KOZIEL: 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.
KOZIEL
Largest movements
- Receivables after one year -€294,965
no longer reported in 2025 (was €294,965)
- Receivables within one year +€153,911
up €153,911 (+8.8%), from €1.8m to €1.9m
of which Other amounts receivable: +€169,596
- Tangible fixed assets -€96,276
down €96,276 (-40.8%), from €235,684 to €139,408
of which Leasing and similar rights: -€66,575
- Financial fixed assets -€30,230
down €30,230 (-16.6%), from €182,118 to €151,887
- Cash -€27,824
down €27,824 (-85.7%), from €32,480 to €4,656
mainly Net result for the year (-€228,386) and Trade debts (-€157,990)
- Profit (loss) carried forward -€222,519
down €222,519 (-14.1%), from -€1.6m to -€1.8m
- Trade debts -€157,990
down €157,990 (-10.5%), from €1.5m to €1.3m
- Tax, wage and social debts +€126,449
up €126,449 (+83.2%), from €151,968 to €278,417
of which Remuneration and social security: +€131,513
- Current portion of long-term debt -€30,178
down €30,178 (-77.4%), from €39,007 to €8,829
- Financial charges +€273,262
up €273,262 (+346.8%), from €78,787 to €352,049
of which Non-recurring financial charges: +€294,965
- Gross operating margin -€229,938
down €229,938 (-14.3%), from €1.6m to €1.4m
- Staff costs +€46,665
up €46,665 (+4.5%), from €1.0m to €1.1m
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 | €2,705,493 | €2,403,545 | -€301,948 | -11.2% |
| Fixed assets | 21/28 | €417,934 | €291,295 | -€126,639 | -30.3% |
| Intangible fixed assets | 21 | €133 | - | -€133 | |
| Tangible fixed assets | 22/27 | €235,684 | €139,408 | -€96,276 | -40.8% |
| Land and buildings | 22 | €108,319 | €101,149 | -€7,170 | -6.6% |
| Plant, machinery and equipment | 23 | €24,316 | €12,269 | -€12,046 | -49.5% |
| Furniture and vehicles | 24 | €18,477 | €7,992 | -€10,485 | -56.7% |
| Leasing and similar rights | 25 | €84,572 | €17,998 | -€66,575 | -78.7% |
| Financial fixed assets | 28 | €182,118 | €151,887 | -€30,230 | -16.6% |
| Current assets | 29/58 | €2,287,559 | €2,112,250 | -€175,309 | -7.7% |
| Amounts receivable after more than one year | 29 | €294,965 | - | -€294,965 | |
| Trade receivables | 290 | €294,965 | - | -€294,965 | |
| Stocks and contracts in progress | 3 | €201,699 | €201,699 | = | 0.0% |
| Stocks | 30/36 | €111,699 | €111,699 | = | 0.0% |
| Contracts in progress | 37 | €90,000 | €90,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,751,983 | €1,905,895 | +€153,911 | +8.8% |
| Trade receivables | 40 | €477,414 | €461,729 | -€15,685 | -3.3% |
| Other amounts receivable | 41 | €1,274,569 | €1,444,165 | +€169,596 | +13.3% |
| Cash at bank and in hand | 54/58 | €32,480 | €4,656 | -€27,824 | -85.7% |
| Deferred charges and accrued income | 490/1 | €6,432 | - | -€6,432 | |
| Total equity and liabilities | 10/49 | €2,705,493 | €2,403,545 | -€301,948 | -11.2% |
| Equity | 10/15 | €690,380 | €457,062 | -€233,318 | -33.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,237,693 | €2,237,693 | = | 0.0% |
| Non-distributable reserves | 130/1 | €201,860 | €201,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €201,860 | €201,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,809,724 | €1,809,724 | = | 0.0% |
| Distributable reserves | 133 | €226,109 | €226,109 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,576,712 | -€1,799,231 | -€222,519 | -14.1% |
| Investment grants | 15 | €10,799 | - | -€10,799 | |
| Amounts payable | 17/49 | €2,015,113 | €1,946,483 | -€68,630 | -3.4% |
| Amounts payable after more than one year | 17 | €65,385 | €65,385 | = | 0.0% |
| Financial debts | 170/4 | €65,385 | €65,385 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,947,977 | €1,881,097 | -€66,879 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €39,007 | €8,829 | -€30,178 | -77.4% |
| Financial debts | 43 | €200,000 | €195,744 | -€4,256 | -2.1% |
| Credit institutions | 430/8 | €200,000 | €195,744 | -€4,256 | -2.1% |
| Trade debts | 44 | €1,506,465 | €1,348,475 | -€157,990 | -10.5% |
| Suppliers | 440/4 | €1,506,465 | €1,348,475 | -€157,990 | -10.5% |
| Taxes, remuneration and social security | 45 | €151,968 | €278,417 | +€126,449 | +83.2% |
| Taxes | 450/3 | €15,396 | €10,332 | -€5,064 | -32.9% |
| Remuneration and social security | 454/9 | €136,572 | €268,085 | +€131,513 | +96.3% |
| Other amounts payable | 47/48 | €50,536 | €49,632 | -€904 | -1.8% |
| Accrued charges and deferred income | 492/3 | €1,751 | - | -€1,751 | |
| Non-recurring operating income | 76A | €12,019 | €1,360 | -€10,658 | -88.7% |
| Remuneration, social security and pensions | 62 | €1,037,330 | €1,083,995 | +€46,665 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,069 | €99,352 | -€717 | -0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,129 | - | -€12,129 | |
| Other operating charges | 640/8 | €85,967 | €74,000 | -€11,967 | -13.9% |
| Non-recurring operating charges | 66A | €17,799 | €7,860 | -€9,939 | -55.8% |
| Gross operating margin | 9900 | €1,606,898 | €1,376,960 | -€229,938 | -14.3% |
| Operating profit (loss) | 9901 | €353,604 | €111,753 | -€241,851 | -68.4% |
| Financial income | 75/76B | €11,452 | €11,795 | +€344 | +3.0% |
| Recurring financial income | 75 | €11,452 | €11,795 | +€344 | +3.0% |
| Financial charges | 65/66B | €78,787 | €352,049 | +€273,262 | +346.8% |
| Recurring financial charges | 65 | €78,787 | €57,084 | -€21,703 | -27.5% |
| Non-recurring financial charges | 66B | - | €294,965 | +€294,965 | |
| Profit (loss) for the period before taxes | 9903 | €286,269 | -€228,500 | -€514,769 | |
| Income taxes | 67/77 | €134 | -€114 | -€247 | |
| Profit (loss) for the period | 9904 | €286,136 | -€228,386 | -€514,521 | |
| Profit (loss) for the period to be appropriated | 9905 | €286,136 | -€228,386 | -€514,521 |
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 9 October 2026 via checked.be.