KOBZ: 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.
KOBZ
Largest movements
- Cash +€74,112
up €74,112 (+99.7%), from €74,323 to €148,434
mainly Debts after one year (+€76,690) and Receivables within one year (+€41,549)
- Receivables within one year -€41,549
down €41,549 (-56.7%), from €73,299 to €31,750
of which Other amounts receivable: -€38,056
- Stocks and contracts -€19,521
down €19,521 (-23.7%), from €82,246 to €62,725
- Tangible fixed assets +€9,856
up €9,856 (+418%), from €2,358 to €12,214
of which Other tangible fixed assets: +€4,939
- Deferred charges and accrued income +€2,770
new in 2025: €2,770
- Debts after one year +€76,690
up €76,690 (+3,926%), from €1,953 to €78,644
- Other debts -€60,795
down €60,795 (-48.0%), from €126,655 to €65,860
- Profit (loss) carried forward -€26,816
down €26,816, from €79 to -€26,737
- Current portion of long-term debt +€22,369
up €22,369 (+346%), from €6,469 to €28,838
- Tax, wage and social debts +€9,227
up €9,227 (+20.4%), from €45,173 to €54,401
of which Taxes: +€8,424
- Gross operating margin -€47,425
down €47,425, from €42,639 to -€4,786
- Financial charges +€17,573
up €17,573 (+698%), from €2,519 to €20,091
- Taxes -€10,835
no longer reported in 2025 (was €10,835)
- Depreciation +€2,378
up €2,378 (+1,122%), from €212 to €2,590
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 | €234,227 | €259,894 | +€25,667 | +11.0% |
| Fixed assets | 21/28 | €4,358 | €14,214 | +€9,856 | +226% |
| Tangible fixed assets | 22/27 | €2,358 | €12,214 | +€9,856 | +418% |
| Plant, machinery and equipment | 23 | - | €1,187 | +€1,187 | |
| Furniture and vehicles | 24 | €2,358 | €6,088 | +€3,730 | +158% |
| Other tangible fixed assets | 26 | - | €4,939 | +€4,939 | |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €229,869 | €245,679 | +€15,811 | +6.9% |
| Stocks and contracts in progress | 3 | €82,246 | €62,725 | -€19,521 | -23.7% |
| Stocks | 30/36 | €82,246 | €62,725 | -€19,521 | -23.7% |
| Amounts receivable within one year | 40/41 | €73,299 | €31,750 | -€41,549 | -56.7% |
| Trade receivables | 40 | €27,646 | €24,153 | -€3,494 | -12.6% |
| Other amounts receivable | 41 | €45,653 | €7,597 | -€38,056 | -83.4% |
| Cash at bank and in hand | 54/58 | €74,323 | €148,434 | +€74,112 | +99.7% |
| Deferred charges and accrued income | 490/1 | - | €2,770 | +€2,770 | |
| Total equity and liabilities | 10/49 | €234,227 | €259,894 | +€25,667 | +11.0% |
| Equity | 10/15 | €32,479 | €5,663 | -€26,816 | -82.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,400 | €27,400 | = | 0.0% |
| Distributable reserves | 133 | €27,400 | €27,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79 | -€26,737 | -€26,816 | |
| Amounts payable | 17/49 | €201,747 | €254,230 | +€52,483 | +26.0% |
| Amounts payable after more than one year | 17 | €1,953 | €78,644 | +€76,690 | +3,926% |
| Financial debts | 170/4 | €1,953 | €78,644 | +€76,690 | +3,926% |
| Amounts payable within one year | 42/48 | €199,794 | €175,587 | -€24,207 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €6,469 | €28,838 | +€22,369 | +346% |
| Trade debts | 44 | €21,498 | €26,488 | +€4,991 | +23.2% |
| Suppliers | 440/4 | €21,498 | €26,488 | +€4,991 | +23.2% |
| Taxes, remuneration and social security | 45 | €45,173 | €54,401 | +€9,227 | +20.4% |
| Taxes | 450/3 | €41,978 | €50,402 | +€8,424 | +20.1% |
| Remuneration and social security | 454/9 | €3,195 | €3,999 | +€804 | +25.2% |
| Other amounts payable | 47/48 | €126,655 | €65,860 | -€60,795 | -48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €212 | €2,590 | +€2,378 | +1,122% |
| Other operating charges | 640/8 | €322 | - | -€322 | |
| Gross operating margin | 9900 | €42,639 | -€4,786 | -€47,425 | |
| Operating profit (loss) | 9901 | €42,105 | -€7,376 | -€49,481 | |
| Financial income | 75/76B | €394 | €651 | +€257 | +65.4% |
| Recurring financial income | 75 | €394 | €651 | +€257 | +65.4% |
| Financial charges | 65/66B | €2,519 | €20,091 | +€17,573 | +698% |
| Recurring financial charges | 65 | €2,519 | €20,091 | +€17,573 | +698% |
| Profit (loss) for the period before taxes | 9903 | €39,980 | -€26,816 | -€66,796 | |
| Income taxes | 67/77 | €10,835 | - | -€10,835 | |
| Profit (loss) for the period | 9904 | €29,145 | -€26,816 | -€55,962 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,145 | -€26,816 | -€55,962 |
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 13 October 2026 via checked.be.