KDL: 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.
KDL
Largest movements
- Cash -€42,830
down €42,830 (-41.8%), from €102,583 to €59,753
mainly Contributions, distributions and other (-€118,212) and Investment in fixed assets (net) (-€53,934)
- Tangible fixed assets +€42,735
up €42,735 (+500.4%), from €8,541 to €51,276
of which Furniture and vehicles: +€42,507
- Deferred charges and accrued income +€2,083
up €2,083 (+176.2%), from €1,182 to €3,265
- Reserves -€22,230
down €22,230 (-18.8%), from €118,212 to €95,982
- Current portion of long-term debt +€14,210
new in 2025: €14,210
- Trade debts +€8,438
up €8,438 (+428.3%), from €1,970 to €10,408
- Depreciation +€9,075
up €9,075 (+427.2%), from €2,124 to €11,199
- Gross operating margin -€7,801
down €7,801 (-4.9%), from €157,884 to €150,083
- Taxes +€4,240
up €4,240 (+11.6%), from €36,649 to €40,889
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 | €148,110 | €149,551 | +€1,440 | +1.0% |
| Fixed assets | 21/28 | €8,541 | €51,276 | +€42,735 | +500.4% |
| Tangible fixed assets | 22/27 | €8,541 | €51,276 | +€42,735 | +500.4% |
| Plant, machinery and equipment | 23 | €708 | €1,378 | +€670 | +94.6% |
| Furniture and vehicles | 24 | €996 | €43,502 | +€42,507 | +4268.6% |
| Other tangible fixed assets | 26 | €6,837 | €6,395 | -€442 | -6.5% |
| Current assets | 29/58 | €139,569 | €98,275 | -€41,295 | -29.6% |
| Amounts receivable after more than one year | 29 | €10,172 | €10,172 | = | 0.0% |
| Other amounts receivable | 291 | €10,172 | €10,172 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €25,632 | €25,084 | -€548 | -2.1% |
| Trade receivables | 40 | €25,189 | €21,638 | -€3,550 | -14.1% |
| Other amounts receivable | 41 | €444 | €3,446 | +€3,002 | +676.8% |
| Cash at bank and in hand | 54/58 | €102,583 | €59,753 | -€42,830 | -41.8% |
| Deferred charges and accrued income | 490/1 | €1,182 | €3,265 | +€2,083 | +176.2% |
| Total equity and liabilities | 10/49 | €148,110 | €149,551 | +€1,440 | +1.0% |
| Equity | 10/15 | €120,812 | €98,582 | -€22,230 | -18.4% |
| Contributions | 10/11 | €2,600 | €2,600 | = | 0.0% |
| Reserves | 13 | €118,212 | €95,982 | -€22,230 | -18.8% |
| Distributable reserves | 133 | €118,212 | €95,982 | -€22,230 | -18.8% |
| Amounts payable | 17/49 | €27,298 | €50,968 | +€23,670 | +86.7% |
| Amounts payable within one year | 42/48 | €27,298 | €50,968 | +€23,670 | +86.7% |
| Current portion of amounts payable after more than one year | 42 | - | €14,210 | +€14,210 | |
| Trade debts | 44 | €1,970 | €10,408 | +€8,438 | +428.3% |
| Suppliers | 440/4 | €1,970 | €10,408 | +€8,438 | +428.3% |
| Taxes, remuneration and social security | 45 | €25,224 | €26,350 | +€1,126 | +4.5% |
| Taxes | 450/3 | €25,224 | €26,350 | +€1,126 | +4.5% |
| Other amounts payable | 47/48 | €104 | - | -€104 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,124 | €11,199 | +€9,075 | +427.2% |
| Other operating charges | 640/8 | €901 | €1,003 | +€101 | +11.2% |
| Gross operating margin | 9900 | €157,884 | €150,083 | -€7,801 | -4.9% |
| Operating profit (loss) | 9901 | €154,858 | €137,881 | -€16,977 | -11.0% |
| Financial income | 75/76B | €105 | €216 | +€111 | +105.1% |
| Recurring financial income | 75 | €105 | €216 | +€111 | +105.1% |
| Financial charges | 65/66B | €102 | €1,225 | +€1,123 | +1101.5% |
| Recurring financial charges | 65 | €102 | €1,225 | +€1,123 | +1101.5% |
| Profit (loss) for the period before taxes | 9903 | €154,861 | €136,871 | -€17,990 | -11.6% |
| Income taxes | 67/77 | €36,649 | €40,889 | +€4,240 | +11.6% |
| Profit (loss) for the period | 9904 | €118,212 | €95,982 | -€22,230 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €118,212 | €95,982 | -€22,230 | -18.8% |
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 3 October 2026 via checked.be.