KOXAL: 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.
KOXAL
Largest movements
- Stocks and contracts +€41,135
up €41,135 (+1537.1%), from €2,676 to €43,812
- Cash +€36,959
up €36,959 (+377.5%), from €9,792 to €46,751
mainly Net result for the year (+€30,649) and Other debts (+€28,104)
- Tangible fixed assets -€10,711
no longer reported in 2025 (was €10,711)
- Other debts +€28,104
new in 2025: €28,104
- Reserves +€28,020
new in 2025: €28,020
- Tax, wage and social debts +€8,098
up €8,098 (+135.2%), from €5,988 to €14,087
- Profit (loss) carried forward +€1,796
no longer reported in 2025 (was -€1,796)
- Accrued charges and deferred income +€1,098
up €1,098 (+1671.7%), from €66 to €1,164
- Gross operating margin +€30,083
up €30,083 (+325.6%), from €9,240 to €39,324
- Taxes +€5,509
new in 2025: €5,509
- Depreciation -€5,124
no longer reported in 2025 (was €5,124)
- Financial charges +€1,164
up €1,164 (+100.3%), from €1,161 to €2,325
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 | €23,794 | €90,714 | +€66,920 | +281.2% |
| Fixed assets | 21/28 | €10,711 | €75 | -€10,636 | -99.3% |
| Tangible fixed assets | 22/27 | €10,711 | - | -€10,711 | |
| Furniture and vehicles | 24 | €10,711 | - | -€10,711 | |
| Financial fixed assets | 28 | - | €75 | +€75 | |
| Current assets | 29/58 | €13,083 | €90,639 | +€77,556 | +592.8% |
| Stocks and contracts in progress | 3 | €2,676 | €43,812 | +€41,135 | +1537.1% |
| Stocks | 30/36 | €2,676 | €43,812 | +€41,135 | +1537.1% |
| Amounts receivable within one year | 40/41 | €540 | - | -€540 | |
| Trade receivables | 40 | €67 | - | -€67 | |
| Other amounts receivable | 41 | €473 | - | -€473 | |
| Cash at bank and in hand | 54/58 | €9,792 | €46,751 | +€36,959 | +377.5% |
| Deferred charges and accrued income | 490/1 | €75 | €77 | +€2 | +2.5% |
| Total equity and liabilities | 10/49 | €23,794 | €90,714 | +€66,920 | +281.2% |
| Equity | 10/15 | €16,804 | €46,620 | +€29,816 | +177.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €28,020 | +€28,020 | |
| Distributable reserves | 133 | - | €28,020 | +€28,020 | |
| Profit (loss) carried forward | 14 | -€1,796 | - | +€1,796 | |
| Amounts payable | 17/49 | €6,990 | €44,094 | +€37,104 | +530.8% |
| Amounts payable within one year | 42/48 | €6,924 | €42,930 | +€36,006 | +520.0% |
| Trade debts | 44 | €936 | €740 | -€196 | -21.0% |
| Suppliers | 440/4 | €936 | €740 | -€196 | -21.0% |
| Taxes, remuneration and social security | 45 | €5,988 | €14,087 | +€8,098 | +135.2% |
| Taxes | 450/3 | €5,988 | €14,087 | +€8,098 | +135.2% |
| Other amounts payable | 47/48 | - | €28,104 | +€28,104 | |
| Accrued charges and deferred income | 492/3 | €66 | €1,164 | +€1,098 | +1671.7% |
| Non-recurring operating income | 76A | - | €9,950 | +€9,950 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,124 | - | -€5,124 | |
| Other operating charges | 640/8 | €842 | €858 | +€16 | +1.9% |
| Gross operating margin | 9900 | €9,240 | €39,324 | +€30,083 | +325.6% |
| Operating profit (loss) | 9901 | €3,275 | €38,466 | +€35,191 | +1074.6% |
| Financial income | 75/76B | €200 | €17 | -€182 | -91.3% |
| Recurring financial income | 75 | €200 | €17 | -€182 | -91.3% |
| Financial charges | 65/66B | €1,161 | €2,325 | +€1,164 | +100.3% |
| Recurring financial charges | 65 | €1,161 | €2,325 | +€1,164 | +100.3% |
| Profit (loss) for the period before taxes | 9903 | €2,313 | €36,158 | +€33,845 | +1463.1% |
| Income taxes | 67/77 | - | €5,509 | +€5,509 | |
| Profit (loss) for the period | 9904 | €2,313 | €30,649 | +€28,336 | +1225.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,313 | €30,649 | +€28,336 | +1225.0% |
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 29 September 2026 via checked.be.