KH ENERGY: what changed
Two fiscal 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 ENERGY
Largest movements
- Receivables within one year +€36,792
up €36,792 (+163.6%), from €22,483 to €59,275
of which Trade receivables: +€34,703
- Cash +€17,893
up €17,893 (+1793.3%), from €998 to €18,891
mainly Trade debts (+€33,742) and Net result for the year (+€14,625)
- Tangible fixed assets -€4,326
down €4,326 (-38.5%), from €11,247 to €6,921
of which Furniture and vehicles: -€6,313
- Deferred charges and accrued income +€1,739
new in 2025: €1,739
- Trade debts +€33,742
up €33,742 (+152.4%), from €22,135 to €55,877
- Profit (loss) carried forward +€14,625
up €14,625 (+356.7%), from €4,100 to €18,725
- Tax, wage and social debts +€2,931
up €2,931 (+53.4%), from €5,493 to €8,424
of which Taxes: +€7,419
- Gross operating margin +€12,732
up €12,732 (+88.0%), from €14,474 to €27,206
- Taxes +€2,705
up €2,705 (+269.0%), from €1,006 to €3,710
- Depreciation -€1,963
down €1,963 (-22.6%), from €8,701 to €6,738
- Other operating charges +€1,387
up €1,387 (+467.1%), from €297 to €1,684
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.
Cash bridge derived
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 | €34,728 | €86,826 | +€52,098 | +150.0% |
| Fixed assets | 21/28 | €11,247 | €6,921 | -€4,326 | -38.5% |
| Tangible fixed assets | 22/27 | €11,247 | €6,921 | -€4,326 | -38.5% |
| Plant, machinery and equipment | 23 | €779 | €2,765 | +€1,986 | +255.0% |
| Furniture and vehicles | 24 | €10,468 | €4,156 | -€6,313 | -60.3% |
| Current assets | 29/58 | €23,481 | €79,905 | +€56,424 | +240.3% |
| Amounts receivable within one year | 40/41 | €22,483 | €59,275 | +€36,792 | +163.6% |
| Trade receivables | 40 | €21,793 | €56,496 | +€34,703 | +159.2% |
| Other amounts receivable | 41 | €690 | €2,779 | +€2,089 | +302.6% |
| Cash at bank and in hand | 54/58 | €998 | €18,891 | +€17,893 | +1793.3% |
| Deferred charges and accrued income | 490/1 | - | €1,739 | +€1,739 | |
| Total equity and liabilities | 10/49 | €34,728 | €86,826 | +€52,098 | +150.0% |
| Equity | 10/15 | €7,100 | €21,725 | +€14,625 | +206.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,100 | €18,725 | +€14,625 | +356.7% |
| Amounts payable | 17/49 | €27,628 | €65,101 | +€37,473 | +135.6% |
| Amounts payable within one year | 42/48 | €27,628 | €65,101 | +€37,473 | +135.6% |
| Trade debts | 44 | €22,135 | €55,877 | +€33,742 | +152.4% |
| Suppliers | 440/4 | €22,135 | €55,877 | +€33,742 | +152.4% |
| Taxes, remuneration and social security | 45 | €5,493 | €8,424 | +€2,931 | +53.4% |
| Taxes | 450/3 | €1,006 | €8,424 | +€7,419 | +737.8% |
| Remuneration and social security | 454/9 | €4,488 | - | -€4,488 | |
| Other amounts payable | 47/48 | - | €800 | +€800 | |
| Remuneration, social security and pensions | 62 | €165 | - | -€165 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,701 | €6,738 | -€1,963 | -22.6% |
| Other operating charges | 640/8 | €297 | €1,684 | +€1,387 | +467.1% |
| Gross operating margin | 9900 | €14,474 | €27,206 | +€12,732 | +88.0% |
| Operating profit (loss) | 9901 | €5,312 | €18,784 | +€13,472 | +253.6% |
| Financial charges | 65/66B | €207 | €449 | +€243 | +117.5% |
| Recurring financial charges | 65 | €207 | €449 | +€243 | +117.5% |
| Profit (loss) for the period before taxes | 9903 | €5,106 | €18,335 | +€13,229 | +259.1% |
| Income taxes | 67/77 | €1,006 | €3,710 | +€2,705 | +269.0% |
| Profit (loss) for the period | 9904 | €4,100 | €14,625 | +€10,525 | +256.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,100 | €14,625 | +€10,525 | +256.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.