KGNDW: 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.
KGNDW
Largest movements
- Receivables within one year +€248,958
up €248,958 (+33.2%), from €748,943 to €997,901
of which Trade receivables: +€239,455
- Tangible fixed assets -€117,326
down €117,326 (-15.1%), from €776,727 to €659,400
of which Land and buildings: -€60,321
- Reserves +€253,335
up €253,335 (+20.6%), from €1.2m to €1.5m
of which Distributable reserves: +€255,195
- Debts after one year -€99,872
down €99,872 (-54.3%), from €184,072 to €84,199
- Current portion of long-term debt -€19,664
down €19,664 (-16.5%), from €119,537 to €99,872
- Gross operating margin +€77,660
up €77,660 (+13.9%), from €558,154 to €635,814
- Depreciation +€25,704
up €25,704 (+24.2%), from €106,075 to €131,779
- Financial income -€14,979
no longer reported in 2025 (was €14,979)
- Taxes +€13,614
up €13,614 (+9.5%), from €143,528 to €157,142
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 | €1,603,436 | €1,743,157 | +€139,721 | +8.7% |
| Fixed assets | 21/28 | €797,015 | €672,926 | -€124,089 | -15.6% |
| Intangible fixed assets | 21 | €20,288 | €13,526 | -€6,763 | -33.3% |
| Tangible fixed assets | 22/27 | €776,727 | €659,400 | -€117,326 | -15.1% |
| Land and buildings | 22 | €569,157 | €508,836 | -€60,321 | -10.6% |
| Furniture and vehicles | 24 | €207,570 | €150,564 | -€57,006 | -27.5% |
| Current assets | 29/58 | €806,421 | €1,070,232 | +€263,811 | +32.7% |
| Amounts receivable within one year | 40/41 | €748,943 | €997,901 | +€248,958 | +33.2% |
| Trade receivables | 40 | €6,050 | €245,505 | +€239,455 | +3,958% |
| Other amounts receivable | 41 | €742,893 | €752,397 | +€9,503 | +1.3% |
| Cash at bank and in hand | 54/58 | €57,478 | €72,330 | +€14,852 | +25.8% |
| Total equity and liabilities | 10/49 | €1,603,436 | €1,743,157 | +€139,721 | +8.7% |
| Equity | 10/15 | €1,242,716 | €1,496,051 | +€253,335 | +20.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,230,108 | €1,483,442 | +€253,335 | +20.6% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Other | 1319 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €396 | €396 | = | 0.0% |
| Distributable reserves | 133 | €1,227,852 | €1,483,046 | +€255,195 | +20.8% |
| Profit (loss) carried forward | 14 | €208 | €208 | = | 0.0% |
| Amounts payable | 17/49 | €360,720 | €247,107 | -€113,613 | -31.5% |
| Amounts payable after more than one year | 17 | €184,072 | €84,199 | -€99,872 | -54.3% |
| Financial debts | 170/4 | €184,072 | €84,199 | -€99,872 | -54.3% |
| Amounts payable within one year | 42/48 | €176,649 | €162,908 | -€13,741 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €119,537 | €99,872 | -€19,664 | -16.5% |
| Trade debts | 44 | €11,685 | €1,282 | -€10,403 | -89.0% |
| Suppliers | 440/4 | €11,685 | €1,282 | -€10,403 | -89.0% |
| Taxes, remuneration and social security | 45 | €45,427 | €60,092 | +€14,665 | +32.3% |
| Taxes | 450/3 | €45,427 | €60,092 | +€14,665 | +32.3% |
| Other amounts payable | 47/48 | - | €1,661 | +€1,661 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,075 | €131,779 | +€25,704 | +24.2% |
| Other operating charges | 640/8 | €3,785 | €3,617 | -€168 | -4.4% |
| Gross operating margin | 9900 | €558,154 | €635,814 | +€77,660 | +13.9% |
| Operating profit (loss) | 9901 | €448,294 | €500,417 | +€52,124 | +11.6% |
| Financial income | 75/76B | €14,979 | - | -€14,979 | |
| Recurring financial income | 75 | €14,979 | - | -€14,979 | |
| Financial charges | 65/66B | €7,121 | €10,372 | +€3,251 | +45.7% |
| Recurring financial charges | 65 | €7,121 | €10,372 | +€3,251 | +45.7% |
| Profit (loss) for the period before taxes | 9903 | €456,152 | €490,045 | +€33,893 | +7.4% |
| Income taxes | 67/77 | €143,528 | €157,142 | +€13,614 | +9.5% |
| Profit (loss) for the period | 9904 | €312,624 | €332,904 | +€20,280 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €312,624 | €332,904 | +€20,280 | +6.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.