KRATOS-MANAGEMENT: 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.
KRATOS-MANAGEMENT
Largest movements
- Current investments -€66,952
down €66,952 (-21.2%), from €315,658 to €248,707
- Cash +€47,335
up €47,335 (+44.5%), from €106,441 to €153,777
mainly Net result for the year (+€77,814) and Current investments (+€66,952)
- Intangible fixed assets -€32,201
down €32,201 (-20.2%), from €159,334 to €127,133
- Tangible fixed assets -€23,067
down €23,067 (-1.4%), from €1.6m to €1.6m
of which Land and buildings: -€23,067
- Reserves +€284,275
up €284,275 (+103%), from €276,200 to €560,475
- Profit (loss) carried forward -€206,461
no longer reported in 2025 (was €206,461)
- Other debts -€114,626
down €114,626 (-11.5%), from €999,359 to €884,732
- Gross operating margin +€187,896
up €187,896, from -€9,194 to €178,702
- Depreciation +€53,597
up €53,597 (+3,206%), from €1,672 to €55,268
- Other operating charges +€14,350
up €14,350 (+1,394%), from €1,030 to €15,379
- Taxes +€11,250
new in 2025: €11,250
- Financial charges +€1,854
up €1,854 (+10.4%), from €17,846 to €19,700
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 | €2,218,850 | €2,152,728 | -€66,122 | -3.0% |
| Fixed assets | 21/28 | €1,766,586 | €1,711,318 | -€55,268 | -3.1% |
| Intangible fixed assets | 21 | €159,334 | €127,133 | -€32,201 | -20.2% |
| Tangible fixed assets | 22/27 | €1,607,252 | €1,584,184 | -€23,067 | -1.4% |
| Land and buildings | 22 | €1,603,757 | €1,580,690 | -€23,067 | -1.4% |
| Assets under construction and advance payments | 27 | €3,495 | €3,495 | = | 0.0% |
| Current assets | 29/58 | €452,264 | €441,410 | -€10,854 | -2.4% |
| Amounts receivable within one year | 40/41 | €26,810 | €36,828 | +€10,018 | +37.4% |
| Trade receivables | 40 | - | €3,173 | +€3,173 | |
| Other amounts receivable | 41 | €26,810 | €33,655 | +€6,846 | +25.5% |
| Current investments | 50/53 | €315,658 | €248,707 | -€66,952 | -21.2% |
| Cash at bank and in hand | 54/58 | €106,441 | €153,777 | +€47,335 | +44.5% |
| Deferred charges and accrued income | 490/1 | €3,355 | €2,099 | -€1,256 | -37.4% |
| Total equity and liabilities | 10/49 | €2,218,850 | €2,152,728 | -€66,122 | -3.0% |
| Equity | 10/15 | €744,661 | €822,475 | +€77,814 | +10.4% |
| Contributions | 10/11 | €262,000 | €262,000 | = | 0.0% |
| Contributions outside capital | 11 | €262,000 | €262,000 | = | 0.0% |
| Other | 1109/19 | €262,000 | €262,000 | = | 0.0% |
| Reserves | 13 | €276,200 | €560,475 | +€284,275 | +103% |
| Distributable reserves | 133 | €276,200 | €560,475 | +€284,275 | +103% |
| Profit (loss) carried forward | 14 | €206,461 | - | -€206,461 | |
| Amounts payable | 17/49 | €1,474,189 | €1,330,253 | -€143,936 | -9.8% |
| Amounts payable after more than one year | 17 | €445,117 | €424,877 | -€20,240 | -4.5% |
| Financial debts | 170/4 | €95,117 | €74,877 | -€20,240 | -21.3% |
| Other amounts payable | 178/9 | €350,000 | €350,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,027,901 | €905,376 | -€122,525 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €19,961 | €20,240 | +€279 | +1.4% |
| Trade debts | 44 | €6,915 | €404 | -€6,511 | -94.2% |
| Suppliers | 440/4 | €6,915 | €404 | -€6,511 | -94.2% |
| Taxes, remuneration and social security | 45 | €1,667 | - | -€1,667 | |
| Taxes | 450/3 | €1,667 | - | -€1,667 | |
| Other amounts payable | 47/48 | €999,359 | €884,732 | -€114,626 | -11.5% |
| Accrued charges and deferred income | 492/3 | €1,171 | - | -€1,171 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,672 | €55,268 | +€53,597 | +3,206% |
| Other operating charges | 640/8 | €1,030 | €15,379 | +€14,350 | +1,394% |
| Gross operating margin | 9900 | -€9,194 | €178,702 | +€187,896 | |
| Operating profit (loss) | 9901 | -€11,895 | €108,055 | +€119,950 | |
| Financial income | 75/76B | €417 | €709 | +€292 | +70.1% |
| Recurring financial income | 75 | €417 | €709 | +€292 | +70.1% |
| Financial charges | 65/66B | €17,846 | €19,700 | +€1,854 | +10.4% |
| Recurring financial charges | 65 | €17,846 | €19,700 | +€1,854 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | -€29,325 | €89,064 | +€118,388 | |
| Income taxes | 67/77 | - | €11,250 | +€11,250 | |
| Profit (loss) for the period | 9904 | -€29,325 | €77,814 | +€107,138 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,325 | €77,814 | +€107,138 |
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 18 October 2026 via checked.be.