KAT DWD: 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.
KAT DWD
Largest movements
- Receivables after one year +€200,000
new in 2025: €200,000
- Cash -€155,585
down €155,585 (-46.4%), from €335,075 to €179,490
mainly Receivables after one year (-€200,000) and Tax, wage and social debts (-€44,100)
- Tangible fixed assets +€14,012
up €14,012 (+3,873%), from €362 to €14,374
of which Other tangible fixed assets: +€13,649
- Reserves +€104,790
up €104,790 (+36.7%), from €285,847 to €390,637
- Tax, wage and social debts -€44,100
down €44,100 (-89.5%), from €49,299 to €5,200
of which Taxes: -€40,139
No income-statement line moved by more than 1% of the activity.
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 | €345,769 | €402,965 | +€57,196 | +16.5% |
| Fixed assets | 21/28 | €362 | €14,374 | +€14,012 | +3,873% |
| Tangible fixed assets | 22/27 | €362 | €14,374 | +€14,012 | +3,873% |
| Furniture and vehicles | 24 | €362 | €725 | +€363 | +100% |
| Other tangible fixed assets | 26 | - | €13,649 | +€13,649 | |
| Current assets | 29/58 | €345,407 | €388,590 | +€43,183 | +12.5% |
| Amounts receivable after more than one year | 29 | - | €200,000 | +€200,000 | |
| Other amounts receivable | 291 | - | €200,000 | +€200,000 | |
| Amounts receivable within one year | 40/41 | €4,739 | €5,115 | +€376 | +7.9% |
| Other amounts receivable | 41 | €4,739 | €5,115 | +€376 | +7.9% |
| Cash at bank and in hand | 54/58 | €335,075 | €179,490 | -€155,585 | -46.4% |
| Deferred charges and accrued income | 490/1 | €5,593 | €3,986 | -€1,608 | -28.7% |
| Total equity and liabilities | 10/49 | €345,769 | €402,965 | +€57,196 | +16.5% |
| Equity | 10/15 | €289,347 | €394,137 | +€104,790 | +36.2% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €285,847 | €390,637 | +€104,790 | +36.7% |
| Distributable reserves | 133 | €285,847 | €390,637 | +€104,790 | +36.7% |
| Amounts payable | 17/49 | €56,422 | €8,827 | -€47,594 | -84.4% |
| Amounts payable within one year | 42/48 | €53,948 | €6,066 | -€47,883 | -88.8% |
| Trade debts | 44 | €4,649 | €866 | -€3,783 | -81.4% |
| Suppliers | 440/4 | €4,649 | €866 | -€3,783 | -81.4% |
| Taxes, remuneration and social security | 45 | €49,299 | €5,200 | -€44,100 | -89.5% |
| Taxes | 450/3 | €45,338 | €5,200 | -€40,139 | -88.5% |
| Remuneration and social security | 454/9 | €3,961 | - | -€3,961 | |
| Accrued charges and deferred income | 492/3 | €2,474 | €2,762 | +€288 | +11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €429 | €1,495 | +€1,067 | +249% |
| Other operating charges | 640/8 | €100 | €395 | +€295 | +295% |
| Gross operating margin | 9900 | €150,913 | €152,180 | +€1,267 | +0.8% |
| Operating profit (loss) | 9901 | €150,385 | €150,290 | -€95 | -0.1% |
| Financial income | 75/76B | €656 | €822 | +€166 | +25.3% |
| Recurring financial income | 75 | €656 | €822 | +€166 | +25.3% |
| Financial charges | 65/66B | €1,166 | €876 | -€290 | -24.9% |
| Recurring financial charges | 65 | €1,166 | €876 | -€290 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €149,874 | €150,236 | +€361 | +0.2% |
| Income taxes | 67/77 | €45,535 | €45,446 | -€89 | -0.2% |
| Profit (loss) for the period | 9904 | €104,339 | €104,790 | +€451 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €104,339 | €104,790 | +€451 | +0.4% |
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 13 October 2026 via checked.be.