KGS: 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.
KGS
Largest movements
- Tangible fixed assets -€58,105
down €58,105 (-19.6%), from €296,379 to €238,274
of which Plant, machinery and equipment: -€35,461
- Receivables within one year +€47,987
up €47,987 (+334%), from €14,359 to €62,346
of which Other amounts receivable: +€57,759
- Deferred charges and accrued income -€9,314
down €9,314 (-70.7%), from €13,166 to €3,851
- Current portion of long-term debt -€37,268
down €37,268 (-53.6%), from €69,492 to €32,224
- Debts after one year -€29,700
down €29,700 (-27.9%), from €106,425 to €76,725
- Tax, wage and social debts +€22,250
up €22,250 (+630%), from €3,530 to €25,780
of which Taxes: +€22,250
- Reserves +€19,227
up €19,227 (+13.6%), from €141,305 to €160,532
of which Distributable reserves: +€19,227
- Other debts +€10,953
up €10,953 (+4,133%), from €265 to €11,218
- Depreciation +€15,360
up €15,360 (+35.9%), from €42,745 to €58,105
- Gross operating margin -€10,008
down €10,008 (-10.0%), from €99,608 to €89,600
- Taxes -€3,414
down €3,414 (-30.2%), from €11,300 to €7,887
- Financial income +€2,446
up €2,446 (+9,783%), from €25 to €2,471
- Financial charges +€1,711
up €1,711 (+52.0%), from €3,288 to €4,999
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 | €331,996 | €313,305 | -€18,692 | -5.6% |
| Fixed assets | 21/28 | €296,379 | €238,274 | -€58,105 | -19.6% |
| Tangible fixed assets | 22/27 | €296,379 | €238,274 | -€58,105 | -19.6% |
| Plant, machinery and equipment | 23 | €189,737 | €154,275 | -€35,461 | -18.7% |
| Furniture and vehicles | 24 | €106,642 | €83,998 | -€22,644 | -21.2% |
| Current assets | 29/58 | €35,618 | €75,031 | +€39,413 | +111% |
| Amounts receivable within one year | 40/41 | €14,359 | €62,346 | +€47,987 | +334% |
| Trade receivables | 40 | €9,772 | €0 | -€9,772 | -100% |
| Other amounts receivable | 41 | €4,587 | €62,346 | +€57,759 | +1,259% |
| Cash at bank and in hand | 54/58 | €8,093 | €8,833 | +€740 | +9.1% |
| Deferred charges and accrued income | 490/1 | €13,166 | €3,851 | -€9,314 | -70.7% |
| Total equity and liabilities | 10/49 | €331,996 | €313,305 | -€18,692 | -5.6% |
| Equity | 10/15 | €147,505 | €166,732 | +€19,227 | +13.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €141,305 | €160,532 | +€19,227 | +13.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €141,305 | €160,532 | +€19,227 | +13.6% |
| Amounts payable | 17/49 | €184,491 | €146,573 | -€37,918 | -20.6% |
| Amounts payable after more than one year | 17 | €106,425 | €76,725 | -€29,700 | -27.9% |
| Financial debts | 170/4 | €106,425 | €76,725 | -€29,700 | -27.9% |
| Amounts payable within one year | 42/48 | €78,066 | €69,848 | -€8,218 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €69,492 | €32,224 | -€37,268 | -53.6% |
| Trade debts | 44 | €4,780 | €627 | -€4,153 | -86.9% |
| Suppliers | 440/4 | €4,780 | €627 | -€4,153 | -86.9% |
| Taxes, remuneration and social security | 45 | €3,530 | €25,780 | +€22,250 | +630% |
| Taxes | 450/3 | €1,300 | €23,550 | +€22,250 | +1,711% |
| Remuneration and social security | 454/9 | €2,229 | €2,229 | = | 0.0% |
| Other amounts payable | 47/48 | €265 | €11,218 | +€10,953 | +4,133% |
| Non-recurring operating income | 76A | €18,388 | €0 | -€18,388 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,745 | €58,105 | +€15,360 | +35.9% |
| Other operating charges | 640/8 | €1,627 | €1,853 | +€225 | +13.9% |
| Gross operating margin | 9900 | €99,608 | €89,600 | -€10,008 | -10.0% |
| Operating profit (loss) | 9901 | €55,236 | €29,642 | -€25,594 | -46.3% |
| Financial income | 75/76B | €25 | €2,471 | +€2,446 | +9,783% |
| Recurring financial income | 75 | €25 | €2,471 | +€2,446 | +9,783% |
| Financial charges | 65/66B | €3,288 | €4,999 | +€1,711 | +52.0% |
| Recurring financial charges | 65 | €3,288 | €4,999 | +€1,711 | +52.0% |
| Profit (loss) for the period before taxes | 9903 | €51,973 | €27,113 | -€24,859 | -47.8% |
| Income taxes | 67/77 | €11,300 | €7,887 | -€3,414 | -30.2% |
| Profit (loss) for the period | 9904 | €40,673 | €19,227 | -€21,446 | -52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,673 | €19,227 | -€21,446 | -52.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.