20,644 | -€6,522 | -24.0% |
| Furniture and vehicles | 24 | €3,984 | €2,449 | -€1,536 | -38.5% |
| Other tangible fixed assets | 26 | €23,182 | €18,195 | -€4,987 | -21.5% |
| Current assets | 29/58 | €715,141 | €322,361 | -€392,780 | -54.9% |
| Amounts receivable within one year | 40/41 | €714,622 | €322,136 | -€392,486 | -54.9% |
| Trade receivables | 40 | €65,000 | €226 | -€64,774 | -99.7% |
| Other amounts receivable | 41 | €649,622 | €321,911 | -€327,712 | -50.4% |
| Cash at bank and in hand | 54/58 | €519 | €54 | -€465 | -89.6% |
| Deferred charges and accrued income | 490/1 | - | €171 | +€171 | |
| Total equity and liabilities | 10/49 | €742,307 | €343,005 | -€399,302 | -53.8% |
| Equity | 10/15 | €561,189 | €274,185 | -€287,004 | -51.1% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €559,330 | €272,325 | -€287,004 | -51.3% |
| Provisions and deferred taxes | 16 | €36,389 | €36,389 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €36,389 | €36,389 | = | 0.0% |
| Pensions and similar obligations | 160 | €36,389 | €36,389 | = | 0.0% |
| Amounts payable | 17/49 | €144,729 | €32,431 | -€112,298 | -77.6% |
| Amounts payable within one year | 42/48 | €144,729 | €32,431 | -€112,298 | -77.6% |
| Trade debts | 44 | €120,791 | €2,815 | -€117,977 | -97.7% |
| Suppliers | 440/4 | €120,791 | €2,815 | -€117,977 | -97.7% |
| Taxes, remuneration and social security | 45 | €5,937 | €29,616 | +€23,679 | +398.8% |
| Taxes | 450/3 | €5,937 | €29,616 | +€23,679 | +398.8% |
| Other amounts payable | 47/48 | €18,000 | - | -€18,000 | |
| Non-recurring operating income | 76A | €803 | - | -€803 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,639 | €7,378 | +€1,739 | +30.8% |
| Other operating charges | 640/8 | €387 | €787 | +€400 | +103.2% |
| Non-recurring operating charges | 66A | - | €26 | +€26 | |
| Gross operating margin | 9900 | €11,895 | -€41,122 | -€53,016 | |
| Operating profit (loss) | 9901 | €5,868 | -€49,313 | -€55,181 | |
| Financial income | 75/76B | €28,308 | €14,591 | -€13,717 | -48.5% |
| Recurring financial income | 75 | €28,308 | €14,591 | -€13,717 | -48.5% |
| Financial charges | 65/66B | €293 | €252,283 | +€251,990 | +85997.5% |
| Recurring financial charges | 65 | €293 | €416 | +€123 | +42.1% |
| Non-recurring financial charges | 66B | - | €251,867 | +€251,867 | |
| Profit (loss) for the period before taxes | 9903 | €33,883 | -€287,004 | -€320,888 | |
| Income taxes | 67/77 | €4,154 | - | -€4,154 | |
| Profit (loss) for the period | 9904 | €29,729 | -€287,004 | -€316,733 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,729 | -€287,004 | -€316,733 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.