KB HEATING: what changed
Two fiscal 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 HEATING
Largest movements
- Receivables within one year -€39,532
down €39,532 (-96.6%), from €40,929 to €1,397
of which Trade receivables: -€37,318
- Stocks and contracts +€21,397
up €21,397 (+201.2%), from €10,633 to €32,030
- Tangible fixed assets -€7,259
down €7,259 (-25.7%), from €28,226 to €20,966
- Cash -€4,343
down €4,343 (-5.0%), from €86,897 to €82,554
mainly Contributions, distributions and other (-€30,000) and Stocks and contracts (-€21,397)
- Profit (loss) carried forward -€24,219
down €24,219 (-54.9%), from €44,138 to €19,919
- Other debts +€9,952
up €9,952 (+49.6%), from €20,054 to €30,006
- Debts after one year -€8,990
down €8,990 (-51.3%), from €17,531 to €8,541
- Trade debts -€7,890
down €7,890 (-79.6%), from €9,917 to €2,027
- Gross operating margin -€46,153
down €46,153 (-73.4%), from €62,853 to €16,701
- Taxes -€18,260
down €18,260 (-89.8%), from €20,326 to €2,066
- Depreciation +€6,128
up €6,128 (+541.5%), from €1,132 to €7,259
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 | €167,992 | €138,341 | -€29,651 | -17.7% |
| Fixed assets | 21/28 | €28,226 | €20,966 | -€7,259 | -25.7% |
| Tangible fixed assets | 22/27 | €28,226 | €20,966 | -€7,259 | -25.7% |
| Furniture and vehicles | 24 | €28,226 | €20,966 | -€7,259 | -25.7% |
| Current assets | 29/58 | €139,766 | €117,375 | -€22,392 | -16.0% |
| Stocks and contracts in progress | 3 | €10,633 | €32,030 | +€21,397 | +201.2% |
| Stocks | 30/36 | €10,633 | €32,030 | +€21,397 | +201.2% |
| Amounts receivable within one year | 40/41 | €40,929 | €1,397 | -€39,532 | -96.6% |
| Trade receivables | 40 | €38,138 | €820 | -€37,318 | -97.8% |
| Other amounts receivable | 41 | €2,790 | €577 | -€2,214 | -79.3% |
| Cash at bank and in hand | 54/58 | €86,897 | €82,554 | -€4,343 | -5.0% |
| Deferred charges and accrued income | 490/1 | €1,308 | €1,393 | +€85 | +6.5% |
| Total equity and liabilities | 10/49 | €167,992 | €138,341 | -€29,651 | -17.7% |
| Equity | 10/15 | €111,788 | €87,569 | -€24,219 | -21.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,138 | €19,919 | -€24,219 | -54.9% |
| Amounts payable | 17/49 | €56,204 | €50,772 | -€5,432 | -9.7% |
| Amounts payable after more than one year | 17 | €17,531 | €8,541 | -€8,990 | -51.3% |
| Financial debts | 170/4 | €17,531 | €8,541 | -€8,990 | -51.3% |
| Amounts payable within one year | 42/48 | €38,673 | €42,232 | +€3,558 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €8,662 | €8,990 | +€329 | +3.8% |
| Trade debts | 44 | €9,917 | €2,027 | -€7,890 | -79.6% |
| Suppliers | 440/4 | €9,917 | €2,027 | -€7,890 | -79.6% |
| Taxes, remuneration and social security | 45 | €41 | €1,208 | +€1,167 | +2861.6% |
| Taxes | 450/3 | €41 | €1,208 | +€1,167 | +2861.6% |
| Other amounts payable | 47/48 | €20,054 | €30,006 | +€9,952 | +49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,132 | €7,259 | +€6,128 | +541.5% |
| Other operating charges | 640/8 | €835 | €576 | -€258 | -31.0% |
| Gross operating margin | 9900 | €62,853 | €16,701 | -€46,153 | -73.4% |
| Operating profit (loss) | 9901 | €60,887 | €8,865 | -€52,022 | -85.4% |
| Financial income | 75/76B | €50 | €0 | -€50 | -100.0% |
| Recurring financial income | 75 | €50 | €0 | -€50 | -100.0% |
| Financial charges | 65/66B | €564 | €1,018 | +€454 | +80.6% |
| Recurring financial charges | 65 | €564 | €1,018 | +€454 | +80.6% |
| Profit (loss) for the period before taxes | 9903 | €60,373 | €7,847 | -€52,526 | -87.0% |
| Income taxes | 67/77 | €20,326 | €2,066 | -€18,260 | -89.8% |
| Profit (loss) for the period | 9904 | €40,048 | €5,781 | -€34,266 | -85.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,048 | €5,781 | -€34,266 | -85.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.