KD Management: 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 Management
Largest movements
- Cash +€21,837
up €21,837 (+98.4%), from €22,193 to €44,030
mainly Other debts (+€53,824) and Net result for the year (+€34,416)
- Receivables within one year +€16,528
up €16,528 (+55.6%), from €29,743 to €46,271
of which Other amounts receivable: +€12,553
- Tangible fixed assets -€16,486
down €16,486 (-22.6%), from €72,906 to €56,420
of which Furniture and vehicles: -€11,954
- Other debts +€53,824
up €53,824 (+457.5%), from €11,765 to €65,588
- Reserves -€31,172
down €31,172 (-37.2%), from €83,730 to €52,558
- Tax, wage and social debts +€2,254
up €2,254 (+31.8%), from €7,097 to €9,351
- Advances received -€1,779
no longer reported in 2025 (was €1,779)
- Gross operating margin +€26,479
up €26,479 (+57.3%), from €46,214 to €72,693
- Taxes +€8,154
up €8,154 (+133.3%), from €6,119 to €14,273
- Other operating charges +€3,458
up €3,458 (+156.2%), from €2,214 to €5,672
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 | €124,975 | €146,924 | +€21,949 | +17.6% |
| Fixed assets | 21/28 | €72,906 | €56,420 | -€16,486 | -22.6% |
| Tangible fixed assets | 22/27 | €72,906 | €56,420 | -€16,486 | -22.6% |
| Land and buildings | 22 | €15,769 | €12,783 | -€2,986 | -18.9% |
| Plant, machinery and equipment | 23 | €2,591 | €1,727 | -€864 | -33.3% |
| Furniture and vehicles | 24 | €51,958 | €40,004 | -€11,954 | -23.0% |
| Other tangible fixed assets | 26 | €2,588 | €1,905 | -€682 | -26.4% |
| Current assets | 29/58 | €52,069 | €90,505 | +€38,436 | +73.8% |
| Amounts receivable within one year | 40/41 | €29,743 | €46,271 | +€16,528 | +55.6% |
| Trade receivables | 40 | €11,150 | €15,125 | +€3,975 | +35.7% |
| Other amounts receivable | 41 | €18,593 | €31,146 | +€12,553 | +67.5% |
| Cash at bank and in hand | 54/58 | €22,193 | €44,030 | +€21,837 | +98.4% |
| Deferred charges and accrued income | 490/1 | €133 | €204 | +€71 | +53.1% |
| Total equity and liabilities | 10/49 | €124,975 | €146,924 | +€21,949 | +17.6% |
| Equity | 10/15 | €102,330 | €71,158 | -€31,172 | -30.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €83,730 | €52,558 | -€31,172 | -37.2% |
| Distributable reserves | 133 | €83,730 | €52,558 | -€31,172 | -37.2% |
| Amounts payable | 17/49 | €22,645 | €75,766 | +€53,121 | +234.6% |
| Amounts payable within one year | 42/48 | €22,645 | €75,766 | +€53,121 | +234.6% |
| Trade debts | 44 | €2,005 | €827 | -€1,178 | -58.8% |
| Suppliers | 440/4 | €2,005 | €827 | -€1,178 | -58.8% |
| Advances received on contracts in progress | 46 | €1,779 | - | -€1,779 | |
| Taxes, remuneration and social security | 45 | €7,097 | €9,351 | +€2,254 | +31.8% |
| Taxes | 450/3 | €7,097 | €9,351 | +€2,254 | +31.8% |
| Other amounts payable | 47/48 | €11,765 | €65,588 | +€53,824 | +457.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,281 | €19,288 | +€7 | 0.0% |
| Other operating charges | 640/8 | €2,214 | €5,672 | +€3,458 | +156.2% |
| Gross operating margin | 9900 | €46,214 | €72,693 | +€26,479 | +57.3% |
| Operating profit (loss) | 9901 | €24,719 | €47,733 | +€23,014 | +93.1% |
| Financial income | 75/76B | €1,331 | €1,134 | -€197 | -14.8% |
| Recurring financial income | 75 | €1,331 | €1,134 | -€197 | -14.8% |
| Financial charges | 65/66B | €158 | €178 | +€20 | +12.8% |
| Recurring financial charges | 65 | €158 | €178 | +€20 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €25,892 | €48,689 | +€22,797 | +88.0% |
| Income taxes | 67/77 | €6,119 | €14,273 | +€8,154 | +133.3% |
| Profit (loss) for the period | 9904 | €19,773 | €34,416 | +€14,643 | +74.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,773 | €34,416 | +€14,643 | +74.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.