KH ELEC: 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 ELEC
Largest movements
- Deferred charges and accrued income +€40,740
up €40,740 (+5,509%), from €740 to €41,479
- Receivables after one year +€39,645
up €39,645 (+65.0%), from €61,010 to €100,655
- Receivables within one year +€6,937
up €6,937 (+15.3%), from €45,333 to €52,270
of which Trade receivables: +€24,352
- Trade debts +€35,790
up €35,790 (+11,775%), from €304 to €36,094
- Reserves +€20,598
up €20,598 (+29.9%), from €68,783 to €89,381
- Accrued charges and deferred income +€20,500
new in 2025: €20,500
- Short-term financial debts +€5,427
up €5,427 (+40.9%), from €13,273 to €18,700
- Tax, wage and social debts +€5,006
up €5,006 (+25.4%), from €19,724 to €24,730
of which Remuneration and social security: +€3,412
- Gross operating margin +€10,537
up €10,537 (+44.2%), from €23,841 to €34,378
- Taxes +€5,297
up €5,297 (+94.5%), from €5,603 to €10,900
- Other operating charges -€743
down €743 (-71.4%), from €1,041 to €298
- Depreciation -€507
no longer reported in 2025 (was €507)
- Financial charges +€409
up €409 (+18.5%), from €2,216 to €2,626
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €107,083 | €194,404 | +€87,321 | +81.5% |
| Current assets | 29/58 | €107,083 | €194,404 | +€87,321 | +81.5% |
| Amounts receivable after more than one year | 29 | €61,010 | €100,655 | +€39,645 | +65.0% |
| Other amounts receivable | 291 | €61,010 | €100,655 | +€39,645 | +65.0% |
| Amounts receivable within one year | 40/41 | €45,333 | €52,270 | +€6,937 | +15.3% |
| Trade receivables | 40 | €3,172 | €27,523 | +€24,352 | +768% |
| Other amounts receivable | 41 | €42,162 | €24,747 | -€17,415 | -41.3% |
| Deferred charges and accrued income | 490/1 | €740 | €41,479 | +€40,740 | +5,509% |
| Total equity and liabilities | 10/49 | €107,083 | €194,404 | +€87,321 | +81.5% |
| Equity | 10/15 | €73,783 | €94,381 | +€20,598 | +27.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €68,783 | €89,381 | +€20,598 | +29.9% |
| Distributable reserves | 133 | €68,783 | €89,381 | +€20,598 | +29.9% |
| Amounts payable | 17/49 | €33,300 | €100,024 | +€66,723 | +200% |
| Amounts payable within one year | 42/48 | €33,300 | €79,524 | +€46,223 | +139% |
| Financial debts | 43 | €13,273 | €18,700 | +€5,427 | +40.9% |
| Credit institutions | 430/8 | €13,273 | €18,700 | +€5,427 | +40.9% |
| Trade debts | 44 | €304 | €36,094 | +€35,790 | +11,775% |
| Suppliers | 440/4 | €304 | €36,094 | +€35,790 | +11,775% |
| Taxes, remuneration and social security | 45 | €19,724 | €24,730 | +€5,006 | +25.4% |
| Taxes | 450/3 | €19,724 | €21,318 | +€1,594 | +8.1% |
| Remuneration and social security | 454/9 | - | €3,412 | +€3,412 | |
| Accrued charges and deferred income | 492/3 | - | €20,500 | +€20,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €507 | - | -€507 | |
| Other operating charges | 640/8 | €1,041 | €298 | -€743 | -71.4% |
| Non-recurring operating charges | 66A | €1,000 | - | -€1,000 | |
| Gross operating margin | 9900 | €23,841 | €34,378 | +€10,537 | +44.2% |
| Operating profit (loss) | 9901 | €21,294 | €34,081 | +€12,787 | +60.1% |
| Financial income | 75/76B | €1 | €43 | +€42 | +4,475% |
| Recurring financial income | 75 | €1 | €43 | +€42 | +4,475% |
| Financial charges | 65/66B | €2,216 | €2,626 | +€409 | +18.5% |
| Recurring financial charges | 65 | €2,216 | €2,626 | +€409 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | €19,078 | €31,497 | +€12,419 | +65.1% |
| Income taxes | 67/77 | €5,603 | €10,900 | +€5,297 | +94.5% |
| Profit (loss) for the period | 9904 | €13,475 | €20,598 | +€7,123 | +52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,475 | €20,598 | +€7,123 | +52.9% |
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 18 October 2026 via checked.be.