KB PROJECTS: 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 PROJECTS
Largest movements
- Cash +€57,146
up €57,146 (+64.5%), from €88,558 to €145,703
mainly Trade debts (+€207,382) and Depreciation (+€61,793)
- Tangible fixed assets -€34,280
down €34,280 (-24.8%), from €138,275 to €103,996
of which Furniture and vehicles: -€42,366
- Receivables within one year +€25,448
up €25,448 (+10.6%), from €240,975 to €266,423
of which Trade receivables: +€35,236
- Deferred charges and accrued income -€7,480
down €7,480 (-16.9%), from €44,283 to €36,803
- Trade debts +€207,382
up €207,382 (+124.1%), from €167,079 to €374,462
- Reserves -€119,055
down €119,055 (-100.0%), from €119,055 to €0
- Profit (loss) carried forward -€79,639
new in 2025: -€79,639
- Debts after one year +€18,538
up €18,538 (+62.7%), from €29,549 to €48,087
- Other debts +€12,568
up €12,568 (+9.4%), from €133,655 to €146,223
- Gross operating margin -€111,681
down €111,681 (-12.1%), from €920,439 to €808,758
- Staff costs +€86,479
up €86,479 (+10.6%), from €814,151 to €900,630
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 | €679,238 | €719,549 | +€40,311 | +5.9% |
| Fixed assets | 21/28 | €138,898 | €104,618 | -€34,280 | -24.7% |
| Tangible fixed assets | 22/27 | €138,275 | €103,996 | -€34,280 | -24.8% |
| Plant, machinery and equipment | 23 | €26,456 | €16,959 | -€9,496 | -35.9% |
| Furniture and vehicles | 24 | €72,954 | €30,588 | -€42,366 | -58.1% |
| Leasing and similar rights | 25 | €35,672 | €26,480 | -€9,192 | -25.8% |
| Other tangible fixed assets | 26 | €3,194 | €29,968 | +€26,775 | +838.4% |
| Financial fixed assets | 28 | €623 | €623 | = | 0.0% |
| Current assets | 29/58 | €540,340 | €614,931 | +€74,591 | +13.8% |
| Stocks and contracts in progress | 3 | €166,524 | €166,002 | -€523 | -0.3% |
| Stocks | 30/36 | €166,524 | €166,002 | -€523 | -0.3% |
| Amounts receivable within one year | 40/41 | €240,975 | €266,423 | +€25,448 | +10.6% |
| Trade receivables | 40 | €229,458 | €264,694 | +€35,236 | +15.4% |
| Other amounts receivable | 41 | €11,517 | €1,728 | -€9,788 | -85.0% |
| Cash at bank and in hand | 54/58 | €88,558 | €145,703 | +€57,146 | +64.5% |
| Deferred charges and accrued income | 490/1 | €44,283 | €36,803 | -€7,480 | -16.9% |
| Total equity and liabilities | 10/49 | €679,238 | €719,549 | +€40,311 | +5.9% |
| Equity | 10/15 | €134,055 | -€64,639 | -€198,694 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €119,055 | €0 | -€119,055 | -100.0% |
| Distributable reserves | 133 | €119,055 | €0 | -€119,055 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€79,639 | -€79,639 | |
| Amounts payable | 17/49 | €545,183 | €784,188 | +€239,005 | +43.8% |
| Amounts payable after more than one year | 17 | €29,549 | €48,087 | +€18,538 | +62.7% |
| Financial debts | 170/4 | €29,549 | €48,087 | +€18,538 | +62.7% |
| Amounts payable within one year | 42/48 | €512,475 | €735,379 | +€222,904 | +43.5% |
| Current portion of amounts payable after more than one year | 42 | €22,107 | €27,557 | +€5,450 | +24.7% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €167,079 | €374,462 | +€207,382 | +124.1% |
| Suppliers | 440/4 | €167,079 | €374,462 | +€207,382 | +124.1% |
| Taxes, remuneration and social security | 45 | €39,634 | €37,138 | -€2,497 | -6.3% |
| Taxes | 450/3 | €5,063 | €9,140 | +€4,077 | +80.5% |
| Remuneration and social security | 454/9 | €34,572 | €27,998 | -€6,573 | -19.0% |
| Other amounts payable | 47/48 | €133,655 | €146,223 | +€12,568 | +9.4% |
| Accrued charges and deferred income | 492/3 | €3,159 | €722 | -€2,437 | -77.1% |
| Remuneration, social security and pensions | 62 | €814,151 | €900,630 | +€86,479 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,618 | €61,793 | +€5,175 | +9.1% |
| Other operating charges | 640/8 | €4,302 | €3,356 | -€946 | -22.0% |
| Non-recurring operating charges | 66A | - | €3,230 | +€3,230 | |
| Gross operating margin | 9900 | €920,439 | €808,758 | -€111,681 | -12.1% |
| Operating profit (loss) | 9901 | €45,368 | -€160,251 | -€205,619 | |
| Financial income | 75/76B | €1,223 | €698 | -€525 | -42.9% |
| Recurring financial income | 75 | €1,223 | €698 | -€525 | -42.9% |
| Financial charges | 65/66B | €36,556 | €39,002 | +€2,447 | +6.7% |
| Recurring financial charges | 65 | €31,354 | €39,002 | +€7,648 | +24.4% |
| Non-recurring financial charges | 66B | €5,201 | - | -€5,201 | |
| Profit (loss) for the period before taxes | 9903 | €10,035 | -€198,556 | -€208,591 | |
| Income taxes | 67/77 | €4,417 | €139 | -€4,279 | -96.9% |
| Profit (loss) for the period | 9904 | €5,618 | -€198,694 | -€204,312 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,618 | -€198,694 | -€204,312 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.