KD PROJECTS: 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.
KD PROJECTS
Largest movements
- Tangible fixed assets -€8,000
down €8,000 (-10.3%), from €77,874 to €69,874
- Cash +€2,405
up €2,405 (+126%), from €1,903 to €4,308
mainly Depreciation (+€9,774) and Debts after one year (+€8,426)
- Formation expenses -€1,774
down €1,774 (-59.7%), from €2,969 to €1,195
- Other debts -€20,000
down €20,000 (-85.9%), from €23,276 to €3,276
- Debts after one year +€8,426
up €8,426 (+17.6%), from €47,946 to €56,372
- Trade debts +€3,682
up €3,682 (+388%), from €948 to €4,629
- Profit (loss) carried forward -€2,015
down €2,015 (-80.1%), from -€2,514 to -€4,529
- Tax, wage and social debts +€1,039
up €1,039 (+624%), from €166 to €1,205
- Gross operating margin +€8,142
up €8,142 (+356%), from €2,289 to €10,431
- Depreciation +€7,069
up €7,069 (+261%), from €2,704 to €9,774
- Financial charges +€460
up €460 (+28.8%), from €1,596 to €2,056
- Other operating charges +€113
up €113 (+22.4%), from €503 to €616
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 | €84,032 | €75,595 | -€8,437 | -10.0% |
| Formation expenses | 20 | €2,969 | €1,195 | -€1,774 | -59.7% |
| Fixed assets | 21/28 | €77,874 | €69,874 | -€8,000 | -10.3% |
| Tangible fixed assets | 22/27 | €77,874 | €69,874 | -€8,000 | -10.3% |
| Plant, machinery and equipment | 23 | €77,874 | €69,874 | -€8,000 | -10.3% |
| Current assets | 29/58 | €3,189 | €4,526 | +€1,337 | +41.9% |
| Stocks and contracts in progress | 3 | €499 | €218 | -€281 | -56.3% |
| Stocks | 30/36 | €499 | €218 | -€281 | -56.3% |
| Cash at bank and in hand | 54/58 | €1,903 | €4,308 | +€2,405 | +126% |
| Deferred charges and accrued income | 490/1 | €787 | €0 | -€787 | -100% |
| Total equity and liabilities | 10/49 | €84,032 | €75,595 | -€8,437 | -10.0% |
| Equity | 10/15 | €486 | -€1,529 | -€2,015 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,514 | -€4,529 | -€2,015 | -80.1% |
| Amounts payable | 17/49 | €83,546 | €77,124 | -€6,422 | -7.7% |
| Amounts payable after more than one year | 17 | €47,946 | €56,372 | +€8,426 | +17.6% |
| Financial debts | 170/4 | €47,946 | €56,372 | +€8,426 | +17.6% |
| Amounts payable within one year | 42/48 | €35,534 | €20,685 | -€14,849 | -41.8% |
| Current portion of amounts payable after more than one year | 42 | €11,144 | €11,574 | +€430 | +3.9% |
| Trade debts | 44 | €948 | €4,629 | +€3,682 | +388% |
| Suppliers | 440/4 | €948 | €4,629 | +€3,682 | +388% |
| Taxes, remuneration and social security | 45 | €166 | €1,205 | +€1,039 | +624% |
| Taxes | 450/3 | €166 | €1,205 | +€1,039 | +624% |
| Other amounts payable | 47/48 | €23,276 | €3,276 | -€20,000 | -85.9% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,704 | €9,774 | +€7,069 | +261% |
| Other operating charges | 640/8 | €503 | €616 | +€113 | +22.4% |
| Gross operating margin | 9900 | €2,289 | €10,431 | +€8,142 | +356% |
| Operating profit (loss) | 9901 | -€918 | €42 | +€960 | |
| Financial charges | 65/66B | €1,596 | €2,056 | +€460 | +28.8% |
| Recurring financial charges | 65 | €1,596 | €2,056 | +€460 | +28.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,514 | -€2,015 | +€500 | +19.9% |
| Profit (loss) for the period | 9904 | -€2,514 | -€2,015 | +€500 | +19.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,514 | -€2,015 | +€500 | +19.9% |
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 15 October 2026 via checked.be.