KDJ: 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.
KDJ
Largest movements
- Receivables within one year -€31,276
no longer reported in 2025 (was €31,276)
- Cash -€5,593
down €5,593 (-4.7%), from €120,079 to €114,487
mainly Other debts (-€20,904) and Tax, wage and social debts (-€14,894)
- Tangible fixed assets -€4,372
no longer reported in 2025 (was €4,372)
- Other debts -€20,904
down €20,904 (-82.3%), from €25,408 to €4,505
- Tax, wage and social debts -€14,894
down €14,894 (-69.1%), from €21,561 to €6,667
- Trade debts -€7,783
down €7,783 (-84.4%), from €9,221 to €1,438
- Gross operating margin -€85,091
down €85,091 (-74.4%), from €114,439 to €29,347
- Staff costs -€50,555
down €50,555 (-73.8%), from €68,534 to €17,979
- Depreciation -€7,261
down €7,261 (-64.2%), from €11,307 to €4,046
- Financial charges +€2,188
up €2,188 (+944.4%), from €232 to €2,420
- Other operating charges -€1,979
down €1,979 (-31.9%), from €6,198 to €4,219
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 | €203,862 | €161,157 | -€42,705 | -20.9% |
| Fixed assets | 21/28 | €4,777 | €405 | -€4,372 | -91.5% |
| Tangible fixed assets | 22/27 | €4,372 | - | -€4,372 | |
| Furniture and vehicles | 24 | €4,372 | - | -€4,372 | |
| Financial fixed assets | 28 | €405 | €405 | = | 0.0% |
| Current assets | 29/58 | €199,085 | €160,752 | -€38,333 | -19.3% |
| Stocks and contracts in progress | 3 | €44,301 | €44,301 | = | 0.0% |
| Stocks | 30/36 | €44,301 | €44,301 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €31,276 | - | -€31,276 | |
| Trade receivables | 40 | €31,276 | - | -€31,276 | |
| Cash at bank and in hand | 54/58 | €120,079 | €114,487 | -€5,593 | -4.7% |
| Deferred charges and accrued income | 490/1 | €3,428 | €1,964 | -€1,464 | -42.7% |
| Total equity and liabilities | 10/49 | €203,862 | €161,157 | -€42,705 | -20.9% |
| Equity | 10/15 | €147,672 | €148,548 | +€876 | +0.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,672 | €46,548 | +€876 | +1.9% |
| Amounts payable | 17/49 | €56,190 | €12,609 | -€43,581 | -77.6% |
| Amounts payable within one year | 42/48 | €56,190 | €12,609 | -€43,581 | -77.6% |
| Trade debts | 44 | €9,221 | €1,438 | -€7,783 | -84.4% |
| Suppliers | 440/4 | €9,221 | €1,438 | -€7,783 | -84.4% |
| Taxes, remuneration and social security | 45 | €21,561 | €6,667 | -€14,894 | -69.1% |
| Remuneration and social security | 454/9 | €21,561 | €6,667 | -€14,894 | -69.1% |
| Other amounts payable | 47/48 | €25,408 | €4,505 | -€20,904 | -82.3% |
| Non-recurring operating income | 76A | - | €34,674 | +€34,674 | |
| Remuneration, social security and pensions | 62 | €68,534 | €17,979 | -€50,555 | -73.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,307 | €4,046 | -€7,261 | -64.2% |
| Other operating charges | 640/8 | €6,198 | €4,219 | -€1,979 | -31.9% |
| Gross operating margin | 9900 | €114,439 | €29,347 | -€85,091 | -74.4% |
| Operating profit (loss) | 9901 | €28,400 | €3,104 | -€25,296 | -89.1% |
| Financial income | 75/76B | €249 | €192 | -€57 | -23.0% |
| Recurring financial income | 75 | €249 | €192 | -€57 | -23.0% |
| Financial charges | 65/66B | €232 | €2,420 | +€2,188 | +944.4% |
| Recurring financial charges | 65 | €232 | €2,420 | +€2,188 | +944.4% |
| Profit (loss) for the period before taxes | 9903 | €28,417 | €876 | -€27,542 | -96.9% |
| Profit (loss) for the period | 9904 | €28,417 | €876 | -€27,542 | -96.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,417 | €876 | -€27,542 | -96.9% |
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 6 October 2026 via checked.be.