KC-INVEST: 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.
KC-INVEST
Largest movements
- Receivables within one year -€83,928
down €83,928 (-58.9%), from €142,497 to €58,569
of which Trade receivables: -€97,767
- Cash -€37,882
down €37,882 (-56.9%), from €66,593 to €28,711
mainly Trade debts (-€46,741) and Net result for the year (-€37,540)
- Tangible fixed assets -€8,389
down €8,389 (-15.9%), from €52,645 to €44,256
of which Leasing and similar rights: -€12,974
- Deferred charges and accrued income +€7,892
up €7,892 (+9,937%), from €79 to €7,972
- Trade debts -€46,741
down €46,741 (-84.9%), from €55,024 to €8,283
- Profit (loss) carried forward -€37,540
down €37,540 (-37.3%), from €100,529 to €62,989
- Tax, wage and social debts -€22,694
down €22,694 (-47.3%), from €47,981 to €25,287
- Debts after one year -€16,039
down €16,039 (-46.0%), from €34,887 to €18,848
- Gross operating margin -€34,934
down €34,934, from €25,094 to -€9,840
- Other operating charges +€9,926
up €9,926 (+498%), from €1,992 to €11,918
- Taxes -€2,288
down €2,288 (-100%), from €2,288 to €0
- Depreciation +€766
up €766 (+5.9%), from €13,014 to €13,780
- Financial charges -€464
down €464 (-16.9%), from €2,739 to €2,275
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 | €261,814 | €139,507 | -€122,306 | -46.7% |
| Fixed assets | 21/28 | €52,645 | €44,256 | -€8,389 | -15.9% |
| Tangible fixed assets | 22/27 | €52,645 | €44,256 | -€8,389 | -15.9% |
| Plant, machinery and equipment | 23 | - | €4,743 | +€4,743 | |
| Furniture and vehicles | 24 | €748 | €591 | -€158 | -21.1% |
| Leasing and similar rights | 25 | €51,896 | €38,922 | -€12,974 | -25.0% |
| Current assets | 29/58 | €209,169 | €95,251 | -€113,918 | -54.5% |
| Amounts receivable within one year | 40/41 | €142,497 | €58,569 | -€83,928 | -58.9% |
| Trade receivables | 40 | €137,779 | €40,012 | -€97,767 | -71.0% |
| Other amounts receivable | 41 | €4,718 | €18,558 | +€13,839 | +293% |
| Cash at bank and in hand | 54/58 | €66,593 | €28,711 | -€37,882 | -56.9% |
| Deferred charges and accrued income | 490/1 | €79 | €7,972 | +€7,892 | +9,937% |
| Total equity and liabilities | 10/49 | €261,814 | €139,507 | -€122,306 | -46.7% |
| Equity | 10/15 | €108,591 | €71,051 | -€37,540 | -34.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €5,061 | €5,061 | = | 0.0% |
| Distributable reserves | 133 | €5,061 | €5,061 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,529 | €62,989 | -€37,540 | -37.3% |
| Amounts payable | 17/49 | €153,223 | €68,457 | -€84,766 | -55.3% |
| Amounts payable after more than one year | 17 | €34,887 | €18,848 | -€16,039 | -46.0% |
| Financial debts | 170/4 | €34,887 | €18,848 | -€16,039 | -46.0% |
| Amounts payable within one year | 42/48 | €118,336 | €49,609 | -€68,727 | -58.1% |
| Current portion of amounts payable after more than one year | 42 | €15,330 | €16,039 | +€709 | +4.6% |
| Trade debts | 44 | €55,024 | €8,283 | -€46,741 | -84.9% |
| Suppliers | 440/4 | €55,024 | €8,283 | -€46,741 | -84.9% |
| Taxes, remuneration and social security | 45 | €47,981 | €25,287 | -€22,694 | -47.3% |
| Taxes | 450/3 | €47,981 | €25,287 | -€22,694 | -47.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,014 | €13,780 | +€766 | +5.9% |
| Other operating charges | 640/8 | €1,992 | €11,918 | +€9,926 | +498% |
| Gross operating margin | 9900 | €25,094 | -€9,840 | -€34,934 | |
| Operating profit (loss) | 9901 | €10,088 | -€35,538 | -€45,626 | |
| Financial income | 75/76B | €0 | €273 | +€273 | |
| Recurring financial income | 75 | €0 | €273 | +€273 | |
| Financial charges | 65/66B | €2,739 | €2,275 | -€464 | -16.9% |
| Recurring financial charges | 65 | €2,739 | €2,275 | -€464 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €7,349 | -€37,540 | -€44,889 | |
| Income taxes | 67/77 | €2,288 | €0 | -€2,288 | -100% |
| Profit (loss) for the period | 9904 | €5,061 | -€37,540 | -€42,601 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,061 | -€37,540 | -€42,601 |
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 27 October 2026 via checked.be.