KCD 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.
KCD INVEST
Largest movements
- Stocks and contracts -€40,540
down €40,540 (-29.6%), from €137,040 to €96,500
- Receivables within one year +€21,181
up €21,181 (+46.3%), from €45,707 to €66,888
of which Trade receivables: +€21,768
- Tangible fixed assets -€2,948
down €2,948 (-21.2%), from €13,891 to €10,943
of which Furniture and vehicles: -€2,000
- Profit (loss) carried forward -€35,679
down €35,679 (-52.0%), from €68,638 to €32,959
- Trade debts +€16,206
up €16,206 (+49.7%), from €32,599 to €48,805
- Other debts -€6,302
down €6,302 (-6.9%), from €91,252 to €84,949
- Gross operating margin -€26,905
down €26,905, from €537 to -€26,368
- Financial charges -€1,071
down €1,071 (-17.0%), from €6,317 to €5,246
- Other operating charges -€631
down €631 (-43.9%), from €1,437 to €805
- Depreciation -€334
down €334 (-10.2%), from €3,282 to €2,948
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 | €200,926 | €177,612 | -€23,314 | -11.6% |
| Fixed assets | 21/28 | €13,891 | €10,943 | -€2,948 | -21.2% |
| Tangible fixed assets | 22/27 | €13,891 | €10,943 | -€2,948 | -21.2% |
| Plant, machinery and equipment | 23 | €2,653 | €1,705 | -€948 | -35.7% |
| Furniture and vehicles | 24 | €11,238 | €9,238 | -€2,000 | -17.8% |
| Current assets | 29/58 | €187,035 | €166,669 | -€20,366 | -10.9% |
| Stocks and contracts in progress | 3 | €137,040 | €96,500 | -€40,540 | -29.6% |
| Stocks | 30/36 | €137,040 | €96,500 | -€40,540 | -29.6% |
| Amounts receivable within one year | 40/41 | €45,707 | €66,888 | +€21,181 | +46.3% |
| Trade receivables | 40 | €40,115 | €61,883 | +€21,768 | +54.3% |
| Other amounts receivable | 41 | €5,592 | €5,005 | -€587 | -10.5% |
| Cash at bank and in hand | 54/58 | €2,160 | €397 | -€1,763 | -81.6% |
| Deferred charges and accrued income | 490/1 | €2,128 | €2,883 | +€756 | +35.5% |
| Total equity and liabilities | 10/49 | €200,926 | €177,612 | -€23,314 | -11.6% |
| Equity | 10/15 | €71,638 | €35,959 | -€35,679 | -49.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,638 | €32,959 | -€35,679 | -52.0% |
| Amounts payable | 17/49 | €129,288 | €141,653 | +€12,365 | +9.6% |
| Amounts payable within one year | 42/48 | €126,045 | €136,581 | +€10,537 | +8.4% |
| Trade debts | 44 | €32,599 | €48,805 | +€16,206 | +49.7% |
| Suppliers | 440/4 | €32,599 | €48,805 | +€16,206 | +49.7% |
| Taxes, remuneration and social security | 45 | €2,194 | €2,827 | +€633 | +28.8% |
| Taxes | 450/3 | €366 | €1,888 | +€1,521 | +415% |
| Remuneration and social security | 454/9 | €1,828 | €939 | -€888 | -48.6% |
| Other amounts payable | 47/48 | €91,252 | €84,949 | -€6,302 | -6.9% |
| Accrued charges and deferred income | 492/3 | €3,244 | €5,072 | +€1,828 | +56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,282 | €2,948 | -€334 | -10.2% |
| Other operating charges | 640/8 | €1,437 | €805 | -€631 | -43.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €537 | -€26,368 | -€26,905 | |
| Operating profit (loss) | 9901 | -€4,182 | -€30,122 | -€25,940 | -620% |
| Financial income | 75/76B | €0 | €26 | +€26 | +257,600% |
| Recurring financial income | 75 | €0 | €26 | +€26 | +257,600% |
| Financial charges | 65/66B | €6,317 | €5,246 | -€1,071 | -17.0% |
| Recurring financial charges | 65 | €6,317 | €5,246 | -€1,071 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | -€10,499 | -€35,342 | -€24,843 | -237% |
| Income taxes | 67/77 | €366 | €337 | -€30 | -8.1% |
| Profit (loss) for the period | 9904 | -€10,865 | -€35,679 | -€24,814 | -228% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,865 | -€35,679 | -€24,814 | -228% |
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 28 October 2026 via checked.be.