KHAI: 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.
KHAI
Largest movements
- Receivables within one year -€8,656
down €8,656 (-28.6%), from €30,246 to €21,589
of which Other amounts receivable: -€10,108
- Tangible fixed assets -€7,265
no longer reported in 2025 (was €7,265)
- Intangible fixed assets +€5,768
new in 2025: €5,768
- Cash +€1,244
up €1,244 (+6580.4%), from €19 to €1,263
mainly Receivables within one year (+€8,656) and Trade debts (+€4,581)
- Profit (loss) carried forward -€15,364
down €15,364 (-100.9%), from -€15,229 to -€30,593
- Trade debts +€4,581
up €4,581 (+9.0%), from €51,061 to €55,642
- Tax, wage and social debts +€1,590
up €1,590 (+18.2%), from €8,718 to €10,308
of which Remuneration and social security: +€1,132
- Gross operating margin -€31,979
down €31,979, from €26,940 to -€5,039
- Depreciation -€5,247
down €5,247 (-95.8%), from €5,479 to €232
- Staff costs +€1,372
new in 2025: €1,372
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 | €49,550 | €40,640 | -€8,910 | -18.0% |
| Fixed assets | 21/28 | €19,285 | €17,788 | -€1,497 | -7.8% |
| Intangible fixed assets | 21 | - | €5,768 | +€5,768 | |
| Tangible fixed assets | 22/27 | €7,265 | - | -€7,265 | |
| Furniture and vehicles | 24 | €7,265 | - | -€7,265 | |
| Financial fixed assets | 28 | €12,020 | €12,020 | = | 0.0% |
| Current assets | 29/58 | €30,265 | €22,852 | -€7,413 | -24.5% |
| Amounts receivable within one year | 40/41 | €30,246 | €21,589 | -€8,656 | -28.6% |
| Trade receivables | 40 | €7,008 | €8,460 | +€1,452 | +20.7% |
| Other amounts receivable | 41 | €23,237 | €13,129 | -€10,108 | -43.5% |
| Cash at bank and in hand | 54/58 | €19 | €1,263 | +€1,244 | +6580.4% |
| Total equity and liabilities | 10/49 | €49,550 | €40,640 | -€8,910 | -18.0% |
| Equity | 10/15 | -€10,229 | -€25,593 | -€15,364 | -150.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,229 | -€30,593 | -€15,364 | -100.9% |
| Amounts payable | 17/49 | €59,779 | €66,233 | +€6,454 | +10.8% |
| Amounts payable within one year | 42/48 | €59,779 | €65,950 | +€6,172 | +10.3% |
| Trade debts | 44 | €51,061 | €55,642 | +€4,581 | +9.0% |
| Suppliers | 440/4 | €51,061 | €55,642 | +€4,581 | +9.0% |
| Taxes, remuneration and social security | 45 | €8,718 | €10,308 | +€1,590 | +18.2% |
| Taxes | 450/3 | €168 | €626 | +€459 | +273.3% |
| Remuneration and social security | 454/9 | €8,550 | €9,682 | +€1,132 | +13.2% |
| Accrued charges and deferred income | 492/3 | - | €283 | +€283 | |
| Non-recurring operating income | 76A | €37,757 | - | -€37,757 | |
| Remuneration, social security and pensions | 62 | - | €1,372 | +€1,372 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,479 | €232 | -€5,247 | -95.8% |
| Other operating charges | 640/8 | €3,452 | €3,634 | +€182 | +5.3% |
| Non-recurring operating charges | 66A | - | €4,869 | +€4,869 | |
| Gross operating margin | 9900 | €26,940 | -€5,039 | -€31,979 | |
| Operating profit (loss) | 9901 | €18,009 | -€15,146 | -€33,156 | |
| Financial charges | 65/66B | €336 | €117 | -€219 | -65.1% |
| Recurring financial charges | 65 | €336 | €117 | -€219 | -65.1% |
| Profit (loss) for the period before taxes | 9903 | €17,673 | -€15,264 | -€32,937 | |
| Income taxes | 67/77 | €220 | €101 | -€119 | -54.2% |
| Profit (loss) for the period | 9904 | €17,453 | -€15,364 | -€32,818 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,453 | -€15,364 | -€32,818 |
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 8 October 2026 via checked.be.