Kgéo: 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.
Kgéo
Largest movements
- Receivables within one year +€15,395
up €15,395 (+44.3%), from €34,756 to €50,151
of which Trade receivables: +€23,883
- Tangible fixed assets -€13,716
down €13,716 (-33.3%), from €41,246 to €27,530
of which Plant, machinery and equipment: -€7,581
- Deferred charges and accrued income +€1,717
up €1,717 (+27.2%), from €6,315 to €8,033
- Other debts +€9,120
up €9,120 (+78.8%), from €11,575 to €20,694
- Debts after one year -€4,418
no longer reported in 2025 (was €4,418)
- Reserves -€3,300
down €3,300 (-6.6%), from €50,000 to €46,700
- Tax, wage and social debts +€3,164
up €3,164 (+18.7%), from €16,892 to €20,056
of which Taxes: +€2,642
- Current portion of long-term debt -€2,015
down €2,015 (-31.3%), from €6,433 to €4,418
- Gross operating margin +€12,794
up €12,794 (+13.3%), from €96,482 to €109,276
- Staff costs +€4,460
up €4,460 (+7.2%), from €62,129 to €66,590
- Taxes +€1,621
up €1,621 (+31.6%), from €5,127 to €6,748
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 | €112,836 | €116,812 | +€3,976 | +3.5% |
| Fixed assets | 21/28 | €43,296 | €29,580 | -€13,716 | -31.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €41,246 | €27,530 | -€13,716 | -33.3% |
| Plant, machinery and equipment | 23 | €20,169 | €12,587 | -€7,581 | -37.6% |
| Furniture and vehicles | 24 | €10,275 | €6,005 | -€4,270 | -41.6% |
| Other tangible fixed assets | 26 | €10,802 | €8,938 | -€1,864 | -17.3% |
| Financial fixed assets | 28 | €2,050 | €2,050 | = | 0.0% |
| Current assets | 29/58 | €69,540 | €87,232 | +€17,692 | +25.4% |
| Amounts receivable within one year | 40/41 | €34,756 | €50,151 | +€15,395 | +44.3% |
| Trade receivables | 40 | €25,718 | €49,602 | +€23,883 | +92.9% |
| Other amounts receivable | 41 | €9,038 | €549 | -€8,488 | -93.9% |
| Cash at bank and in hand | 54/58 | €28,469 | €29,049 | +€580 | +2.0% |
| Deferred charges and accrued income | 490/1 | €6,315 | €8,033 | +€1,717 | +27.2% |
| Total equity and liabilities | 10/49 | €112,836 | €116,812 | +€3,976 | +3.5% |
| Equity | 10/15 | €70,572 | €67,281 | -€3,291 | -4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €50,000 | €46,700 | -€3,300 | -6.6% |
| Distributable reserves | 133 | €50,000 | €46,700 | -€3,300 | -6.6% |
| Profit (loss) carried forward | 14 | €1,972 | €1,981 | +€9 | +0.4% |
| Amounts payable | 17/49 | €42,264 | €49,532 | +€7,268 | +17.2% |
| Amounts payable after more than one year | 17 | €4,418 | - | -€4,418 | |
| Financial debts | 170/4 | €4,418 | - | -€4,418 | |
| Amounts payable within one year | 42/48 | €37,846 | €49,532 | +€11,686 | +30.9% |
| Current portion of amounts payable after more than one year | 42 | €6,433 | €4,418 | -€2,015 | -31.3% |
| Trade debts | 44 | €2,946 | €4,363 | +€1,417 | +48.1% |
| Suppliers | 440/4 | €2,946 | €4,363 | +€1,417 | +48.1% |
| Taxes, remuneration and social security | 45 | €16,892 | €20,056 | +€3,164 | +18.7% |
| Taxes | 450/3 | €3,101 | €5,743 | +€2,642 | +85.2% |
| Remuneration and social security | 454/9 | €13,791 | €14,313 | +€522 | +3.8% |
| Other amounts payable | 47/48 | €11,575 | €20,694 | +€9,120 | +78.8% |
| Remuneration, social security and pensions | 62 | €62,129 | €66,590 | +€4,460 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,646 | €14,459 | +€813 | +6.0% |
| Other operating charges | 640/8 | €4,744 | €4,300 | -€444 | -9.3% |
| Gross operating margin | 9900 | €96,482 | €109,276 | +€12,794 | +13.3% |
| Operating profit (loss) | 9901 | €15,963 | €23,927 | +€7,964 | +49.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €700 | €470 | -€230 | -32.8% |
| Recurring financial charges | 65 | €700 | €470 | -€230 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €15,263 | €23,457 | +€8,194 | +53.7% |
| Income taxes | 67/77 | €5,127 | €6,748 | +€1,621 | +31.6% |
| Profit (loss) for the period | 9904 | €10,136 | €16,709 | +€6,573 | +64.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,136 | €16,709 | +€6,573 | +64.8% |
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.