KOGARASHI: 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.
KOGARASHI
Largest movements
- Current investments -€449,250
down €449,250 (-75.1%), from €598,302 to €149,052
- Cash +€342,192
up €342,192 (+553.1%), from €61,870 to €404,063
mainly Other debts (+€522,225) and Current investments (+€449,250)
- Receivables within one year +€199,356
up €199,356 (+547.6%), from €36,404 to €235,760
of which Trade receivables: +€202,413
- Tangible fixed assets -€15,561
down €15,561 (-15.7%), from €98,890 to €83,329
of which Leasing and similar rights: -€13,413
- Deferred charges and accrued income -€13,758
down €13,758 (-57.8%), from €23,786 to €10,027
- Other debts +€522,225
new in 2025: €522,225
- Reserves -€403,947
down €403,947 (-59.5%), from €678,797 to €274,851
of which Distributable reserves: -€403,947
- Accrued charges and deferred income -€37,430
down €37,430 (-100.0%), from €37,430 to €0
- Debts after one year -€12,341
down €12,341 (-26.9%), from €45,874 to €33,532
- Financial income +€64,181
up €64,181 (+195.6%), from €32,815 to €96,996
- Taxes +€25,843
up €25,843 (+27.0%), from €95,662 to €121,505
- Gross operating margin +€23,761
up €23,761 (+6.1%), from €386,533 to €410,294
- Financial charges +€9,337
up €9,337 (+200.9%), from €4,648 to €13,985
- Depreciation +€6,892
up €6,892 (+47.7%), from €14,452 to €21,344
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 | €819,253 | €882,231 | +€62,978 | +7.7% |
| Fixed assets | 21/28 | €98,890 | €83,329 | -€15,561 | -15.7% |
| Tangible fixed assets | 22/27 | €98,890 | €83,329 | -€15,561 | -15.7% |
| Land and buildings | 22 | €15,444 | €15,172 | -€272 | -1.8% |
| Plant, machinery and equipment | 23 | €4,593 | €2,539 | -€2,053 | -44.7% |
| Furniture and vehicles | 24 | €19,836 | €20,014 | +€178 | +0.9% |
| Leasing and similar rights | 25 | €59,017 | €45,604 | -€13,413 | -22.7% |
| Current assets | 29/58 | €720,363 | €798,902 | +€78,539 | +10.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €36,404 | €235,760 | +€199,356 | +547.6% |
| Trade receivables | 40 | €33,347 | €235,760 | +€202,413 | +607.0% |
| Other amounts receivable | 41 | €3,057 | €0 | -€3,057 | -100.0% |
| Current investments | 50/53 | €598,302 | €149,052 | -€449,250 | -75.1% |
| Cash at bank and in hand | 54/58 | €61,870 | €404,063 | +€342,192 | +553.1% |
| Deferred charges and accrued income | 490/1 | €23,786 | €10,027 | -€13,758 | -57.8% |
| Total equity and liabilities | 10/49 | €819,253 | €882,231 | +€62,978 | +7.7% |
| Equity | 10/15 | €697,397 | €293,451 | -€403,947 | -57.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €678,797 | €274,851 | -€403,947 | -59.5% |
| Tax-exempt reserves | 132 | €535 | €535 | = | 0.0% |
| Distributable reserves | 133 | €678,263 | €274,316 | -€403,947 | -59.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €121,855 | €588,781 | +€466,925 | +383.2% |
| Amounts payable after more than one year | 17 | €45,874 | €33,532 | -€12,341 | -26.9% |
| Financial debts | 170/4 | €45,874 | €33,532 | -€12,341 | -26.9% |
| Amounts payable within one year | 42/48 | €38,551 | €555,248 | +€516,697 | +1340.3% |
| Current portion of amounts payable after more than one year | 42 | €12,249 | €12,295 | +€46 | +0.4% |
| Trade debts | 44 | €352 | €2,433 | +€2,081 | +590.6% |
| Suppliers | 440/4 | €352 | €2,433 | +€2,081 | +590.6% |
| Taxes, remuneration and social security | 45 | €25,950 | €18,294 | -€7,656 | -29.5% |
| Taxes | 450/3 | €25,950 | €18,294 | -€7,656 | -29.5% |
| Other amounts payable | 47/48 | - | €522,225 | +€522,225 | |
| Accrued charges and deferred income | 492/3 | €37,430 | €0 | -€37,430 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,452 | €21,344 | +€6,892 | +47.7% |
| Other operating charges | 640/8 | €1,030 | €3,140 | +€2,110 | +205.0% |
| Gross operating margin | 9900 | €386,533 | €410,294 | +€23,761 | +6.1% |
| Operating profit (loss) | 9901 | €371,051 | €385,809 | +€14,758 | +4.0% |
| Financial income | 75/76B | €32,815 | €96,996 | +€64,181 | +195.6% |
| Recurring financial income | 75 | €32,815 | €96,996 | +€64,181 | +195.6% |
| Financial charges | 65/66B | €4,648 | €13,985 | +€9,337 | +200.9% |
| Recurring financial charges | 65 | €4,648 | €13,985 | +€9,337 | +200.9% |
| Profit (loss) for the period before taxes | 9903 | €399,218 | €468,821 | +€69,602 | +17.4% |
| Income taxes | 67/77 | €95,662 | €121,505 | +€25,843 | +27.0% |
| Profit (loss) for the period | 9904 | €303,557 | €347,316 | +€43,759 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €303,557 | €347,316 | +€43,759 | +14.4% |
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 3 October 2026 via checked.be.