KDF TELECOM: 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.
KDF TELECOM
Largest movements
- Cash -€22,339
down €22,339 (-97.7%), from €22,856 to €517
mainly Tax, wage and social debts (-€8,026) and Investment in fixed assets (net) (-€7,200)
- Tangible fixed assets +€5,149
up €5,149 (+227.6%), from €2,262 to €7,411
of which Furniture and vehicles: +€5,452
- Receivables within one year -€3,373
down €3,373 (-9.9%), from €33,902 to €30,530
of which Trade receivables: -€11,389
- Receivables after one year +€2,632
up €2,632 (+15.4%), from €17,043 to €19,675
- Deferred charges and accrued income +€966
up €966 (+60.2%), from €1,605 to €2,570
- Tax, wage and social debts -€8,026
down €8,026 (-53.6%), from €14,966 to €6,941
of which Taxes: -€9,174
- Profit (loss) carried forward -€5,094
down €5,094 (-12.8%), from €39,881 to €34,786
- Trade debts -€4,895
down €4,895 (-27.1%), from €18,040 to €13,144
- Advances received +€1,051
new in 2025: €1,051
- Staff costs +€21,199
up €21,199 (+59.4%), from €35,678 to €56,876
- Gross operating margin +€12,279
up €12,279 (+23.9%), from €51,447 to €63,726
- Other operating charges +€4,290
up €4,290 (+136.0%), from €3,155 to €7,446
- Taxes -€2,872
down €2,872 (-72.0%), from €3,989 to €1,117
- Depreciation -€1,771
down €1,771 (-46.3%), from €3,822 to €2,051
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 | €77,887 | €60,922 | -€16,964 | -21.8% |
| Fixed assets | 21/28 | €2,481 | €7,630 | +€5,149 | +207.6% |
| Tangible fixed assets | 22/27 | €2,262 | €7,411 | +€5,149 | +227.6% |
| Plant, machinery and equipment | 23 | €366 | €63 | -€303 | -82.8% |
| Furniture and vehicles | 24 | €1,896 | €7,348 | +€5,452 | +287.5% |
| Financial fixed assets | 28 | €218 | €218 | = | 0.0% |
| Current assets | 29/58 | €75,406 | €53,292 | -€22,113 | -29.3% |
| Amounts receivable after more than one year | 29 | €17,043 | €19,675 | +€2,632 | +15.4% |
| Other amounts receivable | 291 | €17,043 | €19,675 | +€2,632 | +15.4% |
| Amounts receivable within one year | 40/41 | €33,902 | €30,530 | -€3,373 | -9.9% |
| Trade receivables | 40 | €33,902 | €22,514 | -€11,389 | -33.6% |
| Other amounts receivable | 41 | - | €8,016 | +€8,016 | |
| Cash at bank and in hand | 54/58 | €22,856 | €517 | -€22,339 | -97.7% |
| Deferred charges and accrued income | 490/1 | €1,605 | €2,570 | +€966 | +60.2% |
| Total equity and liabilities | 10/49 | €77,887 | €60,922 | -€16,964 | -21.8% |
| Equity | 10/15 | €44,881 | €39,786 | -€5,094 | -11.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,881 | €34,786 | -€5,094 | -12.8% |
| Amounts payable | 17/49 | €33,006 | €21,136 | -€11,870 | -36.0% |
| Amounts payable within one year | 42/48 | €33,006 | €21,136 | -€11,870 | -36.0% |
| Trade debts | 44 | €18,040 | €13,144 | -€4,895 | -27.1% |
| Suppliers | 440/4 | €18,040 | €13,144 | -€4,895 | -27.1% |
| Advances received on contracts in progress | 46 | - | €1,051 | +€1,051 | |
| Taxes, remuneration and social security | 45 | €14,966 | €6,941 | -€8,026 | -53.6% |
| Taxes | 450/3 | €13,498 | €4,325 | -€9,174 | -68.0% |
| Remuneration and social security | 454/9 | €1,468 | €2,616 | +€1,148 | +78.2% |
| Non-recurring operating income | 76A | €168 | €8,441 | +€8,273 | +4918.3% |
| Remuneration, social security and pensions | 62 | €35,678 | €56,876 | +€21,199 | +59.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,822 | €2,051 | -€1,771 | -46.3% |
| Other operating charges | 640/8 | €3,155 | €7,446 | +€4,290 | +136.0% |
| Non-recurring operating charges | 66A | - | €380 | +€380 | |
| Gross operating margin | 9900 | €51,447 | €63,726 | +€12,279 | +23.9% |
| Operating profit (loss) | 9901 | €8,792 | -€3,027 | -€11,818 | |
| Financial income | 75/76B | €568 | €1,019 | +€451 | +79.3% |
| Recurring financial income | 75 | €568 | €1,019 | +€451 | +79.3% |
| Financial charges | 65/66B | €413 | €1,969 | +€1,556 | +376.3% |
| Recurring financial charges | 65 | €413 | €1,969 | +€1,556 | +376.3% |
| Profit (loss) for the period before taxes | 9903 | €8,947 | -€3,977 | -€12,924 | |
| Income taxes | 67/77 | €3,989 | €1,117 | -€2,872 | -72.0% |
| Profit (loss) for the period | 9904 | €4,958 | -€5,094 | -€10,052 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,958 | -€5,094 | -€10,052 |
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.