kayway: 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.
kayway
Largest movements
- Current investments +€70,000
new in 2025: €70,000
- Cash -€58,604
down €58,604 (-47.6%), from €123,023 to €64,419
mainly Contributions, distributions and other (-€118,810) and Current investments (-€70,000)
- Receivables within one year +€8,589
up €8,589 (+48.2%), from €17,829 to €26,418
of which Other amounts receivable: +€6,834
- Tangible fixed assets -€4,216
down €4,216 (-29.2%), from €14,451 to €10,235
of which Furniture and vehicles: -€3,561
- Deferred charges and accrued income -€1,855
down €1,855 (-81.3%), from €2,282 to €427
- Other debts +€85,054
up €85,054 (+505.2%), from €16,835 to €101,889
- Reserves -€80,861
down €80,861 (-66.9%), from €120,861 to €40,000
- Tax, wage and social debts +€9,675
up €9,675 (+75.1%), from €12,881 to €22,557
- Gross operating margin -€7,236
down €7,236 (-11.9%), from €61,006 to €53,771
- Taxes -€1,834
down €1,834 (-14.2%), from €12,961 to €11,127
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 | €157,585 | €171,498 | +€13,913 | +8.8% |
| Fixed assets | 21/28 | €14,451 | €10,235 | -€4,216 | -29.2% |
| Tangible fixed assets | 22/27 | €14,451 | €10,235 | -€4,216 | -29.2% |
| Plant, machinery and equipment | 23 | €872 | €217 | -€655 | -75.1% |
| Furniture and vehicles | 24 | €11,979 | €8,418 | -€3,561 | -29.7% |
| Other tangible fixed assets | 26 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €143,134 | €161,263 | +€18,129 | +12.7% |
| Amounts receivable within one year | 40/41 | €17,829 | €26,418 | +€8,589 | +48.2% |
| Trade receivables | 40 | €15,791 | €17,545 | +€1,755 | +11.1% |
| Other amounts receivable | 41 | €2,039 | €8,873 | +€6,834 | +335.2% |
| Current investments | 50/53 | - | €70,000 | +€70,000 | |
| Cash at bank and in hand | 54/58 | €123,023 | €64,419 | -€58,604 | -47.6% |
| Deferred charges and accrued income | 490/1 | €2,282 | €427 | -€1,855 | -81.3% |
| Total equity and liabilities | 10/49 | €157,585 | €171,498 | +€13,913 | +8.8% |
| Equity | 10/15 | €125,861 | €45,000 | -€80,861 | -64.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €120,861 | €40,000 | -€80,861 | -66.9% |
| Distributable reserves | 133 | €120,861 | €40,000 | -€80,861 | -66.9% |
| Amounts payable | 17/49 | €31,724 | €126,498 | +€94,774 | +298.7% |
| Amounts payable within one year | 42/48 | €31,724 | €126,498 | +€94,774 | +298.7% |
| Trade debts | 44 | €2,008 | €2,053 | +€45 | +2.2% |
| Suppliers | 440/4 | €2,008 | €2,053 | +€45 | +2.2% |
| Taxes, remuneration and social security | 45 | €12,881 | €22,557 | +€9,675 | +75.1% |
| Taxes | 450/3 | €12,881 | €22,557 | +€9,675 | +75.1% |
| Other amounts payable | 47/48 | €16,835 | €101,889 | +€85,054 | +505.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,519 | €4,216 | -€303 | -6.7% |
| Other operating charges | 640/8 | €375 | €422 | +€47 | +12.5% |
| Non-recurring operating charges | 66A | €516 | - | -€516 | |
| Gross operating margin | 9900 | €61,006 | €53,771 | -€7,236 | -11.9% |
| Operating profit (loss) | 9901 | €55,597 | €49,133 | -€6,464 | -11.6% |
| Financial charges | 65/66B | €50 | €57 | +€7 | +14.8% |
| Recurring financial charges | 65 | €50 | €57 | +€7 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €55,547 | €49,076 | -€6,471 | -11.6% |
| Income taxes | 67/77 | €12,961 | €11,127 | -€1,834 | -14.2% |
| Profit (loss) for the period | 9904 | €42,585 | €37,948 | -€4,637 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,585 | €37,948 | -€4,637 | -10.9% |
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 8 October 2026 via checked.be.