KAUFFMANN Eddy: 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.
KAUFFMANN Eddy
Largest movements
- Cash -€24,892
down €24,892 (-14.6%), from €170,705 to €145,813
mainly Receivables within one year (-€21,761) and Stocks and contracts (-€8,321)
- Receivables within one year +€21,761
up €21,761 (+77.3%), from €28,133 to €49,894
of which Trade receivables: +€22,923
- Tangible fixed assets -€12,380
down €12,380 (-28.6%), from €43,345 to €30,965
- Stocks and contracts +€8,321
up €8,321 (+79.7%), from €10,439 to €18,760
- Trade debts +€11,846
up €11,846 (+86.8%), from €13,641 to €25,487
- Other debts -€8,073
no longer reported in 2025 (was €8,073)
- Tax, wage and social debts -€3,666
no longer reported in 2025 (was €3,666)
- Reserves -€3,181
down €3,181 (-1.8%), from €175,815 to €172,634
of which Distributable reserves: -€3,181
- Debts after one year -€2,949
down €2,949 (-9.6%), from €30,698 to €27,749
of which Financial debts: -€3,052
- Gross operating margin +€10,032
up €10,032 (+27.8%), from €36,030 to €46,062
- Staff costs -€2,443
down €2,443 (-39.4%), from €6,197 to €3,755
- Taxes -€965
down €965 (-88.2%), from €1,094 to €129
- Other operating charges -€836
down €836 (-23.4%), from €3,565 to €2,729
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 | €253,410 | €247,522 | -€5,888 | -2.3% |
| Fixed assets | 21/28 | €43,345 | €30,965 | -€12,380 | -28.6% |
| Tangible fixed assets | 22/27 | €43,345 | €30,965 | -€12,380 | -28.6% |
| Land and buildings | 22 | €21,098 | €16,662 | -€4,436 | -21.0% |
| Plant, machinery and equipment | 23 | €14,680 | €11,139 | -€3,541 | -24.1% |
| Furniture and vehicles | 24 | €7,567 | €3,163 | -€4,403 | -58.2% |
| Current assets | 29/58 | €210,065 | €216,557 | +€6,492 | +3.1% |
| Stocks and contracts in progress | 3 | €10,439 | €18,760 | +€8,321 | +79.7% |
| Contracts in progress | 37 | €10,439 | €18,760 | +€8,321 | +79.7% |
| Amounts receivable within one year | 40/41 | €28,133 | €49,894 | +€21,761 | +77.3% |
| Trade receivables | 40 | €24,382 | €47,305 | +€22,923 | +94.0% |
| Other amounts receivable | 41 | €3,751 | €2,589 | -€1,162 | -31.0% |
| Cash at bank and in hand | 54/58 | €170,705 | €145,813 | -€24,892 | -14.6% |
| Deferred charges and accrued income | 490/1 | €788 | €2,091 | +€1,303 | +165.4% |
| Total equity and liabilities | 10/49 | €253,410 | €247,522 | -€5,888 | -2.3% |
| Equity | 10/15 | €194,415 | €191,234 | -€3,181 | -1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €175,815 | €172,634 | -€3,181 | -1.8% |
| Tax-exempt reserves | 132 | €6,370 | €6,370 | = | 0.0% |
| Distributable reserves | 133 | €169,445 | €166,264 | -€3,181 | -1.9% |
| Amounts payable | 17/49 | €58,995 | €56,288 | -€2,707 | -4.6% |
| Amounts payable after more than one year | 17 | €30,698 | €27,749 | -€2,949 | -9.6% |
| Financial debts | 170/4 | €17,988 | €14,936 | -€3,052 | -17.0% |
| Other amounts payable | 178/9 | €12,710 | €12,813 | +€103 | +0.8% |
| Amounts payable within one year | 42/48 | €28,297 | €28,539 | +€242 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €2,917 | €3,052 | +€135 | +4.6% |
| Trade debts | 44 | €13,641 | €25,487 | +€11,846 | +86.8% |
| Suppliers | 440/4 | €13,641 | €25,487 | +€11,846 | +86.8% |
| Taxes, remuneration and social security | 45 | €3,666 | - | -€3,666 | |
| Taxes | 450/3 | €3,666 | - | -€3,666 | |
| Other amounts payable | 47/48 | €8,073 | - | -€8,073 | |
| Non-recurring operating income | 76A | €19,739 | - | -€19,739 | |
| Remuneration, social security and pensions | 62 | €6,197 | €3,755 | -€2,443 | -39.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,400 | €13,677 | +€277 | +2.1% |
| Other operating charges | 640/8 | €3,565 | €2,729 | -€836 | -23.4% |
| Non-recurring operating charges | 66A | - | €24,684 | +€24,684 | |
| Gross operating margin | 9900 | €36,030 | €46,062 | +€10,032 | +27.8% |
| Operating profit (loss) | 9901 | €12,868 | €1,217 | -€11,651 | -90.5% |
| Financial income | 75/76B | €59 | €110 | +€51 | +87.4% |
| Recurring financial income | 75 | €59 | €110 | +€51 | +87.4% |
| Financial charges | 65/66B | €4,472 | €4,379 | -€93 | -2.1% |
| Recurring financial charges | 65 | €4,472 | €4,379 | -€93 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €8,455 | -€3,052 | -€11,506 | |
| Income taxes | 67/77 | €1,094 | €129 | -€965 | -88.2% |
| Profit (loss) for the period | 9904 | €7,360 | -€3,181 | -€10,541 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,360 | -€3,181 | -€10,541 |
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 10 October 2026 via checked.be.