kawn alliance: what changed
kawn alliance
Largest movements
- Tangible fixed assets +€47,192
up €47,192 (+20,478%), from €230 to €47,422
of which Furniture and vehicles: +€47,369
- Receivables after one year -€34,500
down €34,500 (-26.5%), from €130,193 to €95,693
- Receivables within one year -€9,051
down €9,051 (-29.1%), from €31,140 to €22,089
of which Other amounts receivable: -€11,500
- Cash -€6,686
down €6,686 (-23.1%), from €28,975 to €22,289
mainly Contributions, distributions and other (-€59,000) and Investment in fixed assets (net) (-€49,314)
- Reserves -€34,252
down €34,252 (-48.7%), from €70,265 to €36,013
- Debts after one year +€22,804
new in 2025: €22,804
- Accrued charges and deferred income -€12,100
down €12,100 (-46.5%), from €26,000 to €13,900
- Current portion of long-term debt +€9,991
new in 2025: €9,991
- Other debts +€9,000
new in 2025: €9,000
- Gross operating margin +€17,370
up €17,370 (+86.1%), from €20,170 to €37,540
- Taxes +€6,362
up €6,362 (+95.1%), from €6,689 to €13,051
- Depreciation +€1,946
up €1,946 (+1,101%), from €177 to €2,122
- Financial income +€1,790
up €1,790 (+117%), from €1,524 to €3,314
- Other operating charges -€426
down €426 (-51.6%), from €826 to €400
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €190,538 | €187,494 | -€3,045 | -1.6% |
| Fixed assets | 21/28 | €230 | €47,422 | +€47,192 | +20,478% |
| Tangible fixed assets | 22/27 | €230 | €47,422 | +€47,192 | +20,478% |
| Plant, machinery and equipment | 23 | €230 | €54 | -€177 | -76.7% |
| Furniture and vehicles | 24 | - | €47,369 | +€47,369 | |
| Current assets | 29/58 | €190,308 | €140,071 | -€50,236 | -26.4% |
| Amounts receivable after more than one year | 29 | €130,193 | €95,693 | -€34,500 | -26.5% |
| Other amounts receivable | 291 | €130,193 | €95,693 | -€34,500 | -26.5% |
| Amounts receivable within one year | 40/41 | €31,140 | €22,089 | -€9,051 | -29.1% |
| Trade receivables | 40 | €13,371 | €15,820 | +€2,450 | +18.3% |
| Other amounts receivable | 41 | €17,770 | €6,269 | -€11,500 | -64.7% |
| Cash at bank and in hand | 54/58 | €28,975 | €22,289 | -€6,686 | -23.1% |
| Total equity and liabilities | 10/49 | €190,538 | €187,494 | -€3,045 | -1.6% |
| Equity | 10/15 | €148,073 | €113,820 | -€34,252 | -23.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €70,265 | €36,013 | -€34,252 | -48.7% |
| Distributable reserves | 133 | €70,265 | €36,013 | -€34,252 | -48.7% |
| Profit (loss) carried forward | 14 | €75,307 | €75,307 | = | 0.0% |
| Amounts payable | 17/49 | €42,466 | €73,673 | +€31,208 | +73.5% |
| Amounts payable after more than one year | 17 | - | €22,804 | +€22,804 | |
| Financial debts | 170/4 | - | €22,804 | +€22,804 | |
| Amounts payable within one year | 42/48 | €16,466 | €36,969 | +€20,504 | +125% |
| Current portion of amounts payable after more than one year | 42 | - | €9,991 | +€9,991 | |
| Trade debts | 44 | €2,099 | €3,874 | +€1,775 | +84.5% |
| Suppliers | 440/4 | €2,099 | €3,874 | +€1,775 | +84.5% |
| Taxes, remuneration and social security | 45 | €14,367 | €14,105 | -€261 | -1.8% |
| Taxes | 450/3 | €14,367 | €14,105 | -€261 | -1.8% |
| Other amounts payable | 47/48 | - | €9,000 | +€9,000 | |
| Accrued charges and deferred income | 492/3 | €26,000 | €13,900 | -€12,100 | -46.5% |
| Non-recurring operating income | 76A | - | €13,000 | +€13,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €177 | €2,122 | +€1,946 | +1,101% |
| Other operating charges | 640/8 | €826 | €400 | -€426 | -51.6% |
| Gross operating margin | 9900 | €20,170 | €37,540 | +€17,370 | +86.1% |
| Operating profit (loss) | 9901 | €19,168 | €35,018 | +€15,850 | +82.7% |
| Financial income | 75/76B | €1,524 | €3,314 | +€1,790 | +117% |
| Recurring financial income | 75 | €1,524 | €3,314 | +€1,790 | +117% |
| Financial charges | 65/66B | €264 | €534 | +€270 | +102% |
| Recurring financial charges | 65 | €264 | €534 | +€270 | +102% |
| Profit (loss) for the period before taxes | 9903 | €20,428 | €37,799 | +€17,371 | +85.0% |
| Income taxes | 67/77 | €6,689 | €13,051 | +€6,362 | +95.1% |
| Profit (loss) for the period | 9904 | €13,739 | €24,748 | +€11,009 | +80.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,739 | €24,748 | +€11,009 | +80.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.