KDB Equestrian: 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.
KDB Equestrian
Largest movements
- Tangible fixed assets +€73,179
up €73,179 (+1482.4%), from €4,937 to €78,116
of which Furniture and vehicles: +€73,729
- Cash -€18,153
down €18,153 (-32.7%), from €55,583 to €37,430
mainly Investment in fixed assets (net) (-€84,015) and Current investments (-€5,000)
- Current investments +€5,000
new in 2025: €5,000
- Deferred charges and accrued income -€3,107
down €3,107 (-82.4%), from €3,771 to €664
- Receivables within one year +€1,662
up €1,662 (+23.7%), from €7,000 to €8,662
of which Trade receivables: +€1,470
- Other debts +€38,408
up €38,408 (+188.9%), from €20,337 to €58,745
- Profit (loss) carried forward +€16,549
up €16,549 (+27.3%), from -€60,515 to -€43,966
- Tax, wage and social debts +€3,177
up €3,177 (+61.3%), from €5,182 to €8,358
of which Taxes: +€3,177
- Gross operating margin +€16,016
up €16,016 (+83.1%), from €19,283 to €35,299
- Depreciation +€9,239
up €9,239 (+578.6%), from €1,597 to €10,836
- Other operating charges +€4,306
up €4,306 (+130.2%), from €3,308 to €7,615
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 | €81,791 | €140,372 | +€58,582 | +71.6% |
| Fixed assets | 21/28 | €4,937 | €78,116 | +€73,179 | +1482.4% |
| Tangible fixed assets | 22/27 | €4,937 | €78,116 | +€73,179 | +1482.4% |
| Plant, machinery and equipment | 23 | €809 | €259 | -€550 | -68.0% |
| Furniture and vehicles | 24 | €4,127 | €77,857 | +€73,729 | +1786.4% |
| Current assets | 29/58 | €76,854 | €62,256 | -€14,598 | -19.0% |
| Stocks and contracts in progress | 3 | €10,500 | €10,500 | = | 0.0% |
| Stocks | 30/36 | €10,500 | €10,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,000 | €8,662 | +€1,662 | +23.7% |
| Trade receivables | 40 | €7,000 | €8,470 | +€1,470 | +21.0% |
| Other amounts receivable | 41 | - | €192 | +€192 | |
| Current investments | 50/53 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €55,583 | €37,430 | -€18,153 | -32.7% |
| Deferred charges and accrued income | 490/1 | €3,771 | €664 | -€3,107 | -82.4% |
| Total equity and liabilities | 10/49 | €81,791 | €140,372 | +€58,582 | +71.6% |
| Equity | 10/15 | €55,745 | €72,294 | +€16,549 | +29.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €103,860 | €103,860 | = | 0.0% |
| Distributable reserves | 133 | €103,860 | €103,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,515 | -€43,966 | +€16,549 | +27.3% |
| Amounts payable | 17/49 | €26,045 | €68,078 | +€42,033 | +161.4% |
| Amounts payable within one year | 42/48 | €26,045 | €68,078 | +€42,033 | +161.4% |
| Trade debts | 44 | €527 | €195 | -€332 | -63.0% |
| Suppliers | 440/4 | €527 | €195 | -€332 | -63.0% |
| Advances received on contracts in progress | 46 | - | €780 | +€780 | |
| Taxes, remuneration and social security | 45 | €5,182 | €8,358 | +€3,177 | +61.3% |
| Taxes | 450/3 | €3,182 | €6,358 | +€3,177 | +99.8% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €20,337 | €58,745 | +€38,408 | +188.9% |
| Non-recurring operating income | 76A | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,597 | €10,836 | +€9,239 | +578.6% |
| Other operating charges | 640/8 | €3,308 | €7,615 | +€4,306 | +130.2% |
| Gross operating margin | 9900 | €19,283 | €35,299 | +€16,016 | +83.1% |
| Operating profit (loss) | 9901 | €14,378 | €16,849 | +€2,471 | +17.2% |
| Financial charges | 65/66B | €74 | €78 | +€4 | +5.7% |
| Recurring financial charges | 65 | €74 | €78 | +€4 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €14,304 | €16,771 | +€2,467 | +17.2% |
| Income taxes | 67/77 | €192 | €222 | +€30 | +15.4% |
| Profit (loss) for the period | 9904 | €14,112 | €16,549 | +€2,437 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,112 | €16,549 | +€2,437 | +17.3% |
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.