KDU.C: 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.
KDU.C
Largest movements
- Receivables within one year -€29,499
down €29,499 (-23.1%), from €127,567 to €98,068
of which Trade receivables: -€39,037
- Current portion of long-term debt -€169,540
no longer reported in 2025 (was €169,540)
- Profit (loss) carried forward -€164,246
down €164,246 (-22.4%), from -€734,268 to -€898,514
- Debts after one year +€154,562
up €154,562 (+14.5%), from €1.1m to €1.2m
- Other debts +€132,139
up €132,139 (+18.4%), from €718,314 to €850,453
- Trade debts +€20,356
up €20,356 (+58.2%), from €34,981 to €55,337
- Gross operating margin -€99,658
down €99,658, from €37,468 to -€62,190
- Financial charges -€27,498
down €27,498 (-32.7%), from €84,002 to €56,504
- Staff costs -€8,006
down €8,006 (-22.5%), from €35,650 to €27,644
- Depreciation -€1,146
down €1,146 (-21.8%), from €5,257 to €4,111
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 | €1,863,718 | €1,833,232 | -€30,486 | -1.6% |
| Fixed assets | 21/28 | €1,734,958 | €1,733,207 | -€1,751 | -0.1% |
| Tangible fixed assets | 22/27 | €1,734,958 | €1,733,207 | -€1,751 | -0.1% |
| Land and buildings | 22 | €957,873 | €960,233 | +€2,360 | +0.2% |
| Plant, machinery and equipment | 23 | €149,525 | €149,525 | = | 0.0% |
| Furniture and vehicles | 24 | €17,618 | €13,507 | -€4,111 | -23.3% |
| Leasing and similar rights | 25 | €609,942 | €609,942 | = | 0.0% |
| Current assets | 29/58 | €128,760 | €100,025 | -€28,735 | -22.3% |
| Amounts receivable within one year | 40/41 | €127,567 | €98,068 | -€29,499 | -23.1% |
| Trade receivables | 40 | €95,546 | €56,509 | -€39,037 | -40.9% |
| Other amounts receivable | 41 | €32,021 | €41,559 | +€9,538 | +29.8% |
| Cash at bank and in hand | 54/58 | €1,193 | €1,957 | +€764 | +64.0% |
| Total equity and liabilities | 10/49 | €1,863,718 | €1,833,232 | -€30,486 | -1.6% |
| Equity | 10/15 | -€251,499 | -€415,745 | -€164,246 | -65.3% |
| Contributions | 10/11 | €6,549 | €6,549 | = | 0.0% |
| Capital | 10 | €6,549 | €6,549 | = | 0.0% |
| Issued capital | 100 | €6,549 | €6,549 | = | 0.0% |
| Reserves | 13 | €476,220 | €476,220 | = | 0.0% |
| Non-distributable reserves | 130/1 | €655 | €655 | = | 0.0% |
| Legal reserve | 130 | €655 | €655 | = | 0.0% |
| Tax-exempt reserves | 132 | €24 | €24 | = | 0.0% |
| Distributable reserves | 133 | €475,541 | €475,541 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€734,268 | -€898,514 | -€164,246 | -22.4% |
| Amounts payable | 17/49 | €2,115,217 | €2,248,977 | +€133,760 | +6.3% |
| Amounts payable after more than one year | 17 | €1,063,625 | €1,218,187 | +€154,562 | +14.5% |
| Financial debts | 170/4 | €1,063,625 | €1,218,187 | +€154,562 | +14.5% |
| Amounts payable within one year | 42/48 | €1,050,672 | €1,030,790 | -€19,882 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €169,540 | - | -€169,540 | |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €34,981 | €55,337 | +€20,356 | +58.2% |
| Suppliers | 440/4 | €34,981 | €55,337 | +€20,356 | +58.2% |
| Taxes, remuneration and social security | 45 | €2,837 | - | -€2,837 | |
| Taxes | 450/3 | €1,847 | - | -€1,847 | |
| Remuneration and social security | 454/9 | €990 | - | -€990 | |
| Other amounts payable | 47/48 | €718,314 | €850,453 | +€132,139 | +18.4% |
| Accrued charges and deferred income | 492/3 | €920 | - | -€920 | |
| Remuneration, social security and pensions | 62 | €35,650 | €27,644 | -€8,006 | -22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,257 | €4,111 | -€1,146 | -21.8% |
| Other operating charges | 640/8 | €13,228 | €13,797 | +€569 | +4.3% |
| Gross operating margin | 9900 | €37,468 | -€62,190 | -€99,658 | |
| Operating profit (loss) | 9901 | -€16,667 | -€107,742 | -€91,075 | -546% |
| Financial charges | 65/66B | €84,002 | €56,504 | -€27,498 | -32.7% |
| Recurring financial charges | 65 | €84,002 | €56,504 | -€27,498 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | -€100,669 | -€164,246 | -€63,577 | -63.2% |
| Profit (loss) for the period | 9904 | -€100,669 | -€164,246 | -€63,577 | -63.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€100,669 | -€164,246 | -€63,577 | -63.2% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.