KDC INVEST: 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.
What changed
KDC INVEST
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€124,816
2024 · -€115,912-€8,904
Equity
€5.1m
2024 · €5.3m-€124,816
Cash
€74,329
2024 · €98,372-€24,043
Balance sheet total
€5.7m
2024 · €5.8m-€129,446
Largest movements
Assets
- Tangible fixed assets -€122,812
down €122,812 (-2.2%), from €5.7m to €5.5m
Equity and liabilities
- Profit (loss) carried forward -€124,816
down €124,816 (-103.0%), from -€121,132 to -€245,948
Income statement
- Gross operating margin -€9,296
down €9,296 (-25.5%), from €36,520 to €27,224
- Financial charges -€601
down €601 (-2.8%), from €21,272 to €20,671
of which Non-recurring financial charges: -€650
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.
Result 2024
-€115,912
Gross operating margin
-€9,296
Other operating charges
-€200
Financial income
-€8
Financial charges
+€601
Result 2025
-€124,816
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.
From operations
-€651
Investment
-€24,738
Financing
+€1,347
Cash 2024
€98,372
From operations (derived)
-€651
Net result for the year
-€124,816
Depreciation
+€122,812
Receivables within one year
+€7,352
Smaller working-capital items
+€105
Other debts
-€11,347
Accrued charges and deferred income
+€5,242
Investment (derived)
-€24,738
Investment in fixed assets (net)
-€24,738
Financing
+€1,347
Debts after one year
+€1,347
Cash 2025
€74,329
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,810,049 | €5,680,603 | -€129,446 | -2.2% |
| Fixed assets | 21/28 | €5,673,709 | €5,575,635 | -€98,074 | -1.7% |
| Tangible fixed assets | 22/27 | €5,666,209 | €5,543,397 | -€122,812 | -2.2% |
| Land and buildings | 22 | €5,666,209 | €5,543,397 | -€122,812 | -2.2% |
| Financial fixed assets | 28 | €7,500 | €32,238 | +€24,738 | +329.8% |
| Current assets | 29/58 | €136,340 | €104,968 | -€31,372 | -23.0% |
| Amounts receivable within one year | 40/41 | €36,579 | €29,227 | -€7,352 | -20.1% |
| Trade receivables | 40 | €169 | €0 | -€169 | -100.0% |
| Other amounts receivable | 41 | €36,411 | €29,227 | -€7,184 | -19.7% |
| Cash at bank and in hand | 54/58 | €98,372 | €74,329 | -€24,043 | -24.4% |
| Deferred charges and accrued income | 490/1 | €1,388 | €1,412 | +€23 | +1.7% |
| Total equity and liabilities | 10/49 | €5,810,049 | €5,680,603 | -€129,446 | -2.2% |
| Equity | 10/15 | €5,263,638 | €5,138,822 | -€124,816 | -2.4% |
| Contributions | 10/11 | €5,326,577 | €5,326,577 | = | 0.0% |
| Capital | 10 | €5,326,577 | €5,326,577 | = | 0.0% |
| Issued capital | 100 | €5,326,577 | €5,326,577 | = | 0.0% |
| Reserves | 13 | €58,193 | €58,193 | = | 0.0% |
| Non-distributable reserves | 130/1 | €57,968 | €57,968 | = | 0.0% |
| Legal reserve | 130 | €37,800 | €37,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,168 | €20,168 | = | 0.0% |
| Tax-exempt reserves | 132 | €225 | €225 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€121,132 | -€245,948 | -€124,816 | -103.0% |
| Amounts payable | 17/49 | €546,410 | €541,781 | -€4,630 | -0.8% |
| Amounts payable after more than one year | 17 | €500,000 | €501,347 | +€1,347 | +0.3% |
| Other amounts payable | 178/9 | €500,000 | €501,347 | +€1,347 | +0.3% |
| Amounts payable within one year | 42/48 | €18,906 | €7,687 | -€11,218 | -59.3% |
| Trade debts | 44 | €7,559 | €7,687 | +€128 | +1.7% |
| Suppliers | 440/4 | €7,559 | €7,687 | +€128 | +1.7% |
| Other amounts payable | 47/48 | €11,347 | €0 | -€11,347 | -100.0% |
| Accrued charges and deferred income | 492/3 | €27,504 | €32,746 | +€5,242 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,812 | €122,812 | = | 0.0% |
| Other operating charges | 640/8 | €8,646 | €8,846 | +€200 | +2.3% |
| Gross operating margin | 9900 | €36,520 | €27,224 | -€9,296 | -25.5% |
| Operating profit (loss) | 9901 | -€94,937 | -€104,434 | -€9,497 | -10.0% |
| Financial income | 75/76B | €297 | €288 | -€8 | -2.8% |
| Recurring financial income | 75 | €297 | €288 | -€8 | -2.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €21,272 | €20,671 | -€601 | -2.8% |
| Recurring financial charges | 65 | €20,072 | €20,121 | +€49 | +0.2% |
| Non-recurring financial charges | 66B | €1,200 | €550 | -€650 | -54.2% |
| Profit (loss) for the period before taxes | 9903 | -€115,912 | -€124,816 | -€8,904 | -7.7% |
| Profit (loss) for the period | 9904 | -€115,912 | -€124,816 | -€8,904 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€115,912 | -€124,816 | -€8,904 | -7.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.