KDM CONSTRUCT: 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 CONSTRUCT
Largest movements
- Cash +€134,299
up €134,299 (+473%), from €28,368 to €162,667
mainly Depreciation (+€62,658) and Stocks and contracts (+€58,000)
- Stocks and contracts -€58,000
down €58,000 (-50.2%), from €115,460 to €57,460
of which Contracts in progress: -€30,000
- Tangible fixed assets -€46,551
down €46,551 (-7.2%), from €650,641 to €604,090
- Debts after one year -€53,106
down €53,106 (-12.6%), from €420,559 to €367,453
- Reserves +€41,164
up €41,164 (+14.2%), from €289,423 to €330,587
- Tax, wage and social debts +€26,564
up €26,564 (+751%), from €3,539 to €30,103
- Trade debts +€24,878
up €24,878 (+102%), from €24,505 to €49,383
- Gross operating margin +€24,363
up €24,363 (+21.0%), from €116,105 to €140,468
- Taxes +€13,596
up €13,596 (+145%), from €9,404 to €23,000
- Depreciation +€8,128
up €8,128 (+14.9%), from €54,530 to €62,658
- Financial charges -€2,078
down €2,078 (-16.9%), from €12,259 to €10,181
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 | €974,061 | €1,000,470 | +€26,409 | +2.7% |
| Fixed assets | 21/28 | €650,641 | €604,090 | -€46,551 | -7.2% |
| Tangible fixed assets | 22/27 | €650,641 | €604,090 | -€46,551 | -7.2% |
| Land and buildings | 22 | €443,612 | €424,564 | -€19,048 | -4.3% |
| Plant, machinery and equipment | 23 | €180,651 | €164,383 | -€16,268 | -9.0% |
| Furniture and vehicles | 24 | €14,035 | €4,155 | -€9,880 | -70.4% |
| Other tangible fixed assets | 26 | €12,343 | €10,988 | -€1,355 | -11.0% |
| Current assets | 29/58 | €323,420 | €396,380 | +€72,960 | +22.6% |
| Amounts receivable after more than one year | 29 | €233 | €233 | = | 0.0% |
| Other amounts receivable | 291 | €233 | €233 | = | 0.0% |
| Stocks and contracts in progress | 3 | €115,460 | €57,460 | -€58,000 | -50.2% |
| Stocks | 30/36 | €68,735 | €40,735 | -€28,000 | -40.7% |
| Contracts in progress | 37 | €46,725 | €16,725 | -€30,000 | -64.2% |
| Amounts receivable within one year | 40/41 | €179,359 | €176,019 | -€3,339 | -1.9% |
| Trade receivables | 40 | €53,787 | €170,703 | +€116,916 | +217% |
| Other amounts receivable | 41 | €125,572 | €5,316 | -€120,255 | -95.8% |
| Cash at bank and in hand | 54/58 | €28,368 | €162,667 | +€134,299 | +473% |
| Total equity and liabilities | 10/49 | €974,061 | €1,000,470 | +€26,409 | +2.7% |
| Equity | 10/15 | €308,023 | €349,187 | +€41,164 | +13.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €289,423 | €330,587 | +€41,164 | +14.2% |
| Distributable reserves | 133 | €289,423 | €330,587 | +€41,164 | +14.2% |
| Amounts payable | 17/49 | €666,038 | €651,283 | -€14,756 | -2.2% |
| Amounts payable after more than one year | 17 | €420,559 | €367,453 | -€53,106 | -12.6% |
| Financial debts | 170/4 | €420,559 | €367,453 | -€53,106 | -12.6% |
| Amounts payable within one year | 42/48 | €245,479 | €283,830 | +€38,351 | +15.6% |
| Current portion of amounts payable after more than one year | 42 | €59,045 | €50,649 | -€8,396 | -14.2% |
| Trade debts | 44 | €24,505 | €49,383 | +€24,878 | +102% |
| Suppliers | 440/4 | €24,505 | €49,383 | +€24,878 | +102% |
| Taxes, remuneration and social security | 45 | €3,539 | €30,103 | +€26,564 | +751% |
| Taxes | 450/3 | €3,539 | €30,103 | +€26,564 | +751% |
| Other amounts payable | 47/48 | €158,391 | €153,696 | -€4,695 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,530 | €62,658 | +€8,128 | +14.9% |
| Other operating charges | 640/8 | €3,487 | €3,485 | -€2 | -0.1% |
| Gross operating margin | 9900 | €116,105 | €140,468 | +€24,363 | +21.0% |
| Operating profit (loss) | 9901 | €58,088 | €74,325 | +€16,237 | +28.0% |
| Financial income | 75/76B | €41 | €20 | -€21 | -51.5% |
| Recurring financial income | 75 | €41 | €20 | -€21 | -51.5% |
| Financial charges | 65/66B | €12,259 | €10,181 | -€2,078 | -16.9% |
| Recurring financial charges | 65 | €12,259 | €10,181 | -€2,078 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €45,870 | €64,164 | +€18,294 | +39.9% |
| Income taxes | 67/77 | €9,404 | €23,000 | +€13,596 | +145% |
| Profit (loss) for the period | 9904 | €36,466 | €41,164 | +€4,698 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,466 | €41,164 | +€4,698 | +12.9% |
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 14 October 2026 via checked.be.