KZOAA: what changed
KZOAA
Largest movements
- Intangible fixed assets -€7,700
down €7,700 (-14.0%), from €54,997 to €47,297
- Cash -€4,322
down €4,322 (-51.3%), from €8,425 to €4,103
mainly Net result for the year (-€17,104) and Investment in fixed assets (net) (-€2,087)
- Stocks and contracts -€2,457
down €2,457 (-24.3%), from €10,124 to €7,667
- Profit (loss) carried forward -€17,104
down €17,104 (-25.1%), from -€68,204 to -€85,309
- Other debts +€2,501
up €2,501 (+1.8%), from €136,803 to €139,304
- Trade debts -€2,057
down €2,057 (-50.6%), from €4,064 to €2,006
- Tax, wage and social debts +€1,607
up €1,607 (+34.5%), from €4,661 to €6,268
- Gross operating margin +€3,991
up €3,991 (+49.6%), from -€8,043 to -€4,052
- Other operating charges +€2,033
up €2,033 (+397%), from €512 to €2,545
- Depreciation -€838
down €838 (-7.5%), from €11,245 to €10,407
- Financial charges -€186
down €186 (-99.9%), from €186 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €78,823 | €63,770 | -€15,054 | -19.1% |
| Fixed assets | 21/28 | €60,274 | €51,954 | -€8,320 | -13.8% |
| Intangible fixed assets | 21 | €54,997 | €47,297 | -€7,700 | -14.0% |
| Tangible fixed assets | 22/27 | €5,277 | €4,657 | -€620 | -11.8% |
| Furniture and vehicles | 24 | €744 | €1,329 | +€585 | +78.6% |
| Other tangible fixed assets | 26 | €4,534 | €3,329 | -€1,205 | -26.6% |
| Current assets | 29/58 | €18,549 | €11,815 | -€6,734 | -36.3% |
| Stocks and contracts in progress | 3 | €10,124 | €7,667 | -€2,457 | -24.3% |
| Stocks | 30/36 | €10,124 | €7,667 | -€2,457 | -24.3% |
| Cash at bank and in hand | 54/58 | €8,425 | €4,103 | -€4,322 | -51.3% |
| Deferred charges and accrued income | 490/1 | - | €45 | +€45 | |
| Total equity and liabilities | 10/49 | €78,823 | €63,770 | -€15,054 | -19.1% |
| Equity | 10/15 | -€66,704 | -€83,809 | -€17,104 | -25.6% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,204 | -€85,309 | -€17,104 | -25.1% |
| Amounts payable | 17/49 | €145,528 | €147,578 | +€2,051 | +1.4% |
| Amounts payable within one year | 42/48 | €145,528 | €147,578 | +€2,051 | +1.4% |
| Trade debts | 44 | €4,064 | €2,006 | -€2,057 | -50.6% |
| Suppliers | 440/4 | €4,064 | €2,006 | -€2,057 | -50.6% |
| Taxes, remuneration and social security | 45 | €4,661 | €6,268 | +€1,607 | +34.5% |
| Taxes | 450/3 | €4,661 | €6,268 | +€1,607 | +34.5% |
| Other amounts payable | 47/48 | €136,803 | €139,304 | +€2,501 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,245 | €10,407 | -€838 | -7.5% |
| Other operating charges | 640/8 | €512 | €2,545 | +€2,033 | +397% |
| Non-recurring operating charges | 66A | - | €12 | +€12 | |
| Gross operating margin | 9900 | -€8,043 | -€4,052 | +€3,991 | +49.6% |
| Operating profit (loss) | 9901 | -€19,800 | -€17,016 | +€2,784 | +14.1% |
| Financial income | 75/76B | €18 | - | -€18 | |
| Recurring financial income | 75 | €18 | - | -€18 | |
| Financial charges | 65/66B | €186 | €0 | -€186 | -99.9% |
| Recurring financial charges | 65 | €186 | €0 | -€186 | -99.9% |
| Profit (loss) for the period before taxes | 9903 | -€19,968 | -€17,016 | +€2,952 | +14.8% |
| Income taxes | 67/77 | €155 | €88 | -€67 | -43.2% |
| Profit (loss) for the period | 9904 | -€20,124 | -€17,104 | +€3,019 | +15.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,124 | -€17,104 | +€3,019 | +15.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.