K.D.: 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.
K.D.
Largest movements
- Receivables within one year -€34,657
down €34,657 (-46.7%), from €74,189 to €39,532
of which Other amounts receivable: -€18,230
- Reserves -€14,436
down €14,436 (-3.5%), from €412,413 to €397,977
- Other debts +€11,992
new in 2025: €11,992
- Trade debts -€11,946
down €11,946 (-85.9%), from €13,909 to €1,963
- Debts after one year -€11,852
down €11,852 (-28.6%), from €41,397 to €29,545
- Tax, wage and social debts -€5,246
down €5,246 (-93.7%), from €5,600 to €354
- Gross operating margin -€60,177
down €60,177, from €49,949 to -€10,227
- Depreciation -€31,634
down €31,634 (-97.0%), from €32,607 to €973
- Other operating charges -€4,266
down €4,266 (-95.6%), from €4,464 to €198
- Financial charges -€2,201
down €2,201 (-41.5%), from €5,299 to €3,098
- Financial income -€890
down €890 (-68.2%), from €1,305 to €415
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.
Cash bridge derived
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 | €490,929 | €460,110 | -€30,819 | -6.3% |
| Fixed assets | 21/28 | €702 | €2,769 | +€2,067 | +294.5% |
| Tangible fixed assets | 22/27 | €702 | €2,769 | +€2,067 | +294.5% |
| Plant, machinery and equipment | 23 | €702 | €0 | -€702 | -100.0% |
| Furniture and vehicles | 24 | - | €2,769 | +€2,769 | |
| Current assets | 29/58 | €490,228 | €457,341 | -€32,886 | -6.7% |
| Amounts receivable after more than one year | 29 | €411,400 | €411,400 | = | 0.0% |
| Trade receivables | 290 | €411,400 | €0 | -€411,400 | -100.0% |
| Other amounts receivable | 291 | - | €411,400 | +€411,400 | |
| Amounts receivable within one year | 40/41 | €74,189 | €39,532 | -€34,657 | -46.7% |
| Trade receivables | 40 | €45,091 | €28,665 | -€16,427 | -36.4% |
| Other amounts receivable | 41 | €29,098 | €10,868 | -€18,230 | -62.7% |
| Current investments | 50/53 | €34 | €0 | -€34 | -100.0% |
| Cash at bank and in hand | 54/58 | €3,299 | €6,002 | +€2,704 | +82.0% |
| Deferred charges and accrued income | 490/1 | €1,305 | €407 | -€899 | -68.8% |
| Total equity and liabilities | 10/49 | €490,929 | €460,110 | -€30,819 | -6.3% |
| Equity | 10/15 | €418,613 | €404,177 | -€14,436 | -3.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €412,413 | €397,977 | -€14,436 | -3.5% |
| Distributable reserves | 133 | €412,413 | €397,977 | -€14,436 | -3.5% |
| Amounts payable | 17/49 | €72,317 | €55,933 | -€16,384 | -22.7% |
| Amounts payable after more than one year | 17 | €41,397 | €29,545 | -€11,852 | -28.6% |
| Financial debts | 170/4 | €41,397 | €29,545 | -€11,852 | -28.6% |
| Amounts payable within one year | 42/48 | €30,920 | €26,388 | -€4,532 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | €11,352 | €11,852 | +€499 | +4.4% |
| Financial debts | 43 | €59 | €227 | +€168 | +284.3% |
| Credit institutions | 430/8 | €59 | €227 | +€168 | +284.3% |
| Trade debts | 44 | €13,909 | €1,963 | -€11,946 | -85.9% |
| Suppliers | 440/4 | €13,909 | €1,963 | -€11,946 | -85.9% |
| Taxes, remuneration and social security | 45 | €5,600 | €354 | -€5,246 | -93.7% |
| Taxes | 450/3 | €5,600 | €354 | -€5,246 | -93.7% |
| Other amounts payable | 47/48 | - | €11,992 | +€11,992 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,607 | €973 | -€31,634 | -97.0% |
| Other operating charges | 640/8 | €4,464 | €198 | -€4,266 | -95.6% |
| Gross operating margin | 9900 | €49,949 | -€10,227 | -€60,177 | |
| Operating profit (loss) | 9901 | €12,878 | -€11,399 | -€24,276 | |
| Financial income | 75/76B | €1,305 | €415 | -€890 | -68.2% |
| Recurring financial income | 75 | €1,305 | €415 | -€890 | -68.2% |
| Financial charges | 65/66B | €5,299 | €3,098 | -€2,201 | -41.5% |
| Recurring financial charges | 65 | €5,299 | €3,098 | -€2,201 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €8,884 | -€14,081 | -€22,966 | |
| Income taxes | 67/77 | €660 | €354 | -€305 | -46.3% |
| Profit (loss) for the period | 9904 | €8,225 | -€14,436 | -€22,660 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,225 | -€14,436 | -€22,660 |
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 11 October 2026 via checked.be.