KC Concept: 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.
KC Concept
Largest movements
- Tangible fixed assets +€326,537
up €326,537 (+1376.4%), from €23,724 to €350,261
of which Land and buildings: +€317,524
- Cash -€21,565
down €21,565 (-19.4%), from €111,111 to €89,547
mainly Investment in fixed assets (net) (-€350,811) and Other debts (-€20,905)
- Receivables within one year +€9,404
up €9,404 (+228.0%), from €4,124 to €13,528
of which Trade receivables: +€4,806
- Debts after one year +€220,346
new in 2025: €220,346
- Reserves +€76,294
up €76,294 (+90.6%), from €84,255 to €160,549
- Tax, wage and social debts +€22,435
up €22,435 (+95.0%), from €23,625 to €46,060
- Other debts -€20,905
down €20,905 (-73.6%), from €28,405 to €7,500
- Current portion of long-term debt +€11,654
new in 2025: €11,654
- Gross operating margin +€15,383
up €15,383 (+12.7%), from €120,662 to €136,044
- Depreciation +€15,106
up €15,106 (+163.8%), from €9,220 to €24,326
- Financial charges +€3,471
up €3,471 (+4328.8%), from €80 to €3,551
- Staff costs -€1,973
no longer reported in 2025 (was €1,973)
- Other operating charges +€1,939
up €1,939 (+152.6%), from €1,270 to €3,209
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 | €141,139 | €455,299 | +€314,159 | +222.6% |
| Formation expenses | 20 | €52 | - | -€52 | |
| Fixed assets | 21/28 | €25,675 | €352,212 | +€326,537 | +1271.8% |
| Intangible fixed assets | 21 | €1 | €1 | -€0 | -11.6% |
| Tangible fixed assets | 22/27 | €23,724 | €350,261 | +€326,537 | +1376.4% |
| Land and buildings | 22 | €3,171 | €320,695 | +€317,524 | +10013.4% |
| Plant, machinery and equipment | 23 | €2,232 | €3,155 | +€922 | +41.3% |
| Furniture and vehicles | 24 | €18,321 | €26,411 | +€8,091 | +44.2% |
| Financial fixed assets | 28 | €1,950 | €1,950 | = | 0.0% |
| Current assets | 29/58 | €115,413 | €103,087 | -€12,326 | -10.7% |
| Amounts receivable within one year | 40/41 | €4,124 | €13,528 | +€9,404 | +228.0% |
| Trade receivables | 40 | €4,124 | €8,930 | +€4,806 | +116.5% |
| Other amounts receivable | 41 | - | €4,598 | +€4,598 | |
| Cash at bank and in hand | 54/58 | €111,111 | €89,547 | -€21,565 | -19.4% |
| Deferred charges and accrued income | 490/1 | €177 | €12 | -€165 | -93.3% |
| Total equity and liabilities | 10/49 | €141,139 | €455,299 | +€314,159 | +222.6% |
| Equity | 10/15 | €86,655 | €162,949 | +€76,294 | +88.0% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €84,255 | €160,549 | +€76,294 | +90.6% |
| Distributable reserves | 133 | €84,255 | €160,549 | +€76,294 | +90.6% |
| Amounts payable | 17/49 | €54,484 | €292,350 | +€237,865 | +436.6% |
| Amounts payable after more than one year | 17 | - | €220,346 | +€220,346 | |
| Financial debts | 170/4 | - | €220,346 | +€220,346 | |
| Amounts payable within one year | 42/48 | €54,484 | €72,004 | +€17,519 | +32.2% |
| Current portion of amounts payable after more than one year | 42 | - | €11,654 | +€11,654 | |
| Trade debts | 44 | €2,455 | €6,790 | +€4,335 | +176.6% |
| Suppliers | 440/4 | €2,455 | €6,790 | +€4,335 | +176.6% |
| Taxes, remuneration and social security | 45 | €23,625 | €46,060 | +€22,435 | +95.0% |
| Taxes | 450/3 | €23,625 | €46,060 | +€22,435 | +95.0% |
| Other amounts payable | 47/48 | €28,405 | €7,500 | -€20,905 | -73.6% |
| Remuneration, social security and pensions | 62 | €1,973 | - | -€1,973 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,220 | €24,326 | +€15,106 | +163.8% |
| Other operating charges | 640/8 | €1,270 | €3,209 | +€1,939 | +152.6% |
| Gross operating margin | 9900 | €120,662 | €136,044 | +€15,383 | +12.7% |
| Operating profit (loss) | 9901 | €108,198 | €108,509 | +€311 | +0.3% |
| Financial income | 75/76B | €10 | €1 | -€9 | -94.4% |
| Recurring financial income | 75 | €10 | €1 | -€9 | -94.4% |
| Financial charges | 65/66B | €80 | €3,551 | +€3,471 | +4328.8% |
| Recurring financial charges | 65 | €80 | €3,551 | +€3,471 | +4328.8% |
| Profit (loss) for the period before taxes | 9903 | €108,128 | €104,958 | -€3,170 | -2.9% |
| Income taxes | 67/77 | €22,207 | €21,164 | -€1,042 | -4.7% |
| Profit (loss) for the period | 9904 | €85,921 | €83,794 | -€2,127 | -2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €85,921 | €83,794 | -€2,127 | -2.5% |
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 2 October 2026 via checked.be.