KH: 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.
KH
Largest movements
- Receivables within one year -€249,535
down €249,535 (-43.4%), from €574,347 to €324,812
of which Other amounts receivable: -€310,896
- Cash -€13,304
down €13,304 (-79.5%), from €16,742 to €3,438
mainly Other debts (-€316,967) and Trade debts (-€5,234)
- Other debts -€316,967
down €316,967 (-100%), from €316,967 to €0
- Reserves +€190,767
up €190,767 (+767%), from €24,875 to €215,642
of which Distributable reserves: +€190,767
- Profit (loss) carried forward -€140,000
down €140,000 (-98.1%), from €142,675 to €2,675
- Tax, wage and social debts +€7,061
up €7,061 (+639%), from €1,105 to €8,166
- Gross operating margin +€30,589
up €30,589 (+101%), from €30,412 to €61,001
- Financial income -€23,400
down €23,400 (-100%), from €23,400 to €0
- Financial charges -€11,477
down €11,477 (-89.6%), from €12,816 to €1,339
- Taxes +€7,513
up €7,513 (+1,150%), from €653 to €8,166
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 | €592,623 | €328,251 | -€264,372 | -44.6% |
| Fixed assets | 21/28 | €565 | €0 | -€565 | -100% |
| Tangible fixed assets | 22/27 | €565 | €0 | -€565 | -100% |
| Furniture and vehicles | 24 | €565 | €0 | -€565 | -100% |
| Current assets | 29/58 | €592,058 | €328,251 | -€263,807 | -44.6% |
| Amounts receivable within one year | 40/41 | €574,347 | €324,812 | -€249,535 | -43.4% |
| Trade receivables | 40 | €50,107 | €111,468 | +€61,361 | +122% |
| Other amounts receivable | 41 | €524,241 | €213,345 | -€310,896 | -59.3% |
| Cash at bank and in hand | 54/58 | €16,742 | €3,438 | -€13,304 | -79.5% |
| Deferred charges and accrued income | 490/1 | €968 | €0 | -€968 | -100% |
| Total equity and liabilities | 10/49 | €592,623 | €328,251 | -€264,372 | -44.6% |
| Equity | 10/15 | €267,550 | €318,317 | +€50,767 | +19.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €24,875 | €215,642 | +€190,767 | +767% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,875 | €14,875 | = | 0.0% |
| Distributable reserves | 133 | - | €190,767 | +€190,767 | |
| Profit (loss) carried forward | 14 | €142,675 | €2,675 | -€140,000 | -98.1% |
| Amounts payable | 17/49 | €325,073 | €9,933 | -€315,139 | -96.9% |
| Amounts payable within one year | 42/48 | €325,073 | €9,933 | -€315,139 | -96.9% |
| Trade debts | 44 | €7,001 | €1,767 | -€5,234 | -74.8% |
| Suppliers | 440/4 | €7,001 | €1,767 | -€5,234 | -74.8% |
| Taxes, remuneration and social security | 45 | €1,105 | €8,166 | +€7,061 | +639% |
| Taxes | 450/3 | €1,105 | €8,166 | +€7,061 | +639% |
| Other amounts payable | 47/48 | €316,967 | €0 | -€316,967 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287 | €0 | -€287 | -100% |
| Other operating charges | 640/8 | €924 | €729 | -€195 | -21.1% |
| Gross operating margin | 9900 | €30,412 | €61,001 | +€30,589 | +101% |
| Operating profit (loss) | 9901 | €29,201 | €60,272 | +€31,071 | +106% |
| Financial income | 75/76B | €23,400 | €0 | -€23,400 | -100% |
| Recurring financial income | 75 | €23,400 | €0 | -€23,400 | -100% |
| Financial charges | 65/66B | €12,816 | €1,339 | -€11,477 | -89.6% |
| Recurring financial charges | 65 | €12,816 | €1,339 | -€11,477 | -89.6% |
| Profit (loss) for the period before taxes | 9903 | €39,785 | €58,933 | +€19,148 | +48.1% |
| Income taxes | 67/77 | €653 | €8,166 | +€7,513 | +1,150% |
| Profit (loss) for the period | 9904 | €39,131 | €50,767 | +€11,636 | +29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,131 | €50,767 | +€11,636 | +29.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.