KH montage: what changed
KH montage
Largest movements
- Tangible fixed assets -€16,088
down €16,088 (-42.3%), from €38,070 to €21,982
of which Furniture and vehicles: -€13,629
- Receivables within one year -€6,207
down €6,207 (-53.4%), from €11,616 to €5,410
of which Trade receivables: -€5,395
- Cash -€3,001
down €3,001 (-28.7%), from €10,455 to €7,455
mainly Debts after one year (-€13,851) and Net result for the year (-€7,806)
- Debts after one year -€13,851
down €13,851 (-67.9%), from €20,407 to €6,556
- Reserves -€4,360
no longer reported in 2025 (was €4,360)
- Profit (loss) carried forward -€3,446
new in 2025: -€3,446
- Tax, wage and social debts -€2,289
down €2,289 (-94.2%), from €2,429 to €141
of which Remuneration and social security: -€2,429
- Trade debts -€787
down €787 (-21.4%), from €3,670 to €2,884
- Gross operating margin -€7,921
down €7,921 (-38.6%), from €20,502 to €12,581
- Financial charges +€924
up €924 (+42.4%), from €2,177 to €3,101
- Depreciation -€416
down €416 (-2.5%), from €16,504 to €16,088
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,450 | €35,281 | -€25,168 | -41.6% |
| Fixed assets | 21/28 | €38,070 | €21,982 | -€16,088 | -42.3% |
| Tangible fixed assets | 22/27 | €38,070 | €21,982 | -€16,088 | -42.3% |
| Plant, machinery and equipment | 23 | €5,339 | €2,880 | -€2,459 | -46.1% |
| Furniture and vehicles | 24 | €32,731 | €19,102 | -€13,629 | -41.6% |
| Current assets | 29/58 | €22,380 | €13,299 | -€9,081 | -40.6% |
| Amounts receivable within one year | 40/41 | €11,616 | €5,410 | -€6,207 | -53.4% |
| Trade receivables | 40 | €10,277 | €4,882 | -€5,395 | -52.5% |
| Other amounts receivable | 41 | €1,339 | €528 | -€811 | -60.6% |
| Cash at bank and in hand | 54/58 | €10,455 | €7,455 | -€3,001 | -28.7% |
| Deferred charges and accrued income | 490/1 | €308 | €434 | +€126 | +40.9% |
| Total equity and liabilities | 10/49 | €60,450 | €35,281 | -€25,168 | -41.6% |
| Equity | 10/15 | €9,360 | €1,554 | -€7,806 | -83.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €4,360 | - | -€4,360 | |
| Distributable reserves | 133 | €4,360 | - | -€4,360 | |
| Profit (loss) carried forward | 14 | - | -€3,446 | -€3,446 | |
| Amounts payable | 17/49 | €51,090 | €33,727 | -€17,363 | -34.0% |
| Amounts payable after more than one year | 17 | €20,407 | €6,556 | -€13,851 | -67.9% |
| Financial debts | 170/4 | €20,407 | €6,556 | -€13,851 | -67.9% |
| Amounts payable within one year | 42/48 | €30,683 | €27,171 | -€3,512 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €13,877 | €13,851 | -€26 | -0.2% |
| Trade debts | 44 | €3,670 | €2,884 | -€787 | -21.4% |
| Suppliers | 440/4 | €3,670 | €2,884 | -€787 | -21.4% |
| Taxes, remuneration and social security | 45 | €2,429 | €141 | -€2,289 | -94.2% |
| Taxes | 450/3 | - | €141 | +€141 | |
| Remuneration and social security | 454/9 | €2,429 | - | -€2,429 | |
| Other amounts payable | 47/48 | €10,706 | €10,296 | -€410 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,504 | €16,088 | -€416 | -2.5% |
| Other operating charges | 640/8 | €942 | €1,057 | +€115 | +12.2% |
| Gross operating margin | 9900 | €20,502 | €12,581 | -€7,921 | -38.6% |
| Operating profit (loss) | 9901 | €3,055 | -€4,564 | -€7,619 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -98.8% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -98.8% |
| Financial charges | 65/66B | €2,177 | €3,101 | +€924 | +42.4% |
| Recurring financial charges | 65 | €2,177 | €3,101 | +€924 | +42.4% |
| Profit (loss) for the period before taxes | 9903 | €881 | -€7,665 | -€8,546 | |
| Income taxes | 67/77 | - | €141 | +€141 | |
| Profit (loss) for the period | 9904 | €881 | -€7,806 | -€8,687 | |
| Profit (loss) for the period to be appropriated | 9905 | €881 | -€7,806 | -€8,687 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.