KWAFFEUR: 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.
KWAFFEUR
Largest movements
- Intangible fixed assets -€18,000
down €18,000 (-17.7%), from €101,934 to €83,934
- Receivables within one year -€17,208
down €17,208 (-17.8%), from €96,621 to €79,413
of which Trade receivables: -€16,093
- Tangible fixed assets -€14,168
down €14,168 (-8.2%), from €172,560 to €158,392
of which Land and buildings: -€7,200
- Stocks and contracts +€6,042
up €6,042 (+378%), from €1,600 to €7,642
- Cash +€5,937
up €5,937 (+116%), from €5,130 to €11,067
mainly Depreciation (+€32,168) and Receivables within one year (+€17,208)
- Trade debts -€23,870
down €23,870 (-96.9%), from €24,626 to €755
- Debts after one year -€22,938
down €22,938 (-10.7%), from €215,301 to €192,363
- Reserves +€16,081
up €16,081 (+16.5%), from €97,700 to €113,781
- Tax, wage and social debts -€6,302
down €6,302 (-35.2%), from €17,907 to €11,605
of which Taxes: -€6,212
- Gross operating margin -€20,199
down €20,199 (-21.7%), from €92,876 to €72,677
- Other operating charges -€17,379
down €17,379 (-82.8%), from €20,987 to €3,608
- Depreciation +€6,685
up €6,685 (+26.2%), from €25,483 to €32,168
- Staff costs -€4,103
down €4,103 (-27.0%), from €15,171 to €11,068
- Taxes -€2,315
down €2,315 (-26.6%), from €8,700 to €6,385
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 | €386,157 | €348,000 | -€38,157 | -9.9% |
| Fixed assets | 21/28 | €278,939 | €246,771 | -€32,168 | -11.5% |
| Intangible fixed assets | 21 | €101,934 | €83,934 | -€18,000 | -17.7% |
| Tangible fixed assets | 22/27 | €172,560 | €158,392 | -€14,168 | -8.2% |
| Land and buildings | 22 | €141,061 | €133,861 | -€7,200 | -5.1% |
| Plant, machinery and equipment | 23 | €29,744 | €23,494 | -€6,250 | -21.0% |
| Furniture and vehicles | 24 | €1,754 | €1,037 | -€718 | -40.9% |
| Financial fixed assets | 28 | €4,445 | €4,445 | = | 0.0% |
| Current assets | 29/58 | €107,218 | €101,229 | -€5,989 | -5.6% |
| Stocks and contracts in progress | 3 | €1,600 | €7,642 | +€6,042 | +378% |
| Stocks | 30/36 | €1,600 | €7,642 | +€6,042 | +378% |
| Amounts receivable within one year | 40/41 | €96,621 | €79,413 | -€17,208 | -17.8% |
| Trade receivables | 40 | €16,093 | - | -€16,093 | |
| Other amounts receivable | 41 | €80,528 | €79,413 | -€1,115 | -1.4% |
| Cash at bank and in hand | 54/58 | €5,130 | €11,067 | +€5,937 | +116% |
| Deferred charges and accrued income | 490/1 | €3,867 | €3,108 | -€760 | -19.6% |
| Total equity and liabilities | 10/49 | €386,157 | €348,000 | -€38,157 | -9.9% |
| Equity | 10/15 | €101,847 | €117,928 | +€16,081 | +15.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €97,700 | €113,781 | +€16,081 | +16.5% |
| Distributable reserves | 133 | €97,700 | €113,781 | +€16,081 | +16.5% |
| Profit (loss) carried forward | 14 | €147 | €147 | = | 0.0% |
| Amounts payable | 17/49 | €284,309 | €230,072 | -€54,237 | -19.1% |
| Amounts payable after more than one year | 17 | €215,301 | €192,363 | -€22,938 | -10.7% |
| Financial debts | 170/4 | €215,301 | €192,363 | -€22,938 | -10.7% |
| Amounts payable within one year | 42/48 | €69,009 | €37,709 | -€31,300 | -45.4% |
| Current portion of amounts payable after more than one year | 42 | €26,476 | €25,349 | -€1,127 | -4.3% |
| Trade debts | 44 | €24,626 | €755 | -€23,870 | -96.9% |
| Suppliers | 440/4 | €24,626 | €755 | -€23,870 | -96.9% |
| Taxes, remuneration and social security | 45 | €17,907 | €11,605 | -€6,302 | -35.2% |
| Taxes | 450/3 | €17,722 | €11,510 | -€6,212 | -35.1% |
| Remuneration and social security | 454/9 | €185 | €95 | -€90 | -48.7% |
| Remuneration, social security and pensions | 62 | €15,171 | €11,068 | -€4,103 | -27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,483 | €32,168 | +€6,685 | +26.2% |
| Other operating charges | 640/8 | €20,987 | €3,608 | -€17,379 | -82.8% |
| Gross operating margin | 9900 | €92,876 | €72,677 | -€20,199 | -21.7% |
| Operating profit (loss) | 9901 | €31,235 | €25,834 | -€5,401 | -17.3% |
| Financial income | 75/76B | €2,739 | €3,186 | +€447 | +16.3% |
| Recurring financial income | 75 | €2,739 | €3,186 | +€447 | +16.3% |
| Financial charges | 65/66B | €4,755 | €6,554 | +€1,799 | +37.8% |
| Recurring financial charges | 65 | €4,755 | €6,554 | +€1,799 | +37.8% |
| Profit (loss) for the period before taxes | 9903 | €29,219 | €22,466 | -€6,754 | -23.1% |
| Income taxes | 67/77 | €8,700 | €6,385 | -€2,315 | -26.6% |
| Profit (loss) for the period | 9904 | €20,519 | €16,081 | -€4,439 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,519 | €16,081 | -€4,439 | -21.6% |
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 13 October 2026 via checked.be.