Khairos: 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.
Khairos
Largest movements
- Tangible fixed assets +€777,250
up €777,250 (+1555.5%), from €49,968 to €827,219
of which Land and buildings: +€775,071
- Cash -€339,678
down €339,678 (-73.6%), from €461,751 to €122,073
mainly Investment in fixed assets (net) (-€806,829) and Receivables within one year (-€130,796)
- Receivables within one year +€130,796
up €130,796 (+265.5%), from €49,270 to €180,066
of which Trade receivables: +€100,446
- Stocks and contracts +€34,322
up €34,322 (+34.8%), from €98,715 to €133,037
- Debts after one year +€512,624
new in 2025: €512,624
- Profit (loss) carried forward +€86,258
up €86,258 (+10579.3%), from €815 to €87,074
- Tax, wage and social debts -€80,343
no longer reported in 2025 (was €80,343)
- Trade debts +€77,993
up €77,993 (+1204.0%), from €6,478 to €84,471
- Current portion of long-term debt +€48,232
new in 2025: €48,232
- Depreciation +€21,023
up €21,023 (+245.7%), from €8,555 to €29,578
- Provisions +€11,477
up €11,477, from -€8,968 to €2,509
- Taxes -€6,180
down €6,180 (-9.9%), from €62,351 to €56,171
- Financial income -€3,437
down €3,437 (-99.0%), from €3,471 to €34
- Financial charges -€3,388
down €3,388 (-8.6%), from €39,224 to €35,836
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 | €894,236 | €1,499,700 | +€605,463 | +67.7% |
| Fixed assets | 21/28 | €284,500 | €1,061,751 | +€777,250 | +273.2% |
| Tangible fixed assets | 22/27 | €49,968 | €827,219 | +€777,250 | +1555.5% |
| Land and buildings | 22 | - | €775,071 | +€775,071 | |
| Plant, machinery and equipment | 23 | €7,708 | €6,432 | -€1,277 | -16.6% |
| Furniture and vehicles | 24 | €20,760 | €16,416 | -€4,344 | -20.9% |
| Other tangible fixed assets | 26 | €21,500 | €29,300 | +€7,800 | +36.3% |
| Financial fixed assets | 28 | €234,532 | €234,532 | = | 0.0% |
| Current assets | 29/58 | €609,736 | €437,949 | -€171,787 | -28.2% |
| Stocks and contracts in progress | 3 | €98,715 | €133,037 | +€34,322 | +34.8% |
| Stocks | 30/36 | €98,715 | €133,037 | +€34,322 | +34.8% |
| Amounts receivable within one year | 40/41 | €49,270 | €180,066 | +€130,796 | +265.5% |
| Trade receivables | 40 | €46,144 | €146,590 | +€100,446 | +217.7% |
| Other amounts receivable | 41 | €3,126 | €33,476 | +€30,350 | +971.0% |
| Cash at bank and in hand | 54/58 | €461,751 | €122,073 | -€339,678 | -73.6% |
| Deferred charges and accrued income | 490/1 | - | €2,774 | +€2,774 | |
| Total equity and liabilities | 10/49 | €894,236 | €1,499,700 | +€605,463 | +67.7% |
| Equity | 10/15 | €426,815 | €513,074 | +€86,258 | +20.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €421,000 | €421,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €421,000 | €109,460 | -€311,540 | -74.0% |
| Distributable reserves | 133 | - | €311,540 | +€311,540 | |
| Profit (loss) carried forward | 14 | €815 | €87,074 | +€86,258 | +10579.3% |
| Provisions and deferred taxes | 16 | €36,032 | €38,541 | +€2,509 | +7.0% |
| Provisions for liabilities and charges | 160/5 | €36,032 | €38,541 | +€2,509 | +7.0% |
| Other liabilities and charges | 164/5 | €36,032 | €38,541 | +€2,509 | +7.0% |
| Amounts payable | 17/49 | €431,389 | €948,085 | +€516,696 | +119.8% |
| Amounts payable after more than one year | 17 | - | €512,624 | +€512,624 | |
| Financial debts | 170/4 | - | €512,624 | +€512,624 | |
| Amounts payable within one year | 42/48 | €431,389 | €435,461 | +€4,072 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | - | €48,232 | +€48,232 | |
| Trade debts | 44 | €6,478 | €84,471 | +€77,993 | +1204.0% |
| Suppliers | 440/4 | €6,478 | €84,471 | +€77,993 | +1204.0% |
| Taxes, remuneration and social security | 45 | €80,343 | - | -€80,343 | |
| Taxes | 450/3 | €80,343 | - | -€80,343 | |
| Other amounts payable | 47/48 | €344,569 | €302,759 | -€41,810 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,555 | €29,578 | +€21,023 | +245.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€8,968 | €2,509 | +€11,477 | |
| Other operating charges | 640/8 | €1,407 | €889 | -€518 | -36.8% |
| Gross operating margin | 9900 | €263,377 | €261,208 | -€2,169 | -0.8% |
| Operating profit (loss) | 9901 | €262,383 | €228,231 | -€34,151 | -13.0% |
| Financial income | 75/76B | €3,471 | €34 | -€3,437 | -99.0% |
| Recurring financial income | 75 | €3,471 | €34 | -€3,437 | -99.0% |
| Financial charges | 65/66B | €39,224 | €35,836 | -€3,388 | -8.6% |
| Recurring financial charges | 65 | €39,224 | €35,836 | -€3,388 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €226,630 | €192,430 | -€34,201 | -15.1% |
| Income taxes | 67/77 | €62,351 | €56,171 | -€6,180 | -9.9% |
| Profit (loss) for the period | 9904 | €164,279 | €136,258 | -€28,020 | -17.1% |
| Transfer from tax-exempt reserves | 789 | €105,250 | €311,540 | +€206,290 | +196.0% |
| Profit (loss) for the period to be appropriated | 9905 | €269,529 | €447,798 | +€178,270 | +66.1% |
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 4 October 2026 via checked.be.