KBL GUNEY: 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.
What changed
KBL GUNEY
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2,013
2024 · -€14,385+€12,372
Equity
-€84,878
2024 · -€82,570-€2,308
Cash
€4,199
2024 · €9,405-€5,205
Balance sheet total
€839,178
2024 · €946,815-€107,637
Largest movements
Assets
- Tangible fixed assets -€120,327
down €120,327 (-13.2%), from €911,991 to €791,664
of which Land and buildings: -€104,563
- Receivables within one year +€11,050
up €11,050 (+191.7%), from €5,764 to €16,814
Equity and liabilities
- Debts after one year -€81,921
down €81,921 (-8.9%), from €917,450 to €835,529
of which Other amounts payable: -€47,500
- Trade debts -€22,542
down €22,542 (-35.4%), from €63,720 to €41,178
Income statement
- Taxes +€40,495
new in 2025: €40,495
- Other operating charges -€35,229
down €35,229 (-81.1%), from €43,430 to €8,201
- Provisions -€15,485
no longer reported in 2025 (was €15,485)
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.
Result 2024
-€14,385
Gross operating margin
+€1,575
Staff costs
+€4
Depreciation
+€0
Provisions
+€15,485
Other operating charges
+€35,229
Financial income
-€10
Financial charges
+€583
Taxes
-€40,495
Result 2025
-€2,013
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.
From operations
+€93,698
Investment
-€15,458
Financing
-€83,446
Cash 2024
€9,405
From operations (derived)
+€93,698
Net result for the year
-€2,013
Depreciation
+€126,433
Receivables within one year
-€11,050
Deferred charges and accrued income
+€2,507
Trade debts
-€22,542
Other debts
+€365
Investment (derived)
-€15,458
Investment in fixed assets (net)
-€15,458
Financing
-€83,446
Debts after one year
-€81,921
Current portion of long-term debt
-€1,229
Contributions, distributions and other
-€295
Cash 2025
€4,199
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €946,815 | €839,178 | -€107,637 | -11.4% |
| Formation expenses | 20 | €16,894 | €26,246 | +€9,352 | +55.4% |
| Fixed assets | 21/28 | €912,246 | €791,919 | -€120,327 | -13.2% |
| Tangible fixed assets | 22/27 | €911,991 | €791,664 | -€120,327 | -13.2% |
| Land and buildings | 22 | €876,126 | €771,563 | -€104,563 | -11.9% |
| Plant, machinery and equipment | 23 | €35,865 | €20,102 | -€15,763 | -44.0% |
| Financial fixed assets | 28 | €255 | €255 | = | 0.0% |
| Current assets | 29/58 | €17,675 | €21,013 | +€3,338 | +18.9% |
| Amounts receivable within one year | 40/41 | €5,764 | €16,814 | +€11,050 | +191.7% |
| Trade receivables | 40 | €5,764 | €16,814 | +€11,050 | +191.7% |
| Cash at bank and in hand | 54/58 | €9,405 | €4,199 | -€5,205 | -55.3% |
| Deferred charges and accrued income | 490/1 | €2,507 | - | -€2,507 | |
| Total equity and liabilities | 10/49 | €946,815 | €839,178 | -€107,637 | -11.4% |
| Equity | 10/15 | -€82,570 | -€84,878 | -€2,308 | -2.8% |
| Contributions | 10/11 | €121,500 | €121,500 | = | 0.0% |
| Capital | 10 | €121,500 | - | -€121,500 | |
| Issued capital | 100 | €121,500 | - | -€121,500 | |
| Reserves | 13 | €4,573 | €4,573 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,573 | €4,573 | = | 0.0% |
| Legal reserve | 130 | €4,573 | - | -€4,573 | |
| Reserves not available under the articles | 1311 | - | €4,573 | +€4,573 | |
| Profit (loss) carried forward | 14 | -€208,643 | -€210,951 | -€2,308 | -1.1% |
| Amounts payable | 17/49 | €1,029,385 | €924,057 | -€105,328 | -10.2% |
| Amounts payable after more than one year | 17 | €917,450 | €835,529 | -€81,921 | -8.9% |
| Financial debts | 170/4 | €99,714 | €65,293 | -€34,421 | -34.5% |
| Other amounts payable | 178/9 | €817,736 | €770,236 | -€47,500 | -5.8% |
| Amounts payable within one year | 42/48 | €111,935 | €88,528 | -€23,407 | -20.9% |
| Current portion of amounts payable after more than one year | 42 | €31,353 | €30,124 | -€1,229 | -3.9% |
| Trade debts | 44 | €63,720 | €41,178 | -€22,542 | -35.4% |
| Suppliers | 440/4 | €63,720 | €41,178 | -€22,542 | -35.4% |
| Taxes, remuneration and social security | 45 | €2,487 | €2,487 | = | 0.0% |
| Taxes | 450/3 | €2,487 | €2,487 | = | 0.0% |
| Other amounts payable | 47/48 | €14,375 | €14,740 | +€365 | +2.5% |
| Remuneration, social security and pensions | 62 | €4 | - | -€4 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,433 | €126,433 | -€0 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €15,485 | - | -€15,485 | |
| Other operating charges | 640/8 | €43,430 | €8,201 | -€35,229 | -81.1% |
| Gross operating margin | 9900 | €171,635 | €173,210 | +€1,575 | +0.9% |
| Operating profit (loss) | 9901 | -€13,717 | €38,577 | +€52,294 | |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €678 | €96 | -€583 | -85.9% |
| Recurring financial charges | 65 | €678 | €96 | -€583 | -85.9% |
| Profit (loss) for the period before taxes | 9903 | -€14,385 | €38,481 | +€52,867 | |
| Income taxes | 67/77 | - | €40,495 | +€40,495 | |
| Profit (loss) for the period | 9904 | -€14,385 | -€2,013 | +€12,372 | +86.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,385 | -€2,013 | +€12,372 | +86.0% |
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.