Kdc Advice: 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.
Kdc Advice
Largest movements
- Tangible fixed assets +€414,830
up €414,830 (+184.5%), from €224,895 to €639,724
of which Land and buildings: +€427,215
- Receivables after one year +€97,437
up €97,437 (+22.8%), from €426,797 to €524,234
- Receivables within one year -€50,198
down €50,198 (-38.4%), from €130,774 to €80,576
of which Other amounts receivable: -€56,814
- Current investments -€45,300
down €45,300 (-22.7%), from €200,000 to €154,700
- Cash -€34,359
down €34,359 (-39.0%), from €88,174 to €53,816
mainly Contributions, distributions and other (-€896,727) and Investment in fixed assets (net) (-€459,699)
- Reserves -€484,977
down €484,977 (-54.1%), from €896,727 to €411,750
of which Distributable reserves: -€484,977
- Other debts +€481,241
up €481,241 (+1415.9%), from €33,989 to €515,229
- Debts after one year +€344,725
up €344,725 (+331.7%), from €103,936 to €448,661
of which Financial debts: +€342,925
- Tax, wage and social debts +€37,183
up €37,183 (+193.7%), from €19,192 to €56,375
of which Taxes: +€41,683
- Gross operating margin +€249,257
up €249,257 (+64.2%), from €388,028 to €637,285
- Taxes +€103,446
up €103,446 (+108.9%), from €95,009 to €198,455
- Depreciation +€20,339
up €20,339 (+82.9%), from €24,531 to €44,869
- Financial charges +€8,520
up €8,520 (+324.8%), from €2,623 to €11,143
- Financial income +€8,444
up €8,444 (+34.5%), from €24,475 to €32,918
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 | €1,088,164 | €1,471,427 | +€383,263 | +35.2% |
| Fixed assets | 21/28 | €227,375 | €642,204 | +€414,830 | +182.4% |
| Tangible fixed assets | 22/27 | €224,895 | €639,724 | +€414,830 | +184.5% |
| Land and buildings | 22 | €180,755 | €607,970 | +€427,215 | +236.4% |
| Plant, machinery and equipment | 23 | €2,862 | €2,355 | -€507 | -17.7% |
| Furniture and vehicles | 24 | €41,278 | €29,399 | -€11,879 | -28.8% |
| Financial fixed assets | 28 | €2,480 | €2,480 | = | 0.0% |
| Current assets | 29/58 | €860,790 | €829,223 | -€31,567 | -3.7% |
| Amounts receivable after more than one year | 29 | €426,797 | €524,234 | +€97,437 | +22.8% |
| Other amounts receivable | 291 | €426,797 | €524,234 | +€97,437 | +22.8% |
| Amounts receivable within one year | 40/41 | €130,774 | €80,576 | -€50,198 | -38.4% |
| Trade receivables | 40 | €0 | €6,616 | +€6,616 | |
| Other amounts receivable | 41 | €130,774 | €73,959 | -€56,814 | -43.4% |
| Current investments | 50/53 | €200,000 | €154,700 | -€45,300 | -22.7% |
| Cash at bank and in hand | 54/58 | €88,174 | €53,816 | -€34,359 | -39.0% |
| Deferred charges and accrued income | 490/1 | €15,045 | €15,898 | +€853 | +5.7% |
| Total equity and liabilities | 10/49 | €1,088,164 | €1,471,427 | +€383,263 | +35.2% |
| Equity | 10/15 | €915,327 | €430,350 | -€484,977 | -53.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €896,727 | €411,750 | -€484,977 | -54.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €896,727 | €411,750 | -€484,977 | -54.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €172,837 | €1,041,077 | +€868,239 | +502.3% |
| Amounts payable after more than one year | 17 | €103,936 | €448,661 | +€344,725 | +331.7% |
| Financial debts | 170/4 | €103,936 | €446,861 | +€342,925 | +329.9% |
| Other amounts payable | 178/9 | - | €1,800 | +€1,800 | |
| Amounts payable within one year | 42/48 | €68,901 | €584,500 | +€515,599 | +748.3% |
| Current portion of amounts payable after more than one year | 42 | €6,928 | €7,075 | +€148 | +2.1% |
| Financial debts | 43 | - | €1,103 | +€1,103 | |
| Credit institutions | 430/8 | - | €1,103 | +€1,103 | |
| Trade debts | 44 | €8,794 | €4,718 | -€4,076 | -46.3% |
| Suppliers | 440/4 | €8,794 | €4,718 | -€4,076 | -46.3% |
| Taxes, remuneration and social security | 45 | €19,192 | €56,375 | +€37,183 | +193.7% |
| Taxes | 450/3 | €14,692 | €56,375 | +€41,683 | +283.7% |
| Remuneration and social security | 454/9 | €4,500 | €0 | -€4,500 | -100.0% |
| Other amounts payable | 47/48 | €33,989 | €515,229 | +€481,241 | +1415.9% |
| Accrued charges and deferred income | 492/3 | - | €7,915 | +€7,915 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,531 | €44,869 | +€20,339 | +82.9% |
| Other operating charges | 640/8 | €3,327 | €3,985 | +€658 | +19.8% |
| Gross operating margin | 9900 | €388,028 | €637,285 | +€249,257 | +64.2% |
| Operating profit (loss) | 9901 | €360,170 | €588,431 | +€228,261 | +63.4% |
| Financial income | 75/76B | €24,475 | €32,918 | +€8,444 | +34.5% |
| Recurring financial income | 75 | €24,475 | €32,918 | +€8,444 | +34.5% |
| Financial charges | 65/66B | €2,623 | €11,143 | +€8,520 | +324.8% |
| Recurring financial charges | 65 | €2,623 | €11,143 | +€8,520 | +324.8% |
| Profit (loss) for the period before taxes | 9903 | €382,022 | €610,206 | +€228,184 | +59.7% |
| Income taxes | 67/77 | €95,009 | €198,455 | +€103,446 | +108.9% |
| Profit (loss) for the period | 9904 | €287,013 | €411,750 | +€124,738 | +43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €287,013 | €411,750 | +€124,738 | +43.5% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.