KDG: 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.
KDG
Largest movements
- Tangible fixed assets -€11,232
down €11,232 (-20.4%), from €54,957 to €43,724
of which Furniture and vehicles: -€9,306
- Receivables within one year +€10,447
up €10,447 (+117.3%), from €8,905 to €19,352
of which Other amounts receivable: +€13,191
- Deferred charges and accrued income -€1,011
down €1,011 (-56.7%), from €1,783 to €772
- Debts after one year -€13,776
down €13,776 (-62.1%), from €22,192 to €8,417
- Profit (loss) carried forward +€10,038
up €10,038 (+158.1%), from €6,350 to €16,388
- Trade debts +€5,637
up €5,637 (+438.4%), from €1,286 to €6,923
- Other debts -€4,566
down €4,566 (-100.0%), from €4,566 to €0
- Tax, wage and social debts +€2,181
up €2,181 (+25.4%), from €8,590 to €10,771
of which Taxes: +€2,181
- Gross operating margin +€5,988
up €5,988 (+20.8%), from €28,814 to €34,802
- Taxes +€1,289
up €1,289 (+48.6%), from €2,650 to €3,939
- Depreciation +€1,020
up €1,020 (+6.1%), from €16,734 to €17,754
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €65,644 | €63,848 | -€1,796 | -2.7% |
| Fixed assets | 21/28 | €54,957 | €43,724 | -€11,232 | -20.4% |
| Tangible fixed assets | 22/27 | €54,957 | €43,724 | -€11,232 | -20.4% |
| Furniture and vehicles | 24 | €40,323 | €31,016 | -€9,306 | -23.1% |
| Other tangible fixed assets | 26 | €14,634 | €12,708 | -€1,926 | -13.2% |
| Current assets | 29/58 | €10,688 | €20,124 | +€9,436 | +88.3% |
| Amounts receivable within one year | 40/41 | €8,905 | €19,352 | +€10,447 | +117.3% |
| Trade receivables | 40 | €8,905 | €6,161 | -€2,744 | -30.8% |
| Other amounts receivable | 41 | - | €13,191 | +€13,191 | |
| Deferred charges and accrued income | 490/1 | €1,783 | €772 | -€1,011 | -56.7% |
| Total equity and liabilities | 10/49 | €65,644 | €63,848 | -€1,796 | -2.7% |
| Equity | 10/15 | €8,850 | €18,888 | +€10,038 | +113.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,350 | €16,388 | +€10,038 | +158.1% |
| Amounts payable | 17/49 | €56,795 | €44,961 | -€11,834 | -20.8% |
| Amounts payable after more than one year | 17 | €22,192 | €8,417 | -€13,776 | -62.1% |
| Financial debts | 170/4 | €22,192 | €8,417 | -€13,776 | -62.1% |
| Amounts payable within one year | 42/48 | €34,602 | €36,544 | +€1,942 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €13,606 | €13,775 | +€169 | +1.2% |
| Financial debts | 43 | €6,555 | €5,076 | -€1,479 | -22.6% |
| Credit institutions | 430/8 | €4,485 | €4,502 | +€17 | +0.4% |
| Other loans | 439 | €2,069 | €574 | -€1,496 | -72.3% |
| Trade debts | 44 | €1,286 | €6,923 | +€5,637 | +438.4% |
| Suppliers | 440/4 | €1,286 | €6,923 | +€5,637 | +438.4% |
| Taxes, remuneration and social security | 45 | €8,590 | €10,771 | +€2,181 | +25.4% |
| Taxes | 450/3 | €8,590 | €10,771 | +€2,181 | +25.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,566 | €0 | -€4,566 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,734 | €17,754 | +€1,020 | +6.1% |
| Other operating charges | 640/8 | €1,363 | €1,171 | -€192 | -14.1% |
| Gross operating margin | 9900 | €28,814 | €34,802 | +€5,988 | +20.8% |
| Operating profit (loss) | 9901 | €10,717 | €15,877 | +€5,160 | +48.1% |
| Financial income | 75/76B | - | €191 | +€191 | |
| Recurring financial income | 75 | - | €191 | +€191 | |
| Financial charges | 65/66B | €2,416 | €2,090 | -€326 | -13.5% |
| Recurring financial charges | 65 | €2,416 | €2,090 | -€326 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €8,301 | €13,977 | +€5,676 | +68.4% |
| Income taxes | 67/77 | €2,650 | €3,939 | +€1,289 | +48.6% |
| Profit (loss) for the period | 9904 | €5,651 | €10,038 | +€4,387 | +77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,651 | €10,038 | +€4,387 | +77.6% |
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 12 October 2026 via checked.be.