KGE: 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.
KGE
Largest movements
- Intangible fixed assets -€27,013
down €27,013 (-60.3%), from €44,762 to €17,749
- Cash -€7,752
down €7,752 (-17.9%), from €43,376 to €35,624
mainly Other debts (-€39,278) and Trade debts (-€10,402)
- Other debts -€39,278
down €39,278 (-77.8%), from €50,472 to €11,194
- Profit (loss) carried forward +€12,386
up €12,386 (+11.4%), from -€108,959 to -€96,573
- Trade debts -€10,402
down €10,402 (-58.8%), from €17,703 to €7,301
- Tax, wage and social debts +€2,406
up €2,406 (+33.7%), from €7,131 to €9,537
of which Taxes: +€3,406
- Gross operating margin +€10,777
up €10,777 (+26.6%), from €40,451 to €51,228
- Financial charges -€2,634
down €2,634 (-52.8%), from €4,993 to €2,359
- Taxes +€1,297
up €1,297 (+382.1%), from €340 to €1,637
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 | €197,948 | €163,060 | -€34,888 | -17.6% |
| Fixed assets | 21/28 | €126,340 | €99,147 | -€27,192 | -21.5% |
| Intangible fixed assets | 21 | €44,762 | €17,749 | -€27,013 | -60.3% |
| Tangible fixed assets | 22/27 | €81,528 | €81,349 | -€179 | -0.2% |
| Land and buildings | 22 | €76,599 | €78,512 | +€1,913 | +2.5% |
| Furniture and vehicles | 24 | €4,928 | €2,836 | -€2,092 | -42.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €71,608 | €63,913 | -€7,695 | -10.7% |
| Amounts receivable within one year | 40/41 | €27,862 | €27,895 | +€33 | +0.1% |
| Trade receivables | 40 | €27,434 | €27,673 | +€239 | +0.9% |
| Other amounts receivable | 41 | €428 | €222 | -€206 | -48.1% |
| Cash at bank and in hand | 54/58 | €43,376 | €35,624 | -€7,752 | -17.9% |
| Deferred charges and accrued income | 490/1 | €371 | €395 | +€24 | +6.4% |
| Total equity and liabilities | 10/49 | €197,948 | €163,060 | -€34,888 | -17.6% |
| Equity | 10/15 | €122,642 | €135,028 | +€12,386 | +10.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €213,000 | €213,000 | = | 0.0% |
| Distributable reserves | 133 | €213,000 | €213,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€108,959 | -€96,573 | +€12,386 | +11.4% |
| Amounts payable | 17/49 | €75,306 | €28,032 | -€47,274 | -62.8% |
| Amounts payable within one year | 42/48 | €75,306 | €28,032 | -€47,274 | -62.8% |
| Trade debts | 44 | €17,703 | €7,301 | -€10,402 | -58.8% |
| Suppliers | 440/4 | €17,703 | €7,301 | -€10,402 | -58.8% |
| Taxes, remuneration and social security | 45 | €7,131 | €9,537 | +€2,406 | +33.7% |
| Taxes | 450/3 | €6,131 | €9,537 | +€3,406 | +55.6% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €50,472 | €11,194 | -€39,278 | -77.8% |
| Non-recurring operating income | 76A | €3,345 | - | -€3,345 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,463 | €32,917 | +€454 | +1.4% |
| Other operating charges | 640/8 | €2,314 | €1,950 | -€364 | -15.7% |
| Gross operating margin | 9900 | €40,451 | €51,228 | +€10,777 | +26.6% |
| Operating profit (loss) | 9901 | €5,674 | €16,361 | +€10,687 | +188.3% |
| Financial income | 75/76B | €53 | €20 | -€33 | -61.4% |
| Recurring financial income | 75 | €53 | €20 | -€33 | -61.4% |
| Financial charges | 65/66B | €4,993 | €2,359 | -€2,634 | -52.8% |
| Recurring financial charges | 65 | €4,993 | €2,359 | -€2,634 | -52.8% |
| Profit (loss) for the period before taxes | 9903 | €734 | €14,023 | +€13,288 | +1809.3% |
| Income taxes | 67/77 | €340 | €1,637 | +€1,297 | +382.1% |
| Profit (loss) for the period | 9904 | €395 | €12,386 | +€11,991 | +3036.2% |
| Profit (loss) for the period to be appropriated | 9905 | €395 | €12,386 | +€11,991 | +3036.2% |
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 5 October 2026 via checked.be.