KCO ADVISORY SERVICES: 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.
KCO ADVISORY SERVICES
Largest movements
- Current investments +€105,805
up €105,805 (+126%), from €84,001 to €189,806
- Cash -€67,714
down €67,714 (-47.7%), from €141,859 to €74,146
mainly Current investments (-€105,805) and Receivables within one year (-€26,543)
- Receivables within one year +€26,543
up €26,543 (+35.4%), from €75,065 to €101,607
of which Trade receivables: +€16,599
- Tangible fixed assets -€6,099
down €6,099 (-31.7%), from €19,238 to €13,139
of which Furniture and vehicles: -€3,137
- Reserves +€59,991
up €59,991 (+20.7%), from €289,942 to €349,934
of which Distributable reserves: +€59,991
- Tax, wage and social debts +€7,049
up €7,049 (+25.2%), from €28,014 to €35,063
- Accrued charges and deferred income -€6,990
down €6,990 (-76.7%), from €9,117 to €2,127
- Gross operating margin -€67,015
down €67,015 (-51.8%), from €129,346 to €62,331
- Financial income +€41,185
up €41,185 (+3,331%), from €1,237 to €42,422
- Taxes +€2,200
up €2,200 (+7.1%), from €30,906 to €33,106
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 | €342,860 | €400,834 | +€57,974 | +16.9% |
| Fixed assets | 21/28 | €39,238 | €33,139 | -€6,099 | -15.5% |
| Tangible fixed assets | 22/27 | €19,238 | €13,139 | -€6,099 | -31.7% |
| Land and buildings | 22 | €8,331 | €5,555 | -€2,776 | -33.3% |
| Plant, machinery and equipment | 23 | €1,338 | €1,609 | +€270 | +20.2% |
| Furniture and vehicles | 24 | €7,916 | €4,780 | -€3,137 | -39.6% |
| Leasing and similar rights | 25 | €1,653 | €1,196 | -€456 | -27.6% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €303,621 | €367,694 | +€64,073 | +21.1% |
| Amounts receivable within one year | 40/41 | €75,065 | €101,607 | +€26,543 | +35.4% |
| Trade receivables | 40 | €57,482 | €74,081 | +€16,599 | +28.9% |
| Other amounts receivable | 41 | €17,582 | €27,526 | +€9,944 | +56.6% |
| Current investments | 50/53 | €84,001 | €189,806 | +€105,805 | +126% |
| Cash at bank and in hand | 54/58 | €141,859 | €74,146 | -€67,714 | -47.7% |
| Deferred charges and accrued income | 490/1 | €2,696 | €2,135 | -€561 | -20.8% |
| Total equity and liabilities | 10/49 | €342,860 | €400,834 | +€57,974 | +16.9% |
| Equity | 10/15 | €303,653 | €363,644 | +€59,991 | +19.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €289,942 | €349,934 | +€59,991 | +20.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €288,082 | €348,074 | +€59,991 | +20.8% |
| Profit (loss) carried forward | 14 | €7,510 | €7,510 | = | 0.0% |
| Amounts payable | 17/49 | €39,207 | €37,189 | -€2,018 | -5.1% |
| Amounts payable within one year | 42/48 | €30,090 | €35,063 | +€4,972 | +16.5% |
| Financial debts | 43 | €2,076 | - | -€2,076 | |
| Credit institutions | 430/8 | €2,076 | - | -€2,076 | |
| Taxes, remuneration and social security | 45 | €28,014 | €35,063 | +€7,049 | +25.2% |
| Taxes | 450/3 | €28,014 | €35,063 | +€7,049 | +25.2% |
| Accrued charges and deferred income | 492/3 | €9,117 | €2,127 | -€6,990 | -76.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,954 | €7,001 | +€47 | +0.7% |
| Other operating charges | 640/8 | €450 | €1,125 | +€675 | +150% |
| Gross operating margin | 9900 | €129,346 | €62,331 | -€67,015 | -51.8% |
| Operating profit (loss) | 9901 | €121,942 | €54,205 | -€67,738 | -55.5% |
| Financial income | 75/76B | €1,237 | €42,422 | +€41,185 | +3,331% |
| Recurring financial income | 75 | €1,237 | €42,422 | +€41,185 | +3,331% |
| Financial charges | 65/66B | €3,372 | €3,529 | +€157 | +4.7% |
| Recurring financial charges | 65 | €3,372 | €3,529 | +€157 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €119,807 | €93,098 | -€26,709 | -22.3% |
| Income taxes | 67/77 | €30,906 | €33,106 | +€2,200 | +7.1% |
| Profit (loss) for the period | 9904 | €88,901 | €59,991 | -€28,910 | -32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €88,901 | €59,991 | -€28,910 | -32.5% |
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 25 October 2026 via checked.be.