KF MANAGEMENT: 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.
KF MANAGEMENT
Largest movements
- Tangible fixed assets +€58,360
up €58,360 (+222.3%), from €26,255 to €84,616
of which Furniture and vehicles: +€55,231
- Receivables within one year +€6,705
up €6,705 (+18.1%), from €37,135 to €43,840
of which Trade receivables: +€15,675
- Cash +€6,190
up €6,190 (+110.1%), from €5,625 to €11,815
mainly Debts after one year (+€43,497) and Depreciation (+€14,723)
- Debts after one year +€43,497
new in 2025: €43,497
- Current portion of long-term debt +€12,297
up €12,297 (+295.1%), from €4,167 to €16,463
- Profit (loss) carried forward +€5,926
up €5,926 (+160.4%), from €3,694 to €9,620
- Accrued charges and deferred income +€2,863
up €2,863 (+69.2%), from €4,137 to €7,000
- Tax, wage and social debts +€2,696
up €2,696 (+31.0%), from €8,705 to €11,402
- Gross operating margin +€9,342
up €9,342 (+52.8%), from €17,698 to €27,040
- Taxes -€3,074
down €3,074 (-54.7%), from €5,618 to €2,543
- Depreciation +€2,359
up €2,359 (+19.1%), from €12,365 to €14,723
- Financial charges +€2,284
up €2,284 (+342.1%), from €668 to €2,952
- Other operating charges +€508
up €508 (+131.3%), from €387 to €896
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 | €75,532 | €147,207 | +€71,675 | +94.9% |
| Fixed assets | 21/28 | €32,255 | €90,616 | +€58,360 | +180.9% |
| Tangible fixed assets | 22/27 | €26,255 | €84,616 | +€58,360 | +222.3% |
| Plant, machinery and equipment | 23 | - | €3,130 | +€3,130 | |
| Furniture and vehicles | 24 | €26,255 | €81,486 | +€55,231 | +210.4% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €43,277 | €56,591 | +€13,314 | +30.8% |
| Amounts receivable within one year | 40/41 | €37,135 | €43,840 | +€6,705 | +18.1% |
| Trade receivables | 40 | €28,165 | €43,840 | +€15,675 | +55.7% |
| Other amounts receivable | 41 | €8,970 | - | -€8,970 | |
| Cash at bank and in hand | 54/58 | €5,625 | €11,815 | +€6,190 | +110.1% |
| Deferred charges and accrued income | 490/1 | €517 | €936 | +€419 | +81.0% |
| Total equity and liabilities | 10/49 | €75,532 | €147,207 | +€71,675 | +94.9% |
| Equity | 10/15 | €53,944 | €59,869 | +€5,926 | +11.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €44,049 | €44,049 | = | 0.0% |
| Distributable reserves | 133 | €44,049 | €44,049 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,694 | €9,620 | +€5,926 | +160.4% |
| Amounts payable | 17/49 | €21,588 | €87,337 | +€65,749 | +304.6% |
| Amounts payable after more than one year | 17 | - | €43,497 | +€43,497 | |
| Financial debts | 170/4 | - | €43,497 | +€43,497 | |
| Amounts payable within one year | 42/48 | €17,451 | €36,840 | +€19,389 | +111.1% |
| Current portion of amounts payable after more than one year | 42 | €4,167 | €16,463 | +€12,297 | +295.1% |
| Trade debts | 44 | €4,579 | €7,258 | +€2,678 | +58.5% |
| Suppliers | 440/4 | €4,579 | €7,258 | +€2,678 | +58.5% |
| Taxes, remuneration and social security | 45 | €8,705 | €11,402 | +€2,696 | +31.0% |
| Taxes | 450/3 | €8,705 | €11,402 | +€2,696 | +31.0% |
| Other amounts payable | 47/48 | - | €1,718 | +€1,718 | |
| Accrued charges and deferred income | 492/3 | €4,137 | €7,000 | +€2,863 | +69.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,365 | €14,723 | +€2,359 | +19.1% |
| Other operating charges | 640/8 | €387 | €896 | +€508 | +131.3% |
| Gross operating margin | 9900 | €17,698 | €27,040 | +€9,342 | +52.8% |
| Operating profit (loss) | 9901 | €4,946 | €11,420 | +€6,475 | +130.9% |
| Financial charges | 65/66B | €668 | €2,952 | +€2,284 | +342.1% |
| Recurring financial charges | 65 | €668 | €2,952 | +€2,284 | +342.1% |
| Profit (loss) for the period before taxes | 9903 | €4,278 | €8,469 | +€4,191 | +98.0% |
| Income taxes | 67/77 | €5,618 | €2,543 | -€3,074 | -54.7% |
| Profit (loss) for the period | 9904 | -€1,340 | €5,926 | +€7,265 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,340 | €5,926 | +€7,265 |
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 3 October 2026 via checked.be.