KF BELGIUM: 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 BELGIUM
Largest movements
- Cash -€24,605
down €24,605 (-60.3%), from €40,796 to €16,191
mainly Trade debts (-€13,130) and Net result for the year (-€12,210)
- Receivables within one year -€5,067
down €5,067 (-83.2%), from €6,093 to €1,026
of which Other amounts receivable: -€5,120
- Stocks and contracts +€2,816
up €2,816 (+30.0%), from €9,402 to €12,218
- Intangible fixed assets -€1,800
down €1,800 (-23.5%), from €7,650 to €5,850
- Tangible fixed assets -€1,104
down €1,104 (-22.5%), from €4,914 to €3,810
- Trade debts -€13,130
down €13,130 (-52.1%), from €25,220 to €12,091
- Profit (loss) carried forward -€12,210
down €12,210 (-70.9%), from €17,229 to €5,019
- Tax, wage and social debts -€3,653
down €3,653 (-42.2%), from €8,667 to €5,014
of which Taxes: -€2,633
- Purchases and services +€119,256
new in 2025: €119,256
- Gross operating margin -€7,264
down €7,264 (-21.3%), from €34,079 to €26,815
- Staff costs +€4,745
up €4,745 (+17.1%), from €27,758 to €32,503
- Taxes -€1,270
no longer reported in 2025 (was €1,270)
- Depreciation +€498
up €498 (+20.7%), from €2,406 to €2,904
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 | €69,717 | €40,724 | -€28,993 | -41.6% |
| Fixed assets | 21/28 | €12,564 | €9,660 | -€2,904 | -23.1% |
| Intangible fixed assets | 21 | €7,650 | €5,850 | -€1,800 | -23.5% |
| Tangible fixed assets | 22/27 | €4,914 | €3,810 | -€1,104 | -22.5% |
| Furniture and vehicles | 24 | €4,914 | €3,810 | -€1,104 | -22.5% |
| Current assets | 29/58 | €57,153 | €31,064 | -€26,089 | -45.6% |
| Stocks and contracts in progress | 3 | €9,402 | €12,218 | +€2,816 | +30.0% |
| Stocks | 30/36 | €9,402 | €12,218 | +€2,816 | +30.0% |
| Amounts receivable within one year | 40/41 | €6,093 | €1,026 | -€5,067 | -83.2% |
| Trade receivables | 40 | €867 | €920 | +€53 | +6.1% |
| Other amounts receivable | 41 | €5,225 | €106 | -€5,120 | -98.0% |
| Cash at bank and in hand | 54/58 | €40,796 | €16,191 | -€24,605 | -60.3% |
| Deferred charges and accrued income | 490/1 | €863 | €1,630 | +€767 | +88.9% |
| Total equity and liabilities | 10/49 | €69,717 | €40,724 | -€28,993 | -41.6% |
| Equity | 10/15 | €35,829 | €23,619 | -€12,210 | -34.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,229 | €5,019 | -€12,210 | -70.9% |
| Amounts payable | 17/49 | €33,888 | €17,105 | -€16,783 | -49.5% |
| Amounts payable within one year | 42/48 | €33,888 | €17,105 | -€16,783 | -49.5% |
| Trade debts | 44 | €25,220 | €12,091 | -€13,130 | -52.1% |
| Suppliers | 440/4 | €25,220 | €12,091 | -€13,130 | -52.1% |
| Taxes, remuneration and social security | 45 | €8,667 | €5,014 | -€3,653 | -42.2% |
| Taxes | 450/3 | €3,232 | €598 | -€2,633 | -81.5% |
| Remuneration and social security | 454/9 | €5,436 | €4,416 | -€1,020 | -18.8% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €119,256 | +€119,256 | |
| Remuneration, social security and pensions | 62 | €27,758 | €32,503 | +€4,745 | +17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,406 | €2,904 | +€498 | +20.7% |
| Other operating charges | 640/8 | €1,438 | €1,347 | -€91 | -6.3% |
| Gross operating margin | 9900 | €34,079 | €26,815 | -€7,264 | -21.3% |
| Operating profit (loss) | 9901 | €2,477 | -€9,939 | -€12,416 | |
| Financial income | 75/76B | €120 | €6 | -€114 | -94.7% |
| Recurring financial income | 75 | €120 | €6 | -€114 | -94.7% |
| Financial charges | 65/66B | €2,197 | €2,277 | +€80 | +3.6% |
| Recurring financial charges | 65 | €2,197 | €2,277 | +€80 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €400 | -€12,210 | -€12,610 | |
| Income taxes | 67/77 | €1,270 | - | -€1,270 | |
| Profit (loss) for the period | 9904 | -€870 | -€12,210 | -€11,340 | -1,303% |
| Profit (loss) for the period to be appropriated | 9905 | -€870 | -€12,210 | -€11,340 | -1,303% |
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.