KAYIKCI: 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.
KAYIKCI
Largest movements
- Current investments +€277,000
new in 2025: €277,000
- Tangible fixed assets +€176,844
up €176,844 (+1,386%), from €12,756 to €189,600
of which Assets under construction and advance payments: +€179,200
- Receivables within one year -€65,635
down €65,635 (-83.6%), from €78,489 to €12,854
of which Other amounts receivable: -€54,427
- Cash -€59,232
down €59,232 (-79.7%), from €74,315 to €15,083
mainly Current investments (-€277,000) and Investment in fixed assets (net) (-€172,766)
- Financial fixed assets -€8,000
down €8,000 (-95.8%), from €8,353 to €353
- Other debts +€311,397
new in 2025: €311,397
- Reserves +€13,580
up €13,580 (+10.0%), from €135,750 to €149,330
- Gross operating margin -€29,356
down €29,356 (-41.3%), from €71,050 to €41,695
- Staff costs -€16,938
down €16,938 (-68.0%), from €24,923 to €7,984
- Financial charges +€5,769
up €5,769 (+6,113%), from €94 to €5,863
- Taxes -€5,238
down €5,238 (-35.1%), from €14,930 to €9,692
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.
Derived cash bridge
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 | €174,220 | €496,413 | +€322,193 | +185% |
| Fixed assets | 21/28 | €21,109 | €189,953 | +€168,844 | +800% |
| Tangible fixed assets | 22/27 | €12,756 | €189,600 | +€176,844 | +1,386% |
| Land and buildings | 22 | €11,340 | €8,505 | -€2,835 | -25.0% |
| Plant, machinery and equipment | 23 | €1,024 | €575 | -€449 | -43.9% |
| Furniture and vehicles | 24 | €392 | €1,321 | +€928 | +236% |
| Assets under construction and advance payments | 27 | - | €179,200 | +€179,200 | |
| Financial fixed assets | 28 | €8,353 | €353 | -€8,000 | -95.8% |
| Current assets | 29/58 | €153,111 | €306,460 | +€153,349 | +100% |
| Amounts receivable within one year | 40/41 | €78,489 | €12,854 | -€65,635 | -83.6% |
| Trade receivables | 40 | €17,023 | €5,815 | -€11,207 | -65.8% |
| Other amounts receivable | 41 | €61,466 | €7,039 | -€54,427 | -88.5% |
| Current investments | 50/53 | - | €277,000 | +€277,000 | |
| Cash at bank and in hand | 54/58 | €74,315 | €15,083 | -€59,232 | -79.7% |
| Deferred charges and accrued income | 490/1 | €307 | €1,523 | +€1,216 | +396% |
| Total equity and liabilities | 10/49 | €174,220 | €496,413 | +€322,193 | +185% |
| Equity | 10/15 | €166,735 | €180,320 | +€13,585 | +8.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €135,750 | €149,330 | +€13,580 | +10.0% |
| Distributable reserves | 133 | €135,750 | €149,330 | +€13,580 | +10.0% |
| Profit (loss) carried forward | 14 | €28,985 | €28,990 | +€5 | 0.0% |
| Amounts payable | 17/49 | €7,485 | €316,093 | +€308,608 | +4,123% |
| Amounts payable within one year | 42/48 | €7,485 | €316,093 | +€308,608 | +4,123% |
| Trade debts | 44 | €1,946 | €1,363 | -€583 | -29.9% |
| Suppliers | 440/4 | €1,946 | €1,363 | -€583 | -29.9% |
| Taxes, remuneration and social security | 45 | €5,539 | €3,333 | -€2,206 | -39.8% |
| Taxes | 450/3 | €2,753 | €2,000 | -€753 | -27.4% |
| Remuneration and social security | 454/9 | €2,786 | €1,333 | -€1,453 | -52.2% |
| Other amounts payable | 47/48 | - | €311,397 | +€311,397 | |
| Remuneration, social security and pensions | 62 | €24,923 | €7,984 | -€16,938 | -68.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,154 | €3,922 | -€232 | -5.6% |
| Other operating charges | 640/8 | €1,338 | €1,930 | +€592 | +44.3% |
| Gross operating margin | 9900 | €71,050 | €41,695 | -€29,356 | -41.3% |
| Operating profit (loss) | 9901 | €40,636 | €27,858 | -€12,778 | -31.4% |
| Financial income | 75/76B | €591 | €1,282 | +€691 | +117% |
| Recurring financial income | 75 | €591 | €1,282 | +€691 | +117% |
| Financial charges | 65/66B | €94 | €5,863 | +€5,769 | +6,113% |
| Recurring financial charges | 65 | €94 | €5,863 | +€5,769 | +6,113% |
| Profit (loss) for the period before taxes | 9903 | €41,132 | €23,277 | -€17,855 | -43.4% |
| Income taxes | 67/77 | €14,930 | €9,692 | -€5,238 | -35.1% |
| Profit (loss) for the period | 9904 | €26,202 | €13,585 | -€12,617 | -48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,202 | €13,585 | -€12,617 | -48.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.