K.R.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.R.D.
Largest movements
- Tangible fixed assets -€41,111
down €41,111 (-17.4%), from €236,846 to €195,735
of which Furniture and vehicles: -€47,352
- Cash -€31,007
down €31,007 (-12.2%), from €254,620 to €223,613
mainly Contributions, distributions and other (-€186,869) and Trade debts (-€87,440)
- Receivables within one year -€11,482
down €11,482 (-3.4%), from €342,229 to €330,748
of which Other amounts receivable: -€18,435
- Trade debts -€87,440
down €87,440 (-74.7%), from €117,115 to €29,675
- Other debts +€32,870
up €32,870 (+7.3%), from €450,549 to €483,419
- Tax, wage and social debts -€25,339
down €25,339 (-24.3%), from €104,097 to €78,758
of which Taxes: -€15,269
- Gross operating margin -€178,425
down €178,425 (-18.2%), from €982,570 to €804,145
- Staff costs -€68,260
down €68,260 (-12.3%), from €557,194 to €488,935
- Taxes -€19,961
down €19,961 (-22.0%), from €90,575 to €70,615
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 | €867,535 | €791,306 | -€76,229 | -8.8% |
| Fixed assets | 21/28 | €236,846 | €195,735 | -€41,111 | -17.4% |
| Tangible fixed assets | 22/27 | €236,846 | €195,735 | -€41,111 | -17.4% |
| Land and buildings | 22 | €2,611 | - | -€2,611 | |
| Plant, machinery and equipment | 23 | €903 | €166 | -€737 | -81.6% |
| Furniture and vehicles | 24 | €195,146 | €147,793 | -€47,352 | -24.3% |
| Other tangible fixed assets | 26 | €38,187 | €47,775 | +€9,589 | +25.1% |
| Current assets | 29/58 | €630,689 | €595,571 | -€35,118 | -5.6% |
| Stocks and contracts in progress | 3 | €29,255 | €31,442 | +€2,188 | +7.5% |
| Stocks | 30/36 | €29,255 | €31,442 | +€2,188 | +7.5% |
| Amounts receivable within one year | 40/41 | €342,229 | €330,748 | -€11,482 | -3.4% |
| Trade receivables | 40 | €183,470 | €190,424 | +€6,954 | +3.8% |
| Other amounts receivable | 41 | €158,759 | €140,323 | -€18,435 | -11.6% |
| Cash at bank and in hand | 54/58 | €254,620 | €223,613 | -€31,007 | -12.2% |
| Deferred charges and accrued income | 490/1 | €4,586 | €9,769 | +€5,183 | +113% |
| Total equity and liabilities | 10/49 | €867,535 | €791,306 | -€76,229 | -8.8% |
| Equity | 10/15 | €194,274 | €197,954 | +€3,680 | +1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €175,674 | €179,354 | +€3,680 | +2.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €173,814 | €177,494 | +€3,680 | +2.1% |
| Amounts payable | 17/49 | €673,261 | €593,352 | -€79,909 | -11.9% |
| Amounts payable within one year | 42/48 | €671,761 | €591,852 | -€79,909 | -11.9% |
| Trade debts | 44 | €117,115 | €29,675 | -€87,440 | -74.7% |
| Suppliers | 440/4 | €117,115 | €29,675 | -€87,440 | -74.7% |
| Taxes, remuneration and social security | 45 | €104,097 | €78,758 | -€25,339 | -24.3% |
| Taxes | 450/3 | €15,269 | - | -€15,269 | |
| Remuneration and social security | 454/9 | €88,827 | €78,758 | -€10,070 | -11.3% |
| Other amounts payable | 47/48 | €450,549 | €483,419 | +€32,870 | +7.3% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €557,194 | €488,935 | -€68,260 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,825 | €72,144 | +€4,318 | +6.4% |
| Other operating charges | 640/8 | €5,285 | €5,061 | -€224 | -4.2% |
| Non-recurring operating charges | 66A | €31,252 | - | -€31,252 | |
| Gross operating margin | 9900 | €982,570 | €804,145 | -€178,425 | -18.2% |
| Operating profit (loss) | 9901 | €321,013 | €238,005 | -€83,008 | -25.9% |
| Financial income | 75/76B | €25,309 | €23,262 | -€2,047 | -8.1% |
| Recurring financial income | 75 | €25,309 | €23,262 | -€2,047 | -8.1% |
| Financial charges | 65/66B | €122 | €104 | -€19 | -15.1% |
| Recurring financial charges | 65 | €122 | €104 | -€19 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €346,199 | €261,163 | -€85,037 | -24.6% |
| Income taxes | 67/77 | €90,575 | €70,615 | -€19,961 | -22.0% |
| Profit (loss) for the period | 9904 | €255,624 | €190,548 | -€65,076 | -25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €255,624 | €190,548 | -€65,076 | -25.5% |
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 1 November 2026 via checked.be.