KBD 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.
KBD PROJECTS
Largest movements
- Cash -€132,051
down €132,051 (-99.9%), from €132,168 to €117
mainly Tax, wage and social debts (-€115,942) and Stocks and contracts (-€87,906)
- Stocks and contracts +€87,906
up €87,906 (+41.4%), from €212,426 to €300,332
- Tax, wage and social debts -€115,942
down €115,942 (-91.8%), from €126,355 to €10,413
- Trade debts +€56,343
up €56,343 (+21055.6%), from €268 to €56,610
- Other debts +€23,200
up €23,200 (+17.3%), from €134,000 to €157,200
- Profit (loss) carried forward -€7,745
down €7,745 (-12.5%), from €61,971 to €54,226
- Gross operating margin +€52,827
up €52,827 (+99.4%), from -€53,166 to -€339
- Financial charges +€5,758
up €5,758 (+1087.5%), from €529 to €6,288
- Other operating charges +€613
up €613 (+121.3%), from €505 to €1,118
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 | €344,593 | €300,449 | -€44,145 | -12.8% |
| Current assets | 29/58 | €344,593 | €300,449 | -€44,145 | -12.8% |
| Stocks and contracts in progress | 3 | €212,426 | €300,332 | +€87,906 | +41.4% |
| Stocks | 30/36 | €212,426 | €300,332 | +€87,906 | +41.4% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €132,168 | €117 | -€132,051 | -99.9% |
| Total equity and liabilities | 10/49 | €344,593 | €300,449 | -€44,145 | -12.8% |
| Equity | 10/15 | €83,971 | €76,226 | -€7,745 | -9.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,971 | €54,226 | -€7,745 | -12.5% |
| Amounts payable | 17/49 | €260,623 | €224,223 | -€36,400 | -14.0% |
| Amounts payable within one year | 42/48 | €260,623 | €224,223 | -€36,400 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €268 | €56,610 | +€56,343 | +21055.6% |
| Suppliers | 440/4 | €268 | €56,610 | +€56,343 | +21055.6% |
| Taxes, remuneration and social security | 45 | €126,355 | €10,413 | -€115,942 | -91.8% |
| Taxes | 450/3 | €126,355 | €10,413 | -€115,942 | -91.8% |
| Other amounts payable | 47/48 | €134,000 | €157,200 | +€23,200 | +17.3% |
| Other operating charges | 640/8 | €505 | €1,118 | +€613 | +121.3% |
| Gross operating margin | 9900 | -€53,166 | -€339 | +€52,827 | +99.4% |
| Operating profit (loss) | 9901 | -€53,672 | -€1,458 | +€52,214 | +97.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €529 | €6,288 | +€5,758 | +1087.5% |
| Recurring financial charges | 65 | €529 | €6,288 | +€5,758 | +1087.5% |
| Profit (loss) for the period before taxes | 9903 | -€54,201 | -€7,745 | +€46,456 | +85.7% |
| Profit (loss) for the period | 9904 | -€54,201 | -€7,745 | +€46,456 | +85.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,201 | -€7,745 | +€46,456 | +85.7% |
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 6 October 2026 via checked.be.