KH and Associates: 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 and Associates
Largest movements
- Tangible fixed assets -€15,506
down €15,506 (-4.2%), from €371,999 to €356,492
of which Land and buildings: -€13,281
- Receivables within one year -€4,679
down €4,679 (-33.7%), from €13,873 to €9,195
of which Trade receivables: -€3,233
- Debts after one year -€20,219
down €20,219 (-14.1%), from €143,443 to €123,224
- Reserves -€8,306
down €8,306 (-8.8%), from €94,871 to €86,565
- Other debts +€6,288
up €6,288 (+6.5%), from €97,335 to €103,623
- Gross operating margin -€81,691
down €81,691 (-81.9%), from €99,687 to €17,996
- Taxes -€17,378
down €17,378 (-98.5%), from €17,638 to €260
- Depreciation -€6,346
down €6,346 (-29.0%), from €21,852 to €15,506
- Financial charges -€2,621
down €2,621 (-25.4%), from €10,326 to €7,705
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 | €387,311 | €365,688 | -€21,623 | -5.6% |
| Fixed assets | 21/28 | €371,999 | €356,492 | -€15,506 | -4.2% |
| Tangible fixed assets | 22/27 | €371,999 | €356,492 | -€15,506 | -4.2% |
| Land and buildings | 22 | €367,324 | €354,042 | -€13,281 | -3.6% |
| Plant, machinery and equipment | 23 | €1,031 | €800 | -€231 | -22.4% |
| Furniture and vehicles | 24 | €3,644 | €1,650 | -€1,994 | -54.7% |
| Current assets | 29/58 | €15,313 | €9,195 | -€6,117 | -39.9% |
| Amounts receivable within one year | 40/41 | €13,873 | €9,195 | -€4,679 | -33.7% |
| Trade receivables | 40 | €12,285 | €9,052 | -€3,233 | -26.3% |
| Other amounts receivable | 41 | €1,588 | €143 | -€1,445 | -91.0% |
| Cash at bank and in hand | 54/58 | €1,376 | €1 | -€1,375 | -99.9% |
| Deferred charges and accrued income | 490/1 | €63 | €0 | -€63 | -100% |
| Total equity and liabilities | 10/49 | €387,311 | €365,688 | -€21,623 | -5.6% |
| Equity | 10/15 | €113,471 | €105,165 | -€8,306 | -7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €94,871 | €86,565 | -€8,306 | -8.8% |
| Distributable reserves | 133 | €94,871 | €86,565 | -€8,306 | -8.8% |
| Amounts payable | 17/49 | €273,841 | €260,523 | -€13,318 | -4.9% |
| Amounts payable after more than one year | 17 | €143,443 | €123,224 | -€20,219 | -14.1% |
| Financial debts | 170/4 | €143,443 | €123,224 | -€20,219 | -14.1% |
| Amounts payable within one year | 42/48 | €130,398 | €136,879 | +€6,482 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €19,397 | €20,219 | +€822 | +4.2% |
| Financial debts | 43 | €4,067 | €4,932 | +€865 | +21.3% |
| Credit institutions | 430/8 | €4,067 | €4,932 | +€865 | +21.3% |
| Trade debts | 44 | €5,320 | €3,669 | -€1,651 | -31.0% |
| Suppliers | 440/4 | €5,320 | €3,669 | -€1,651 | -31.0% |
| Advances received on contracts in progress | 46 | €1,512 | €1,512 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,766 | €2,924 | +€158 | +5.7% |
| Taxes | 450/3 | €2,766 | €2,924 | +€158 | +5.7% |
| Other amounts payable | 47/48 | €97,335 | €103,623 | +€6,288 | +6.5% |
| Accrued charges and deferred income | 492/3 | - | €420 | +€420 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,852 | €15,506 | -€6,346 | -29.0% |
| Other operating charges | 640/8 | €3,730 | €2,981 | -€749 | -20.1% |
| Gross operating margin | 9900 | €99,687 | €17,996 | -€81,691 | -81.9% |
| Operating profit (loss) | 9901 | €74,105 | -€491 | -€74,596 | |
| Financial income | 75/76B | €272 | €150 | -€121 | -44.7% |
| Recurring financial income | 75 | €272 | €150 | -€121 | -44.7% |
| Financial charges | 65/66B | €10,326 | €7,705 | -€2,621 | -25.4% |
| Recurring financial charges | 65 | €10,326 | €7,705 | -€2,621 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €64,051 | -€8,046 | -€72,097 | |
| Income taxes | 67/77 | €17,638 | €260 | -€17,378 | -98.5% |
| Profit (loss) for the period | 9904 | €46,413 | -€8,306 | -€54,718 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,413 | -€8,306 | -€54,718 |
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 29 October 2026 via checked.be.