KILDA: 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.
KILDA
Largest movements
- Tangible fixed assets +€310,226
up €310,226 (+401.6%), from €77,254 to €387,480
of which Assets under construction and advance payments: +€225,061
- Cash -€146,896
down €146,896 (-58.9%), from €249,283 to €102,387
mainly Investment in fixed assets (net) (-€343,984) and Contributions, distributions and other (-€100,000)
- Current investments +€88,000
up €88,000 (+110.0%), from €80,000 to €168,000
- Receivables within one year +€10,176
up €10,176 (+202.7%), from €5,021 to €15,197
of which Trade receivables: +€8,133
- Debts after one year +€335,818
up €335,818 (+769.0%), from €43,668 to €379,486
- Reserves -€99,845
down €99,845 (-35.9%), from €277,945 to €178,100
- Other debts +€67,918
up €67,918 (+211.7%), from €32,082 to €100,000
- Tax, wage and social debts -€36,933
no longer reported in 2025 (was €36,933)
- Gross operating margin -€96,310
down €96,310 (-68.2%), from €141,281 to €44,971
- Taxes -€29,355
down €29,355 (-97.7%), from €30,059 to €704
- Depreciation +€20,599
up €20,599 (+156.5%), from €13,159 to €33,758
- Financial income -€13,882
down €13,882 (-94.8%), from €14,643 to €761
- Financial charges +€7,525
up €7,525 (+423.5%), from €1,777 to €9,302
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 | €411,558 | €673,065 | +€261,507 | +63.5% |
| Fixed assets | 21/28 | €77,254 | €387,480 | +€310,226 | +401.6% |
| Tangible fixed assets | 22/27 | €77,254 | €387,480 | +€310,226 | +401.6% |
| Land and buildings | 22 | - | €101,884 | +€101,884 | |
| Furniture and vehicles | 24 | €62,920 | €47,891 | -€15,029 | -23.9% |
| Other tangible fixed assets | 26 | €14,334 | €12,645 | -€1,689 | -11.8% |
| Assets under construction and advance payments | 27 | - | €225,061 | +€225,061 | |
| Current assets | 29/58 | €334,304 | €285,585 | -€48,719 | -14.6% |
| Amounts receivable within one year | 40/41 | €5,021 | €15,197 | +€10,176 | +202.7% |
| Trade receivables | 40 | - | €8,133 | +€8,133 | |
| Other amounts receivable | 41 | €5,021 | €7,065 | +€2,044 | +40.7% |
| Current investments | 50/53 | €80,000 | €168,000 | +€88,000 | +110.0% |
| Cash at bank and in hand | 54/58 | €249,283 | €102,387 | -€146,896 | -58.9% |
| Total equity and liabilities | 10/49 | €411,558 | €673,065 | +€261,507 | +63.5% |
| Equity | 10/15 | €278,945 | €179,100 | -€99,845 | -35.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €277,945 | €178,100 | -€99,845 | -35.9% |
| Distributable reserves | 133 | €277,945 | €178,100 | -€99,845 | -35.9% |
| Amounts payable | 17/49 | €132,613 | €493,965 | +€361,352 | +272.5% |
| Amounts payable after more than one year | 17 | €43,668 | €379,486 | +€335,818 | +769.0% |
| Financial debts | 170/4 | €43,668 | €379,486 | +€335,818 | +769.0% |
| Amounts payable within one year | 42/48 | €88,945 | €114,479 | +€25,533 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €12,367 | €12,855 | +€489 | +4.0% |
| Trade debts | 44 | €7,564 | €1,623 | -€5,941 | -78.5% |
| Suppliers | 440/4 | €7,564 | €1,623 | -€5,941 | -78.5% |
| Taxes, remuneration and social security | 45 | €36,933 | - | -€36,933 | |
| Taxes | 450/3 | €36,933 | - | -€36,933 | |
| Other amounts payable | 47/48 | €32,082 | €100,000 | +€67,918 | +211.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,159 | €33,758 | +€20,599 | +156.5% |
| Other operating charges | 640/8 | €848 | €1,812 | +€964 | +113.8% |
| Gross operating margin | 9900 | €141,281 | €44,971 | -€96,310 | -68.2% |
| Operating profit (loss) | 9901 | €127,274 | €9,401 | -€117,873 | -92.6% |
| Financial income | 75/76B | €14,643 | €761 | -€13,882 | -94.8% |
| Recurring financial income | 75 | €14,643 | €761 | -€13,882 | -94.8% |
| Financial charges | 65/66B | €1,777 | €9,302 | +€7,525 | +423.5% |
| Recurring financial charges | 65 | €1,777 | €9,302 | +€7,525 | +423.5% |
| Profit (loss) for the period before taxes | 9903 | €140,140 | €859 | -€139,281 | -99.4% |
| Income taxes | 67/77 | €30,059 | €704 | -€29,355 | -97.7% |
| Profit (loss) for the period | 9904 | €110,081 | €155 | -€109,926 | -99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €110,081 | €155 | -€109,926 | -99.9% |
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 4 October 2026 via checked.be.