Khan: what changed
Khan
Largest movements
- Tangible fixed assets +€214,332
up €214,332 (+22.6%), from €948,394 to €1.2m
of which Land and buildings: +€238,708
- Cash -€54,952
down €54,952 (-22.3%), from €246,865 to €191,913
mainly Investment in fixed assets (net) (-€293,996) and Receivables within one year (-€22,133)
- Receivables within one year +€22,133
up €22,133 (+22.5%), from €98,577 to €120,710
of which Trade receivables: +€72,088
- Other debts +€143,210
up €143,210 (+38.2%), from €375,135 to €518,345
- Reserves +€52,308
up €52,308 (+6.2%), from €844,171 to €896,479
- Gross operating margin +€99,091
up €99,091 (+191%), from €51,926 to €151,017
- Depreciation +€21,510
up €21,510 (+37.0%), from €58,154 to €79,663
- Taxes +€11,688
up €11,688 (+11,651%), from €100 to €11,788
- Financial income -€2,531
down €2,531 (-92.1%), from €2,750 to €219
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,668,836 | €1,851,026 | +€182,190 | +10.9% |
| Fixed assets | 21/28 | €1,323,394 | €1,537,726 | +€214,332 | +16.2% |
| Tangible fixed assets | 22/27 | €948,394 | €1,162,726 | +€214,332 | +22.6% |
| Land and buildings | 22 | €854,900 | €1,093,608 | +€238,708 | +27.9% |
| Plant, machinery and equipment | 23 | €12,842 | €9,022 | -€3,820 | -29.7% |
| Furniture and vehicles | 24 | €80,651 | €60,096 | -€20,556 | -25.5% |
| Financial fixed assets | 28 | €375,000 | €375,000 | = | 0.0% |
| Current assets | 29/58 | €345,443 | €313,300 | -€32,143 | -9.3% |
| Amounts receivable within one year | 40/41 | €98,577 | €120,710 | +€22,133 | +22.5% |
| Trade receivables | 40 | €42,129 | €114,217 | +€72,088 | +171% |
| Other amounts receivable | 41 | €56,448 | €6,493 | -€49,955 | -88.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €246,865 | €191,913 | -€54,952 | -22.3% |
| Deferred charges and accrued income | 490/1 | €0 | €677 | +€677 | |
| Total equity and liabilities | 10/49 | €1,668,836 | €1,851,026 | +€182,190 | +10.9% |
| Equity | 10/15 | €1,219,171 | €1,271,479 | +€52,308 | +4.3% |
| Contributions | 10/11 | €375,000 | €375,000 | = | 0.0% |
| Reserves | 13 | €844,171 | €896,479 | +€52,308 | +6.2% |
| Distributable reserves | 133 | €844,171 | €896,479 | +€52,308 | +6.2% |
| Amounts payable | 17/49 | €449,665 | €579,547 | +€129,882 | +28.9% |
| Amounts payable after more than one year | 17 | €39,210 | €23,963 | -€15,247 | -38.9% |
| Financial debts | 170/4 | €39,210 | €23,963 | -€15,247 | -38.9% |
| Amounts payable within one year | 42/48 | €410,455 | €555,584 | +€145,128 | +35.4% |
| Current portion of amounts payable after more than one year | 42 | €14,689 | €15,247 | +€558 | +3.8% |
| Trade debts | 44 | €3,379 | €2,421 | -€958 | -28.3% |
| Suppliers | 440/4 | €3,379 | €2,421 | -€958 | -28.3% |
| Taxes, remuneration and social security | 45 | €17,252 | €19,570 | +€2,318 | +13.4% |
| Taxes | 450/3 | €17,252 | €19,570 | +€2,318 | +13.4% |
| Other amounts payable | 47/48 | €375,135 | €518,345 | +€143,210 | +38.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,154 | €79,663 | +€21,510 | +37.0% |
| Other operating charges | 640/8 | €4,258 | €5,268 | +€1,011 | +23.7% |
| Gross operating margin | 9900 | €51,926 | €151,017 | +€99,091 | +191% |
| Operating profit (loss) | 9901 | -€10,486 | €66,085 | +€76,571 | |
| Financial income | 75/76B | €2,750 | €219 | -€2,531 | -92.1% |
| Recurring financial income | 75 | €2,750 | €219 | -€2,531 | -92.1% |
| Financial charges | 65/66B | €1,300 | €2,207 | +€908 | +69.8% |
| Recurring financial charges | 65 | €1,300 | €2,207 | +€908 | +69.8% |
| Profit (loss) for the period before taxes | 9903 | -€9,035 | €64,097 | +€73,132 | |
| Income taxes | 67/77 | €100 | €11,788 | +€11,688 | +11,651% |
| Profit (loss) for the period | 9904 | -€9,136 | €52,308 | +€61,444 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,136 | €52,308 | +€61,444 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.