Kwaito: 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.
Kwaito
Largest movements
- Current investments -€30,000
down €30,000 (-9.1%), from €330,000 to €300,000
- Tangible fixed assets +€29,107
up €29,107 (+5,339%), from €545 to €29,652
of which Assets under construction and advance payments: +€28,649
- Receivables within one year -€7,938
down €7,938 (-7.8%), from €101,750 to €93,813
of which Other amounts receivable: -€12,500
- Accrued charges and deferred income -€20,877
down €20,877 (-5.1%), from €412,010 to €391,133
- Trade debts +€5,740
up €5,740 (+106%), from €5,424 to €11,164
- Staff costs +€5,779
up €5,779 (+5.3%), from €108,816 to €114,595
- Financial income -€1,598
down €1,598 (-24.8%), from €6,433 to €4,835
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 | €479,550 | €467,786 | -€11,764 | -2.5% |
| Fixed assets | 21/28 | €545 | €29,652 | +€29,107 | +5,339% |
| Tangible fixed assets | 22/27 | €545 | €29,652 | +€29,107 | +5,339% |
| Plant, machinery and equipment | 23 | €545 | €1,003 | +€458 | +84.0% |
| Assets under construction and advance payments | 27 | - | €28,649 | +€28,649 | |
| Current assets | 29/58 | €479,005 | €438,134 | -€40,871 | -8.5% |
| Amounts receivable within one year | 40/41 | €101,750 | €93,813 | -€7,938 | -7.8% |
| Trade receivables | 40 | €89,250 | €93,813 | +€4,563 | +5.1% |
| Other amounts receivable | 41 | €12,500 | - | -€12,500 | |
| Current investments | 50/53 | €330,000 | €300,000 | -€30,000 | -9.1% |
| Cash at bank and in hand | 54/58 | €32,706 | €29,593 | -€3,113 | -9.5% |
| Deferred charges and accrued income | 490/1 | €14,549 | €14,729 | +€179 | +1.2% |
| Total equity and liabilities | 10/49 | €479,550 | €467,786 | -€11,764 | -2.5% |
| Equity | 10/15 | €31,850 | €34,087 | +€2,237 | +7.0% |
| Contributions | 10/11 | €37,600 | €37,600 | = | 0.0% |
| Contributions outside capital | 11 | €37,600 | - | -€37,600 | |
| Other | 1109/19 | €37,600 | - | -€37,600 | |
| Profit (loss) carried forward | 14 | -€5,750 | -€3,513 | +€2,237 | +38.9% |
| Amounts payable | 17/49 | €447,701 | €433,699 | -€14,002 | -3.1% |
| Amounts payable within one year | 42/48 | €35,690 | €42,566 | +€6,876 | +19.3% |
| Trade debts | 44 | €5,424 | €11,164 | +€5,740 | +106% |
| Suppliers | 440/4 | €5,424 | €11,164 | +€5,740 | +106% |
| Taxes, remuneration and social security | 45 | €30,266 | €31,402 | +€1,136 | +3.8% |
| Taxes | 450/3 | €5,141 | €5,872 | +€731 | +14.2% |
| Remuneration and social security | 454/9 | €25,126 | €25,531 | +€405 | +1.6% |
| Accrued charges and deferred income | 492/3 | €412,010 | €391,133 | -€20,877 | -5.1% |
| Non-recurring operating income | 76A | - | €234 | +€234 | |
| Remuneration, social security and pensions | 62 | €108,816 | €114,595 | +€5,779 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €350 | €631 | +€281 | +80.5% |
| Other operating charges | 640/8 | €528 | €918 | +€390 | +73.9% |
| Gross operating margin | 9900 | €115,143 | €115,288 | +€145 | +0.1% |
| Operating profit (loss) | 9901 | €5,450 | -€856 | -€6,306 | |
| Financial income | 75/76B | €6,433 | €4,835 | -€1,598 | -24.8% |
| Recurring financial income | 75 | €6,433 | €4,835 | -€1,598 | -24.8% |
| Financial charges | 65/66B | €229 | €229 | = | 0.0% |
| Recurring financial charges | 65 | €229 | €229 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €11,654 | €3,751 | -€7,903 | -67.8% |
| Income taxes | 67/77 | €1,464 | €1,513 | +€49 | +3.3% |
| Profit (loss) for the period | 9904 | €10,190 | €2,237 | -€7,952 | -78.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,190 | €2,237 | -€7,952 | -78.0% |
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 31 October 2026 via checked.be.