K.S.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.S.H.
Largest movements
- Receivables within one year +€42,057
up €42,057 (+152%), from €27,593 to €69,650
of which Other amounts receivable: +€27,645
- Tangible fixed assets -€15,598
down €15,598 (-22.4%), from €69,758 to €54,160
of which Furniture and vehicles: -€17,726
- Cash +€5,000
up €5,000 (+8.2%), from €61,340 to €66,340
mainly Depreciation (+€19,859) and Net result for the year (+€16,559)
- Profit (loss) carried forward +€16,559
up €16,559 (+12.6%), from €131,602 to €148,161
- Tax, wage and social debts +€13,737
up €13,737 (+160%), from €8,562 to €22,299
of which Taxes: +€14,937
- Gross operating margin -€57,969
down €57,969 (-61.8%), from €93,738 to €35,769
- Taxes -€5,565
no longer reported in 2025 (was €5,565)
- Depreciation -€5,470
down €5,470 (-21.6%), from €25,329 to €19,859
- Financial income -€5,150
down €5,150 (-75.5%), from €6,821 to €1,671
- Staff costs -€2,770
no longer reported in 2025 (was €2,770)
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 | €165,866 | €197,326 | +€31,460 | +19.0% |
| Fixed assets | 21/28 | €69,758 | €54,160 | -€15,598 | -22.4% |
| Tangible fixed assets | 22/27 | €69,758 | €54,160 | -€15,598 | -22.4% |
| Plant, machinery and equipment | 23 | €4,977 | €7,105 | +€2,128 | +42.8% |
| Furniture and vehicles | 24 | €64,781 | €47,055 | -€17,726 | -27.4% |
| Current assets | 29/58 | €96,108 | €143,166 | +€47,058 | +49.0% |
| Stocks and contracts in progress | 3 | €7,175 | €7,176 | +€1 | 0.0% |
| Stocks | 30/36 | €7,175 | €7,176 | +€1 | 0.0% |
| Amounts receivable within one year | 40/41 | €27,593 | €69,650 | +€42,057 | +152% |
| Trade receivables | 40 | €10,588 | €25,000 | +€14,412 | +136% |
| Other amounts receivable | 41 | €17,005 | €44,650 | +€27,645 | +163% |
| Cash at bank and in hand | 54/58 | €61,340 | €66,340 | +€5,000 | +8.2% |
| Total equity and liabilities | 10/49 | €165,866 | €197,326 | +€31,460 | +19.0% |
| Equity | 10/15 | €137,102 | €153,661 | +€16,559 | +12.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | - | -€5,000 | |
| Issued capital | 100 | €5,000 | - | -€5,000 | |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Legal reserve | 130 | €500 | - | -€500 | |
| Reserves not available under the articles | 1311 | - | €500 | +€500 | |
| Profit (loss) carried forward | 14 | €131,602 | €148,161 | +€16,559 | +12.6% |
| Amounts payable | 17/49 | €28,764 | €43,664 | +€14,900 | +51.8% |
| Amounts payable within one year | 42/48 | €28,764 | €43,664 | +€14,900 | +51.8% |
| Trade debts | 44 | €20,202 | €21,365 | +€1,163 | +5.8% |
| Suppliers | 440/4 | €20,202 | €21,365 | +€1,163 | +5.8% |
| Taxes, remuneration and social security | 45 | €8,562 | €22,299 | +€13,737 | +160% |
| Taxes | 450/3 | €7,362 | €22,299 | +€14,937 | +203% |
| Remuneration and social security | 454/9 | €1,200 | - | -€1,200 | |
| Remuneration, social security and pensions | 62 | €2,770 | - | -€2,770 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,329 | €19,859 | -€5,470 | -21.6% |
| Other operating charges | 640/8 | €866 | €1,022 | +€156 | +18.0% |
| Gross operating margin | 9900 | €93,738 | €35,769 | -€57,969 | -61.8% |
| Operating profit (loss) | 9901 | €64,773 | €14,888 | -€49,885 | -77.0% |
| Financial income | 75/76B | €6,821 | €1,671 | -€5,150 | -75.5% |
| Recurring financial income | 75 | €6,821 | €1,671 | -€5,150 | -75.5% |
| Financial charges | 65/66B | €82 | - | -€82 | |
| Recurring financial charges | 65 | €82 | - | -€82 | |
| Profit (loss) for the period before taxes | 9903 | €71,512 | €16,559 | -€54,953 | -76.8% |
| Income taxes | 67/77 | €5,565 | - | -€5,565 | |
| Profit (loss) for the period | 9904 | €65,947 | €16,559 | -€49,388 | -74.9% |
| Profit (loss) for the period to be appropriated | 9905 | €65,947 | €16,559 | -€49,388 | -74.9% |
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 22 October 2026 via checked.be.