Kwazi: 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.
Kwazi
Largest movements
- Deferred charges and accrued income -€31,995
down €31,995 (-97.1%), from €32,965 to €970
- Cash -€6,829
no longer reported in 2025 (was €6,829)
mainly Net result for the year (-€56,460) and Accrued charges and deferred income (-€32,071)
- Tangible fixed assets -€5,111
down €5,111 (-21.0%), from €24,386 to €19,276
of which Furniture and vehicles: -€4,643
- Receivables within one year +€2,904
up €2,904 (+24.3%), from €11,936 to €14,840
of which Other amounts receivable: +€2,590
- Profit (loss) carried forward -€56,460
new in 2025: -€56,460
- Short-term financial debts +€38,447
new in 2025: €38,447
- Accrued charges and deferred income -€32,071
no longer reported in 2025 (was €32,071)
- Trade debts +€6,840
up €6,840 (+817%), from €838 to €7,677
- Tax, wage and social debts +€4,146
up €4,146 (+59.7%), from €6,945 to €11,090
of which Remuneration and social security: +€3,750
- Gross operating margin -€72,495
down €72,495, from €37,911 to -€34,583
- Taxes -€4,915
down €4,915 (-97.1%), from €5,060 to €145
- Depreciation -€1,717
down €1,717 (-19.6%), from €8,779 to €7,062
- Staff costs +€1,600
new in 2025: €1,600
- Other operating charges -€1,427
down €1,427 (-12.5%), from €11,424 to €9,997
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 | €76,117 | €35,086 | -€41,031 | -53.9% |
| Fixed assets | 21/28 | €24,386 | €19,276 | -€5,111 | -21.0% |
| Tangible fixed assets | 22/27 | €24,386 | €19,276 | -€5,111 | -21.0% |
| Plant, machinery and equipment | 23 | €1,034 | €566 | -€468 | -45.2% |
| Furniture and vehicles | 24 | €23,352 | €18,709 | -€4,643 | -19.9% |
| Current assets | 29/58 | €51,731 | €15,810 | -€35,920 | -69.4% |
| Amounts receivable within one year | 40/41 | €11,936 | €14,840 | +€2,904 | +24.3% |
| Trade receivables | 40 | €10,883 | €11,197 | +€314 | +2.9% |
| Other amounts receivable | 41 | €1,053 | €3,643 | +€2,590 | +246% |
| Cash at bank and in hand | 54/58 | €6,829 | - | -€6,829 | |
| Deferred charges and accrued income | 490/1 | €32,965 | €970 | -€31,995 | -97.1% |
| Total equity and liabilities | 10/49 | €76,117 | €35,086 | -€41,031 | -53.9% |
| Equity | 10/15 | €13,687 | -€42,773 | -€56,460 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €10,687 | €10,687 | = | 0.0% |
| Distributable reserves | 133 | €10,687 | €10,687 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€56,460 | -€56,460 | |
| Amounts payable | 17/49 | €62,430 | €77,859 | +€15,429 | +24.7% |
| Amounts payable after more than one year | 17 | €15,736 | €13,548 | -€2,188 | -13.9% |
| Financial debts | 170/4 | €15,736 | €13,548 | -€2,188 | -13.9% |
| Amounts payable within one year | 42/48 | €14,623 | €64,311 | +€49,688 | +340% |
| Current portion of amounts payable after more than one year | 42 | €6,841 | €7,096 | +€255 | +3.7% |
| Financial debts | 43 | - | €38,447 | +€38,447 | |
| Credit institutions | 430/8 | - | €38,447 | +€38,447 | |
| Trade debts | 44 | €838 | €7,677 | +€6,840 | +817% |
| Suppliers | 440/4 | €838 | €7,677 | +€6,840 | +817% |
| Taxes, remuneration and social security | 45 | €6,945 | €11,090 | +€4,146 | +59.7% |
| Taxes | 450/3 | €6,945 | €7,341 | +€396 | +5.7% |
| Remuneration and social security | 454/9 | - | €3,750 | +€3,750 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €32,071 | - | -€32,071 | |
| Remuneration, social security and pensions | 62 | - | €1,600 | +€1,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,779 | €7,062 | -€1,717 | -19.6% |
| Other operating charges | 640/8 | €11,424 | €9,997 | -€1,427 | -12.5% |
| Gross operating margin | 9900 | €37,911 | -€34,583 | -€72,495 | |
| Operating profit (loss) | 9901 | €17,708 | -€53,242 | -€70,950 | |
| Financial income | 75/76B | €25 | €6 | -€19 | -74.9% |
| Recurring financial income | 75 | €25 | €6 | -€19 | -74.9% |
| Financial charges | 65/66B | €1,986 | €3,079 | +€1,093 | +55.1% |
| Recurring financial charges | 65 | €1,986 | €3,079 | +€1,093 | +55.1% |
| Profit (loss) for the period before taxes | 9903 | €15,748 | -€56,315 | -€72,062 | |
| Income taxes | 67/77 | €5,060 | €145 | -€4,915 | -97.1% |
| Profit (loss) for the period | 9904 | €10,687 | -€56,460 | -€67,147 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,687 | -€56,460 | -€67,147 |
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 15 October 2026 via checked.be.