KWAGGA: what changed
Two fiscal 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.
KWAGGA
Largest movements
- Cash +€253,642
up €253,642 (+30.9%), from €819,925 to €1.1m
mainly Other debts (+€717,405) and Net result for the year (+€518,304)
- Stocks and contracts +€170,683
up €170,683 (+197.6%), from €86,371 to €257,054
- Receivables within one year -€110,199
down €110,199 (-18.1%), from €608,393 to €498,194
of which Trade receivables: -€111,798
- Tangible fixed assets -€57,958
down €57,958 (-8.3%), from €700,998 to €643,040
- Other debts +€717,405
up €717,405 (+300.1%), from €239,042 to €956,448
- Reserves -€377,305
down €377,305 (-16.4%), from €2.3m to €1.9m
of which Distributable reserves: -€377,305
- Trade debts -€158,083
down €158,083 (-68.1%), from €231,966 to €73,883
- Advances received +€138,176
up €138,176 (+177.1%), from €78,024 to €216,200
- Tax, wage and social debts -€45,421
down €45,421 (-20.8%), from €218,472 to €173,051
of which Taxes: -€45,701
- Gross operating margin -€229,459
down €229,459 (-19.3%), from €1.2m to €961,060
- Taxes -€59,417
down €59,417 (-18.0%), from €330,482 to €271,064
- Staff costs +€17,292
up €17,292 (+15.4%), from €112,262 to €129,554
- Financial charges -€12,068
down €12,068 (-50.4%), from €23,934 to €11,867
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 | €3,151,944 | €3,407,699 | +€255,755 | +8.1% |
| Fixed assets | 21/28 | €724,525 | €660,893 | -€63,632 | -8.8% |
| Intangible fixed assets | 21 | €673 | €0 | -€673 | -100.0% |
| Tangible fixed assets | 22/27 | €700,998 | €643,040 | -€57,958 | -8.3% |
| Land and buildings | 22 | €594,606 | €577,028 | -€17,578 | -3.0% |
| Plant, machinery and equipment | 23 | €14,861 | €4,798 | -€10,063 | -67.7% |
| Furniture and vehicles | 24 | €12,813 | €9,574 | -€3,239 | -25.3% |
| Leasing and similar rights | 25 | €75,435 | €48,802 | -€26,633 | -35.3% |
| Other tangible fixed assets | 26 | €3,283 | €2,838 | -€445 | -13.6% |
| Financial fixed assets | 28 | €22,853 | €17,853 | -€5,000 | -21.9% |
| Current assets | 29/58 | €2,427,419 | €2,746,806 | +€319,387 | +13.2% |
| Stocks and contracts in progress | 3 | €86,371 | €257,054 | +€170,683 | +197.6% |
| Stocks | 30/36 | €86,371 | €257,054 | +€170,683 | +197.6% |
| Amounts receivable within one year | 40/41 | €608,393 | €498,194 | -€110,199 | -18.1% |
| Trade receivables | 40 | €552,003 | €440,205 | -€111,798 | -20.3% |
| Other amounts receivable | 41 | €56,390 | €57,990 | +€1,599 | +2.8% |
| Current investments | 50/53 | €854,787 | €870,595 | +€15,808 | +1.8% |
| Cash at bank and in hand | 54/58 | €819,925 | €1,073,567 | +€253,642 | +30.9% |
| Deferred charges and accrued income | 490/1 | €57,943 | €47,396 | -€10,547 | -18.2% |
| Total equity and liabilities | 10/49 | €3,151,944 | €3,407,699 | +€255,755 | +8.1% |
| Equity | 10/15 | €2,312,765 | €1,935,460 | -€377,305 | -16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,294,087 | €1,916,782 | -€377,305 | -16.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,294,087 | €1,916,782 | -€377,305 | -16.4% |
| Profit (loss) carried forward | 14 | €77 | €77 | = | 0.0% |
| Amounts payable | 17/49 | €839,179 | €1,472,240 | +€633,060 | +75.4% |
| Amounts payable after more than one year | 17 | €49,737 | €30,551 | -€19,186 | -38.6% |
| Financial debts | 170/4 | €49,737 | €30,551 | -€19,186 | -38.6% |
| Amounts payable within one year | 42/48 | €789,443 | €1,438,768 | +€649,326 | +82.3% |
| Current portion of amounts payable after more than one year | 42 | €21,938 | €19,186 | -€2,752 | -12.5% |
| Trade debts | 44 | €231,966 | €73,883 | -€158,083 | -68.1% |
| Suppliers | 440/4 | €231,966 | €73,883 | -€158,083 | -68.1% |
| Advances received on contracts in progress | 46 | €78,024 | €216,200 | +€138,176 | +177.1% |
| Taxes, remuneration and social security | 45 | €218,472 | €173,051 | -€45,421 | -20.8% |
| Taxes | 450/3 | €198,217 | €152,516 | -€45,701 | -23.1% |
| Remuneration and social security | 454/9 | €20,256 | €20,536 | +€280 | +1.4% |
| Other amounts payable | 47/48 | €239,042 | €956,448 | +€717,405 | +300.1% |
| Accrued charges and deferred income | 492/3 | - | €2,921 | +€2,921 | |
| Remuneration, social security and pensions | 62 | €112,262 | €129,554 | +€17,292 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,127 | €60,188 | -€1,939 | -3.1% |
| Other operating charges | 640/8 | €4,388 | €4,575 | +€187 | +4.3% |
| Gross operating margin | 9900 | €1,190,519 | €961,060 | -€229,459 | -19.3% |
| Operating profit (loss) | 9901 | €1,011,741 | €766,743 | -€244,998 | -24.2% |
| Financial income | 75/76B | €22,634 | €34,491 | +€11,858 | +52.4% |
| Recurring financial income | 75 | €22,634 | €34,491 | +€11,858 | +52.4% |
| Financial charges | 65/66B | €23,934 | €11,867 | -€12,068 | -50.4% |
| Recurring financial charges | 65 | €23,934 | €11,867 | -€12,068 | -50.4% |
| Profit (loss) for the period before taxes | 9903 | €1,010,440 | €789,368 | -€221,072 | -21.9% |
| Income taxes | 67/77 | €330,482 | €271,064 | -€59,417 | -18.0% |
| Profit (loss) for the period | 9904 | €679,959 | €518,304 | -€161,655 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €679,959 | €518,304 | -€161,655 | -23.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.