KHAAI: 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.
KHAAI
Largest movements
- Receivables within one year +€28,963
up €28,963 (+163%), from €17,782 to €46,746
of which Other amounts receivable: +€26,060
- Cash +€14,393
up €14,393 (+309%), from €4,661 to €19,054
mainly Tax, wage and social debts (+€26,503) and Trade debts (+€17,576)
- Intangible fixed assets -€8,309
down €8,309 (-14.3%), from €58,021 to €49,712
- Stocks and contracts +€4,239
up €4,239 (+222%), from €1,911 to €6,150
- Financial fixed assets +€3,750
new in 2025: €3,750
- Tax, wage and social debts +€26,503
up €26,503 (+96.4%), from €27,483 to €53,986
of which Remuneration and social security: +€20,420
- Trade debts +€17,576
up €17,576 (+34.0%), from €51,726 to €69,301
- Staff costs +€41,478
up €41,478 (+64.2%), from €64,634 to €106,112
- Gross operating margin +€15,449
up €15,449 (+13.1%), from €118,372 to €133,820
- Taxes -€5,417
down €5,417 (-81.4%), from €6,658 to €1,241
- Depreciation +€3,352
up €3,352 (+24.4%), from €13,741 to €17,093
- Other operating charges +€2,462
up €2,462 (+56.2%), from €4,382 to €6,845
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 | €108,658 | €153,518 | +€44,860 | +41.3% |
| Fixed assets | 21/28 | €84,303 | €81,531 | -€2,772 | -3.3% |
| Intangible fixed assets | 21 | €58,021 | €49,712 | -€8,309 | -14.3% |
| Tangible fixed assets | 22/27 | €26,282 | €28,069 | +€1,787 | +6.8% |
| Plant, machinery and equipment | 23 | €22,264 | €21,452 | -€812 | -3.6% |
| Furniture and vehicles | 24 | €4,018 | €6,617 | +€2,599 | +64.7% |
| Financial fixed assets | 28 | - | €3,750 | +€3,750 | |
| Current assets | 29/58 | €24,355 | €71,987 | +€47,632 | +196% |
| Stocks and contracts in progress | 3 | €1,911 | €6,150 | +€4,239 | +222% |
| Stocks | 30/36 | €1,911 | €6,150 | +€4,239 | +222% |
| Amounts receivable within one year | 40/41 | €17,782 | €46,746 | +€28,963 | +163% |
| Trade receivables | 40 | €6,063 | €8,966 | +€2,903 | +47.9% |
| Other amounts receivable | 41 | €11,719 | €37,779 | +€26,060 | +222% |
| Cash at bank and in hand | 54/58 | €4,661 | €19,054 | +€14,393 | +309% |
| Deferred charges and accrued income | 490/1 | - | €37 | +€37 | |
| Total equity and liabilities | 10/49 | €108,658 | €153,518 | +€44,860 | +41.3% |
| Equity | 10/15 | €29,449 | €30,231 | +€781 | +2.7% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €25,949 | €26,731 | +€781 | +3.0% |
| Distributable reserves | 133 | €25,949 | €26,731 | +€781 | +3.0% |
| Amounts payable | 17/49 | €79,209 | €123,287 | +€44,078 | +55.6% |
| Amounts payable within one year | 42/48 | €79,209 | €123,287 | +€44,078 | +55.6% |
| Trade debts | 44 | €51,726 | €69,301 | +€17,576 | +34.0% |
| Suppliers | 440/4 | €51,726 | €69,301 | +€17,576 | +34.0% |
| Taxes, remuneration and social security | 45 | €27,483 | €53,986 | +€26,503 | +96.4% |
| Taxes | 450/3 | €11,551 | €17,634 | +€6,083 | +52.7% |
| Remuneration and social security | 454/9 | €15,931 | €36,352 | +€20,420 | +128% |
| Remuneration, social security and pensions | 62 | €64,634 | €106,112 | +€41,478 | +64.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,741 | €17,093 | +€3,352 | +24.4% |
| Other operating charges | 640/8 | €4,382 | €6,845 | +€2,462 | +56.2% |
| Gross operating margin | 9900 | €118,372 | €133,820 | +€15,449 | +13.1% |
| Operating profit (loss) | 9901 | €35,615 | €3,771 | -€31,844 | -89.4% |
| Financial income | 75/76B | €11 | €1,928 | +€1,917 | +18,241% |
| Recurring financial income | 75 | €11 | €1,928 | +€1,917 | +18,241% |
| Financial charges | 65/66B | €3,018 | €3,676 | +€658 | +21.8% |
| Recurring financial charges | 65 | €3,018 | €3,676 | +€658 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €32,607 | €2,022 | -€30,585 | -93.8% |
| Income taxes | 67/77 | €6,658 | €1,241 | -€5,417 | -81.4% |
| Profit (loss) for the period | 9904 | €25,949 | €781 | -€25,168 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,949 | €781 | -€25,168 | -97.0% |
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 24 October 2026 via checked.be.