KD Business Services: what changed
KD Business Services
Largest movements
- Receivables within one year +€100,465
up €100,465 (+349%), from €28,780 to €129,245
of which Other amounts receivable: +€98,045
- Cash -€52,502
down €52,502 (-11.2%), from €467,605 to €415,103
mainly Receivables within one year (-€100,465) and Contributions, distributions and other (-€66,833)
- Current investments +€38,437
up €38,437 (+16.0%), from €240,000 to €278,437
- Tangible fixed assets -€29,903
down €29,903 (-14.4%), from €208,018 to €178,115
of which Land and buildings: -€29,653
- Reserves +€49,026
up €49,026 (+7.1%), from €694,521 to €743,548
of which Distributable reserves: +€50,886
- Tax, wage and social debts +€11,205
up €11,205 (+48.6%), from €23,071 to €34,276
of which Taxes: +€11,189
- Financial income +€21,036
new in 2025: €21,036
- Gross operating margin +€7,959
up €7,959 (+4.9%), from €163,200 to €171,159
- Taxes +€4,922
up €4,922 (+12.4%), from €39,850 to €44,771
- Depreciation +€3,110
up €3,110 (+11.6%), from €26,793 to €29,903
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €944,403 | €1,002,699 | +€58,296 | +6.2% |
| Fixed assets | 21/28 | €208,018 | €178,115 | -€29,903 | -14.4% |
| Tangible fixed assets | 22/27 | €208,018 | €178,115 | -€29,903 | -14.4% |
| Land and buildings | 22 | €207,570 | €177,917 | -€29,653 | -14.3% |
| Plant, machinery and equipment | 23 | €448 | €198 | -€250 | -55.8% |
| Current assets | 29/58 | €736,385 | €824,585 | +€88,199 | +12.0% |
| Amounts receivable within one year | 40/41 | €28,780 | €129,245 | +€100,465 | +349% |
| Trade receivables | 40 | €21,780 | €24,200 | +€2,420 | +11.1% |
| Other amounts receivable | 41 | €7,000 | €105,045 | +€98,045 | +1,401% |
| Current investments | 50/53 | €240,000 | €278,437 | +€38,437 | +16.0% |
| Cash at bank and in hand | 54/58 | €467,605 | €415,103 | -€52,502 | -11.2% |
| Deferred charges and accrued income | 490/1 | - | €1,800 | +€1,800 | |
| Total equity and liabilities | 10/49 | €944,403 | €1,002,699 | +€58,296 | +6.2% |
| Equity | 10/15 | €917,912 | €966,106 | +€48,193 | +5.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €694,521 | €743,548 | +€49,026 | +7.1% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €692,661 | €743,548 | +€50,886 | +7.3% |
| Profit (loss) carried forward | 14 | €210,991 | €210,158 | -€833 | -0.4% |
| Amounts payable | 17/49 | €26,491 | €36,594 | +€10,103 | +38.1% |
| Amounts payable within one year | 42/48 | €26,491 | €36,297 | +€9,805 | +37.0% |
| Trade debts | 44 | €843 | €1,437 | +€595 | +70.5% |
| Suppliers | 440/4 | €843 | €1,437 | +€595 | +70.5% |
| Taxes, remuneration and social security | 45 | €23,071 | €34,276 | +€11,205 | +48.6% |
| Taxes | 450/3 | €21,681 | €32,870 | +€11,189 | +51.6% |
| Remuneration and social security | 454/9 | €1,390 | €1,406 | +€16 | +1.2% |
| Other amounts payable | 47/48 | €2,577 | €583 | -€1,994 | -77.4% |
| Accrued charges and deferred income | 492/3 | - | €297 | +€297 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,793 | €29,903 | +€3,110 | +11.6% |
| Other operating charges | 640/8 | €3,363 | €2,338 | -€1,025 | -30.5% |
| Gross operating margin | 9900 | €163,200 | €171,159 | +€7,959 | +4.9% |
| Operating profit (loss) | 9901 | €133,044 | €138,918 | +€5,875 | +4.4% |
| Financial income | 75/76B | - | €21,036 | +€21,036 | |
| Recurring financial income | 75 | - | €21,036 | +€21,036 | |
| Financial charges | 65/66B | €95 | €157 | +€62 | +64.7% |
| Recurring financial charges | 65 | €95 | €157 | +€62 | +64.7% |
| Profit (loss) for the period before taxes | 9903 | €132,949 | €159,798 | +€26,849 | +20.2% |
| Income taxes | 67/77 | €39,850 | €44,771 | +€4,922 | +12.4% |
| Profit (loss) for the period | 9904 | €93,099 | €115,026 | +€21,928 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €93,099 | €115,026 | +€21,928 | +23.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.