K & H: 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 & H
Largest movements
- Receivables within one year +€39,292
up €39,292 (+276%), from €14,211 to €53,502
of which Trade receivables: +€32,895
- Cash -€9,536
down €9,536 (-7.5%), from €127,527 to €117,991
mainly Receivables within one year (-€39,292) and Other debts (-€28,373)
- Tangible fixed assets +€4,362
up €4,362 (+110%), from €3,969 to €8,332
- Trade debts +€59,248
up €59,248 (+89.0%), from €66,594 to €125,842
- Other debts -€28,373
down €28,373 (-66.8%), from €42,447 to €14,074
- Staff costs +€84,227
up €84,227 (+373%), from €22,610 to €106,837
- Gross operating margin +€59,298
up €59,298 (+104%), from €56,877 to €116,176
- Taxes -€5,693
down €5,693 (-66.1%), from €8,610 to €2,916
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 | €146,607 | €180,725 | +€34,118 | +23.3% |
| Fixed assets | 21/28 | €4,869 | €9,232 | +€4,362 | +89.6% |
| Tangible fixed assets | 22/27 | €3,969 | €8,332 | +€4,362 | +110% |
| Furniture and vehicles | 24 | €3,969 | €8,332 | +€4,362 | +110% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €141,737 | €171,493 | +€29,756 | +21.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €14,211 | €53,502 | +€39,292 | +276% |
| Trade receivables | 40 | €2,372 | €35,266 | +€32,895 | +1,387% |
| Other amounts receivable | 41 | €11,839 | €18,236 | +€6,397 | +54.0% |
| Cash at bank and in hand | 54/58 | €127,527 | €117,991 | -€9,536 | -7.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €146,607 | €180,725 | +€34,118 | +23.3% |
| Equity | 10/15 | €27,060 | €28,717 | +€1,657 | +6.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €20,860 | €22,517 | +€1,657 | +7.9% |
| Amounts payable | 17/49 | €119,547 | €152,008 | +€32,462 | +27.2% |
| Amounts payable within one year | 42/48 | €119,547 | €152,008 | +€32,462 | +27.2% |
| Current portion of amounts payable after more than one year | 42 | €1,000 | €1,000 | = | 0.0% |
| Trade debts | 44 | €66,594 | €125,842 | +€59,248 | +89.0% |
| Suppliers | 440/4 | €66,594 | €125,842 | +€59,248 | +89.0% |
| Taxes, remuneration and social security | 45 | €9,506 | €11,092 | +€1,587 | +16.7% |
| Taxes | 450/3 | €4,750 | €0 | -€4,750 | -100% |
| Remuneration and social security | 454/9 | €4,756 | €11,092 | +€6,337 | +133% |
| Other amounts payable | 47/48 | €42,447 | €14,074 | -€28,373 | -66.8% |
| Remuneration, social security and pensions | 62 | €22,610 | €106,837 | +€84,227 | +373% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,610 | €2,903 | -€707 | -19.6% |
| Other operating charges | 640/8 | €2,938 | €2,133 | -€805 | -27.4% |
| Gross operating margin | 9900 | €56,877 | €116,176 | +€59,298 | +104% |
| Operating profit (loss) | 9901 | €27,719 | €4,302 | -€23,417 | -84.5% |
| Financial income | 75/76B | €46 | €369 | +€323 | +701% |
| Recurring financial income | 75 | €46 | €369 | +€323 | +701% |
| Financial charges | 65/66B | €126 | €99 | -€28 | -21.9% |
| Recurring financial charges | 65 | €126 | €99 | -€28 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €27,639 | €4,573 | -€23,066 | -83.5% |
| Income taxes | 67/77 | €8,610 | €2,916 | -€5,693 | -66.1% |
| Profit (loss) for the period | 9904 | €19,029 | €1,657 | -€17,372 | -91.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,029 | €1,657 | -€17,372 | -91.3% |
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.