KOZLOWSKI: 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.
KOZLOWSKI
Largest movements
- Cash +€85,804
up €85,804 (+148%), from €58,035 to €143,840
mainly Depreciation (+€75,145) and Receivables within one year (+€44,041)
- Receivables within one year -€44,041
down €44,041 (-59.6%), from €73,836 to €29,795
of which Trade receivables: -€45,641
- Tangible fixed assets +€23,735
up €23,735 (+20.0%), from €118,960 to €142,695
of which Furniture and vehicles: +€41,701
- Debts after one year +€36,610
up €36,610 (+106%), from €34,680 to €71,290
- Profit (loss) carried forward +€27,519
up €27,519 (+21.3%), from €129,098 to €156,616
- Trade debts +€14,876
up €14,876 (+33.3%), from €44,732 to €59,607
- Current portion of long-term debt -€10,274
no longer reported in 2025 (was €10,274)
- Gross operating margin +€78,754
up €78,754 (+185%), from €42,595 to €121,349
- Depreciation +€24,561
up €24,561 (+48.6%), from €50,584 to €75,145
- Other operating charges -€2,935
down €2,935 (-25.9%), from €11,315 to €8,380
- Financial charges +€2,571
up €2,571 (+106%), from €2,423 to €4,995
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 | €252,658 | €318,278 | +€65,621 | +26.0% |
| Fixed assets | 21/28 | €120,786 | €144,644 | +€23,858 | +19.8% |
| Tangible fixed assets | 22/27 | €118,960 | €142,695 | +€23,735 | +20.0% |
| Land and buildings | 22 | €33,487 | €15,280 | -€18,207 | -54.4% |
| Plant, machinery and equipment | 23 | €28,138 | €28,379 | +€241 | +0.9% |
| Furniture and vehicles | 24 | €57,335 | €99,036 | +€41,701 | +72.7% |
| Financial fixed assets | 28 | €1,826 | €1,949 | +€123 | +6.7% |
| Current assets | 29/58 | €131,871 | €173,634 | +€41,763 | +31.7% |
| Amounts receivable within one year | 40/41 | €73,836 | €29,795 | -€44,041 | -59.6% |
| Trade receivables | 40 | €70,557 | €24,916 | -€45,641 | -64.7% |
| Other amounts receivable | 41 | €3,279 | €4,879 | +€1,600 | +48.8% |
| Cash at bank and in hand | 54/58 | €58,035 | €143,840 | +€85,804 | +148% |
| Total equity and liabilities | 10/49 | €252,658 | €318,278 | +€65,621 | +26.0% |
| Equity | 10/15 | €149,558 | €177,076 | +€27,519 | +18.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €129,098 | €156,616 | +€27,519 | +21.3% |
| Amounts payable | 17/49 | €103,100 | €141,202 | +€38,102 | +37.0% |
| Amounts payable after more than one year | 17 | €34,680 | €71,290 | +€36,610 | +106% |
| Financial debts | 170/4 | €34,680 | €71,290 | +€36,610 | +106% |
| Amounts payable within one year | 42/48 | €68,420 | €69,912 | +€1,492 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €10,274 | - | -€10,274 | |
| Trade debts | 44 | €44,732 | €59,607 | +€14,876 | +33.3% |
| Suppliers | 440/4 | €44,732 | €59,607 | +€14,876 | +33.3% |
| Taxes, remuneration and social security | 45 | €13,415 | €10,305 | -€3,110 | -23.2% |
| Taxes | 450/3 | €13,415 | €10,305 | -€3,110 | -23.2% |
| Non-recurring operating income | 76A | €1,540 | €1,600 | +€60 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,584 | €75,145 | +€24,561 | +48.6% |
| Other operating charges | 640/8 | €11,315 | €8,380 | -€2,935 | -25.9% |
| Non-recurring operating charges | 66A | - | €5,372 | +€5,372 | |
| Gross operating margin | 9900 | €42,595 | €121,349 | +€78,754 | +185% |
| Operating profit (loss) | 9901 | -€19,304 | €32,453 | +€51,757 | |
| Financial income | 75/76B | €443 | €60 | -€382 | -86.3% |
| Recurring financial income | 75 | €443 | €60 | -€382 | -86.3% |
| Financial charges | 65/66B | €2,423 | €4,995 | +€2,571 | +106% |
| Recurring financial charges | 65 | €2,423 | €4,995 | +€2,571 | +106% |
| Profit (loss) for the period before taxes | 9903 | -€21,285 | €27,519 | +€48,803 | |
| Profit (loss) for the period | 9904 | -€21,285 | €27,519 | +€48,803 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,285 | €27,519 | +€48,803 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.