KAZO: 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.
KAZO
Largest movements
- Receivables within one year +€2.0m
up €2.0m (+334079.3%), from €598 to €2.0m
of which Other amounts receivable: +€1.7m
- Tangible fixed assets +€438,486
new in 2026: €438,486
of which Other tangible fixed assets: +€270,011
- Cash +€264,650
new in 2026: €264,650
mainly Trade debts (+€952,049) and Tax, wage and social debts (+€720,866)
- Profit (loss) carried forward +€1.1m
up €1.1m, from -€279,674 to €836,905
- Trade debts +€952,049
new in 2026: €952,049
- Tax, wage and social debts +€720,866
new in 2026: €720,866
of which Taxes: +€533,684
- Other debts -€100,058
no longer reported in 2026 (was €100,058)
- Gross operating margin +€2.2m
up €2.2m, from -€805 to €2.2m
- Staff costs +€1.2m
new in 2026: €1.2m
- Depreciation +€229,866
new in 2026: €229,866
- Other operating charges +€195,577
up €195,577 (+7773.3%), from €2,516 to €198,093
- Taxes +€22,813
new in 2026: €22,813
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,135 | €2,705,950 | +€2.7m | +238309.7% |
| Fixed assets | 21/28 | €537 | €441,938 | +€441,401 | +82197.6% |
| Intangible fixed assets | 21 | - | €3,452 | +€3,452 | |
| Tangible fixed assets | 22/27 | - | €438,486 | +€438,486 | |
| Plant, machinery and equipment | 23 | - | €154,971 | +€154,971 | |
| Furniture and vehicles | 24 | - | €13,504 | +€13,504 | |
| Other tangible fixed assets | 26 | - | €270,011 | +€270,011 | |
| Financial fixed assets | 28 | €537 | - | -€537 | |
| Current assets | 29/58 | €598 | €2,264,012 | +€2.3m | +378497.3% |
| Amounts receivable after more than one year | 29 | - | €970 | +€970 | |
| Other amounts receivable | 291 | - | €970 | +€970 | |
| Amounts receivable within one year | 40/41 | €598 | €1,998,392 | +€2.0m | +334079.3% |
| Trade receivables | 40 | €545 | €333,108 | +€332,563 | +61020.7% |
| Other amounts receivable | 41 | €53 | €1,665,284 | +€1.7m | +3141945.3% |
| Cash at bank and in hand | 54/58 | - | €264,650 | +€264,650 | |
| Total equity and liabilities | 10/49 | €1,135 | €2,705,950 | +€2.7m | +238309.7% |
| Equity | 10/15 | -€98,923 | €1,033,035 | +€1.1m | |
| Contributions | 10/11 | €66,000 | €79,981 | +€13,981 | +21.2% |
| Reserves | 13 | €114,751 | €116,149 | +€1,398 | +1.2% |
| Non-distributable reserves | 130/1 | €6,600 | - | -€6,600 | |
| Reserves not available under the articles | 1311 | €6,600 | - | -€6,600 | |
| Tax-exempt reserves | 132 | €35,258 | €35,258 | = | 0.0% |
| Distributable reserves | 133 | €72,893 | €80,891 | +€7,998 | +11.0% |
| Profit (loss) carried forward | 14 | -€279,674 | €836,905 | +€1.1m | |
| Amounts payable | 17/49 | €100,058 | €1,672,915 | +€1.6m | +1571.9% |
| Amounts payable within one year | 42/48 | €100,058 | €1,672,915 | +€1.6m | +1571.9% |
| Trade debts | 44 | - | €952,049 | +€952,049 | |
| Suppliers | 440/4 | - | €952,049 | +€952,049 | |
| Taxes, remuneration and social security | 45 | - | €720,866 | +€720,866 | |
| Taxes | 450/3 | - | €533,684 | +€533,684 | |
| Remuneration and social security | 454/9 | - | €187,182 | +€187,182 | |
| Other amounts payable | 47/48 | €100,058 | - | -€100,058 | |
| Remuneration, social security and pensions | 62 | - | €1,207,514 | +€1.2m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €229,866 | +€229,866 | |
| Other operating charges | 640/8 | €2,516 | €198,093 | +€195,577 | +7773.3% |
| Non-recurring operating charges | 66A | - | €537 | +€537 | |
| Gross operating margin | 9900 | -€805 | €2,163,216 | +€2.2m | |
| Operating profit (loss) | 9901 | -€3,321 | €527,206 | +€530,527 | |
| Financial income | 75/76B | - | €3,054 | +€3,054 | |
| Recurring financial income | 75 | - | €3,054 | +€3,054 | |
| Financial charges | 65/66B | €490 | €13,617 | +€13,127 | +2679.0% |
| Recurring financial charges | 65 | €490 | €13,617 | +€13,127 | +2679.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,811 | €516,643 | +€520,454 | |
| Income taxes | 67/77 | - | €22,813 | +€22,813 | |
| Profit (loss) for the period | 9904 | -€3,811 | €493,830 | +€497,641 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,811 | €493,830 | +€497,641 |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.