KLI-MAAS: 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.
KLI-MAAS
Largest movements
- Stocks and contracts -€39,012
down €39,012 (-36.9%), from €105,778 to €66,765
of which Contracts in progress: -€20,598
- Receivables within one year +€30,643
up €30,643 (+37.5%), from €81,805 to €112,448
of which Trade receivables: +€29,693
- Deferred charges and accrued income -€17,854
down €17,854 (-33.3%), from €53,563 to €35,709
- Tangible fixed assets +€4,977
up €4,977 (+168%), from €2,960 to €7,937
of which Furniture and vehicles: +€5,717
- Cash +€3,108
new in 2025: €3,108
mainly Trade debts (+€47,378) and Net result for the year (+€40,081)
- Other debts -€50,582
down €50,582 (-56.4%), from €89,755 to €39,173
- Trade debts +€47,378
up €47,378 (+62.3%), from €76,099 to €123,476
- Profit (loss) carried forward +€40,081
up €40,081, from -€26,816 to €13,265
- Short-term financial debts -€29,720
no longer reported in 2025 (was €29,720)
- Debts after one year -€28,031
down €28,031 (-55.2%), from €50,762 to €22,731
- Gross operating margin +€94,574
up €94,574, from -€16,127 to €78,447
- Staff costs +€8,238
up €8,238 (+37.4%), from €22,023 to €30,261
- Financial income -€4,076
down €4,076 (-62.8%), from €6,494 to €2,418
- Depreciation +€1,633
up €1,633 (+212%), from €770 to €2,403
- Taxes +€1,551
new in 2025: €1,551
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.
Derived cash bridge
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 | €244,190 | €226,021 | -€18,169 | -7.4% |
| Formation expenses | 20 | €85 | €55 | -€30 | -35.3% |
| Fixed assets | 21/28 | €2,960 | €7,937 | +€4,977 | +168% |
| Tangible fixed assets | 22/27 | €2,960 | €7,937 | +€4,977 | +168% |
| Plant, machinery and equipment | 23 | €2,960 | €2,220 | -€740 | -25.0% |
| Furniture and vehicles | 24 | - | €5,717 | +€5,717 | |
| Current assets | 29/58 | €241,145 | €218,029 | -€23,116 | -9.6% |
| Stocks and contracts in progress | 3 | €105,778 | €66,765 | -€39,012 | -36.9% |
| Stocks | 30/36 | €85,180 | €66,765 | -€18,414 | -21.6% |
| Contracts in progress | 37 | €20,598 | - | -€20,598 | |
| Amounts receivable within one year | 40/41 | €81,805 | €112,448 | +€30,643 | +37.5% |
| Trade receivables | 40 | €68,613 | €98,306 | +€29,693 | +43.3% |
| Other amounts receivable | 41 | €13,191 | €14,142 | +€951 | +7.2% |
| Cash at bank and in hand | 54/58 | - | €3,108 | +€3,108 | |
| Deferred charges and accrued income | 490/1 | €53,563 | €35,709 | -€17,854 | -33.3% |
| Total equity and liabilities | 10/49 | €244,190 | €226,021 | -€18,169 | -7.4% |
| Equity | 10/15 | -€16,816 | €23,265 | +€40,081 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,816 | €13,265 | +€40,081 | |
| Amounts payable | 17/49 | €261,006 | €202,756 | -€58,250 | -22.3% |
| Amounts payable after more than one year | 17 | €50,762 | €22,731 | -€28,031 | -55.2% |
| Financial debts | 170/4 | €50,762 | €22,731 | -€28,031 | -55.2% |
| Amounts payable within one year | 42/48 | €210,244 | €180,025 | -€30,219 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | - | €14,329 | +€14,329 | |
| Financial debts | 43 | €29,720 | - | -€29,720 | |
| Credit institutions | 430/8 | €29,720 | - | -€29,720 | |
| Trade debts | 44 | €76,099 | €123,476 | +€47,378 | +62.3% |
| Suppliers | 440/4 | €76,099 | €123,476 | +€47,378 | +62.3% |
| Taxes, remuneration and social security | 45 | €14,670 | €3,047 | -€11,623 | -79.2% |
| Taxes | 450/3 | €7,991 | €2,164 | -€5,827 | -72.9% |
| Remuneration and social security | 454/9 | €6,679 | €883 | -€5,796 | -86.8% |
| Other amounts payable | 47/48 | €89,755 | €39,173 | -€50,582 | -56.4% |
| Remuneration, social security and pensions | 62 | €22,023 | €30,261 | +€8,238 | +37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €770 | €2,403 | +€1,633 | +212% |
| Other operating charges | 640/8 | €1,889 | €1,634 | -€255 | -13.5% |
| Gross operating margin | 9900 | -€16,127 | €78,447 | +€94,574 | |
| Operating profit (loss) | 9901 | -€40,809 | €44,149 | +€84,958 | |
| Financial income | 75/76B | €6,494 | €2,418 | -€4,076 | -62.8% |
| Recurring financial income | 75 | €6,494 | €2,418 | -€4,076 | -62.8% |
| Financial charges | 65/66B | €4,188 | €4,936 | +€748 | +17.9% |
| Recurring financial charges | 65 | €4,188 | €4,936 | +€748 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | -€38,502 | €41,632 | +€80,134 | |
| Income taxes | 67/77 | - | €1,551 | +€1,551 | |
| Profit (loss) for the period | 9904 | -€38,502 | €40,081 | +€78,583 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,502 | €40,081 | +€78,583 |
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 20 October 2026 via checked.be.