KDM 79: 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.
KDM 79
Largest movements
- Current investments -€124,614
down €124,614 (-99.7%), from €125,000 to €386
- Cash +€83,358
up €83,358 (+173%), from €48,082 to €131,440
mainly Net result for the year (+€342,198) and Current investments (+€124,614)
- Intangible fixed assets -€22,674
no longer reported in 2025 (was €22,674)
- Tangible fixed assets -€19,279
down €19,279 (-2.4%), from €797,292 to €778,013
of which Land and buildings: -€20,730
- Deferred charges and accrued income -€12,777
no longer reported in 2025 (was €12,777)
- Trade debts -€507,615
down €507,615 (-99.7%), from €508,962 to €1,347
- Reserves +€342,198
up €342,198 (+292%), from €117,182 to €459,380
of which Tax-exempt reserves: +€305,081
- Provisions +€101,694
new in 2025: €101,694
- Debts after one year -€27,786
down €27,786 (-9.0%), from €309,005 to €281,220
- Gross operating margin +€298,121
up €298,121 (+124%), from €239,470 to €537,591
- Other operating charges -€49,890
down €49,890 (-90.2%), from €55,308 to €5,418
- Staff costs -€44,130
down €44,130 (-84.0%), from €52,511 to €8,381
- Financial charges +€7,984
up €7,984 (+508%), from €1,572 to €9,556
- Depreciation -€5,551
down €5,551 (-9.0%), from €61,844 to €56,293
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 | €1,008,010 | €911,898 | -€96,112 | -9.5% |
| Fixed assets | 21/28 | €819,966 | €778,013 | -€41,953 | -5.1% |
| Intangible fixed assets | 21 | €22,674 | - | -€22,674 | |
| Tangible fixed assets | 22/27 | €797,292 | €778,013 | -€19,279 | -2.4% |
| Land and buildings | 22 | €704,217 | €683,486 | -€20,730 | -2.9% |
| Plant, machinery and equipment | 23 | €89,257 | €89,999 | +€742 | +0.8% |
| Furniture and vehicles | 24 | €3,818 | €4,528 | +€710 | +18.6% |
| Current assets | 29/58 | €188,044 | €133,885 | -€54,159 | -28.8% |
| Amounts receivable within one year | 40/41 | €2,185 | €2,059 | -€125 | -5.7% |
| Trade receivables | 40 | €125 | - | -€125 | |
| Other amounts receivable | 41 | €2,059 | €2,059 | = | 0.0% |
| Current investments | 50/53 | €125,000 | €386 | -€124,614 | -99.7% |
| Cash at bank and in hand | 54/58 | €48,082 | €131,440 | +€83,358 | +173% |
| Deferred charges and accrued income | 490/1 | €12,777 | - | -€12,777 | |
| Total equity and liabilities | 10/49 | €1,008,010 | €911,898 | -€96,112 | -9.5% |
| Equity | 10/15 | €135,782 | €477,980 | +€342,198 | +252% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €117,182 | €459,380 | +€342,198 | +292% |
| Tax-exempt reserves | 132 | €34,377 | €339,458 | +€305,081 | +887% |
| Distributable reserves | 133 | €82,805 | €119,922 | +€37,117 | +44.8% |
| Provisions and deferred taxes | 16 | - | €101,694 | +€101,694 | |
| Deferred taxes | 168 | - | €101,694 | +€101,694 | |
| Amounts payable | 17/49 | €872,228 | €332,225 | -€540,003 | -61.9% |
| Amounts payable after more than one year | 17 | €309,005 | €281,220 | -€27,786 | -9.0% |
| Financial debts | 170/4 | €309,005 | €281,220 | -€27,786 | -9.0% |
| Amounts payable within one year | 42/48 | €563,111 | €51,005 | -€512,106 | -90.9% |
| Current portion of amounts payable after more than one year | 42 | €28,323 | €27,786 | -€538 | -1.9% |
| Trade debts | 44 | €508,962 | €1,347 | -€507,615 | -99.7% |
| Suppliers | 440/4 | €508,962 | €1,347 | -€507,615 | -99.7% |
| Taxes, remuneration and social security | 45 | €19,848 | €17,285 | -€2,563 | -12.9% |
| Taxes | 450/3 | €9,756 | €17,285 | +€7,529 | +77.2% |
| Remuneration and social security | 454/9 | €10,093 | - | -€10,093 | |
| Other amounts payable | 47/48 | €5,978 | €4,587 | -€1,391 | -23.3% |
| Accrued charges and deferred income | 492/3 | €112 | - | -€112 | |
| Non-recurring operating income | 76A | - | €420,013 | +€420,013 | |
| Remuneration, social security and pensions | 62 | €52,511 | €8,381 | -€44,130 | -84.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,844 | €56,293 | -€5,551 | -9.0% |
| Other operating charges | 640/8 | €55,308 | €5,418 | -€49,890 | -90.2% |
| Gross operating margin | 9900 | €239,470 | €537,591 | +€298,121 | +124% |
| Operating profit (loss) | 9901 | €69,808 | €467,500 | +€397,692 | +570% |
| Financial income | 75/76B | €1,480 | €4,430 | +€2,951 | +199% |
| Recurring financial income | 75 | €1,480 | €4,430 | +€2,951 | +199% |
| Financial charges | 65/66B | €1,572 | €9,556 | +€7,984 | +508% |
| Recurring financial charges | 65 | €1,572 | €9,556 | +€7,984 | +508% |
| Profit (loss) for the period before taxes | 9903 | €69,715 | €462,374 | +€392,658 | +563% |
| Transfer from deferred taxes | 780 | - | €3,310 | +€3,310 | |
| Transfer to deferred taxes | 680 | - | €105,003 | +€105,003 | |
| Income taxes | 67/77 | €18,385 | €18,482 | +€98 | +0.5% |
| Profit (loss) for the period | 9904 | €51,331 | €342,198 | +€290,867 | +567% |
| Transfer from tax-exempt reserves | 789 | - | €9,929 | +€9,929 | |
| Transfer to tax-exempt reserves | 689 | - | €315,010 | +€315,010 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,331 | €37,117 | -€14,214 | -27.7% |
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 13 October 2026 via checked.be.