KAY: 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.
What changed
KAY
NACE 46.442, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.4m
2024 · €2.9m-€546,946
Equity
€8.2m
2024 · €9.9m-€1.6m
Cash
-
not filed
Balance sheet total
€17.6m
2024 · €16.2m+€1.3m
Largest movements
Assets
- Receivables within one year +€2.3m
up €2.3m (+25.8%), from €8.8m to €11.1m
of which Other amounts receivable: +€2.8m
- Tangible fixed assets -€964,663
down €964,663 (-13.0%), from €7.4m to €6.4m
Equity and liabilities
- Other debts +€4.0m
new in 2025: €4.0m
- Profit (loss) carried forward -€1.6m
down €1.6m (-43.4%), from €3.7m to €2.1m
- Accrued charges and deferred income -€734,757
down €734,757 (-38.5%), from €1.9m to €1.2m
Income statement
- Turnover +€3.5m
up €3.5m (+4.8%), from €72.8m to €76.3m
- Goods and materials +€2.6m
up €2.6m (+5.0%), from €52.0m to €54.6m
- Services and other goods +€846,503
up €846,503 (+6.4%), from €13.1m to €14.0m
- Depreciation +€808,508
up €808,508 (+21.3%), from €3.8m to €4.6m
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
€2.9m
Turnover
+€3.5m
Goods and materials
-€2.6m
Services and other goods
-€846,503
Depreciation
-€808,508
Write-downs
-€18,645
Financial income
+€659,138
Financial charges
-€600,717
Taxes
+€181,039
Result 2025
€2.4m
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,243,963 | €17,555,164 | +€1.3m | +8.1% |
| Fixed assets | 21/28 | €7,393,109 | €6,428,446 | -€964,663 | -13.0% |
| Tangible fixed assets | 22/27 | €7,393,109 | €6,428,446 | -€964,663 | -13.0% |
| Other tangible fixed assets | 26 | €7,393,109 | €6,428,446 | -€964,663 | -13.0% |
| Current assets | 29/58 | €8,850,854 | €11,126,719 | +€2.3m | +25.7% |
| Amounts receivable within one year | 40/41 | €8,827,937 | €11,108,802 | +€2.3m | +25.8% |
| Trade receivables | 40 | €8,795,766 | €8,245,981 | -€549,785 | -6.3% |
| Other amounts receivable | 41 | €32,171 | €2,862,821 | +€2.8m | +8798.7% |
| Deferred charges and accrued income | 490/1 | €22,917 | €17,917 | -€5,000 | -21.8% |
| Total equity and liabilities | 10/49 | €16,243,963 | €17,555,164 | +€1.3m | +8.1% |
| Equity | 10/15 | €9,855,060 | €8,247,681 | -€1.6m | -16.3% |
| Contributions | 10/11 | €5,462,000 | €5,462,000 | = | 0.0% |
| Reserves | 13 | €689,509 | €689,509 | = | 0.0% |
| Non-distributable reserves | 130/1 | €689,509 | €689,509 | = | 0.0% |
| Reserves not available under the articles | 1311 | €689,509 | €689,509 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,703,551 | €2,096,172 | -€1.6m | -43.4% |
| Amounts payable | 17/49 | €6,388,903 | €9,307,484 | +€2.9m | +45.7% |
| Amounts payable within one year | 42/48 | €4,482,580 | €8,135,918 | +€3.7m | +81.5% |
| Financial debts | 43 | €35,123 | - | -€35,123 | |
| Other loans | 439 | €35,123 | - | -€35,123 | |
| Trade debts | 44 | €4,146,889 | €3,995,999 | -€150,890 | -3.6% |
| Suppliers | 440/4 | €4,146,889 | €3,995,999 | -€150,890 | -3.6% |
| Taxes, remuneration and social security | 45 | €300,569 | €139,919 | -€160,650 | -53.4% |
| Taxes | 450/3 | €300,569 | €139,919 | -€160,650 | -53.4% |
| Other amounts payable | 47/48 | - | €4,000,000 | +€4.0m | |
| Accrued charges and deferred income | 492/3 | €1,906,323 | €1,171,566 | -€734,757 | -38.5% |
| Operating income | 70/76A | €72,800,497 | €76,304,551 | +€3.5m | +4.8% |
| Turnover | 70 | €72,800,497 | €76,304,551 | +€3.5m | +4.8% |
| Operating charges | 60/66A | €68,920,069 | €73,210,529 | +€4.3m | +6.2% |
| Goods for resale, raw materials and consumables | 60 | €52,009,526 | €54,626,331 | +€2.6m | +5.0% |
| Purchases | 600/8 | €52,009,526 | €54,626,331 | +€2.6m | +5.0% |
| Services and other goods | 61 | €13,126,361 | €13,972,864 | +€846,503 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,799,510 | €4,608,018 | +€808,508 | +21.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€15,329 | €3,316 | +€18,645 | |
| Operating profit (loss) | 9901 | €3,880,429 | €3,094,021 | -€786,407 | -20.3% |
| Financial income | 75/76B | €220,807 | €879,946 | +€659,138 | +298.5% |
| Recurring financial income | 75 | €220,807 | €879,946 | +€659,138 | +298.5% |
| Income from current assets | 751 | €87,306 | €65,718 | -€21,587 | -24.7% |
| Other financial income | 752/9 | €133,502 | €814,228 | +€680,726 | +509.9% |
| Financial charges | 65/66B | €157,667 | €758,383 | +€600,717 | +381.0% |
| Recurring financial charges | 65 | €153,077 | €758,383 | +€605,307 | +395.4% |
| Other financial charges | 652/9 | €153,077 | €758,383 | +€605,307 | +395.4% |
| Non-recurring financial charges | 66B | €4,590 | - | -€4,590 | |
| Profit (loss) for the period before taxes | 9903 | €3,943,569 | €3,215,584 | -€727,985 | -18.5% |
| Income taxes | 67/77 | €1,004,002 | €822,963 | -€181,039 | -18.0% |
| Taxes | 670/3 | €1,004,002 | €822,963 | -€181,039 | -18.0% |
| Profit (loss) for the period | 9904 | €2,939,567 | €2,392,621 | -€546,946 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,939,567 | €2,392,621 | -€546,946 | -18.6% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.