KH MULTICONCEPT: 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 MULTICONCEPT
Largest movements
- Receivables within one year +€46,676
up €46,676 (+261.1%), from €17,875 to €64,551
of which Trade receivables: +€37,176
- Cash +€29,167
up €29,167 (+75.9%), from €38,447 to €67,614
mainly Net result for the year (+€53,511) and Depreciation (+€43,612)
- Tangible fixed assets +€19,519
up €19,519 (+14.5%), from €135,063 to €154,582
of which Plant, machinery and equipment: +€21,124
- Profit (loss) carried forward +€38,511
up €38,511 (+185.2%), from €20,793 to €59,304
- Debts after one year +€35,041
up €35,041 (+303.2%), from €11,556 to €46,597
- Other debts -€29,619
down €29,619 (-22.5%), from €131,533 to €101,914
- Tax, wage and social debts +€21,583
up €21,583 (+413.0%), from €5,226 to €26,809
of which Taxes: +€17,102
- Reserves +€15,000
new in 2025: €15,000
- Gross operating margin +€78,091
up €78,091 (+85.3%), from €91,579 to €169,670
- Taxes +€13,530
up €13,530 (+3876.8%), from €349 to €13,879
- Staff costs +€11,337
up €11,337 (+26.7%), from €42,533 to €53,870
- Depreciation +€5,009
up €5,009 (+13.0%), from €38,603 to €43,612
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 | €199,655 | €297,523 | +€97,868 | +49.0% |
| Fixed assets | 21/28 | €136,117 | €155,636 | +€19,519 | +14.3% |
| Tangible fixed assets | 22/27 | €135,063 | €154,582 | +€19,519 | +14.5% |
| Plant, machinery and equipment | 23 | €42,270 | €63,394 | +€21,124 | +50.0% |
| Furniture and vehicles | 24 | €92,793 | €78,388 | -€14,405 | -15.5% |
| Assets under construction and advance payments | 27 | - | €12,800 | +€12,800 | |
| Financial fixed assets | 28 | €1,054 | €1,054 | = | 0.0% |
| Current assets | 29/58 | €63,538 | €141,887 | +€78,349 | +123.3% |
| Stocks and contracts in progress | 3 | €2,156 | €3,527 | +€1,371 | +63.6% |
| Stocks | 30/36 | €2,156 | €3,527 | +€1,371 | +63.6% |
| Amounts receivable within one year | 40/41 | €17,875 | €64,551 | +€46,676 | +261.1% |
| Trade receivables | 40 | €17,130 | €54,306 | +€37,176 | +217.0% |
| Other amounts receivable | 41 | €745 | €10,245 | +€9,500 | +1275.2% |
| Cash at bank and in hand | 54/58 | €38,447 | €67,614 | +€29,167 | +75.9% |
| Deferred charges and accrued income | 490/1 | €5,060 | €6,195 | +€1,135 | +22.4% |
| Total equity and liabilities | 10/49 | €199,655 | €297,523 | +€97,868 | +49.0% |
| Equity | 10/15 | €30,793 | €84,304 | +€53,511 | +173.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €15,000 | +€15,000 | |
| Distributable reserves | 133 | - | €15,000 | +€15,000 | |
| Profit (loss) carried forward | 14 | €20,793 | €59,304 | +€38,511 | +185.2% |
| Amounts payable | 17/49 | €168,862 | €213,219 | +€44,357 | +26.3% |
| Amounts payable after more than one year | 17 | €11,556 | €46,597 | +€35,041 | +303.2% |
| Financial debts | 170/4 | €11,556 | €46,597 | +€35,041 | +303.2% |
| Amounts payable within one year | 42/48 | €157,306 | €165,787 | +€8,481 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €3,859 | €10,250 | +€6,391 | +165.6% |
| Trade debts | 44 | €16,688 | €16,814 | +€126 | +0.8% |
| Suppliers | 440/4 | €16,688 | €16,814 | +€126 | +0.8% |
| Advances received on contracts in progress | 46 | - | €10,000 | +€10,000 | |
| Taxes, remuneration and social security | 45 | €5,226 | €26,809 | +€21,583 | +413.0% |
| Taxes | 450/3 | €2,357 | €19,459 | +€17,102 | +725.6% |
| Remuneration and social security | 454/9 | €2,869 | €7,350 | +€4,481 | +156.2% |
| Other amounts payable | 47/48 | €131,533 | €101,914 | -€29,619 | -22.5% |
| Accrued charges and deferred income | 492/3 | - | €835 | +€835 | |
| Non-recurring operating income | 76A | €3,550 | - | -€3,550 | |
| Remuneration, social security and pensions | 62 | €42,533 | €53,870 | +€11,337 | +26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,603 | €43,612 | +€5,009 | +13.0% |
| Other operating charges | 640/8 | €2,472 | €2,251 | -€221 | -8.9% |
| Gross operating margin | 9900 | €91,579 | €169,670 | +€78,091 | +85.3% |
| Operating profit (loss) | 9901 | €7,971 | €69,937 | +€61,966 | +777.4% |
| Financial income | 75/76B | €34 | €142 | +€108 | +317.6% |
| Recurring financial income | 75 | €34 | €142 | +€108 | +317.6% |
| Financial charges | 65/66B | €2,396 | €2,689 | +€293 | +12.2% |
| Recurring financial charges | 65 | €2,396 | €2,689 | +€293 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €5,609 | €67,390 | +€61,781 | +1101.5% |
| Income taxes | 67/77 | €349 | €13,879 | +€13,530 | +3876.8% |
| Profit (loss) for the period | 9904 | €5,260 | €53,511 | +€48,251 | +917.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,260 | €53,511 | +€48,251 | +917.3% |
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 30 September 2026 via checked.be.