KDB: 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.
KDB
Largest movements
- Receivables within one year +€18,827
up €18,827 (+269%), from €6,991 to €25,817
of which Other amounts receivable: +€18,680
- Cash -€15,114
down €15,114 (-23.0%), from €65,728 to €50,614
mainly Other debts (-€30,284) and Receivables within one year (-€18,827)
- Tangible fixed assets -€9,179
down €9,179 (-24.0%), from €38,204 to €29,025
- Other debts -€30,284
no longer reported in 2025 (was €30,284)
- Reserves +€24,080
up €24,080 (+48.4%), from €49,718 to €73,798
- Tax, wage and social debts +€2,374
up €2,374 (+26.5%), from €8,975 to €11,349
of which Remuneration and social security: +€7,148
- Staff costs +€40,942
up €40,942 (+308%), from €13,306 to €54,248
- Gross operating margin +€29,292
up €29,292 (+38.5%), from €76,062 to €105,354
- Depreciation -€6,584
down €6,584 (-33.0%), from €19,970 to €13,385
- Other operating charges +€2,875
up €2,875 (+131%), from €2,189 to €5,064
- Taxes -€1,947
down €1,947 (-18.6%), from €10,464 to €8,517
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 | €114,885 | €110,531 | -€4,354 | -3.8% |
| Fixed assets | 21/28 | €39,254 | €30,075 | -€9,179 | -23.4% |
| Tangible fixed assets | 22/27 | €38,204 | €29,025 | -€9,179 | -24.0% |
| Plant, machinery and equipment | 23 | €828 | €413 | -€416 | -50.2% |
| Furniture and vehicles | 24 | €32,570 | €27,991 | -€4,579 | -14.1% |
| Other tangible fixed assets | 26 | €4,805 | €622 | -€4,184 | -87.1% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €75,631 | €80,456 | +€4,825 | +6.4% |
| Stocks and contracts in progress | 3 | €925 | €1,385 | +€459 | +49.6% |
| Stocks | 30/36 | €925 | €1,385 | +€459 | +49.6% |
| Amounts receivable within one year | 40/41 | €6,991 | €25,817 | +€18,827 | +269% |
| Trade receivables | 40 | - | €147 | +€147 | |
| Other amounts receivable | 41 | €6,991 | €25,670 | +€18,680 | +267% |
| Cash at bank and in hand | 54/58 | €65,728 | €50,614 | -€15,114 | -23.0% |
| Deferred charges and accrued income | 490/1 | €1,987 | €2,640 | +€653 | +32.9% |
| Total equity and liabilities | 10/49 | €114,885 | €110,531 | -€4,354 | -3.8% |
| Equity | 10/15 | €68,318 | €92,398 | +€24,080 | +35.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,718 | €73,798 | +€24,080 | +48.4% |
| Distributable reserves | 133 | €49,718 | €73,798 | +€24,080 | +48.4% |
| Amounts payable | 17/49 | €46,566 | €18,133 | -€28,434 | -61.1% |
| Amounts payable within one year | 42/48 | €46,566 | €18,133 | -€28,434 | -61.1% |
| Trade debts | 44 | €7,307 | €6,784 | -€523 | -7.2% |
| Suppliers | 440/4 | €7,307 | €6,784 | -€523 | -7.2% |
| Taxes, remuneration and social security | 45 | €8,975 | €11,349 | +€2,374 | +26.5% |
| Taxes | 450/3 | €4,898 | €124 | -€4,774 | -97.5% |
| Remuneration and social security | 454/9 | €4,077 | €11,225 | +€7,148 | +175% |
| Other amounts payable | 47/48 | €30,284 | - | -€30,284 | |
| Remuneration, social security and pensions | 62 | €13,306 | €54,248 | +€40,942 | +308% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,970 | €13,385 | -€6,584 | -33.0% |
| Other operating charges | 640/8 | €2,189 | €5,064 | +€2,875 | +131% |
| Gross operating margin | 9900 | €76,062 | €105,354 | +€29,292 | +38.5% |
| Operating profit (loss) | 9901 | €40,598 | €32,656 | -€7,941 | -19.6% |
| Financial income | 75/76B | €10 | €482 | +€472 | +4,660% |
| Recurring financial income | 75 | €10 | €482 | +€472 | +4,660% |
| Financial charges | 65/66B | €174 | €541 | +€368 | +212% |
| Recurring financial charges | 65 | €174 | €541 | +€368 | +212% |
| Profit (loss) for the period before taxes | 9903 | €40,434 | €32,597 | -€7,837 | -19.4% |
| Income taxes | 67/77 | €10,464 | €8,517 | -€1,947 | -18.6% |
| Profit (loss) for the period | 9904 | €29,970 | €24,080 | -€5,890 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,970 | €24,080 | -€5,890 | -19.7% |
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 27 October 2026 via checked.be.