KKLT: 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.
KKLT
Largest movements
- Receivables within one year -€113,714
down €113,714 (-24.9%), from €456,397 to €342,683
of which Trade receivables: -€363,100
- Other debts +€362,056
up €362,056 (+41.7%), from €868,365 to €1.2m
- Profit (loss) carried forward -€348,383
down €348,383 (-39.4%), from €883,801 to €535,418
- Current portion of long-term debt -€146,698
no longer reported in 2025 (was €146,698)
- Tax, wage and social debts +€41,408
up €41,408 (+118%), from €35,150 to €76,559
of which Taxes: +€37,668
- Staff costs +€69,617
up €69,617 (+99.7%), from €69,816 to €139,434
- Gross operating margin -€34,689
down €34,689 (-8.3%), from €417,712 to €383,023
- Taxes -€17,578
down €17,578 (-23.2%), from €75,636 to €58,059
- Financial income +€9,198
up €9,198 (+320%), from €2,872 to €12,071
- Financial charges -€6,469
down €6,469 (-12.8%), from €50,653 to €44,185
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 | €2,167,392 | €2,071,414 | -€95,978 | -4.4% |
| Fixed assets | 21/28 | €1,690,137 | €1,689,703 | -€433 | 0.0% |
| Tangible fixed assets | 22/27 | €3,439 | €3,006 | -€433 | -12.6% |
| Other tangible fixed assets | 26 | €3,439 | €3,006 | -€433 | -12.6% |
| Financial fixed assets | 28 | €1,686,698 | €1,686,698 | = | 0.0% |
| Current assets | 29/58 | €477,256 | €381,711 | -€95,545 | -20.0% |
| Amounts receivable within one year | 40/41 | €456,397 | €342,683 | -€113,714 | -24.9% |
| Trade receivables | 40 | €370,927 | €7,827 | -€363,100 | -97.9% |
| Other amounts receivable | 41 | €85,470 | €334,856 | +€249,387 | +292% |
| Cash at bank and in hand | 54/58 | €20,336 | €35,549 | +€15,213 | +74.8% |
| Deferred charges and accrued income | 490/1 | €523 | €3,479 | +€2,956 | +565% |
| Total equity and liabilities | 10/49 | €2,167,392 | €2,071,414 | -€95,978 | -4.4% |
| Equity | 10/15 | €930,051 | €581,668 | -€348,383 | -37.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €21,250 | €21,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €883,801 | €535,418 | -€348,383 | -39.4% |
| Amounts payable | 17/49 | €1,237,341 | €1,489,747 | +€252,406 | +20.4% |
| Amounts payable after more than one year | 17 | €121,350 | €121,350 | = | 0.0% |
| Other amounts payable | 178/9 | €121,350 | €121,350 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,115,991 | €1,368,397 | +€252,406 | +22.6% |
| Current portion of amounts payable after more than one year | 42 | €146,698 | - | -€146,698 | |
| Financial debts | 43 | €57,804 | €36,655 | -€21,149 | -36.6% |
| Credit institutions | 430/8 | €57,804 | €36,655 | -€21,149 | -36.6% |
| Trade debts | 44 | €7,973 | €24,762 | +€16,788 | +211% |
| Suppliers | 440/4 | €7,973 | €24,762 | +€16,788 | +211% |
| Taxes, remuneration and social security | 45 | €35,150 | €76,559 | +€41,408 | +118% |
| Taxes | 450/3 | €19,704 | €57,371 | +€37,668 | +191% |
| Remuneration and social security | 454/9 | €15,447 | €19,187 | +€3,741 | +24.2% |
| Other amounts payable | 47/48 | €868,365 | €1,230,421 | +€362,056 | +41.7% |
| Remuneration, social security and pensions | 62 | €69,816 | €139,434 | +€69,617 | +99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €765 | €433 | -€332 | -43.4% |
| Other operating charges | 640/8 | €1,434 | €1,367 | -€67 | -4.7% |
| Gross operating margin | 9900 | €417,712 | €383,023 | -€34,689 | -8.3% |
| Operating profit (loss) | 9901 | €345,698 | €241,789 | -€103,908 | -30.1% |
| Financial income | 75/76B | €2,872 | €12,071 | +€9,198 | +320% |
| Recurring financial income | 75 | €2,872 | €12,071 | +€9,198 | +320% |
| Financial charges | 65/66B | €50,653 | €44,185 | -€6,469 | -12.8% |
| Recurring financial charges | 65 | €50,653 | €44,185 | -€6,469 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €297,916 | €209,675 | -€88,241 | -29.6% |
| Income taxes | 67/77 | €75,636 | €58,059 | -€17,578 | -23.2% |
| Profit (loss) for the period | 9904 | €222,280 | €151,617 | -€70,663 | -31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €222,280 | €151,617 | -€70,663 | -31.8% |
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 13 October 2026 via checked.be.