KAW: 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.
What changed
KAW
NACE 56.111, Full-service restaurants
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€12,681
2024 · €17,614-€30,295
Equity
€29,932
2024 · €42,614-€12,681
Cash
€42,270
2024 · €61,950-€19,681
Balance sheet total
€532,299
2024 · €594,109-€61,810
Largest movements
Assets
- Tangible fixed assets -€42,059
down €42,059 (-8.4%), from €500,220 to €458,162
- Cash -€19,681
down €19,681 (-31.8%), from €61,950 to €42,270
mainly Debts after one year (-€35,711) and Investment in fixed assets (net) (-€19,937)
Equity and liabilities
- Debts after one year -€35,711
down €35,711 (-10.9%), from €328,829 to €293,118
- Trade debts -€14,130
down €14,130 (-67.3%), from €21,010 to €6,880
- Profit (loss) carried forward -€12,681
down €12,681 (-72.0%), from €17,614 to €4,932
- Accrued charges and deferred income +€7,832
new in 2025: €7,832
Income statement
- Staff costs +€17,566
up €17,566 (+9.1%), from €192,921 to €210,488
- Depreciation +€13,974
up €13,974 (+29.1%), from €48,022 to €61,996
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.
Result 2024
€17,614
Gross operating margin
-€887
Staff costs
-€17,566
Depreciation
-€13,974
Other operating charges
+€633
Other operating items
-€1,332
Financial income
-€190
Financial charges
+€1,944
Taxes
+€1,077
Result 2025
-€12,681
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.
From operations
+€34,539
Investment
-€19,937
Financing
-€34,283
Cash 2024
€61,950
From operations (derived)
+€34,539
Net result for the year
-€12,681
Depreciation
+€61,996
Stocks and contracts
-€3,243
Receivables within one year
+€2,431
Deferred charges and accrued income
+€883
Trade debts
-€14,130
Tax, wage and social debts
+€2,169
Advances received
-€4,895
Other debts
-€5,822
Accrued charges and deferred income
+€7,832
Investment (derived)
-€19,937
Investment in fixed assets (net)
-€19,937
Financing
-€34,283
Debts after one year
-€35,711
Current portion of long-term debt
+€1,428
Cash 2025
€42,270
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €594,109 | €532,299 | -€61,810 | -10.4% |
| Fixed assets | 21/28 | €500,220 | €458,162 | -€42,059 | -8.4% |
| Tangible fixed assets | 22/27 | €500,220 | €458,162 | -€42,059 | -8.4% |
| Land and buildings | 22 | €335,914 | €321,460 | -€14,453 | -4.3% |
| Plant, machinery and equipment | 23 | €89,383 | €75,512 | -€13,871 | -15.5% |
| Furniture and vehicles | 24 | €74,924 | €61,189 | -€13,734 | -18.3% |
| Current assets | 29/58 | €93,889 | €74,138 | -€19,751 | -21.0% |
| Stocks and contracts in progress | 3 | €14,180 | €17,423 | +€3,243 | +22.9% |
| Stocks | 30/36 | €14,180 | €17,423 | +€3,243 | +22.9% |
| Amounts receivable within one year | 40/41 | €14,743 | €12,312 | -€2,431 | -16.5% |
| Trade receivables | 40 | €2,133 | €7,719 | +€5,586 | +261.9% |
| Other amounts receivable | 41 | €12,610 | €4,593 | -€8,017 | -63.6% |
| Cash at bank and in hand | 54/58 | €61,950 | €42,270 | -€19,681 | -31.8% |
| Deferred charges and accrued income | 490/1 | €3,016 | €2,133 | -€883 | -29.3% |
| Total equity and liabilities | 10/49 | €594,109 | €532,299 | -€61,810 | -10.4% |
| Equity | 10/15 | €42,614 | €29,932 | -€12,681 | -29.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,614 | €4,932 | -€12,681 | -72.0% |
| Amounts payable | 17/49 | €551,496 | €502,367 | -€49,129 | -8.9% |
| Amounts payable after more than one year | 17 | €328,829 | €293,118 | -€35,711 | -10.9% |
| Financial debts | 170/4 | €328,829 | €293,118 | -€35,711 | -10.9% |
| Amounts payable within one year | 42/48 | €222,666 | €201,417 | -€21,250 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €34,283 | €35,711 | +€1,428 | +4.2% |
| Trade debts | 44 | €21,010 | €6,880 | -€14,130 | -67.3% |
| Suppliers | 440/4 | €21,010 | €6,880 | -€14,130 | -67.3% |
| Advances received on contracts in progress | 46 | €4,895 | - | -€4,895 | |
| Taxes, remuneration and social security | 45 | €18,533 | €20,701 | +€2,169 | +11.7% |
| Taxes | 450/3 | €1,483 | €8,775 | +€7,291 | +491.5% |
| Remuneration and social security | 454/9 | €17,049 | €11,926 | -€5,123 | -30.0% |
| Other amounts payable | 47/48 | €143,947 | €138,124 | -€5,822 | -4.0% |
| Accrued charges and deferred income | 492/3 | - | €7,832 | +€7,832 | |
| Remuneration, social security and pensions | 62 | €192,921 | €210,488 | +€17,566 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,022 | €61,996 | +€13,974 | +29.1% |
| Other operating charges | 640/8 | €3,497 | €2,864 | -€633 | -18.1% |
| Non-recurring operating charges | 66A | - | €1,332 | +€1,332 | |
| Gross operating margin | 9900 | €283,331 | €282,444 | -€887 | -0.3% |
| Operating profit (loss) | 9901 | €38,891 | €5,766 | -€33,125 | -85.2% |
| Financial income | 75/76B | €191 | €0 | -€190 | -99.9% |
| Recurring financial income | 75 | €191 | €0 | -€190 | -99.9% |
| Financial charges | 65/66B | €19,985 | €18,040 | -€1,944 | -9.7% |
| Recurring financial charges | 65 | €19,985 | €18,040 | -€1,944 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €19,097 | -€12,275 | -€31,372 | |
| Income taxes | 67/77 | €1,483 | €407 | -€1,077 | -72.6% |
| Profit (loss) for the period | 9904 | €17,614 | -€12,681 | -€30,295 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,614 | -€12,681 | -€30,295 |
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 8 October 2026 via checked.be.