KAY: 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.
KAY
Largest movements
- Cash -€43,592
down €43,592 (-87.2%), from €50,007 to €6,415
mainly Other debts (-€50,192) and Receivables within one year (-€10,598)
- Receivables within one year +€10,598
up €10,598 (+429.1%), from €2,470 to €13,068
of which Other amounts receivable: +€12,032
- Tangible fixed assets -€1,755
down €1,755 (-26.2%), from €6,712 to €4,957
of which Plant, machinery and equipment: -€1,449
- Other debts -€50,192
no longer reported in 2025 (was €50,192)
- Profit (loss) carried forward +€15,298
up €15,298, from -€12,305 to €2,994
- Tax, wage and social debts +€1,947
up €1,947 (+483.8%), from €402 to €2,349
- Trade debts -€1,803
down €1,803 (-78.4%), from €2,300 to €497
- Gross operating margin -€1,719
down €1,719 (-8.5%), from €20,112 to €18,393
- Taxes +€828
new in 2025: €828
- Depreciation -€462
down €462 (-20.8%), from €2,218 to €1,755
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 | €59,190 | €24,440 | -€34,750 | -58.7% |
| Fixed assets | 21/28 | €6,712 | €4,957 | -€1,755 | -26.2% |
| Tangible fixed assets | 22/27 | €6,712 | €4,957 | -€1,755 | -26.2% |
| Plant, machinery and equipment | 23 | €4,643 | €3,194 | -€1,449 | -31.2% |
| Other tangible fixed assets | 26 | €2,070 | €1,763 | -€307 | -14.8% |
| Current assets | 29/58 | €52,477 | €19,483 | -€32,995 | -62.9% |
| Amounts receivable within one year | 40/41 | €2,470 | €13,068 | +€10,598 | +429.1% |
| Trade receivables | 40 | €2,470 | €1,036 | -€1,434 | -58.1% |
| Other amounts receivable | 41 | - | €12,032 | +€12,032 | |
| Cash at bank and in hand | 54/58 | €50,007 | €6,415 | -€43,592 | -87.2% |
| Total equity and liabilities | 10/49 | €59,190 | €24,440 | -€34,750 | -58.7% |
| Equity | 10/15 | €6,295 | €21,594 | +€15,298 | +243.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,305 | €2,994 | +€15,298 | |
| Amounts payable | 17/49 | €52,894 | €2,846 | -€50,048 | -94.6% |
| Amounts payable within one year | 42/48 | €52,894 | €2,846 | -€50,048 | -94.6% |
| Trade debts | 44 | €2,300 | €497 | -€1,803 | -78.4% |
| Suppliers | 440/4 | €2,300 | €497 | -€1,803 | -78.4% |
| Taxes, remuneration and social security | 45 | €402 | €2,349 | +€1,947 | +483.8% |
| Taxes | 450/3 | €402 | €2,349 | +€1,947 | +483.8% |
| Other amounts payable | 47/48 | €50,192 | - | -€50,192 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,218 | €1,755 | -€462 | -20.8% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €20,112 | €18,393 | -€1,719 | -8.5% |
| Operating profit (loss) | 9901 | €17,389 | €16,118 | -€1,272 | -7.3% |
| Financial income | 75/76B | €0 | €0 | +€0 | +500.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +500.0% |
| Financial charges | 65/66B | €51 | -€9 | -€60 | |
| Recurring financial charges | 65 | €51 | -€9 | -€60 | |
| Profit (loss) for the period before taxes | 9903 | €17,338 | €16,127 | -€1,212 | -7.0% |
| Income taxes | 67/77 | - | €828 | +€828 | |
| Profit (loss) for the period | 9904 | €17,338 | €15,298 | -€2,040 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,338 | €15,298 | -€2,040 | -11.8% |
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 4 October 2026 via checked.be.