KGRE 3: 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.
KGRE 3
Largest movements
- Tangible fixed assets +€649,183
up €649,183 (+95.0%), from €683,463 to €1.3m
- Cash +€205,821
up €205,821 (+293%), from €70,296 to €276,117
mainly Contributions, distributions and other (+€644,000) and Other debts (+€301,423)
- Contributions +€644,000
up €644,000 (+1,039%), from €62,000 to €706,000
- Other debts +€301,423
up €301,423, from €0 to €301,423
- Profit (loss) carried forward -€36,965
down €36,965 (-14.5%), from -€254,141 to -€291,106
- Debts after one year -€26,589
down €26,589 (-5.9%), from €450,115 to €423,525
- Gross operating margin +€17,416
up €17,416 (+71.5%), from -€24,359 to -€6,943
- Financial charges +€1,543
up €1,543 (+7.0%), from €22,019 to €23,562
- Other operating charges +€1,443
up €1,443 (+82.7%), from €1,743 to €3,186
- Depreciation +€879
up €879 (+5.5%), from €16,053 to €16,932
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 | €753,759 | €1,610,090 | +€856,331 | +114% |
| Fixed assets | 21/28 | €683,463 | €1,332,646 | +€649,183 | +95.0% |
| Tangible fixed assets | 22/27 | €683,463 | €1,332,646 | +€649,183 | +95.0% |
| Land and buildings | 22 | €683,463 | €1,332,646 | +€649,183 | +95.0% |
| Current assets | 29/58 | €70,296 | €277,445 | +€207,148 | +295% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €70,296 | €276,117 | +€205,821 | +293% |
| Deferred charges and accrued income | 490/1 | - | €1,327 | +€1,327 | |
| Total equity and liabilities | 10/49 | €753,759 | €1,610,090 | +€856,331 | +114% |
| Equity | 10/15 | €131,649 | €729,066 | +€597,417 | +454% |
| Contributions | 10/11 | €62,000 | €706,000 | +€644,000 | +1,039% |
| Capital | 10 | €62,000 | €706,000 | +€644,000 | +1,039% |
| Issued capital | 100 | €62,000 | €706,000 | +€644,000 | +1,039% |
| Reserves | 13 | €323,790 | €314,172 | -€9,617 | -3.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €317,590 | €307,972 | -€9,617 | -3.0% |
| Profit (loss) carried forward | 14 | -€254,141 | -€291,106 | -€36,965 | -14.5% |
| Provisions and deferred taxes | 16 | €133,404 | €129,364 | -€4,040 | -3.0% |
| Deferred taxes | 168 | €133,404 | €129,364 | -€4,040 | -3.0% |
| Amounts payable | 17/49 | €488,706 | €751,660 | +€262,953 | +53.8% |
| Amounts payable after more than one year | 17 | €450,115 | €423,525 | -€26,589 | -5.9% |
| Financial debts | 170/4 | €450,115 | €423,525 | -€26,589 | -5.9% |
| Amounts payable within one year | 42/48 | €38,592 | €328,134 | +€289,543 | +750% |
| Current portion of amounts payable after more than one year | 42 | €25,544 | €26,589 | +€1,045 | +4.1% |
| Trade debts | 44 | €10,528 | €0 | -€10,528 | -100% |
| Suppliers | 440/4 | €10,528 | €0 | -€10,528 | -100% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,520 | €122 | -€2,398 | -95.2% |
| Taxes | 450/3 | €2,520 | €122 | -€2,398 | -95.2% |
| Other amounts payable | 47/48 | €0 | €301,423 | +€301,423 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,053 | €16,932 | +€879 | +5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,743 | €3,186 | +€1,443 | +82.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€24,359 | -€6,943 | +€17,416 | +71.5% |
| Operating profit (loss) | 9901 | -€42,155 | -€27,061 | +€15,094 | +35.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €22,019 | €23,562 | +€1,543 | +7.0% |
| Recurring financial charges | 65 | €22,019 | €23,562 | +€1,543 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | -€64,174 | -€50,623 | +€13,551 | +21.1% |
| Transfer from deferred taxes | 780 | €4,199 | €4,040 | -€159 | -3.8% |
| Profit (loss) for the period | 9904 | -€59,975 | -€46,583 | +€13,392 | +22.3% |
| Transfer from tax-exempt reserves | 789 | €9,996 | €9,617 | -€379 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,978 | -€36,965 | +€13,013 | +26.0% |
Source: filed annual accounts (NBB), financial years ended 30 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.