KATANA: 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.
KATANA
Largest movements
- Financial fixed assets -€1.6m
down €1.6m (-63.2%), from €2.5m to €908,775
- Current investments -€140,000
no longer reported in 2025 (was €140,000)
- Cash -€102,134
down €102,134 (-29.9%), from €341,747 to €239,613
mainly Net result for the year (-€750,090) and Short-term financial debts (-€722,775)
- Reserves -€905,827
down €905,827 (-43.4%), from €2.1m to €1.2m
- Short-term financial debts -€722,775
no longer reported in 2025 (was €722,775)
- Other debts -€183,624
down €183,624 (-54.1%), from €339,472 to €155,848
- Tax, wage and social debts -€33,897
down €33,897 (-91.7%), from €36,960 to €3,063
of which Taxes: -€36,960
- Financial income -€1.3m
down €1.3m (-87.4%), from €1.5m to €186,924
- Financial charges +€963,541
up €963,541 (+9614.4%), from €10,022 to €973,563
of which Non-recurring financial charges: +€972,909
- Write-downs -€303,009
down €303,009 (-96.2%), from €315,009 to €12,000
- Gross operating margin -€59,578
down €59,578 (-36.0%), from €165,340 to €105,762
- Taxes -€38,449
down €38,449 (-99.7%), from €38,581 to €132
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
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 | €3,197,314 | €1,365,672 | -€1.8m | -57.3% |
| Fixed assets | 21/28 | €2,474,873 | €912,725 | -€1.6m | -63.1% |
| Tangible fixed assets | 22/27 | €6,723 | €3,950 | -€2,773 | -41.2% |
| Furniture and vehicles | 24 | €6,723 | €3,950 | -€2,773 | -41.2% |
| Financial fixed assets | 28 | €2,468,150 | €908,775 | -€1.6m | -63.2% |
| Current assets | 29/58 | €722,441 | €452,947 | -€269,494 | -37.3% |
| Amounts receivable within one year | 40/41 | €239,933 | €212,640 | -€27,293 | -11.4% |
| Trade receivables | 40 | €238,833 | €204,600 | -€34,233 | -14.3% |
| Other amounts receivable | 41 | €1,100 | €8,040 | +€6,940 | +631.1% |
| Current investments | 50/53 | €140,000 | - | -€140,000 | |
| Cash at bank and in hand | 54/58 | €341,747 | €239,613 | -€102,134 | -29.9% |
| Deferred charges and accrued income | 490/1 | €761 | €694 | -€67 | -8.8% |
| Total equity and liabilities | 10/49 | €3,197,314 | €1,365,672 | -€1.8m | -57.3% |
| Equity | 10/15 | €2,092,945 | €1,187,118 | -€905,827 | -43.3% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €2,084,885 | €1,179,058 | -€905,827 | -43.4% |
| Distributable reserves | 133 | €2,084,885 | €1,179,058 | -€905,827 | -43.4% |
| Amounts payable | 17/49 | €1,104,369 | €178,554 | -€925,815 | -83.8% |
| Amounts payable within one year | 42/48 | €1,104,369 | €178,482 | -€925,887 | -83.8% |
| Financial debts | 43 | €722,775 | - | -€722,775 | |
| Other loans | 439 | €722,775 | - | -€722,775 | |
| Trade debts | 44 | €5,162 | €19,572 | +€14,410 | +279.1% |
| Suppliers | 440/4 | €5,162 | €19,572 | +€14,410 | +279.1% |
| Taxes, remuneration and social security | 45 | €36,960 | €3,063 | -€33,897 | -91.7% |
| Taxes | 450/3 | €36,960 | - | -€36,960 | |
| Remuneration and social security | 454/9 | - | €3,063 | +€3,063 | |
| Other amounts payable | 47/48 | €339,472 | €155,848 | -€183,624 | -54.1% |
| Accrued charges and deferred income | 492/3 | - | €72 | +€72 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,576 | €2,773 | +€1,197 | +75.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €315,009 | €12,000 | -€303,009 | -96.2% |
| Other operating charges | 640/8 | €88 | €1,247 | +€1,159 | +1316.9% |
| Non-recurring operating charges | 66A | - | €53,062 | +€53,062 | |
| Gross operating margin | 9900 | €165,340 | €105,762 | -€59,578 | -36.0% |
| Operating profit (loss) | 9901 | -€151,334 | €36,681 | +€188,014 | |
| Financial income | 75/76B | €1,485,127 | €186,924 | -€1.3m | -87.4% |
| Recurring financial income | 75 | €1,485,127 | €186,924 | -€1.3m | -87.4% |
| Financial charges | 65/66B | €10,022 | €973,563 | +€963,541 | +9614.4% |
| Recurring financial charges | 65 | €10,022 | €654 | -€9,368 | -93.5% |
| Non-recurring financial charges | 66B | - | €972,909 | +€972,909 | |
| Profit (loss) for the period before taxes | 9903 | €1,323,772 | -€749,958 | -€2.1m | |
| Income taxes | 67/77 | €38,581 | €132 | -€38,449 | -99.7% |
| Profit (loss) for the period | 9904 | €1,285,191 | -€750,090 | -€2.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,285,191 | -€750,090 | -€2.0m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.