KATHALYS: 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.
KATHALYS
Largest movements
- Receivables within one year +€73,795
up €73,795 (+33.2%), from €222,203 to €295,999
of which Trade receivables: +€73,800
- Cash +€54,814
up €54,814 (+719%), from €7,626 to €62,440
mainly Debts after one year (+€101,460) and Net result for the year (+€68,242)
- Tangible fixed assets -€12,956
down €12,956 (-11.7%), from €111,154 to €98,198
of which Land and buildings: -€9,177
- Debts after one year +€101,460
up €101,460 (+102%), from €99,045 to €200,505
- Reserves +€68,242
up €68,242 (+70.3%), from €97,086 to €165,327
of which Distributable reserves: +€68,242
- Other debts -€51,062
no longer reported in 2025 (was €51,062)
- Gross operating margin -€16,726
down €16,726 (-12.1%), from €137,891 to €121,165
- Taxes +€9,946
up €9,946 (+41.5%), from €23,957 to €33,903
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 | €341,096 | €456,812 | +€115,717 | +33.9% |
| Fixed assets | 21/28 | €111,154 | €98,198 | -€12,956 | -11.7% |
| Tangible fixed assets | 22/27 | €111,154 | €98,198 | -€12,956 | -11.7% |
| Land and buildings | 22 | €99,355 | €90,177 | -€9,177 | -9.2% |
| Plant, machinery and equipment | 23 | €4,291 | €2,998 | -€1,293 | -30.1% |
| Furniture and vehicles | 24 | €6,090 | €3,834 | -€2,255 | -37.0% |
| Other tangible fixed assets | 26 | €1,418 | €1,188 | -€230 | -16.2% |
| Current assets | 29/58 | €229,942 | €358,614 | +€128,672 | +56.0% |
| Amounts receivable within one year | 40/41 | €222,203 | €295,999 | +€73,795 | +33.2% |
| Trade receivables | 40 | €222,198 | €295,999 | +€73,800 | +33.2% |
| Other amounts receivable | 41 | €5 | - | -€5 | |
| Cash at bank and in hand | 54/58 | €7,626 | €62,440 | +€54,814 | +719% |
| Deferred charges and accrued income | 490/1 | €113 | €176 | +€63 | +55.8% |
| Total equity and liabilities | 10/49 | €341,096 | €456,812 | +€115,717 | +33.9% |
| Equity | 10/15 | €115,686 | €183,927 | +€68,242 | +59.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €97,086 | €165,327 | +€68,242 | +70.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €95,226 | €163,467 | +€68,242 | +71.7% |
| Amounts payable | 17/49 | €225,410 | €272,885 | +€47,475 | +21.1% |
| Amounts payable after more than one year | 17 | €99,045 | €200,505 | +€101,460 | +102% |
| Financial debts | 170/4 | €99,045 | €200,505 | +€101,460 | +102% |
| Amounts payable within one year | 42/48 | €126,365 | €72,380 | -€53,985 | -42.7% |
| Current portion of amounts payable after more than one year | 42 | €13,622 | €13,971 | +€349 | +2.6% |
| Trade debts | 44 | €22,125 | €20,733 | -€1,391 | -6.3% |
| Suppliers | 440/4 | €22,125 | €20,733 | -€1,391 | -6.3% |
| Taxes, remuneration and social security | 45 | €39,556 | €37,675 | -€1,881 | -4.8% |
| Taxes | 450/3 | €39,556 | €37,675 | -€1,881 | -4.8% |
| Other amounts payable | 47/48 | €51,062 | - | -€51,062 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,902 | €15,529 | +€628 | +4.2% |
| Other operating charges | 640/8 | €514 | €551 | +€38 | +7.3% |
| Gross operating margin | 9900 | €137,891 | €121,165 | -€16,726 | -12.1% |
| Operating profit (loss) | 9901 | €122,476 | €105,085 | -€17,391 | -14.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €4,244 | €2,939 | -€1,305 | -30.7% |
| Recurring financial charges | 65 | €4,244 | €2,939 | -€1,305 | -30.7% |
| Profit (loss) for the period before taxes | 9903 | €118,232 | €102,145 | -€16,086 | -13.6% |
| Income taxes | 67/77 | €23,957 | €33,903 | +€9,946 | +41.5% |
| Profit (loss) for the period | 9904 | €94,274 | €68,242 | -€26,032 | -27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €94,274 | €68,242 | -€26,032 | -27.6% |
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 24 October 2026 via checked.be.