KDR Construct: 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.
KDR Construct
Largest movements
- Cash +€36,803
up €36,803 (+606.2%), from €6,071 to €42,875
mainly Depreciation (+€26,087) and Tax, wage and social debts (+€25,442)
- Tangible fixed assets +€27,891
up €27,891 (+29.5%), from €94,628 to €122,519
of which Leasing and similar rights: +€31,150
- Deferred charges and accrued income -€10,344
down €10,344 (-51.1%), from €20,262 to €9,918
- Receivables within one year -€10,042
down €10,042 (-47.3%), from €21,236 to €11,194
of which Trade receivables: -€6,936
- Intangible fixed assets -€6,250
down €6,250 (-57.1%), from €10,938 to €4,688
- Tax, wage and social debts +€25,442
up €25,442 (+220.3%), from €11,547 to €36,990
of which Taxes: +€22,442
- Debts after one year +€22,430
up €22,430 (+44.1%), from €50,916 to €73,346
- Trade debts -€11,040
down €11,040 (-33.3%), from €33,125 to €22,085
- Profit (loss) carried forward -€4,667
down €4,667 (-17.2%), from €27,116 to €22,449
- Current portion of long-term debt +€2,794
up €2,794 (+25.7%), from €10,882 to €13,677
- Staff costs +€8,145
up €8,145 (+16.1%), from €50,748 to €58,893
- Other operating charges +€4,176
up €4,176 (+145.0%), from €2,879 to €7,056
- Depreciation +€4,020
up €4,020 (+18.2%), from €22,067 to €26,087
- Taxes -€3,446
down €3,446 (-93.9%), from €3,671 to €225
- Financial charges +€1,957
up €1,957 (+45.3%), from €4,319 to €6,276
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 | €159,352 | €196,690 | +€37,338 | +23.4% |
| Fixed assets | 21/28 | €105,928 | €127,570 | +€21,641 | +20.4% |
| Intangible fixed assets | 21 | €10,938 | €4,688 | -€6,250 | -57.1% |
| Tangible fixed assets | 22/27 | €94,628 | €122,519 | +€27,891 | +29.5% |
| Land and buildings | 22 | €77,272 | €81,395 | +€4,123 | +5.3% |
| Plant, machinery and equipment | 23 | €3,309 | €2,237 | -€1,072 | -32.4% |
| Furniture and vehicles | 24 | €6,378 | €567 | -€5,811 | -91.1% |
| Leasing and similar rights | 25 | €4,680 | €35,830 | +€31,150 | +665.6% |
| Assets under construction and advance payments | 27 | €2,989 | €2,491 | -€498 | -16.7% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €53,424 | €69,120 | +€15,696 | +29.4% |
| Stocks and contracts in progress | 3 | €5,855 | €5,134 | -€721 | -12.3% |
| Stocks | 30/36 | €5,855 | €5,134 | -€721 | -12.3% |
| Amounts receivable within one year | 40/41 | €21,236 | €11,194 | -€10,042 | -47.3% |
| Trade receivables | 40 | €16,964 | €10,028 | -€6,936 | -40.9% |
| Other amounts receivable | 41 | €4,272 | €1,166 | -€3,106 | -72.7% |
| Cash at bank and in hand | 54/58 | €6,071 | €42,875 | +€36,803 | +606.2% |
| Deferred charges and accrued income | 490/1 | €20,262 | €9,918 | -€10,344 | -51.1% |
| Total equity and liabilities | 10/49 | €159,352 | €196,690 | +€37,338 | +23.4% |
| Equity | 10/15 | €33,316 | €28,649 | -€4,667 | -14.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,116 | €22,449 | -€4,667 | -17.2% |
| Amounts payable | 17/49 | €126,036 | €168,040 | +€42,005 | +33.3% |
| Amounts payable after more than one year | 17 | €50,916 | €73,346 | +€22,430 | +44.1% |
| Financial debts | 170/4 | €50,916 | €73,346 | +€22,430 | +44.1% |
| Amounts payable within one year | 42/48 | €74,974 | €93,434 | +€18,459 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €10,882 | €13,677 | +€2,794 | +25.7% |
| Trade debts | 44 | €33,125 | €22,085 | -€11,040 | -33.3% |
| Suppliers | 440/4 | €33,125 | €22,085 | -€11,040 | -33.3% |
| Taxes, remuneration and social security | 45 | €11,547 | €36,990 | +€25,442 | +220.3% |
| Taxes | 450/3 | €6,937 | €29,379 | +€22,442 | +323.5% |
| Remuneration and social security | 454/9 | €4,610 | €7,611 | +€3,000 | +65.1% |
| Other amounts payable | 47/48 | €19,420 | €20,682 | +€1,263 | +6.5% |
| Accrued charges and deferred income | 492/3 | €146 | €1,260 | +€1,115 | +765.6% |
| Non-recurring operating income | 76A | - | €7,518 | +€7,518 | |
| Remuneration, social security and pensions | 62 | €50,748 | €58,893 | +€8,145 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,067 | €26,087 | +€4,020 | +18.2% |
| Other operating charges | 640/8 | €2,879 | €7,056 | +€4,176 | +145.0% |
| Gross operating margin | 9900 | €91,932 | €93,870 | +€1,937 | +2.1% |
| Operating profit (loss) | 9901 | €16,238 | €1,834 | -€14,404 | -88.7% |
| Financial income | 75/76B | €10 | €0 | -€10 | -99.6% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -99.6% |
| Financial charges | 65/66B | €4,319 | €6,276 | +€1,957 | +45.3% |
| Recurring financial charges | 65 | €4,319 | €6,276 | +€1,957 | +45.3% |
| Profit (loss) for the period before taxes | 9903 | €11,929 | -€4,442 | -€16,371 | |
| Income taxes | 67/77 | €3,671 | €225 | -€3,446 | -93.9% |
| Profit (loss) for the period | 9904 | €8,258 | -€4,667 | -€12,925 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,258 | -€4,667 | -€12,925 |
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 30 September 2026 via checked.be.