KDM-Pack: 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.
KDM-Pack
Largest movements
- Financial fixed assets -€547,261
down €547,261 (-47.3%), from €1.2m to €608,750
- Tangible fixed assets -€383,661
down €383,661 (-26.6%), from €1.4m to €1.1m
of which Land and buildings: -€380,651
- Formation expenses +€32,191
new in 2023: €32,191
- Profit (loss) carried forward -€540,250
new in 2023: -€540,250
- Debts after one year -€270,925
down €270,925 (-19.3%), from €1.4m to €1.1m
- Short-term financial debts -€135,500
down €135,500 (-32.7%), from €415,000 to €279,500
- Tax, wage and social debts -€59,119
down €59,119 (-84.0%), from €70,391 to €11,272
of which Taxes: -€55,619
- Advances received +€31,163
up €31,163 (+25.7%), from €121,351 to €152,514
- Financial charges +€577,175
up €577,175 (+1563.8%), from €36,910 to €614,085
of which Non-recurring financial charges: +€549,261
- Depreciation -€231,731
down €231,731 (-95.1%), from €243,681 to €11,950
- Gross operating margin -€147,514
down €147,514 (-59.4%), from €248,427 to €100,913
- Other operating charges +€8,809
up €8,809 (+140.3%), from €6,279 to €15,088
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,759,242 | €1,820,935 | -€938,308 | -34.0% |
| Formation expenses | 20 | - | €32,191 | +€32,191 | |
| Fixed assets | 21/28 | €2,599,120 | €1,668,197 | -€930,923 | -35.8% |
| Tangible fixed assets | 22/27 | €1,443,109 | €1,059,447 | -€383,661 | -26.6% |
| Land and buildings | 22 | €1,415,867 | €1,035,216 | -€380,651 | -26.9% |
| Furniture and vehicles | 24 | €26,755 | €24,164 | -€2,591 | -9.7% |
| Other tangible fixed assets | 26 | €487 | €67 | -€420 | -86.2% |
| Financial fixed assets | 28 | €1,156,011 | €608,750 | -€547,261 | -47.3% |
| Current assets | 29/58 | €160,122 | €120,546 | -€39,577 | -24.7% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €103,536 | €85,159 | -€18,377 | -17.7% |
| Trade receivables | 40 | €85,129 | €35,603 | -€49,526 | -58.2% |
| Other amounts receivable | 41 | €18,407 | €49,556 | +€31,149 | +169.2% |
| Cash at bank and in hand | 54/58 | €15,234 | €674 | -€14,560 | -95.6% |
| Deferred charges and accrued income | 490/1 | €16,352 | €9,712 | -€6,639 | -40.6% |
| Total equity and liabilities | 10/49 | €2,759,242 | €1,820,935 | -€938,308 | -34.0% |
| Equity | 10/15 | €558,359 | €18,109 | -€540,250 | -96.8% |
| Contributions | 10/11 | €370,000 | €370,000 | = | 0.0% |
| Reserves | 13 | €188,359 | €188,359 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,268 | €4,268 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,268 | €4,268 | = | 0.0% |
| Distributable reserves | 133 | €184,090 | €184,090 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€540,250 | -€540,250 | |
| Amounts payable | 17/49 | €2,200,884 | €1,802,826 | -€398,058 | -18.1% |
| Amounts payable after more than one year | 17 | €1,403,090 | €1,132,165 | -€270,925 | -19.3% |
| Financial debts | 170/4 | €1,403,090 | €1,132,165 | -€270,925 | -19.3% |
| Amounts payable within one year | 42/48 | €795,444 | €669,661 | -€125,783 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €164,836 | €165,541 | +€705 | +0.4% |
| Financial debts | 43 | €415,000 | €279,500 | -€135,500 | -32.7% |
| Credit institutions | 430/8 | €415,000 | €279,500 | -€135,500 | -32.7% |
| Trade debts | 44 | €8,629 | €37,272 | +€28,642 | +331.9% |
| Suppliers | 440/4 | €8,629 | €37,272 | +€28,642 | +331.9% |
| Advances received on contracts in progress | 46 | €121,351 | €152,514 | +€31,163 | +25.7% |
| Taxes, remuneration and social security | 45 | €70,391 | €11,272 | -€59,119 | -84.0% |
| Taxes | 450/3 | €66,891 | €11,272 | -€55,619 | -83.1% |
| Remuneration and social security | 454/9 | €3,500 | - | -€3,500 | |
| Other amounts payable | 47/48 | €15,237 | €23,562 | +€8,325 | +54.6% |
| Accrued charges and deferred income | 492/3 | €2,350 | €1,000 | -€1,350 | -57.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €243,681 | €11,950 | -€231,731 | -95.1% |
| Other operating charges | 640/8 | €6,279 | €15,088 | +€8,809 | +140.3% |
| Gross operating margin | 9900 | €248,427 | €100,913 | -€147,514 | -59.4% |
| Operating profit (loss) | 9901 | -€1,533 | €73,875 | +€75,408 | |
| Financial income | 75/76B | €3 | €30 | +€27 | +987.2% |
| Recurring financial income | 75 | €3 | €30 | +€27 | +987.2% |
| Financial charges | 65/66B | €36,910 | €614,085 | +€577,175 | +1563.8% |
| Recurring financial charges | 65 | €36,910 | €64,823 | +€27,914 | +75.6% |
| Non-recurring financial charges | 66B | - | €549,261 | +€549,261 | |
| Profit (loss) for the period before taxes | 9903 | -€38,440 | -€540,180 | -€501,740 | -1305.3% |
| Income taxes | 67/77 | €202 | €70 | -€132 | -65.2% |
| Profit (loss) for the period | 9904 | -€38,642 | -€540,250 | -€501,608 | -1298.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,642 | -€540,250 | -€501,608 | -1298.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.