K.G.R.: what changed
K.G.R.
Largest movements
- Cash -€19,966
down €19,966 (-54.8%), from €36,451 to €16,485
mainly Trade debts (-€20,392) and Tax, wage and social debts (-€13,745)
- Receivables within one year +€10,794
up €10,794 (+92.2%), from €11,712 to €22,506
of which Trade receivables: +€6,455
- Stocks and contracts +€2,892
up €2,892 (+3.2%), from €90,807 to €93,699
- Profit (loss) carried forward +€28,572
up €28,572 (+84.3%), from -€33,884 to -€5,311
- Trade debts -€20,392
down €20,392 (-24.6%), from €82,819 to €62,427
- Tax, wage and social debts -€13,745
down €13,745 (-44.6%), from €30,789 to €17,044
of which Taxes: -€14,037
- Accrued charges and deferred income +€2,509
up €2,509 (+37,231%), from €7 to €2,516
- Advances received -€2,463
down €2,463 (-20.5%), from €12,000 to €9,537
- Gross operating margin +€42,607
up €42,607 (+132%), from €32,294 to €74,901
- Taxes +€9,491
up €9,491 (+2,223%), from €427 to €9,918
- Staff costs +€5,194
up €5,194 (+21.3%), from €24,327 to €29,521
- Other operating charges +€2,501
up €2,501 (+120%), from €2,091 to €4,591
- Financial charges +€1,109
up €1,109 (+115%), from €966 to €2,075
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €143,254 | €136,350 | -€6,904 | -4.8% |
| Fixed assets | 21/28 | €1,382 | €1,149 | -€233 | -16.8% |
| Tangible fixed assets | 22/27 | €1,382 | €1,149 | -€233 | -16.8% |
| Plant, machinery and equipment | 23 | €803 | €634 | -€169 | -21.0% |
| Furniture and vehicles | 24 | €579 | €515 | -€64 | -11.1% |
| Current assets | 29/58 | €141,872 | €135,201 | -€6,672 | -4.7% |
| Stocks and contracts in progress | 3 | €90,807 | €93,699 | +€2,892 | +3.2% |
| Stocks | 30/36 | €90,807 | €93,699 | +€2,892 | +3.2% |
| Amounts receivable within one year | 40/41 | €11,712 | €22,506 | +€10,794 | +92.2% |
| Trade receivables | 40 | €11,712 | €18,167 | +€6,455 | +55.1% |
| Other amounts receivable | 41 | - | €4,338 | +€4,338 | |
| Cash at bank and in hand | 54/58 | €36,451 | €16,485 | -€19,966 | -54.8% |
| Deferred charges and accrued income | 490/1 | €2,903 | €2,511 | -€392 | -13.5% |
| Total equity and liabilities | 10/49 | €143,254 | €136,350 | -€6,904 | -4.8% |
| Equity | 10/15 | €3,099 | €31,671 | +€28,572 | +922% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,383 | €18,383 | = | 0.0% |
| Non-distributable reserves | 130/1 | €951 | €951 | = | 0.0% |
| Reserves not available under the articles | 1311 | €951 | €951 | = | 0.0% |
| Distributable reserves | 133 | €17,431 | €17,431 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,884 | -€5,311 | +€28,572 | +84.3% |
| Amounts payable | 17/49 | €140,155 | €104,679 | -€35,477 | -25.3% |
| Amounts payable within one year | 42/48 | €140,149 | €102,162 | -€37,986 | -27.1% |
| Trade debts | 44 | €82,819 | €62,427 | -€20,392 | -24.6% |
| Suppliers | 440/4 | €82,819 | €62,427 | -€20,392 | -24.6% |
| Advances received on contracts in progress | 46 | €12,000 | €9,537 | -€2,463 | -20.5% |
| Taxes, remuneration and social security | 45 | €30,789 | €17,044 | -€13,745 | -44.6% |
| Taxes | 450/3 | €23,955 | €9,918 | -€14,037 | -58.6% |
| Remuneration and social security | 454/9 | €6,834 | €7,126 | +€292 | +4.3% |
| Other amounts payable | 47/48 | €14,541 | €13,155 | -€1,386 | -9.5% |
| Accrued charges and deferred income | 492/3 | €7 | €2,516 | +€2,509 | +37,231% |
| Remuneration, social security and pensions | 62 | €24,327 | €29,521 | +€5,194 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €231 | €233 | +€2 | +0.7% |
| Other operating charges | 640/8 | €2,091 | €4,591 | +€2,501 | +120% |
| Gross operating margin | 9900 | €32,294 | €74,901 | +€42,607 | +132% |
| Operating profit (loss) | 9901 | €5,645 | €40,556 | +€34,911 | +618% |
| Financial income | 75/76B | €23 | €10 | -€13 | -57.4% |
| Recurring financial income | 75 | €23 | €10 | -€13 | -57.4% |
| Financial charges | 65/66B | €966 | €2,075 | +€1,109 | +115% |
| Recurring financial charges | 65 | €966 | €2,075 | +€1,109 | +115% |
| Profit (loss) for the period before taxes | 9903 | €4,702 | €38,491 | +€33,789 | +719% |
| Income taxes | 67/77 | €427 | €9,918 | +€9,491 | +2,223% |
| Profit (loss) for the period | 9904 | €4,275 | €28,572 | +€24,297 | +568% |
| Profit (loss) for the period to be appropriated | 9905 | €4,275 | €28,572 | +€24,297 | +568% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.