KH BEHEER: 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 BEHEER
Largest movements
- Tangible fixed assets +€2.6m
up €2.6m (+57.7%), from €4.5m to €7.1m
of which Land and buildings: +€2.5m
- Receivables after one year +€750,000
new in 2025: €750,000
- Receivables within one year -€470,621
down €470,621 (-70.4%), from €668,407 to €197,787
of which Other amounts receivable: -€485,732
- Cash +€169,989
up €169,989 (+465%), from €36,520 to €206,509
mainly Short-term financial debts (+€1.7m) and Other debts (+€1.4m)
- Short-term financial debts +€1.7m
up €1.7m (+15,401%), from €11,064 to €1.7m
of which Credit institutions: +€1.7m
- Other debts +€1.4m
up €1.4m (+52.2%), from €2.8m to €4.2m
- Debts after one year +€333,672
up €333,672 (+20.4%), from €1.6m to €2.0m
- Reserves -€317,264
down €317,264 (-53.5%), from €593,469 to €276,205
of which Distributable reserves: -€317,264
- Depreciation +€349,776
up €349,776 (+379%), from €92,210 to €441,986
- Gross operating margin -€72,652
down €72,652 (-22.5%), from €322,465 to €249,812
- Other operating charges -€52,169
down €52,169 (-48.4%), from €107,760 to €55,591
- Financial income +€40,954
up €40,954 (+1,115%), from €3,675 to €44,628
- Financial charges +€33,066
up €33,066 (+48.4%), from €68,327 to €101,393
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 | €5,560,784 | €8,654,952 | +€3.1m | +55.6% |
| Fixed assets | 21/28 | €4,827,853 | €7,432,343 | +€2.6m | +53.9% |
| Tangible fixed assets | 22/27 | €4,516,779 | €7,121,268 | +€2.6m | +57.7% |
| Land and buildings | 22 | €3,489,888 | €6,033,062 | +€2.5m | +72.9% |
| Plant, machinery and equipment | 23 | €17,754 | €23,686 | +€5,931 | +33.4% |
| Furniture and vehicles | 24 | €33,419 | €25,572 | -€7,847 | -23.5% |
| Other tangible fixed assets | 26 | €975,718 | €1,038,949 | +€63,231 | +6.5% |
| Financial fixed assets | 28 | €311,075 | €311,075 | = | 0.0% |
| Current assets | 29/58 | €732,931 | €1,222,609 | +€489,679 | +66.8% |
| Amounts receivable after more than one year | 29 | - | €750,000 | +€750,000 | |
| Other amounts receivable | 291 | - | €750,000 | +€750,000 | |
| Amounts receivable within one year | 40/41 | €668,407 | €197,787 | -€470,621 | -70.4% |
| Trade receivables | 40 | €139,945 | €155,056 | +€15,111 | +10.8% |
| Other amounts receivable | 41 | €528,462 | €42,731 | -€485,732 | -91.9% |
| Cash at bank and in hand | 54/58 | €36,520 | €206,509 | +€169,989 | +465% |
| Deferred charges and accrued income | 490/1 | €28,003 | €68,314 | +€40,310 | +144% |
| Total equity and liabilities | 10/49 | €5,560,784 | €8,654,952 | +€3.1m | +55.6% |
| Equity | 10/15 | €860,869 | €543,605 | -€317,264 | -36.9% |
| Contributions | 10/11 | €267,400 | €267,400 | = | 0.0% |
| Reserves | 13 | €593,469 | €276,205 | -€317,264 | -53.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €593,469 | €276,205 | -€317,264 | -53.5% |
| Amounts payable | 17/49 | €4,699,915 | €8,111,347 | +€3.4m | +72.6% |
| Amounts payable after more than one year | 17 | €1,635,983 | €1,969,655 | +€333,672 | +20.4% |
| Financial debts | 170/4 | €1,635,983 | €1,969,655 | +€333,672 | +20.4% |
| Amounts payable within one year | 42/48 | €3,036,634 | €6,141,010 | +€3.1m | +102% |
| Current portion of amounts payable after more than one year | 42 | €153,777 | €149,378 | -€4,399 | -2.9% |
| Financial debts | 43 | €11,064 | €1,715,000 | +€1.7m | +15,401% |
| Credit institutions | 430/8 | €11,064 | €1,715,000 | +€1.7m | +15,401% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €108,663 | €70,031 | -€38,632 | -35.6% |
| Suppliers | 440/4 | €108,663 | €70,031 | -€38,632 | -35.6% |
| Taxes, remuneration and social security | 45 | €8,212 | €14,331 | +€6,119 | +74.5% |
| Taxes | 450/3 | €5,265 | €11,375 | +€6,110 | +116% |
| Remuneration and social security | 454/9 | €2,947 | €2,956 | +€10 | +0.3% |
| Other amounts payable | 47/48 | €2,754,918 | €4,192,269 | +€1.4m | +52.2% |
| Accrued charges and deferred income | 492/3 | €27,298 | €682 | -€26,616 | -97.5% |
| Non-recurring operating income | 76A | €70,806 | €95,082 | +€24,277 | +34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,210 | €441,986 | +€349,776 | +379% |
| Other operating charges | 640/8 | €107,760 | €55,591 | -€52,169 | -48.4% |
| Non-recurring operating charges | 66A | - | €8,212 | +€8,212 | |
| Gross operating margin | 9900 | €322,465 | €249,812 | -€72,652 | -22.5% |
| Operating profit (loss) | 9901 | €122,494 | -€255,976 | -€378,471 | |
| Financial income | 75/76B | €3,675 | €44,628 | +€40,954 | +1,115% |
| Recurring financial income | 75 | €3,675 | €44,628 | +€40,954 | +1,115% |
| Financial charges | 65/66B | €68,327 | €101,393 | +€33,066 | +48.4% |
| Recurring financial charges | 65 | €68,327 | €101,393 | +€33,066 | +48.4% |
| Profit (loss) for the period before taxes | 9903 | €57,842 | -€312,741 | -€370,583 | |
| Income taxes | 67/77 | €18,791 | €4,523 | -€14,269 | -75.9% |
| Profit (loss) for the period | 9904 | €39,051 | -€317,264 | -€356,314 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,051 | -€317,264 | -€356,314 |
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 26 October 2026 via checked.be.