KDS Beheer: 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.
KDS Beheer
Largest movements
- Cash +€2.2m
up €2.2m (+611%), from €353,929 to €2.5m
mainly Net result for the year (+€1.4m) and Investment in fixed assets (net) (+€1.3m)
- Financial fixed assets -€1.4m
no longer reported in 2025 (was €1.4m)
- Current investments -€723,182
down €723,182 (-25.6%), from €2.8m to €2.1m
- Receivables after one year -€250,000
down €250,000 (-50.0%), from €500,000 to €250,000
- Revaluation surpluses -€1.3m
no longer reported in 2025 (was €1.3m)
- Reserves +€1.2m
up €1.2m (+27.8%), from €4.3m to €5.5m
- Other debts -€213,491
down €213,491 (-45.6%), from €468,491 to €255,000
- Tax, wage and social debts +€126,667
up €126,667 (+162%), from €77,988 to €204,656
- Financial income +€1.3m
up €1.3m (+352%), from €365,817 to €1.7m
of which Non-recurring financial income: +€1.4m
- Taxes +€81,953
up €81,953 (+75.3%), from €108,851 to €190,805
- Gross operating margin -€81,390
down €81,390 (-33.2%), from €245,161 to €163,771
- Financial charges +€17,961
up €17,961 (+59.0%), from €30,450 to €48,411
- Other operating charges -€8,316
down €8,316 (-49.1%), from €16,948 to €8,632
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 | €6,667,092 | €6,460,903 | -€206,189 | -3.1% |
| Fixed assets | 21/28 | €2,932,911 | €1,514,847 | -€1.4m | -48.4% |
| Tangible fixed assets | 22/27 | €1,558,106 | €1,514,847 | -€43,260 | -2.8% |
| Land and buildings | 22 | €1,491,410 | €1,399,602 | -€91,808 | -6.2% |
| Plant, machinery and equipment | 23 | €2,002 | €693 | -€1,309 | -65.4% |
| Furniture and vehicles | 24 | €59,694 | €109,552 | +€49,858 | +83.5% |
| Other tangible fixed assets | 26 | €5,000 | €5,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,374,805 | - | -€1.4m | |
| Current assets | 29/58 | €3,734,181 | €4,946,057 | +€1.2m | +32.5% |
| Amounts receivable after more than one year | 29 | €500,000 | €250,000 | -€250,000 | -50.0% |
| Other amounts receivable | 291 | €500,000 | €250,000 | -€250,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €33,209 | €65,789 | +€32,580 | +98.1% |
| Trade receivables | 40 | €30,361 | €16,570 | -€13,791 | -45.4% |
| Other amounts receivable | 41 | €2,848 | €49,219 | +€46,371 | +1,628% |
| Current investments | 50/53 | €2,821,876 | €2,098,694 | -€723,182 | -25.6% |
| Cash at bank and in hand | 54/58 | €353,929 | €2,517,451 | +€2.2m | +611% |
| Deferred charges and accrued income | 490/1 | €25,167 | €14,122 | -€11,045 | -43.9% |
| Total equity and liabilities | 10/49 | €6,667,092 | €6,460,903 | -€206,189 | -3.1% |
| Equity | 10/15 | €5,536,050 | €5,475,159 | -€60,891 | -1.1% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Revaluation surpluses | 12 | €1,252,342 | - | -€1.3m | |
| Reserves | 13 | €4,283,707 | €5,475,158 | +€1.2m | +27.8% |
| Distributable reserves | 133 | €4,283,707 | €5,475,158 | +€1.2m | +27.8% |
| Amounts payable | 17/49 | €1,131,042 | €985,744 | -€145,298 | -12.8% |
| Amounts payable after more than one year | 17 | €513,190 | €451,314 | -€61,876 | -12.1% |
| Financial debts | 170/4 | €513,190 | €451,314 | -€61,876 | -12.1% |
| Amounts payable within one year | 42/48 | €615,870 | €527,160 | -€88,710 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | €60,382 | €61,876 | +€1,494 | +2.5% |
| Trade debts | 44 | €9,009 | €5,629 | -€3,380 | -37.5% |
| Suppliers | 440/4 | €9,009 | €5,629 | -€3,380 | -37.5% |
| Taxes, remuneration and social security | 45 | €77,988 | €204,656 | +€126,667 | +162% |
| Taxes | 450/3 | €77,988 | €204,656 | +€126,667 | +162% |
| Other amounts payable | 47/48 | €468,491 | €255,000 | -€213,491 | -45.6% |
| Accrued charges and deferred income | 492/3 | €1,982 | €7,270 | +€5,288 | +267% |
| Non-recurring operating income | 76A | - | €43,499 | +€43,499 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,966 | €121,739 | +€5,774 | +5.0% |
| Other operating charges | 640/8 | €16,948 | €8,632 | -€8,316 | -49.1% |
| Gross operating margin | 9900 | €245,161 | €163,771 | -€81,390 | -33.2% |
| Operating profit (loss) | 9901 | €112,247 | €33,400 | -€78,848 | -70.2% |
| Financial income | 75/76B | €365,817 | €1,652,267 | +€1.3m | +352% |
| Recurring financial income | 75 | €365,817 | €214,668 | -€151,149 | -41.3% |
| Non-recurring financial income | 76B | - | €1,437,600 | +€1.4m | |
| Financial charges | 65/66B | €30,450 | €48,411 | +€17,961 | +59.0% |
| Recurring financial charges | 65 | €30,450 | €48,411 | +€17,961 | +59.0% |
| Profit (loss) for the period before taxes | 9903 | €447,614 | €1,637,255 | +€1.2m | +266% |
| Income taxes | 67/77 | €108,851 | €190,805 | +€81,953 | +75.3% |
| Profit (loss) for the period | 9904 | €338,763 | €1,446,451 | +€1.1m | +327% |
| Profit (loss) for the period to be appropriated | 9905 | €338,763 | €1,446,451 | +€1.1m | +327% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.