KHOBZ: 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.
KHOBZ
Largest movements
- Tangible fixed assets +€299,623
up €299,623 (+133.7%), from €224,059 to €523,683
of which Land and buildings: +€415,325
- Cash -€34,400
down €34,400 (-29.7%), from €115,989 to €81,589
mainly Investment in fixed assets (net) (-€351,320) and Contributions, distributions and other (-€32,590)
- Receivables within one year +€30,135
up €30,135 (+155.1%), from €19,425 to €49,561
of which Other amounts receivable: +€23,525
- Debts after one year +€293,026
up €293,026 (+192.0%), from €152,593 to €445,619
- Profit (loss) carried forward -€29,411
down €29,411 (-32.9%), from €89,456 to €60,046
- Investment grants +€15,710
new in 2025: €15,710
- Current portion of long-term debt +€14,091
up €14,091 (+32.9%), from €42,882 to €56,974
- Staff costs +€17,803
up €17,803 (+8.3%), from €213,692 to €231,495
- Taxes -€5,797
down €5,797 (-50.7%), from €11,434 to €5,637
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 | €375,454 | €671,288 | +€295,835 | +78.8% |
| Formation expenses | 20 | €399 | €120 | -€279 | -69.9% |
| Fixed assets | 21/28 | €233,317 | €532,941 | +€299,623 | +128.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €224,059 | €523,683 | +€299,623 | +133.7% |
| Land and buildings | 22 | - | €415,325 | +€415,325 | |
| Furniture and vehicles | 24 | €128,605 | €108,357 | -€20,248 | -15.7% |
| Other tangible fixed assets | 26 | €95,454 | €0 | -€95,454 | -100.0% |
| Financial fixed assets | 28 | €9,258 | €9,258 | = | 0.0% |
| Current assets | 29/58 | €141,737 | €138,228 | -€3,509 | -2.5% |
| Stocks and contracts in progress | 3 | €6,290 | €7,016 | +€727 | +11.6% |
| Stocks | 30/36 | €6,290 | €7,016 | +€727 | +11.6% |
| Amounts receivable within one year | 40/41 | €19,425 | €49,561 | +€30,135 | +155.1% |
| Trade receivables | 40 | €150 | €6,761 | +€6,610 | +4406.4% |
| Other amounts receivable | 41 | €19,275 | €42,800 | +€23,525 | +122.0% |
| Cash at bank and in hand | 54/58 | €115,989 | €81,589 | -€34,400 | -29.7% |
| Deferred charges and accrued income | 490/1 | €33 | €62 | +€29 | +86.2% |
| Total equity and liabilities | 10/49 | €375,454 | €671,288 | +€295,835 | +78.8% |
| Equity | 10/15 | €95,456 | €81,756 | -€13,701 | -14.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,456 | €60,046 | -€29,411 | -32.9% |
| Investment grants | 15 | - | €15,710 | +€15,710 | |
| Amounts payable | 17/49 | €279,997 | €589,533 | +€309,535 | +110.5% |
| Amounts payable after more than one year | 17 | €152,593 | €445,619 | +€293,026 | +192.0% |
| Financial debts | 170/4 | €152,593 | €445,619 | +€293,026 | +192.0% |
| Amounts payable within one year | 42/48 | €127,404 | €143,913 | +€16,509 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €42,882 | €56,974 | +€14,091 | +32.9% |
| Trade debts | 44 | €6,236 | €6,199 | -€37 | -0.6% |
| Suppliers | 440/4 | €6,236 | €6,199 | -€37 | -0.6% |
| Taxes, remuneration and social security | 45 | €59,161 | €58,070 | -€1,090 | -1.8% |
| Taxes | 450/3 | €17,785 | €12,765 | -€5,020 | -28.2% |
| Remuneration and social security | 454/9 | €41,375 | €45,305 | +€3,930 | +9.5% |
| Other amounts payable | 47/48 | €19,125 | €22,670 | +€3,545 | +18.5% |
| Non-recurring operating income | 76A | - | €569 | +€569 | |
| Remuneration, social security and pensions | 62 | €213,692 | €231,495 | +€17,803 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,459 | €51,976 | +€1,517 | +3.0% |
| Other operating charges | 640/8 | €719 | €1,002 | +€284 | +39.5% |
| Non-recurring operating charges | 66A | - | €51,963 | +€51,963 | |
| Gross operating margin | 9900 | €376,030 | €376,101 | +€70 | 0.0% |
| Operating profit (loss) | 9901 | €111,161 | €39,665 | -€71,496 | -64.3% |
| Financial income | 75/76B | €35 | €856 | +€821 | +2360.6% |
| Recurring financial income | 75 | €35 | €350 | +€315 | +906.6% |
| Non-recurring financial income | 76B | - | €506 | +€506 | |
| Financial charges | 65/66B | €15,002 | €15,994 | +€992 | +6.6% |
| Recurring financial charges | 65 | €15,002 | €14,722 | -€280 | -1.9% |
| Non-recurring financial charges | 66B | - | €1,272 | +€1,272 | |
| Profit (loss) for the period before taxes | 9903 | €96,194 | €24,526 | -€71,667 | -74.5% |
| Income taxes | 67/77 | €11,434 | €5,637 | -€5,797 | -50.7% |
| Profit (loss) for the period | 9904 | €84,760 | €18,889 | -€65,870 | -77.7% |
| Profit (loss) for the period to be appropriated | 9905 | €84,760 | €18,889 | -€65,870 | -77.7% |
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 2 October 2026 via checked.be.