KC MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash +€1.0m
up €1.0m (+9,205%), from €11,168 to €1.0m
mainly Net result for the year (+€497,497) and Debts after one year (+€484,160)
- Tangible fixed assets +€219,420
up €219,420 (+21.3%), from €1.0m to €1.3m
of which Land and buildings: +€238,615
- Receivables within one year -€57,585
down €57,585 (-90.4%), from €63,703 to €6,118
of which Trade receivables: -€59,256
- Receivables after one year -€50,000
no longer reported in 2025 (was €50,000)
- Reserves +€630,610
up €630,610 (+143%), from €442,058 to €1.1m
of which Tax-exempt reserves: +€630,610
- Debts after one year +€484,160
up €484,160 (+141%), from €343,562 to €827,722
- Provisions +€157,652
new in 2025: €157,652
- Profit (loss) carried forward -€133,113
down €133,113 (-99.5%), from €133,776 to €663
- Other debts +€40,046
up €40,046 (+1,818%), from €2,203 to €42,250
- Financial income +€797,847
up €797,847 (+2,044,189%), from €39 to €797,886
of which Non-recurring financial income: +€788,262
- Other operating charges +€52,190
up €52,190 (+693%), from €7,527 to €59,716
- Gross operating margin -€47,679
down €47,679 (-31.5%), from €151,379 to €103,700
- Depreciation +€37,487
up €37,487 (+43.7%), from €85,881 to €123,368
- Financial charges +€12,211
up €12,211 (+24.0%), from €50,893 to €63,104
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 | €1,166,994 | €2,307,186 | +€1.1m | +97.7% |
| Fixed assets | 21/28 | €1,031,098 | €1,250,518 | +€219,420 | +21.3% |
| Tangible fixed assets | 22/27 | €1,031,098 | €1,250,518 | +€219,420 | +21.3% |
| Land and buildings | 22 | €964,479 | €1,203,094 | +€238,615 | +24.7% |
| Furniture and vehicles | 24 | €66,619 | €47,424 | -€19,195 | -28.8% |
| Current assets | 29/58 | €135,896 | €1,056,667 | +€920,772 | +678% |
| Amounts receivable after more than one year | 29 | €50,000 | - | -€50,000 | |
| Trade receivables | 290 | €50,000 | - | -€50,000 | |
| Amounts receivable within one year | 40/41 | €63,703 | €6,118 | -€57,585 | -90.4% |
| Trade receivables | 40 | €59,446 | €190 | -€59,256 | -99.7% |
| Other amounts receivable | 41 | €4,257 | €5,928 | +€1,671 | +39.3% |
| Current investments | 50/53 | €7,921 | €7,921 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,168 | €1,039,129 | +€1.0m | +9,205% |
| Deferred charges and accrued income | 490/1 | €3,104 | €3,499 | +€395 | +12.7% |
| Total equity and liabilities | 10/49 | €1,166,994 | €2,307,186 | +€1.1m | +97.7% |
| Equity | 10/15 | €660,834 | €1,158,331 | +€497,497 | +75.3% |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Capital | 10 | €85,000 | €85,000 | = | 0.0% |
| Issued capital | 100 | €85,000 | €85,000 | = | 0.0% |
| Reserves | 13 | €442,058 | €1,072,668 | +€630,610 | +143% |
| Non-distributable reserves | 130/1 | €8,500 | €8,500 | = | 0.0% |
| Legal reserve | 130 | €8,500 | €8,500 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €630,610 | +€630,610 | |
| Distributable reserves | 133 | €433,558 | €433,558 | = | 0.0% |
| Profit (loss) carried forward | 14 | €133,776 | €663 | -€133,113 | -99.5% |
| Provisions and deferred taxes | 16 | - | €157,652 | +€157,652 | |
| Deferred taxes | 168 | - | €157,652 | +€157,652 | |
| Amounts payable | 17/49 | €506,159 | €991,202 | +€485,043 | +95.8% |
| Amounts payable after more than one year | 17 | €343,562 | €827,722 | +€484,160 | +141% |
| Financial debts | 170/4 | €343,562 | €827,722 | +€484,160 | +141% |
| Amounts payable within one year | 42/48 | €162,597 | €161,091 | -€1,506 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €115,945 | €87,625 | -€28,320 | -24.4% |
| Trade debts | 44 | €20,630 | €13,263 | -€7,367 | -35.7% |
| Suppliers | 440/4 | €20,630 | €13,263 | -€7,367 | -35.7% |
| Taxes, remuneration and social security | 45 | €23,819 | €17,953 | -€5,866 | -24.6% |
| Taxes | 450/3 | €23,819 | €17,953 | -€5,866 | -24.6% |
| Other amounts payable | 47/48 | €2,203 | €42,250 | +€40,046 | +1,818% |
| Accrued charges and deferred income | 492/3 | - | €2,389 | +€2,389 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,881 | €123,368 | +€37,487 | +43.7% |
| Other operating charges | 640/8 | €7,527 | €59,716 | +€52,190 | +693% |
| Gross operating margin | 9900 | €151,379 | €103,700 | -€47,679 | -31.5% |
| Operating profit (loss) | 9901 | €57,971 | -€79,384 | -€137,356 | |
| Financial income | 75/76B | €39 | €797,886 | +€797,847 | +2,044,189% |
| Recurring financial income | 75 | €39 | €9,624 | +€9,585 | +24,558% |
| Non-recurring financial income | 76B | - | €788,262 | +€788,262 | |
| Financial charges | 65/66B | €50,893 | €63,104 | +€12,211 | +24.0% |
| Recurring financial charges | 65 | €50,893 | €63,104 | +€12,211 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €7,117 | €655,398 | +€648,280 | +9,108% |
| Transfer to deferred taxes | 680 | - | €157,652 | +€157,652 | |
| Income taxes | 67/77 | €2,722 | €249 | -€2,474 | -90.9% |
| Profit (loss) for the period | 9904 | €4,395 | €497,497 | +€493,101 | +11,219% |
| Transfer to tax-exempt reserves | 689 | - | €630,610 | +€630,610 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,395 | -€133,113 | -€137,508 |
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 13 October 2026 via checked.be.