KCD Consult: 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.
KCD Consult
Largest movements
- Current investments +€25,770
up €25,770 (+6.2%), from €414,436 to €440,205
- Cash -€22,528
down €22,528 (-69.7%), from €32,320 to €9,792
mainly Contributions, distributions and other (-€210,324) and Current investments (-€25,770)
- Other debts +€134,314
up €134,314 (+138%), from €97,645 to €231,960
- Reserves -€91,311
down €91,311 (-23.0%), from €397,491 to €306,180
- Profit (loss) carried forward -€26,295
down €26,295 (-100%), from €26,295 to €0
- Tax, wage and social debts -€14,765
down €14,765 (-53.5%), from €27,616 to €12,852
- Depreciation -€8,575
down €8,575 (-85.7%), from €10,009 to €1,434
- Gross operating margin -€2,147
down €2,147 (-1.6%), from €137,715 to €135,568
- Taxes +€1,816
up €1,816 (+5.1%), from €35,610 to €37,426
- Other operating charges +€1,423
up €1,423 (+42.5%), from €3,348 to €4,771
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 | €577,645 | €573,501 | -€4,144 | -0.7% |
| Fixed assets | 21/28 | €91,303 | €89,869 | -€1,434 | -1.6% |
| Tangible fixed assets | 22/27 | €91,053 | €89,619 | -€1,434 | -1.6% |
| Land and buildings | 22 | €91,053 | €89,619 | -€1,434 | -1.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €486,342 | €483,632 | -€2,710 | -0.6% |
| Amounts receivable within one year | 40/41 | €37,388 | €32,665 | -€4,722 | -12.6% |
| Trade receivables | 40 | €37,359 | €32,642 | -€4,717 | -12.6% |
| Other amounts receivable | 41 | €29 | €23 | -€6 | -19.2% |
| Current investments | 50/53 | €414,436 | €440,205 | +€25,770 | +6.2% |
| Cash at bank and in hand | 54/58 | €32,320 | €9,792 | -€22,528 | -69.7% |
| Deferred charges and accrued income | 490/1 | €2,199 | €969 | -€1,230 | -55.9% |
| Total equity and liabilities | 10/49 | €577,645 | €573,501 | -€4,144 | -0.7% |
| Equity | 10/15 | €443,786 | €326,180 | -€117,606 | -26.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €397,491 | €306,180 | -€91,311 | -23.0% |
| Distributable reserves | 133 | €397,491 | €306,180 | -€91,311 | -23.0% |
| Profit (loss) carried forward | 14 | €26,295 | €0 | -€26,295 | -100% |
| Amounts payable | 17/49 | €133,859 | €247,321 | +€113,461 | +84.8% |
| Amounts payable after more than one year | 17 | €2,400 | €2,400 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €2,400 | €2,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €130,859 | €244,921 | +€114,061 | +87.2% |
| Current portion of amounts payable after more than one year | 42 | €3,725 | €0 | -€3,725 | -100% |
| Financial debts | 43 | €19 | €0 | -€19 | -100% |
| Credit institutions | 430/8 | €19 | €0 | -€19 | -100% |
| Trade debts | 44 | €1,853 | €109 | -€1,744 | -94.1% |
| Suppliers | 440/4 | €1,853 | €109 | -€1,744 | -94.1% |
| Taxes, remuneration and social security | 45 | €27,616 | €12,852 | -€14,765 | -53.5% |
| Taxes | 450/3 | €27,616 | €12,852 | -€14,765 | -53.5% |
| Other amounts payable | 47/48 | €97,645 | €231,960 | +€134,314 | +138% |
| Accrued charges and deferred income | 492/3 | €600 | €0 | -€600 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,009 | €1,434 | -€8,575 | -85.7% |
| Other operating charges | 640/8 | €3,348 | €4,771 | +€1,423 | +42.5% |
| Gross operating margin | 9900 | €137,715 | €135,568 | -€2,147 | -1.6% |
| Operating profit (loss) | 9901 | €124,359 | €129,363 | +€5,005 | +4.0% |
| Financial income | 75/76B | €815 | €1,121 | +€306 | +37.5% |
| Recurring financial income | 75 | €815 | €1,121 | +€306 | +37.5% |
| Financial charges | 65/66B | €547 | €340 | -€207 | -37.8% |
| Recurring financial charges | 65 | €547 | €340 | -€207 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €124,627 | €130,144 | +€5,517 | +4.4% |
| Income taxes | 67/77 | €35,610 | €37,426 | +€1,816 | +5.1% |
| Profit (loss) for the period | 9904 | €89,017 | €92,718 | +€3,702 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €89,017 | €92,718 | +€3,702 | +4.2% |
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 14 October 2026 via checked.be.