Kwa3: 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.
Kwa3
Largest movements
- Tangible fixed assets +€9,085
up €9,085 (+1,775%), from €512 to €9,597
- Cash -€1,344
down €1,344 (-99.3%), from €1,353 to €9
mainly Investment in fixed assets (net) (-€12,042) and Accrued charges and deferred income (-€8,749)
- Receivables within one year -€860
down €860 (-4.2%), from €20,558 to €19,698
of which Trade receivables: -€15,759
- Tax, wage and social debts +€11,582
new in 2025: €11,582
- Accrued charges and deferred income -€8,749
down €8,749 (-100%), from €8,749 to €0
- Profit (loss) carried forward +€2,225
up €2,225 (+11.1%), from €20,017 to €22,242
- Trade debts +€1,870
up €1,870 (+280%), from €668 to €2,538
- Gross operating margin +€36,936
up €36,936, from -€19,035 to €17,901
- Depreciation +€1,328
up €1,328 (+81.6%), from €1,628 to €2,956
- Financial charges -€1,141
down €1,141 (-76.8%), from €1,487 to €346
of which Non-recurring financial charges: -€618
- Other operating charges +€556
up €556 (+97.0%), from €573 to €1,129
- Financial income +€446
up €446 (+36.6%), from €1,219 to €1,665
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 | €74,694 | €81,621 | +€6,927 | +9.3% |
| Fixed assets | 21/28 | €5,512 | €14,597 | +€9,085 | +165% |
| Tangible fixed assets | 22/27 | €512 | €9,597 | +€9,085 | +1,775% |
| Furniture and vehicles | 24 | €512 | €9,597 | +€9,085 | +1,775% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €69,182 | €67,024 | -€2,158 | -3.1% |
| Amounts receivable after more than one year | 29 | €47,000 | €47,000 | = | 0.0% |
| Trade receivables | 290 | - | €47,000 | +€47,000 | |
| Other amounts receivable | 291 | €47,000 | - | -€47,000 | |
| Amounts receivable within one year | 40/41 | €20,558 | €19,698 | -€860 | -4.2% |
| Trade receivables | 40 | €15,759 | €0 | -€15,759 | -100% |
| Other amounts receivable | 41 | €4,799 | €19,698 | +€14,899 | +310% |
| Cash at bank and in hand | 54/58 | €1,353 | €9 | -€1,344 | -99.3% |
| Deferred charges and accrued income | 490/1 | €271 | €317 | +€46 | +17.0% |
| Total equity and liabilities | 10/49 | €74,694 | €81,621 | +€6,927 | +9.3% |
| Equity | 10/15 | €34,277 | €36,502 | +€2,225 | +6.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,017 | €22,242 | +€2,225 | +11.1% |
| Amounts payable | 17/49 | €40,417 | €45,119 | +€4,702 | +11.6% |
| Amounts payable within one year | 42/48 | €31,668 | €45,119 | +€13,451 | +42.5% |
| Trade debts | 44 | €668 | €2,538 | +€1,870 | +280% |
| Suppliers | 440/4 | €668 | €2,538 | +€1,870 | +280% |
| Taxes, remuneration and social security | 45 | - | €11,582 | +€11,582 | |
| Taxes | 450/3 | - | €11,582 | +€11,582 | |
| Other amounts payable | 47/48 | €31,000 | €31,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €8,749 | €0 | -€8,749 | -100% |
| Non-recurring operating income | 76A | €242 | €891 | +€649 | +268% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,628 | €2,956 | +€1,328 | +81.6% |
| Other operating charges | 640/8 | €573 | €1,129 | +€556 | +97.0% |
| Non-recurring operating charges | 66A | - | €12,759 | +€12,759 | |
| Gross operating margin | 9900 | -€19,035 | €17,901 | +€36,936 | |
| Operating profit (loss) | 9901 | -€21,236 | €1,057 | +€22,293 | |
| Financial income | 75/76B | €1,219 | €1,665 | +€446 | +36.6% |
| Recurring financial income | 75 | €1,219 | €1,665 | +€446 | +36.6% |
| Financial charges | 65/66B | €1,487 | €346 | -€1,141 | -76.8% |
| Recurring financial charges | 65 | €869 | €346 | -€523 | -60.2% |
| Non-recurring financial charges | 66B | €618 | - | -€618 | |
| Profit (loss) for the period before taxes | 9903 | -€21,504 | €2,377 | +€23,880 | |
| Income taxes | 67/77 | €239 | €152 | -€88 | -36.6% |
| Profit (loss) for the period | 9904 | -€21,743 | €2,225 | +€23,968 | |
| Transfer from tax-exempt reserves | 789 | €14,412 | - | -€14,412 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,330 | €2,225 | +€9,555 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.