M. KABAI: 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.
M. KABAI
Largest movements
- Current investments +€250,000
new in 2025: €250,000
- Cash -€136,765
down €136,765 (-42.8%), from €319,469 to €182,703
mainly Current investments (-€250,000) and Receivables within one year (-€11,344)
- Tangible fixed assets -€13,453
down €13,453 (-29.9%), from €45,050 to €31,597
of which Furniture and vehicles: -€11,419
- Receivables within one year +€11,344
up €11,344 (+37.3%), from €30,408 to €41,751
of which Trade receivables: +€6,664
- Reserves +€122,628
up €122,628 (+48.1%), from €255,126 to €377,754
- Debts after one year -€11,301
down €11,301 (-47.2%), from €23,938 to €12,637
- Gross operating margin -€11,678
down €11,678 (-6.2%), from €188,396 to €176,718
- Taxes -€2,383
down €2,383 (-6.0%), from €40,017 to €37,634
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 | €395,023 | €506,131 | +€111,108 | +28.1% |
| Fixed assets | 21/28 | €45,050 | €31,597 | -€13,453 | -29.9% |
| Tangible fixed assets | 22/27 | €45,050 | €31,597 | -€13,453 | -29.9% |
| Plant, machinery and equipment | 23 | €1,004 | €428 | -€575 | -57.3% |
| Furniture and vehicles | 24 | €34,978 | €23,559 | -€11,419 | -32.6% |
| Other tangible fixed assets | 26 | €9,068 | €7,610 | -€1,458 | -16.1% |
| Current assets | 29/58 | €349,973 | €474,534 | +€124,561 | +35.6% |
| Amounts receivable within one year | 40/41 | €30,408 | €41,751 | +€11,344 | +37.3% |
| Trade receivables | 40 | €17,382 | €24,046 | +€6,664 | +38.3% |
| Other amounts receivable | 41 | €13,026 | €17,706 | +€4,679 | +35.9% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €319,469 | €182,703 | -€136,765 | -42.8% |
| Deferred charges and accrued income | 490/1 | €97 | €79 | -€18 | -18.2% |
| Total equity and liabilities | 10/49 | €395,023 | €506,131 | +€111,108 | +28.1% |
| Equity | 10/15 | €260,126 | €382,754 | +€122,628 | +47.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €255,126 | €377,754 | +€122,628 | +48.1% |
| Distributable reserves | 133 | €255,126 | €377,754 | +€122,628 | +48.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €134,897 | €123,377 | -€11,520 | -8.5% |
| Amounts payable after more than one year | 17 | €23,938 | €12,637 | -€11,301 | -47.2% |
| Financial debts | 170/4 | €23,938 | €12,637 | -€11,301 | -47.2% |
| Amounts payable within one year | 42/48 | €110,610 | €109,895 | -€715 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €10,962 | €11,301 | +€339 | +3.1% |
| Trade debts | 44 | €190 | €858 | +€668 | +353% |
| Suppliers | 440/4 | €190 | €858 | +€668 | +353% |
| Taxes, remuneration and social security | 45 | €98,625 | €97,736 | -€889 | -0.9% |
| Taxes | 450/3 | €95,599 | €94,710 | -€889 | -0.9% |
| Remuneration and social security | 454/9 | €3,026 | €3,026 | = | 0.0% |
| Other amounts payable | 47/48 | €833 | €0 | -€833 | -100% |
| Accrued charges and deferred income | 492/3 | €350 | €845 | +€495 | +142% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,188 | €13,453 | +€264 | +2.0% |
| Other operating charges | 640/8 | €1,534 | €2,662 | +€1,128 | +73.5% |
| Gross operating margin | 9900 | €188,396 | €176,718 | -€11,678 | -6.2% |
| Operating profit (loss) | 9901 | €173,673 | €160,603 | -€13,070 | -7.5% |
| Financial income | 75/76B | €0 | €1,200 | +€1,200 | +12,001,600% |
| Recurring financial income | 75 | €0 | €1,200 | +€1,200 | +12,001,600% |
| Financial charges | 65/66B | €2,212 | €1,540 | -€671 | -30.4% |
| Recurring financial charges | 65 | €2,212 | €1,540 | -€671 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | €171,462 | €160,263 | -€11,199 | -6.5% |
| Income taxes | 67/77 | €40,017 | €37,634 | -€2,383 | -6.0% |
| Profit (loss) for the period | 9904 | €131,444 | €122,628 | -€8,816 | -6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €131,444 | €122,628 | -€8,816 | -6.7% |
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 20 October 2026 via checked.be.