KDORTHO: 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.
KDORTHO
Largest movements
- Cash +€341,568
up €341,568 (+1870.6%), from €18,259 to €359,827
mainly Net result for the year (+€279,595) and Tax, wage and social debts (+€87,236)
- Deferred charges and accrued income +€20,335
up €20,335 (+2475.8%), from €821 to €21,157
- Stocks and contracts -€17,913
no longer reported in 2025 (was €17,913)
- Receivables within one year +€9,546
up €9,546 (+3816.8%), from €250 to €9,796
- Profit (loss) carried forward +€279,595
up €279,595 (+7243.2%), from €3,860 to €283,455
- Tax, wage and social debts +€87,236
up €87,236 (+7518.7%), from €1,160 to €88,396
- Debts after one year -€9,249
down €9,249 (-66.0%), from €14,004 to €4,755
- Trade debts -€6,270
down €6,270 (-38.4%), from €16,330 to €10,059
- Current portion of long-term debt +€5,220
new in 2025: €5,220
- Gross operating margin +€364,506
up €364,506 (+6484.6%), from €5,621 to €370,127
- Taxes +€87,236
up €87,236 (+7518.7%), from €1,160 to €88,396
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 | €38,354 | €394,885 | +€356,531 | +929.6% |
| Formation expenses | 20 | €1,109 | €876 | -€234 | -21.0% |
| Fixed assets | 21/28 | - | €3,229 | +€3,229 | |
| Tangible fixed assets | 22/27 | - | €3,229 | +€3,229 | |
| Plant, machinery and equipment | 23 | - | €3,229 | +€3,229 | |
| Current assets | 29/58 | €37,244 | €390,780 | +€353,536 | +949.2% |
| Stocks and contracts in progress | 3 | €17,913 | - | -€17,913 | |
| Stocks | 30/36 | €17,913 | - | -€17,913 | |
| Amounts receivable within one year | 40/41 | €250 | €9,796 | +€9,546 | +3816.8% |
| Other amounts receivable | 41 | €250 | €9,796 | +€9,546 | +3816.8% |
| Cash at bank and in hand | 54/58 | €18,259 | €359,827 | +€341,568 | +1870.6% |
| Deferred charges and accrued income | 490/1 | €821 | €21,157 | +€20,335 | +2475.8% |
| Total equity and liabilities | 10/49 | €38,354 | €394,885 | +€356,531 | +929.6% |
| Equity | 10/15 | €6,860 | €286,455 | +€279,595 | +4075.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,860 | €283,455 | +€279,595 | +7243.2% |
| Amounts payable | 17/49 | €31,494 | €108,430 | +€76,937 | +244.3% |
| Amounts payable after more than one year | 17 | €14,004 | €4,755 | -€9,249 | -66.0% |
| Financial debts | 170/4 | €14,004 | €4,755 | -€9,249 | -66.0% |
| Amounts payable within one year | 42/48 | €17,490 | €103,676 | +€86,186 | +492.8% |
| Current portion of amounts payable after more than one year | 42 | - | €5,220 | +€5,220 | |
| Trade debts | 44 | €16,330 | €10,059 | -€6,270 | -38.4% |
| Suppliers | 440/4 | €16,330 | €10,059 | -€6,270 | -38.4% |
| Taxes, remuneration and social security | 45 | €1,160 | €88,396 | +€87,236 | +7518.7% |
| Taxes | 450/3 | €1,160 | €88,396 | +€87,236 | +7518.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58 | €792 | +€734 | +1259.9% |
| Other operating charges | 640/8 | €447 | €305 | -€142 | -31.8% |
| Gross operating margin | 9900 | €5,621 | €370,127 | +€364,506 | +6484.6% |
| Operating profit (loss) | 9901 | €5,115 | €369,030 | +€363,915 | +7114.0% |
| Financial income | 75/76B | €0 | €0 | +€0 | +300.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +300.0% |
| Financial charges | 65/66B | €95 | €1,039 | +€944 | +992.5% |
| Recurring financial charges | 65 | €95 | €1,039 | +€944 | +992.5% |
| Profit (loss) for the period before taxes | 9903 | €5,020 | €367,991 | +€362,970 | +7230.0% |
| Income taxes | 67/77 | €1,160 | €88,396 | +€87,236 | +7518.7% |
| Profit (loss) for the period | 9904 | €3,860 | €279,595 | +€275,735 | +7143.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,860 | €279,595 | +€275,735 | +7143.2% |
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.