KDC CONSULT: 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.
KDC CONSULT
Largest movements
- Current investments +€800,000
new in 2025: €800,000
- Cash -€650,227
down €650,227 (-75.4%), from €862,410 to €212,183
mainly Current investments (-€800,000) and Smaller working-capital items (-€3,744)
- Receivables after one year -€100,000
down €100,000 (-100.0%), from €100,000 to €0
of which Other amounts receivable: -€100,000
- Tangible fixed assets -€16,825
down €16,825 (-84.6%), from €19,898 to €3,074
- Reserves +€33,542
up €33,542 (+4.7%), from €711,098 to €744,640
- Depreciation -€9,774
down €9,774 (-35.1%), from €27,876 to €18,103
- Gross operating margin -€6,260
down €6,260 (-8.6%), from €73,212 to €66,951
- Financial income +€4,029
up €4,029 (+18.5%), from €21,765 to €25,794
- Financial charges -€3,499
down €3,499 (-11.7%), from €29,897 to €26,397
- Taxes +€3,007
up €3,007 (+30.1%), from €9,988 to €12,995
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 | €1,126,585 | €1,157,329 | +€30,744 | +2.7% |
| Fixed assets | 21/28 | €19,898 | €3,074 | -€16,825 | -84.6% |
| Tangible fixed assets | 22/27 | €19,898 | €3,074 | -€16,825 | -84.6% |
| Furniture and vehicles | 24 | €19,898 | €3,074 | -€16,825 | -84.6% |
| Current assets | 29/58 | €1,106,687 | €1,154,255 | +€47,569 | +4.3% |
| Amounts receivable after more than one year | 29 | €100,000 | €0 | -€100,000 | -100.0% |
| Trade receivables | 290 | - | €0 | = | |
| Other amounts receivable | 291 | €100,000 | - | -€100,000 | |
| Amounts receivable within one year | 40/41 | €144,277 | €141,127 | -€3,149 | -2.2% |
| Trade receivables | 40 | €32,985 | €34,343 | +€1,358 | +4.1% |
| Other amounts receivable | 41 | €111,292 | €106,785 | -€4,507 | -4.0% |
| Current investments | 50/53 | - | €800,000 | +€800,000 | |
| Cash at bank and in hand | 54/58 | €862,410 | €212,183 | -€650,227 | -75.4% |
| Deferred charges and accrued income | 490/1 | - | €945 | +€945 | |
| Total equity and liabilities | 10/49 | €1,126,585 | €1,157,329 | +€30,744 | +2.7% |
| Equity | 10/15 | €721,098 | €754,640 | +€33,542 | +4.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €711,098 | €744,640 | +€33,542 | +4.7% |
| Distributable reserves | 133 | €711,098 | €744,640 | +€33,542 | +4.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €405,488 | €402,689 | -€2,798 | -0.7% |
| Amounts payable after more than one year | 17 | €370,000 | €370,000 | = | 0.0% |
| Financial debts | 170/4 | €370,000 | €370,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €35,488 | €32,689 | -€2,798 | -7.9% |
| Trade debts | 44 | €1,003 | €598 | -€405 | -40.3% |
| Suppliers | 440/4 | €1,003 | €598 | -€405 | -40.3% |
| Taxes, remuneration and social security | 45 | €18,378 | €17,377 | -€1,001 | -5.4% |
| Taxes | 450/3 | €15,216 | €14,176 | -€1,040 | -6.8% |
| Remuneration and social security | 454/9 | €3,162 | €3,201 | +€39 | +1.2% |
| Other amounts payable | 47/48 | €16,107 | €14,714 | -€1,393 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,876 | €18,103 | -€9,774 | -35.1% |
| Other operating charges | 640/8 | €1,665 | €1,708 | +€43 | +2.6% |
| Gross operating margin | 9900 | €73,212 | €66,951 | -€6,260 | -8.6% |
| Operating profit (loss) | 9901 | €43,670 | €47,141 | +€3,470 | +7.9% |
| Financial income | 75/76B | €21,765 | €25,794 | +€4,029 | +18.5% |
| Recurring financial income | 75 | €21,765 | €25,794 | +€4,029 | +18.5% |
| Financial charges | 65/66B | €29,897 | €26,397 | -€3,499 | -11.7% |
| Recurring financial charges | 65 | €29,897 | €26,397 | -€3,499 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €35,539 | €46,537 | +€10,999 | +30.9% |
| Income taxes | 67/77 | €9,988 | €12,995 | +€3,007 | +30.1% |
| Profit (loss) for the period | 9904 | €25,551 | €33,542 | +€7,991 | +31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €25,551 | €33,542 | +€7,991 | +31.3% |
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 4 October 2026 via checked.be.