KDC MANAGEMENT: 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 MANAGEMENT
Largest movements
- Receivables within one year -€100,018
down €100,018 (-55.7%), from €179,549 to €79,532
of which Trade receivables: -€93,386
- Cash +€19,805
up €19,805 (+677.7%), from €2,923 to €22,728
mainly Receivables within one year (+€100,018) and Tax, wage and social debts (+€6,972)
- Tangible fixed assets -€5,597
down €5,597 (-42.3%), from €13,225 to €7,628
of which Furniture and vehicles: -€3,785
- Trade debts -€73,345
down €73,345 (-79.9%), from €91,777 to €18,432
- Profit (loss) carried forward -€11,537
new in 2025: -€11,537
- Debts after one year -€9,701
no longer reported in 2025 (was €9,701)
- Tax, wage and social debts +€6,972
up €6,972 (+169.2%), from €4,120 to €11,092
of which Taxes: +€6,494
- Gross operating margin -€63,585
down €63,585 (-43.4%), from €146,653 to €83,069
- Financial charges -€30,064
down €30,064 (-98.2%), from €30,599 to €536
of which Non-recurring financial charges: -€25,838
- Staff costs -€11,120
down €11,120 (-11.5%), from €97,095 to €85,975
- Taxes -€2,717
down €2,717 (-100.0%), from €2,717 to €0
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 | €221,399 | €133,829 | -€87,570 | -39.6% |
| Fixed assets | 21/28 | €13,748 | €8,371 | -€5,377 | -39.1% |
| Tangible fixed assets | 22/27 | €13,225 | €7,628 | -€5,597 | -42.3% |
| Plant, machinery and equipment | 23 | €4,931 | €3,119 | -€1,812 | -36.8% |
| Furniture and vehicles | 24 | €8,294 | €4,509 | -€3,785 | -45.6% |
| Financial fixed assets | 28 | €523 | €743 | +€220 | +42.1% |
| Current assets | 29/58 | €207,650 | €125,458 | -€82,192 | -39.6% |
| Amounts receivable after more than one year | 29 | €1,944 | €1,694 | -€250 | -12.9% |
| Trade receivables | 290 | €1,944 | €1,694 | -€250 | -12.9% |
| Stocks and contracts in progress | 3 | €22,334 | €20,269 | -€2,065 | -9.2% |
| Stocks | 30/36 | €22,334 | €20,269 | -€2,065 | -9.2% |
| Amounts receivable within one year | 40/41 | €179,549 | €79,532 | -€100,018 | -55.7% |
| Trade receivables | 40 | €165,417 | €72,032 | -€93,386 | -56.5% |
| Other amounts receivable | 41 | €14,132 | €7,500 | -€6,632 | -46.9% |
| Cash at bank and in hand | 54/58 | €2,923 | €22,728 | +€19,805 | +677.7% |
| Deferred charges and accrued income | 490/1 | €900 | €1,235 | +€335 | +37.2% |
| Total equity and liabilities | 10/49 | €221,399 | €133,829 | -€87,570 | -39.6% |
| Equity | 10/15 | €111,539 | €100,002 | -€11,537 | -10.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €99,139 | €99,139 | = | 0.0% |
| Distributable reserves | 133 | €99,139 | €99,139 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€11,537 | -€11,537 | |
| Amounts payable | 17/49 | €109,860 | €33,827 | -€76,033 | -69.2% |
| Amounts payable after more than one year | 17 | €9,701 | - | -€9,701 | |
| Financial debts | 170/4 | €9,701 | - | -€9,701 | |
| Amounts payable within one year | 42/48 | €100,159 | €33,827 | -€66,332 | -66.2% |
| Current portion of amounts payable after more than one year | 42 | €2,535 | €2,524 | -€11 | -0.4% |
| Financial debts | 43 | €1,727 | €1,779 | +€52 | +3.0% |
| Other loans | 439 | €1,727 | €1,779 | +€52 | +3.0% |
| Trade debts | 44 | €91,777 | €18,432 | -€73,345 | -79.9% |
| Suppliers | 440/4 | €91,777 | €18,432 | -€73,345 | -79.9% |
| Taxes, remuneration and social security | 45 | €4,120 | €11,092 | +€6,972 | +169.2% |
| Taxes | 450/3 | €10 | €6,504 | +€6,494 | +68147.3% |
| Remuneration and social security | 454/9 | €4,111 | €4,588 | +€477 | +11.6% |
| Remuneration, social security and pensions | 62 | €97,095 | €85,975 | -€11,120 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,589 | €5,597 | -€991 | -15.0% |
| Other operating charges | 640/8 | €1,724 | €2,498 | +€773 | +44.9% |
| Gross operating margin | 9900 | €146,653 | €83,069 | -€63,585 | -43.4% |
| Operating profit (loss) | 9901 | €41,245 | -€11,001 | -€52,247 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +30.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +30.0% |
| Financial charges | 65/66B | €30,599 | €536 | -€30,064 | -98.2% |
| Recurring financial charges | 65 | €4,762 | €536 | -€4,226 | -88.8% |
| Non-recurring financial charges | 66B | €25,838 | - | -€25,838 | |
| Profit (loss) for the period before taxes | 9903 | €10,646 | -€11,537 | -€22,183 | |
| Income taxes | 67/77 | €2,717 | €0 | -€2,717 | -100.0% |
| Profit (loss) for the period | 9904 | €7,929 | -€11,537 | -€19,466 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,929 | -€11,537 | -€19,466 |
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 30 September 2026 via checked.be.