KHAPA: 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.
KHAPA
Largest movements
- Cash +€30,415
up €30,415 (+1183.7%), from €2,569 to €32,984
mainly Other debts (+€66,980) and Receivables within one year (+€2,242)
- Stocks and contracts +€27,181
up €27,181 (+17.3%), from €156,805 to €183,986
- Other debts +€66,980
up €66,980 (+38.0%), from €176,404 to €243,384
- Profit (loss) carried forward -€10,176
down €10,176 (-70.9%), from -€14,348 to -€24,524
- Gross operating margin -€2,571
down €2,571 (-48.4%), from -€5,311 to -€7,882
- Other operating charges +€1,704
up €1,704 (+422.4%), from €403 to €2,107
- Financial charges +€110
up €110 (+141.4%), from €78 to €187
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 | €170,176 | €225,531 | +€55,354 | +32.5% |
| Current assets | 29/58 | €170,176 | €225,531 | +€55,354 | +32.5% |
| Stocks and contracts in progress | 3 | €156,805 | €183,986 | +€27,181 | +17.3% |
| Stocks | 30/36 | €156,805 | €183,986 | +€27,181 | +17.3% |
| Amounts receivable within one year | 40/41 | €10,802 | €8,560 | -€2,242 | -20.8% |
| Trade receivables | 40 | €1,104 | - | -€1,104 | |
| Other amounts receivable | 41 | €9,698 | €8,560 | -€1,138 | -11.7% |
| Cash at bank and in hand | 54/58 | €2,569 | €32,984 | +€30,415 | +1183.7% |
| Total equity and liabilities | 10/49 | €170,176 | €225,531 | +€55,354 | +32.5% |
| Equity | 10/15 | -€8,148 | -€18,324 | -€10,176 | -124.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,348 | -€24,524 | -€10,176 | -70.9% |
| Amounts payable | 17/49 | €178,324 | €243,855 | +€65,531 | +36.7% |
| Amounts payable within one year | 42/48 | €178,324 | €243,855 | +€65,531 | +36.7% |
| Trade debts | 44 | €585 | €471 | -€113 | -19.4% |
| Suppliers | 440/4 | €585 | €471 | -€113 | -19.4% |
| Advances received on contracts in progress | 46 | €1,336 | - | -€1,336 | |
| Other amounts payable | 47/48 | €176,404 | €243,384 | +€66,980 | +38.0% |
| Other operating charges | 640/8 | €403 | €2,107 | +€1,704 | +422.4% |
| Gross operating margin | 9900 | -€5,311 | -€7,882 | -€2,571 | -48.4% |
| Operating profit (loss) | 9901 | -€5,714 | -€9,989 | -€4,275 | -74.8% |
| Financial charges | 65/66B | €78 | €187 | +€110 | +141.4% |
| Recurring financial charges | 65 | €78 | €187 | +€110 | +141.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,792 | -€10,176 | -€4,385 | -75.7% |
| Profit (loss) for the period | 9904 | -€5,792 | -€10,176 | -€4,385 | -75.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,792 | -€10,176 | -€4,385 | -75.7% |
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 10 October 2026 via checked.be.