KB: 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.
KB
Largest movements
- Receivables after one year +€37,018
up €37,018 (+9.3%), from €396,553 to €433,571
- Cash -€13,723
down €13,723 (-96.2%), from €14,270 to €547
mainly Receivables after one year (-€37,018) and Current portion of long-term debt (-€28,964)
- Tangible fixed assets -€6,829
down €6,829 (-23.4%), from €29,203 to €22,374
of which Other tangible fixed assets: -€6,300
- Profit (loss) carried forward +€36,677
up €36,677 (+9.6%), from €383,873 to €420,550
- Current portion of long-term debt -€28,964
no longer reported in 2025 (was €28,964)
- Accrued charges and deferred income +€10,916
new in 2025: €10,916
- Tax, wage and social debts -€5,895
down €5,895 (-73.3%), from €8,043 to €2,148
- Trade debts +€4,796
up €4,796 (+55.6%), from €8,627 to €13,423
- Gross operating margin -€17,720
down €17,720 (-25.3%), from €70,050 to €52,330
- Taxes -€3,272
down €3,272 (-16.6%), from €19,664 to €16,392
- Financial income +€1,442
up €1,442 (+13.3%), from €10,830 to €12,272
- Other operating charges +€760
up €760 (+120.8%), from €630 to €1,390
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 | €449,966 | €467,497 | +€17,531 | +3.9% |
| Fixed assets | 21/28 | €29,203 | €22,374 | -€6,829 | -23.4% |
| Tangible fixed assets | 22/27 | €29,203 | €22,374 | -€6,829 | -23.4% |
| Furniture and vehicles | 24 | €10,046 | €9,518 | -€529 | -5.3% |
| Other tangible fixed assets | 26 | €19,156 | €12,856 | -€6,300 | -32.9% |
| Current assets | 29/58 | €420,764 | €445,123 | +€24,359 | +5.8% |
| Amounts receivable after more than one year | 29 | €396,553 | €433,571 | +€37,018 | +9.3% |
| Other amounts receivable | 291 | €396,553 | €433,571 | +€37,018 | +9.3% |
| Amounts receivable within one year | 40/41 | €9,691 | €11,005 | +€1,314 | +13.6% |
| Trade receivables | 40 | €9,691 | €10,405 | +€714 | +7.4% |
| Other amounts receivable | 41 | - | €600 | +€600 | |
| Current investments | 50/53 | €250 | - | -€250 | |
| Cash at bank and in hand | 54/58 | €14,270 | €547 | -€13,723 | -96.2% |
| Total equity and liabilities | 10/49 | €449,966 | €467,497 | +€17,531 | +3.9% |
| Equity | 10/15 | €404,333 | €441,010 | +€36,677 | +9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €383,873 | €420,550 | +€36,677 | +9.6% |
| Amounts payable | 17/49 | €45,633 | €26,487 | -€19,146 | -42.0% |
| Amounts payable within one year | 42/48 | €45,633 | €15,571 | -€30,062 | -65.9% |
| Current portion of amounts payable after more than one year | 42 | €28,964 | - | -€28,964 | |
| Trade debts | 44 | €8,627 | €13,423 | +€4,796 | +55.6% |
| Suppliers | 440/4 | €8,627 | €13,423 | +€4,796 | +55.6% |
| Taxes, remuneration and social security | 45 | €8,043 | €2,148 | -€5,895 | -73.3% |
| Taxes | 450/3 | €8,043 | €2,148 | -€5,895 | -73.3% |
| Accrued charges and deferred income | 492/3 | - | €10,916 | +€10,916 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,708 | €9,199 | +€491 | +5.6% |
| Other operating charges | 640/8 | €630 | €1,390 | +€760 | +120.8% |
| Gross operating margin | 9900 | €70,050 | €52,330 | -€17,720 | -25.3% |
| Operating profit (loss) | 9901 | €60,713 | €41,741 | -€18,972 | -31.2% |
| Financial income | 75/76B | €10,830 | €12,272 | +€1,442 | +13.3% |
| Recurring financial income | 75 | €10,830 | €12,272 | +€1,442 | +13.3% |
| Financial charges | 65/66B | €373 | €945 | +€571 | +153.1% |
| Recurring financial charges | 65 | €373 | €945 | +€571 | +153.1% |
| Profit (loss) for the period before taxes | 9903 | €71,170 | €53,069 | -€18,101 | -25.4% |
| Income taxes | 67/77 | €19,664 | €16,392 | -€3,272 | -16.6% |
| Profit (loss) for the period | 9904 | €51,507 | €36,677 | -€14,830 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €51,507 | €36,677 | -€14,830 | -28.8% |
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.