KH SALES: 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 SALES
Largest movements
- Cash -€96,150
down €96,150 (-38.4%), from €250,143 to €153,993
mainly Contributions, distributions and other (-€119,738) and Investment in fixed assets (net) (-€23,640)
- Tangible fixed assets +€19,114
up €19,114 (+129%), from €14,763 to €33,877
of which Land and buildings: +€20,438
- Reserves -€75,844
down €75,844 (-28.6%), from €265,117 to €189,273
- Depreciation +€1,688
up €1,688 (+59.5%), from €2,838 to €4,525
- Gross operating margin -€1,680
down €1,680 (-2.5%), from €67,073 to €65,393
- Taxes -€1,163
down €1,163 (-6.6%), from €17,536 to €16,374
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 | €279,541 | €203,644 | -€75,897 | -27.2% |
| Fixed assets | 21/28 | €14,763 | €33,877 | +€19,114 | +129% |
| Tangible fixed assets | 22/27 | €14,763 | €33,877 | +€19,114 | +129% |
| Land and buildings | 22 | €10,632 | €31,070 | +€20,438 | +192% |
| Plant, machinery and equipment | 23 | €4,131 | €2,808 | -€1,324 | -32.0% |
| Current assets | 29/58 | €264,778 | €169,766 | -€95,011 | -35.9% |
| Amounts receivable within one year | 40/41 | €14,177 | €15,116 | +€938 | +6.6% |
| Trade receivables | 40 | €12,100 | €12,100 | = | 0.0% |
| Other amounts receivable | 41 | €2,077 | €3,016 | +€938 | +45.2% |
| Cash at bank and in hand | 54/58 | €250,143 | €153,993 | -€96,150 | -38.4% |
| Deferred charges and accrued income | 490/1 | €458 | €658 | +€200 | +43.6% |
| Total equity and liabilities | 10/49 | €279,541 | €203,644 | -€75,897 | -27.2% |
| Equity | 10/15 | €266,117 | €190,273 | -€75,844 | -28.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €265,117 | €189,273 | -€75,844 | -28.6% |
| Distributable reserves | 133 | €265,117 | €189,273 | -€75,844 | -28.6% |
| Amounts payable | 17/49 | €13,424 | €13,371 | -€53 | -0.4% |
| Amounts payable within one year | 42/48 | €13,424 | €13,371 | -€53 | -0.4% |
| Trade debts | 44 | €930 | €1,108 | +€178 | +19.2% |
| Suppliers | 440/4 | €930 | €1,108 | +€178 | +19.2% |
| Taxes, remuneration and social security | 45 | €12,494 | €10,424 | -€2,070 | -16.6% |
| Taxes | 450/3 | €10,494 | €10,424 | -€70 | -0.7% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | - | €1,838 | +€1,838 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,838 | €4,525 | +€1,688 | +59.5% |
| Other operating charges | 640/8 | €513 | €527 | +€14 | +2.8% |
| Gross operating margin | 9900 | €67,073 | €65,393 | -€1,680 | -2.5% |
| Operating profit (loss) | 9901 | €63,722 | €60,340 | -€3,382 | -5.3% |
| Financial charges | 65/66B | €50 | €72 | +€22 | +44.0% |
| Recurring financial charges | 65 | €50 | €72 | +€22 | +44.0% |
| Profit (loss) for the period before taxes | 9903 | €63,672 | €60,268 | -€3,404 | -5.3% |
| Income taxes | 67/77 | €17,536 | €16,374 | -€1,163 | -6.6% |
| Profit (loss) for the period | 9904 | €46,136 | €43,894 | -€2,242 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,136 | €43,894 | -€2,242 | -4.9% |
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 24 October 2026 via checked.be.