KF: 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.
KF
Largest movements
- Receivables within one year +€8,067
up €8,067 (+536%), from €1,506 to €9,573
- Cash -€5,474
down €5,474 (-57.5%), from €9,525 to €4,051
mainly Receivables within one year (-€8,067) and Tax, wage and social debts (-€481)
- Receivables after one year -€507
down €507 (-10.1%), from €5,007 to €4,500
- Tangible fixed assets -€498
down €498 (-52.8%), from €943 to €445
- Trade debts +€2,358
up €2,358 (+732%), from €322 to €2,680
- Tax, wage and social debts -€481
down €481 (-4.8%), from €10,102 to €9,621
of which Remuneration and social security: -€305
- Profit (loss) carried forward -€455
down €455 (-12.6%), from -€3,610 to -€4,065
- Staff costs -€5,195
down €5,195 (-11.0%), from €47,013 to €41,818
- Gross operating margin +€3,459
up €3,459 (+8.5%), from €40,788 to €44,247
- Other operating charges +€803
up €803 (+110%), from €727 to €1,530
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 | €25,725 | €27,147 | +€1,422 | +5.5% |
| Fixed assets | 21/28 | €3,943 | €3,445 | -€498 | -12.6% |
| Tangible fixed assets | 22/27 | €943 | €445 | -€498 | -52.8% |
| Plant, machinery and equipment | 23 | €943 | €445 | -€498 | -52.8% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €21,782 | €23,702 | +€1,920 | +8.8% |
| Amounts receivable after more than one year | 29 | €5,007 | €4,500 | -€507 | -10.1% |
| Other amounts receivable | 291 | €5,007 | €4,500 | -€507 | -10.1% |
| Stocks and contracts in progress | 3 | €5,363 | €5,180 | -€183 | -3.4% |
| Stocks | 30/36 | €5,363 | €5,180 | -€183 | -3.4% |
| Amounts receivable within one year | 40/41 | €1,506 | €9,573 | +€8,067 | +536% |
| Trade receivables | 40 | €1,506 | €9,573 | +€8,067 | +536% |
| Cash at bank and in hand | 54/58 | €9,525 | €4,051 | -€5,474 | -57.5% |
| Deferred charges and accrued income | 490/1 | €381 | €398 | +€17 | +4.4% |
| Total equity and liabilities | 10/49 | €25,725 | €27,147 | +€1,422 | +5.5% |
| Equity | 10/15 | €15,301 | €14,846 | -€455 | -3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €311 | €311 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €311 | €311 | -€0 | 0.0% |
| Reserves not available under the articles | 1311 | €311 | €311 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€3,610 | -€4,065 | -€455 | -12.6% |
| Amounts payable | 17/49 | €10,424 | €12,301 | +€1,877 | +18.0% |
| Amounts payable within one year | 42/48 | €10,424 | €12,301 | +€1,877 | +18.0% |
| Trade debts | 44 | €322 | €2,680 | +€2,358 | +732% |
| Suppliers | 440/4 | €322 | €2,680 | +€2,358 | +732% |
| Taxes, remuneration and social security | 45 | €10,102 | €9,621 | -€481 | -4.8% |
| Taxes | 450/3 | €6,791 | €6,615 | -€176 | -2.6% |
| Remuneration and social security | 454/9 | €3,311 | €3,006 | -€305 | -9.2% |
| Remuneration, social security and pensions | 62 | €47,013 | €41,818 | -€5,195 | -11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €498 | €498 | -€1 | -0.1% |
| Other operating charges | 640/8 | €727 | €1,530 | +€803 | +110% |
| Gross operating margin | 9900 | €40,788 | €44,247 | +€3,459 | +8.5% |
| Operating profit (loss) | 9901 | -€7,450 | €402 | +€7,852 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €487 | €270 | -€217 | -44.6% |
| Recurring financial charges | 65 | €487 | €270 | -€217 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,936 | €132 | +€8,068 | |
| Income taxes | 67/77 | €764 | €587 | -€177 | -23.2% |
| Profit (loss) for the period | 9904 | -€8,700 | -€455 | +€8,245 | +94.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,700 | -€455 | +€8,245 | +94.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.