KBRS Projects: 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.
KBRS Projects
Largest movements
- Cash -€87,993
down €87,993 (-68.2%), from €129,092 to €41,099
mainly Contributions, distributions and other (-€174,772) and Receivables within one year (-€10,680)
- Current investments -€27,000
down €27,000 (-100%), from €27,000 to €0
- Receivables within one year +€10,680
up €10,680 (+41.7%), from €25,591 to €36,271
of which Trade receivables: +€8,507
- Reserves -€107,108
down €107,108 (-61.3%), from €174,772 to €67,665
- Gross operating margin +€9,141
up €9,141 (+11.0%), from €83,247 to €92,388
- Other operating charges +€2,314
up €2,314 (+420%), from €551 to €2,866
- Taxes +€1,231
up €1,231 (+7.4%), from €16,525 to €17,756
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.
Derived cash bridge
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 | €195,427 | €90,596 | -€104,831 | -53.6% |
| Fixed assets | 21/28 | €11,215 | €9,797 | -€1,418 | -12.6% |
| Tangible fixed assets | 22/27 | €11,215 | €9,797 | -€1,418 | -12.6% |
| Plant, machinery and equipment | 23 | €1,477 | €1,266 | -€211 | -14.3% |
| Furniture and vehicles | 24 | €4,715 | €4,185 | -€530 | -11.2% |
| Other tangible fixed assets | 26 | €5,024 | €4,347 | -€677 | -13.5% |
| Current assets | 29/58 | €184,212 | €80,798 | -€103,413 | -56.1% |
| Amounts receivable within one year | 40/41 | €25,591 | €36,271 | +€10,680 | +41.7% |
| Trade receivables | 40 | €25,265 | €33,772 | +€8,507 | +33.7% |
| Other amounts receivable | 41 | €326 | €2,499 | +€2,173 | +667% |
| Current investments | 50/53 | €27,000 | €0 | -€27,000 | -100% |
| Cash at bank and in hand | 54/58 | €129,092 | €41,099 | -€87,993 | -68.2% |
| Deferred charges and accrued income | 490/1 | €2,529 | €3,429 | +€900 | +35.6% |
| Total equity and liabilities | 10/49 | €195,427 | €90,596 | -€104,831 | -53.6% |
| Equity | 10/15 | €179,772 | €72,665 | -€107,108 | -59.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €174,772 | €67,665 | -€107,108 | -61.3% |
| Distributable reserves | 133 | €174,772 | €67,665 | -€107,108 | -61.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €15,654 | €17,931 | +€2,276 | +14.5% |
| Amounts payable within one year | 42/48 | €15,401 | €17,737 | +€2,337 | +15.2% |
| Trade debts | 44 | €2,970 | €4,165 | +€1,195 | +40.2% |
| Suppliers | 440/4 | €2,970 | €4,165 | +€1,195 | +40.2% |
| Taxes, remuneration and social security | 45 | €9,881 | €10,896 | +€1,015 | +10.3% |
| Taxes | 450/3 | €6,750 | €10,896 | +€4,146 | +61.4% |
| Remuneration and social security | 454/9 | €3,130 | €0 | -€3,130 | -100% |
| Other amounts payable | 47/48 | €2,550 | €2,676 | +€126 | +5.0% |
| Accrued charges and deferred income | 492/3 | €254 | €193 | -€61 | -23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,641 | €2,818 | +€177 | +6.7% |
| Other operating charges | 640/8 | €551 | €2,866 | +€2,314 | +420% |
| Gross operating margin | 9900 | €83,247 | €92,388 | +€9,141 | +11.0% |
| Operating profit (loss) | 9901 | €80,055 | €86,705 | +€6,649 | +8.3% |
| Financial income | 75/76B | €2,182 | €1,741 | -€442 | -20.2% |
| Recurring financial income | 75 | €2,182 | €1,741 | -€442 | -20.2% |
| Financial charges | 65/66B | €2,822 | €3,024 | +€203 | +7.2% |
| Recurring financial charges | 65 | €2,822 | €3,024 | +€203 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €79,416 | €85,421 | +€6,005 | +7.6% |
| Income taxes | 67/77 | €16,525 | €17,756 | +€1,231 | +7.4% |
| Profit (loss) for the period | 9904 | €62,891 | €67,665 | +€4,774 | +7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €62,891 | €67,665 | +€4,774 | +7.6% |
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 15 October 2026 via checked.be.