KAWEMO: 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
KAWEMO
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€49,838
2024 · €72,550-€22,712
Equity
€3.4m
2024 · €3.6m-€170,162
Cash
€15,829
2024 · €53,909-€38,080
Balance sheet total
€7.1m
2024 · €7.3m-€287,772
Largest movements
Assets
- Tangible fixed assets -€267,092
down €267,092 (-4.5%), from €5.9m to €5.6m
of which Land and buildings: -€269,213
Equity and liabilities
- Debts after one year -€353,333
down €353,333 (-11.8%), from €3.0m to €2.6m
- Other debts +€270,000
new in 2025: €270,000
- Reserves -€106,465
down €106,465 (-7.3%), from €1.5m to €1.4m
of which Tax-exempt reserves: -€106,465
Income statement
- Depreciation +€59,330
up €59,330 (+14.1%), from €421,360 to €480,689
- Taxes -€19,653
down €19,653 (-34.5%), from €57,030 to €37,377
- Gross operating margin +€18,099
up €18,099 (+3.0%), from €611,046 to €629,145
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
€72,550
Gross operating margin
+€18,099
Depreciation
-€59,330
Other operating charges
-€1,017
Financial income
-€3,494
Financial charges
+€3,376
Taxes
+€19,653
Result 2025
€49,838
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
+€748,851
Investment
-€213,598
Financing
-€573,333
Cash 2024
€53,909
From operations (derived)
+€748,851
Net result for the year
+€49,838
Depreciation
+€480,689
Receivables within one year
-€9,511
Deferred charges and accrued income
-€7,889
Provisions
-€35,488
Trade debts
+€2,231
Tax, wage and social debts
-€1,018
Other debts
+€270,000
Investment (derived)
-€213,598
Investment in fixed assets (net)
-€213,598
Financing
-€573,333
Debts after one year
-€353,333
Current portion of long-term debt
-€0
Contributions, distributions and other
-€220,000
Cash 2025
€15,829
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,346,839 | €7,059,067 | -€287,772 | -3.9% |
| Fixed assets | 21/28 | €6,460,186 | €6,193,094 | -€267,092 | -4.1% |
| Tangible fixed assets | 22/27 | €5,910,186 | €5,643,094 | -€267,092 | -4.5% |
| Land and buildings | 22 | €5,907,737 | €5,638,524 | -€269,213 | -4.6% |
| Furniture and vehicles | 24 | €2,449 | €4,570 | +€2,121 | +86.6% |
| Financial fixed assets | 28 | €550,000 | €550,000 | = | 0.0% |
| Current assets | 29/58 | €886,652 | €865,972 | -€20,680 | -2.3% |
| Amounts receivable within one year | 40/41 | €829,807 | €839,318 | +€9,511 | +1.1% |
| Other amounts receivable | 41 | €829,807 | €839,318 | +€9,511 | +1.1% |
| Cash at bank and in hand | 54/58 | €53,909 | €15,829 | -€38,080 | -70.6% |
| Deferred charges and accrued income | 490/1 | €2,936 | €10,825 | +€7,889 | +268.7% |
| Total equity and liabilities | 10/49 | €7,346,839 | €7,059,067 | -€287,772 | -3.9% |
| Equity | 10/15 | €3,571,848 | €3,401,686 | -€170,162 | -4.8% |
| Contributions | 10/11 | €1,053,925 | €1,053,925 | = | 0.0% |
| Reserves | 13 | €1,461,845 | €1,355,380 | -€106,465 | -7.3% |
| Tax-exempt reserves | 132 | €1,456,770 | €1,350,305 | -€106,465 | -7.3% |
| Distributable reserves | 133 | €5,075 | €5,075 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,056,078 | €992,381 | -€63,697 | -6.0% |
| Provisions and deferred taxes | 16 | €485,590 | €450,102 | -€35,488 | -7.3% |
| Deferred taxes | 168 | €485,590 | €450,102 | -€35,488 | -7.3% |
| Amounts payable | 17/49 | €3,289,400 | €3,207,279 | -€82,121 | -2.5% |
| Amounts payable after more than one year | 17 | €2,988,552 | €2,635,219 | -€353,333 | -11.8% |
| Financial debts | 170/4 | €2,988,552 | €2,635,219 | -€353,333 | -11.8% |
| Amounts payable within one year | 42/48 | €300,848 | €572,061 | +€271,212 | +90.1% |
| Current portion of amounts payable after more than one year | 42 | €293,333 | €293,333 | -€0 | 0.0% |
| Trade debts | 44 | €6,497 | €8,727 | +€2,231 | +34.3% |
| Suppliers | 440/4 | €6,497 | €8,727 | +€2,231 | +34.3% |
| Taxes, remuneration and social security | 45 | €1,018 | - | -€1,018 | |
| Taxes | 450/3 | €1,018 | - | -€1,018 | |
| Other amounts payable | 47/48 | - | €270,000 | +€270,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €421,360 | €480,689 | +€59,330 | +14.1% |
| Other operating charges | 640/8 | €66,213 | €67,230 | +€1,017 | +1.5% |
| Gross operating margin | 9900 | €611,046 | €629,145 | +€18,099 | +3.0% |
| Operating profit (loss) | 9901 | €123,473 | €81,225 | -€42,247 | -34.2% |
| Financial income | 75/76B | €3,548 | €54 | -€3,494 | -98.5% |
| Recurring financial income | 75 | €3,548 | €54 | -€3,494 | -98.5% |
| Financial charges | 65/66B | €32,928 | €29,553 | -€3,376 | -10.3% |
| Recurring financial charges | 65 | €32,928 | €29,553 | -€3,376 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €94,092 | €51,727 | -€42,365 | -45.0% |
| Transfer from deferred taxes | 780 | €35,488 | €35,488 | = | 0.0% |
| Income taxes | 67/77 | €57,030 | €37,377 | -€19,653 | -34.5% |
| Profit (loss) for the period | 9904 | €72,550 | €49,838 | -€22,712 | -31.3% |
| Transfer from tax-exempt reserves | 789 | €106,465 | €106,465 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €179,015 | €156,303 | -€22,712 | -12.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.