KD GROUP: what changed
Two fiscal 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.
KD GROUP
Largest movements
- Receivables within one year -€21,449
down €21,449 (-29.4%), from €72,860 to €51,411
of which Trade receivables: -€20,042
- Cash +€11,702
up €11,702 (+154.0%), from €7,597 to €19,299
mainly Receivables within one year (+€21,449) and Depreciation (+€6,044)
- Tangible fixed assets -€6,044
down €6,044 (-37.7%), from €16,011 to €9,968
of which Furniture and vehicles: -€4,599
- Trade debts -€20,697
down €20,697 (-52.0%), from €39,824 to €19,127
- Profit (loss) carried forward +€4,490
up €4,490 (+7.8%), from €57,589 to €62,079
- Tax, wage and social debts +€4,325
up €4,325 (+101.5%), from €4,262 to €8,587
- Debts after one year -€3,391
no longer reported in 2025 (was €3,391)
- Financial charges -€2,059
down €2,059 (-59.1%), from €3,485 to €1,426
- Gross operating margin -€1,388
down €1,388 (-7.4%), from €18,745 to €17,357
- Financial income -€928
down €928 (-39.1%), from €2,371 to €1,443
- Other operating charges +€271
up €271 (+12.1%), from €2,244 to €2,516
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.
Cash bridge derived
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 | €110,126 | €94,283 | -€15,842 | -14.4% |
| Fixed assets | 21/28 | €16,011 | €9,968 | -€6,044 | -37.7% |
| Tangible fixed assets | 22/27 | €16,011 | €9,968 | -€6,044 | -37.7% |
| Plant, machinery and equipment | 23 | €2,506 | €1,062 | -€1,445 | -57.6% |
| Furniture and vehicles | 24 | €13,505 | €8,906 | -€4,599 | -34.1% |
| Current assets | 29/58 | €94,115 | €84,316 | -€9,799 | -10.4% |
| Amounts receivable within one year | 40/41 | €72,860 | €51,411 | -€21,449 | -29.4% |
| Trade receivables | 40 | €43,559 | €23,517 | -€20,042 | -46.0% |
| Other amounts receivable | 41 | €29,301 | €27,894 | -€1,407 | -4.8% |
| Cash at bank and in hand | 54/58 | €7,597 | €19,299 | +€11,702 | +154.0% |
| Deferred charges and accrued income | 490/1 | €13,658 | €13,607 | -€51 | -0.4% |
| Total equity and liabilities | 10/49 | €110,126 | €94,283 | -€15,842 | -14.4% |
| Equity | 10/15 | €58,689 | €63,179 | +€4,490 | +7.7% |
| Contributions | 10/11 | €1,100 | €1,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,589 | €62,079 | +€4,490 | +7.8% |
| Amounts payable | 17/49 | €51,437 | €31,105 | -€20,333 | -39.5% |
| Amounts payable after more than one year | 17 | €3,391 | - | -€3,391 | |
| Financial debts | 170/4 | €3,391 | - | -€3,391 | |
| Amounts payable within one year | 42/48 | €48,046 | €31,105 | -€16,942 | -35.3% |
| Current portion of amounts payable after more than one year | 42 | €3,960 | €3,391 | -€570 | -14.4% |
| Trade debts | 44 | €39,824 | €19,127 | -€20,697 | -52.0% |
| Suppliers | 440/4 | €39,824 | €19,127 | -€20,697 | -52.0% |
| Taxes, remuneration and social security | 45 | €4,262 | €8,587 | +€4,325 | +101.5% |
| Taxes | 450/3 | €4,262 | €8,587 | +€4,325 | +101.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,947 | €6,044 | +€97 | +1.6% |
| Other operating charges | 640/8 | €2,244 | €2,516 | +€271 | +12.1% |
| Gross operating margin | 9900 | €18,745 | €17,357 | -€1,388 | -7.4% |
| Operating profit (loss) | 9901 | €10,554 | €8,798 | -€1,757 | -16.6% |
| Financial income | 75/76B | €2,371 | €1,443 | -€928 | -39.1% |
| Recurring financial income | 75 | €2,371 | €1,443 | -€928 | -39.1% |
| Financial charges | 65/66B | €3,485 | €1,426 | -€2,059 | -59.1% |
| Recurring financial charges | 65 | €3,485 | €1,426 | -€2,059 | -59.1% |
| Profit (loss) for the period before taxes | 9903 | €9,440 | €8,815 | -€626 | -6.6% |
| Income taxes | 67/77 | €4,262 | €4,325 | +€62 | +1.5% |
| Profit (loss) for the period | 9904 | €5,178 | €4,490 | -€688 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,178 | €4,490 | -€688 | -13.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.