Dr. KHS: 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.
Dr. KHS
Largest movements
- Cash +€100,984
up €100,984 (+127%), from €79,397 to €180,381
mainly Net result for the year (+€70,584) and Debts after one year (+€34,271)
- Receivables within one year +€3,455
new in 2025: €3,455
- Profit (loss) carried forward +€70,584
up €70,584 (+117%), from €60,404 to €130,989
- Debts after one year +€34,271
new in 2025: €34,271
- Tax, wage and social debts -€2,210
down €2,210 (-14.3%), from €15,494 to €13,284
- Gross operating margin +€12,963
up €12,963 (+16.9%), from €76,818 to €89,782
- Taxes +€2,790
up €2,790 (+18.0%), from €15,494 to €18,284
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 | €80,639 | €184,401 | +€103,763 | +129% |
| Fixed assets | 21/28 | €1,241 | €565 | -€676 | -54.5% |
| Tangible fixed assets | 22/27 | €1,241 | €565 | -€676 | -54.5% |
| Plant, machinery and equipment | 23 | €1,241 | €565 | -€676 | -54.5% |
| Current assets | 29/58 | €79,397 | €183,836 | +€104,439 | +132% |
| Amounts receivable within one year | 40/41 | - | €3,455 | +€3,455 | |
| Trade receivables | 40 | - | €3,455 | +€3,455 | |
| Cash at bank and in hand | 54/58 | €79,397 | €180,381 | +€100,984 | +127% |
| Total equity and liabilities | 10/49 | €80,639 | €184,401 | +€103,763 | +129% |
| Equity | 10/15 | €62,904 | €133,489 | +€70,584 | +112% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,404 | €130,989 | +€70,584 | +117% |
| Amounts payable | 17/49 | €17,734 | €50,912 | +€33,178 | +187% |
| Amounts payable after more than one year | 17 | - | €34,271 | +€34,271 | |
| Financial debts | 170/4 | - | €34,271 | +€34,271 | |
| Amounts payable within one year | 42/48 | €17,734 | €16,642 | -€1,093 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | - | €729 | +€729 | |
| Trade debts | 44 | €274 | €642 | +€368 | +134% |
| Suppliers | 440/4 | €274 | €642 | +€368 | +134% |
| Taxes, remuneration and social security | 45 | €15,494 | €13,284 | -€2,210 | -14.3% |
| Taxes | 450/3 | €15,494 | €13,284 | -€2,210 | -14.3% |
| Other amounts payable | 47/48 | €1,966 | €1,986 | +€20 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €787 | €676 | -€111 | -14.1% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €76,818 | €89,782 | +€12,963 | +16.9% |
| Operating profit (loss) | 9901 | €75,913 | €88,986 | +€13,072 | +17.2% |
| Financial charges | 65/66B | €15 | €117 | +€102 | +683% |
| Recurring financial charges | 65 | €15 | €117 | +€102 | +683% |
| Profit (loss) for the period before taxes | 9903 | €75,898 | €88,868 | +€12,970 | +17.1% |
| Income taxes | 67/77 | €15,494 | €18,284 | +€2,790 | +18.0% |
| Profit (loss) for the period | 9904 | €60,404 | €70,584 | +€10,180 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €60,404 | €70,584 | +€10,180 | +16.9% |
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 19 October 2026 via checked.be.