KDER: 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.
KDER
Largest movements
- Cash +€32,254
up €32,254 (+34.8%), from €92,771 to €125,025
mainly Other debts (+€88,319) and Net result for the year (+€86,685)
- Tangible fixed assets +€12,245
up €12,245 (+149%), from €8,245 to €20,490
of which Furniture and vehicles: +€12,455
- Receivables within one year -€10,527
down €10,527 (-26.3%), from €39,964 to €29,437
of which Trade receivables: -€10,527
- Other debts +€88,319
up €88,319 (+28,093%), from €314 to €88,633
- Reserves -€54,915
down €54,915 (-52.6%), from €104,381 to €49,466
- Trade debts -€2,466
down €2,466 (-71.2%), from €3,465 to €999
- Tax, wage and social debts +€2,316
up €2,316 (+57.2%), from €4,048 to €6,364
of which Taxes: +€2,262
- Gross operating margin +€46,633
up €46,633 (+71.6%), from €65,103 to €111,736
- Taxes +€5,054
up €5,054 (+42.9%), from €11,793 to €16,848
- Depreciation +€4,483
up €4,483 (+286%), from €1,567 to €6,049
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.
Derived cash bridge
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 | €142,208 | €175,462 | +€33,254 | +23.4% |
| Fixed assets | 21/28 | €8,245 | €20,490 | +€12,245 | +149% |
| Tangible fixed assets | 22/27 | €8,245 | €20,490 | +€12,245 | +149% |
| Plant, machinery and equipment | 23 | €788 | €578 | -€210 | -26.7% |
| Furniture and vehicles | 24 | €7,458 | €19,913 | +€12,455 | +167% |
| Current assets | 29/58 | €133,963 | €154,972 | +€21,009 | +15.7% |
| Amounts receivable within one year | 40/41 | €39,964 | €29,437 | -€10,527 | -26.3% |
| Trade receivables | 40 | €30,492 | €19,965 | -€10,527 | -34.5% |
| Other amounts receivable | 41 | €9,472 | €9,472 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €92,771 | €125,025 | +€32,254 | +34.8% |
| Deferred charges and accrued income | 490/1 | €1,228 | €510 | -€718 | -58.5% |
| Total equity and liabilities | 10/49 | €142,208 | €175,462 | +€33,254 | +23.4% |
| Equity | 10/15 | €134,381 | €79,466 | -€54,915 | -40.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €104,381 | €49,466 | -€54,915 | -52.6% |
| Distributable reserves | 133 | €104,381 | €49,466 | -€54,915 | -52.6% |
| Amounts payable | 17/49 | €7,828 | €95,996 | +€88,169 | +1,126% |
| Amounts payable within one year | 42/48 | €7,828 | €95,996 | +€88,169 | +1,126% |
| Trade debts | 44 | €3,465 | €999 | -€2,466 | -71.2% |
| Suppliers | 440/4 | €3,465 | €999 | -€2,466 | -71.2% |
| Taxes, remuneration and social security | 45 | €4,048 | €6,364 | +€2,316 | +57.2% |
| Taxes | 450/3 | €4,047 | €6,309 | +€2,262 | +55.9% |
| Remuneration and social security | 454/9 | €1 | €55 | +€54 | +5,512% |
| Other amounts payable | 47/48 | €314 | €88,633 | +€88,319 | +28,093% |
| Non-recurring operating income | 76A | €97 | €6,315 | +€6,218 | +6,429% |
| Remuneration, social security and pensions | 62 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,567 | €6,049 | +€4,483 | +286% |
| Other operating charges | 640/8 | €257 | €270 | +€13 | +5.1% |
| Non-recurring operating charges | 66A | - | €1,359 | +€1,359 | |
| Gross operating margin | 9900 | €65,103 | €111,736 | +€46,633 | +71.6% |
| Operating profit (loss) | 9901 | €62,893 | €103,658 | +€40,766 | +64.8% |
| Financial income | 75/76B | €0 | €6 | +€6 | +20,233% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +20,233% |
| Financial charges | 65/66B | €83 | €132 | +€48 | +57.7% |
| Recurring financial charges | 65 | €83 | €132 | +€48 | +57.7% |
| Profit (loss) for the period before taxes | 9903 | €62,809 | €103,533 | +€40,724 | +64.8% |
| Income taxes | 67/77 | €11,793 | €16,848 | +€5,054 | +42.9% |
| Profit (loss) for the period | 9904 | €51,016 | €86,685 | +€35,669 | +69.9% |
| Profit (loss) for the period to be appropriated | 9905 | €51,016 | €86,685 | +€35,669 | +69.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.