KDC PROJECTS: what changed
KDC PROJECTS
Largest movements
- Cash +€84,177
up €84,177 (+92.3%), from €91,152 to €175,329
mainly Short-term financial debts (+€100,000) and Net result for the year (+€51,663)
- Receivables within one year -€41,970
down €41,970 (-21.2%), from €198,098 to €156,128
of which Trade receivables: -€66,574
- Stocks and contracts -€18,542
down €18,542 (-51.7%), from €35,832 to €17,290
of which Contracts in progress: -€21,832
- Tangible fixed assets -€9,784
down €9,784 (-26.2%), from €37,348 to €27,564
of which Leasing and similar rights: -€5,590
- Deferred charges and accrued income -€5,303
down €5,303 (-63.7%), from €8,320 to €3,017
- Short-term financial debts +€100,000
new in 2025: €100,000
- Reserves -€64,974
down €64,974 (-55.7%), from €116,637 to €51,663
- Trade debts -€42,032
down €42,032 (-38.4%), from €109,523 to €67,491
- Other debts +€22,642
up €22,642 (+29.6%), from €76,500 to €99,142
- Debts after one year -€16,083
down €16,083 (-77.0%), from €20,890 to €4,807
- Staff costs -€74,072
down €74,072 (-44.0%), from €168,245 to €94,173
- Gross operating margin -€63,957
down €63,957 (-25.9%), from €246,509 to €182,553
- Other operating charges -€6,992
down €6,992 (-82.7%), from €8,457 to €1,465
- Financial income +€5,010
up €5,010 (+2,422%), from €207 to €5,217
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €370,751 | €379,329 | +€8,578 | +2.3% |
| Fixed assets | 21/28 | €37,348 | €27,564 | -€9,784 | -26.2% |
| Tangible fixed assets | 22/27 | €37,348 | €27,564 | -€9,784 | -26.2% |
| Land and buildings | 22 | €1,275 | €1,200 | -€75 | -5.9% |
| Plant, machinery and equipment | 23 | €10,618 | €6,530 | -€4,088 | -38.5% |
| Furniture and vehicles | 24 | €12,009 | €11,978 | -€31 | -0.3% |
| Leasing and similar rights | 25 | €13,447 | €7,857 | -€5,590 | -41.6% |
| Current assets | 29/58 | €333,403 | €351,765 | +€18,362 | +5.5% |
| Stocks and contracts in progress | 3 | €35,832 | €17,290 | -€18,542 | -51.7% |
| Stocks | 30/36 | €14,000 | €17,290 | +€3,290 | +23.5% |
| Contracts in progress | 37 | €21,832 | - | -€21,832 | |
| Amounts receivable within one year | 40/41 | €198,098 | €156,128 | -€41,970 | -21.2% |
| Trade receivables | 40 | €126,479 | €59,905 | -€66,574 | -52.6% |
| Other amounts receivable | 41 | €71,619 | €96,223 | +€24,605 | +34.4% |
| Cash at bank and in hand | 54/58 | €91,152 | €175,329 | +€84,177 | +92.3% |
| Deferred charges and accrued income | 490/1 | €8,320 | €3,017 | -€5,303 | -63.7% |
| Total equity and liabilities | 10/49 | €370,751 | €379,329 | +€8,578 | +2.3% |
| Equity | 10/15 | €123,137 | €58,163 | -€64,974 | -52.8% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €116,637 | €51,663 | -€64,974 | -55.7% |
| Distributable reserves | 133 | €116,637 | €51,663 | -€64,974 | -55.7% |
| Amounts payable | 17/49 | €247,614 | €321,165 | +€73,552 | +29.7% |
| Amounts payable after more than one year | 17 | €20,890 | €4,807 | -€16,083 | -77.0% |
| Financial debts | 170/4 | €20,890 | €4,807 | -€16,083 | -77.0% |
| Amounts payable within one year | 42/48 | €226,724 | €316,359 | +€89,635 | +39.5% |
| Current portion of amounts payable after more than one year | 42 | €21,874 | €22,438 | +€564 | +2.6% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €109,523 | €67,491 | -€42,032 | -38.4% |
| Suppliers | 440/4 | €109,523 | €67,491 | -€42,032 | -38.4% |
| Taxes, remuneration and social security | 45 | €18,827 | €27,288 | +€8,462 | +44.9% |
| Taxes | 450/3 | €13,536 | €25,768 | +€12,232 | +90.4% |
| Remuneration and social security | 454/9 | €5,291 | €1,521 | -€3,770 | -71.3% |
| Other amounts payable | 47/48 | €76,500 | €99,142 | +€22,642 | +29.6% |
| Non-recurring operating income | 76A | €2,500 | - | -€2,500 | |
| Remuneration, social security and pensions | 62 | €168,245 | €94,173 | -€74,072 | -44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,909 | €16,214 | -€1,694 | -9.5% |
| Other operating charges | 640/8 | €8,457 | €1,465 | -€6,992 | -82.7% |
| Non-recurring operating charges | 66A | - | €1,513 | +€1,513 | |
| Gross operating margin | 9900 | €246,509 | €182,553 | -€63,957 | -25.9% |
| Operating profit (loss) | 9901 | €51,899 | €69,188 | +€17,289 | +33.3% |
| Financial income | 75/76B | €207 | €5,217 | +€5,010 | +2,422% |
| Recurring financial income | 75 | €207 | €5,217 | +€5,010 | +2,422% |
| Financial charges | 65/66B | €2,999 | €3,177 | +€178 | +5.9% |
| Recurring financial charges | 65 | €2,999 | €3,177 | +€178 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €49,107 | €71,228 | +€22,121 | +45.0% |
| Income taxes | 67/77 | €17,487 | €19,564 | +€2,077 | +11.9% |
| Profit (loss) for the period | 9904 | €31,620 | €51,663 | +€20,044 | +63.4% |
| Profit (loss) for the period to be appropriated | 9905 | €31,620 | €51,663 | +€20,044 | +63.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.