KAOZ: 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.
KAOZ
Largest movements
- Tangible fixed assets -€15,353
down €15,353 (-18.0%), from €85,116 to €69,763
of which Furniture and vehicles: -€18,501
- Cash -€12,785
down €12,785 (-15.7%), from €81,600 to €68,814
mainly Contributions, distributions and other (-€59,126) and Debts after one year (-€16,217)
- Debts after one year -€16,217
down €16,217 (-36.3%), from €44,682 to €28,465
- Reserves -€12,286
down €12,286 (-5.2%), from €238,555 to €226,269
- Gross operating margin +€40,545
up €40,545 (+71.8%), from €56,458 to €97,003
- Taxes +€10,460
up €10,460 (+100%), from €10,440 to €20,900
- Financial income -€4,522
down €4,522 (-69.4%), from €6,512 to €1,990
- Financial charges -€2,938
down €2,938 (-56.8%), from €5,172 to €2,234
- Depreciation +€1,491
up €1,491 (+5.6%), from €26,564 to €28,056
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 | €363,373 | €333,282 | -€30,091 | -8.3% |
| Fixed assets | 21/28 | €85,116 | €69,763 | -€15,353 | -18.0% |
| Tangible fixed assets | 22/27 | €85,116 | €69,763 | -€15,353 | -18.0% |
| Land and buildings | 22 | €12,315 | €12,249 | -€66 | -0.5% |
| Plant, machinery and equipment | 23 | €1,252 | €4,466 | +€3,214 | +257% |
| Furniture and vehicles | 24 | €71,549 | €53,048 | -€18,501 | -25.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €278,256 | €263,519 | -€14,737 | -5.3% |
| Amounts receivable within one year | 40/41 | €7,931 | €4,765 | -€3,167 | -39.9% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €7,931 | €4,765 | -€3,167 | -39.9% |
| Current investments | 50/53 | €188,725 | €189,940 | +€1,214 | +0.6% |
| Cash at bank and in hand | 54/58 | €81,600 | €68,814 | -€12,785 | -15.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €363,373 | €333,282 | -€30,091 | -8.3% |
| Equity | 10/15 | €281,489 | €269,203 | -€12,286 | -4.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €238,555 | €226,269 | -€12,286 | -5.2% |
| Distributable reserves | 133 | €238,555 | €226,269 | -€12,286 | -5.2% |
| Profit (loss) carried forward | 14 | €36,734 | €36,734 | = | 0.0% |
| Amounts payable | 17/49 | €81,884 | €64,079 | -€17,804 | -21.7% |
| Amounts payable after more than one year | 17 | €44,682 | €28,465 | -€16,217 | -36.3% |
| Financial debts | 170/4 | €44,682 | €28,465 | -€16,217 | -36.3% |
| Amounts payable within one year | 42/48 | €37,202 | €35,614 | -€1,587 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €15,601 | €16,217 | +€616 | +3.9% |
| Trade debts | 44 | €6,216 | €2,783 | -€3,433 | -55.2% |
| Suppliers | 440/4 | €6,216 | €2,783 | -€3,433 | -55.2% |
| Taxes, remuneration and social security | 45 | €11,044 | €13,785 | +€2,740 | +24.8% |
| Taxes | 450/3 | €11,044 | €13,785 | +€2,740 | +24.8% |
| Other amounts payable | 47/48 | €4,340 | €2,830 | -€1,511 | -34.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,564 | €28,056 | +€1,491 | +5.6% |
| Other operating charges | 640/8 | €1,033 | €963 | -€70 | -6.8% |
| Gross operating margin | 9900 | €56,458 | €97,003 | +€40,545 | +71.8% |
| Operating profit (loss) | 9901 | €28,860 | €67,984 | +€39,124 | +136% |
| Financial income | 75/76B | €6,512 | €1,990 | -€4,522 | -69.4% |
| Recurring financial income | 75 | €6,512 | €1,990 | -€4,522 | -69.4% |
| Financial charges | 65/66B | €5,172 | €2,234 | -€2,938 | -56.8% |
| Recurring financial charges | 65 | €5,172 | €2,234 | -€2,938 | -56.8% |
| Profit (loss) for the period before taxes | 9903 | €30,199 | €67,739 | +€37,540 | +124% |
| Income taxes | 67/77 | €10,440 | €20,900 | +€10,460 | +100% |
| Profit (loss) for the period | 9904 | €19,759 | €46,840 | +€27,080 | +137% |
| Profit (loss) for the period to be appropriated | 9905 | €19,759 | €46,840 | +€27,080 | +137% |
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 16 October 2026 via checked.be.