KP&G: 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.
KP&G
Largest movements
- Cash +€737,562
up €737,562 (+70.2%), from €1.1m to €1.8m
mainly Current investments (+€600,000) and Net result for the year (+€402,145)
- Current investments -€600,000
no longer reported in 2025 (was €600,000)
- Stocks and contracts +€568,206
new in 2025: €568,206
- Receivables within one year -€230,292
down €230,292 (-50.5%), from €456,127 to €225,835
of which Trade receivables: -€313,456
- Tangible fixed assets -€51,560
down €51,560 (-6.5%), from €790,896 to €739,336
- Reserves +€402,145
up €402,145 (+18.8%), from €2.1m to €2.5m
of which Distributable reserves: +€402,145
- Trade debts +€65,057
up €65,057 (+16.9%), from €385,236 to €450,293
- Debts after one year -€62,876
down €62,876 (-28.0%), from €224,546 to €161,670
- Gross operating margin +€35,334
up €35,334 (+5.2%), from €678,305 to €713,639
- Taxes +€10,004
up €10,004 (+5.7%), from €174,295 to €184,299
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 | €2,897,043 | €3,320,958 | +€423,916 | +14.6% |
| Fixed assets | 21/28 | €790,896 | €739,336 | -€51,560 | -6.5% |
| Tangible fixed assets | 22/27 | €790,896 | €739,336 | -€51,560 | -6.5% |
| Land and buildings | 22 | €697,271 | €672,931 | -€24,340 | -3.5% |
| Plant, machinery and equipment | 23 | €31,901 | €26,678 | -€5,223 | -16.4% |
| Furniture and vehicles | 24 | €61,724 | €39,726 | -€21,997 | -35.6% |
| Current assets | 29/58 | €2,106,147 | €2,581,623 | +€475,476 | +22.6% |
| Stocks and contracts in progress | 3 | - | €568,206 | +€568,206 | |
| Stocks | 30/36 | - | €568,206 | +€568,206 | |
| Amounts receivable within one year | 40/41 | €456,127 | €225,835 | -€230,292 | -50.5% |
| Trade receivables | 40 | €362,307 | €48,851 | -€313,456 | -86.5% |
| Other amounts receivable | 41 | €93,820 | €176,984 | +€83,164 | +88.6% |
| Current investments | 50/53 | €600,000 | - | -€600,000 | |
| Cash at bank and in hand | 54/58 | €1,050,020 | €1,787,582 | +€737,562 | +70.2% |
| Total equity and liabilities | 10/49 | €2,897,043 | €3,320,958 | +€423,916 | +14.6% |
| Equity | 10/15 | €2,154,219 | €2,556,364 | +€402,145 | +18.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,135,619 | €2,537,764 | +€402,145 | +18.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €2,096,259 | €2,498,404 | +€402,145 | +19.2% |
| Amounts payable | 17/49 | €742,824 | €764,594 | +€21,770 | +2.9% |
| Amounts payable after more than one year | 17 | €224,546 | €161,670 | -€62,876 | -28.0% |
| Financial debts | 170/4 | €224,546 | €161,670 | -€62,876 | -28.0% |
| Amounts payable within one year | 42/48 | €518,277 | €602,924 | +€84,646 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €61,667 | €62,876 | +€1,209 | +2.0% |
| Trade debts | 44 | €385,236 | €450,293 | +€65,057 | +16.9% |
| Suppliers | 440/4 | €385,236 | €450,293 | +€65,057 | +16.9% |
| Taxes, remuneration and social security | 45 | €23,435 | €51,637 | +€28,202 | +120% |
| Taxes | 450/3 | €5,833 | €38,021 | +€32,188 | +552% |
| Remuneration and social security | 454/9 | €17,602 | €13,615 | -€3,986 | -22.6% |
| Other amounts payable | 47/48 | €47,939 | €38,118 | -€9,821 | -20.5% |
| Non-recurring operating income | 76A | €587 | - | -€587 | |
| Remuneration, social security and pensions | 62 | €63,494 | €65,846 | +€2,352 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,313 | €55,801 | -€512 | -0.9% |
| Other operating charges | 640/8 | €5,329 | €4,309 | -€1,020 | -19.1% |
| Non-recurring operating charges | 66A | €1,267 | €1,000 | -€267 | -21.1% |
| Gross operating margin | 9900 | €678,305 | €713,639 | +€35,334 | +5.2% |
| Operating profit (loss) | 9901 | €551,902 | €586,684 | +€34,782 | +6.3% |
| Financial income | 75/76B | €8,270 | €4,750 | -€3,520 | -42.6% |
| Recurring financial income | 75 | €8,270 | €4,750 | -€3,520 | -42.6% |
| Financial charges | 65/66B | €6,172 | €4,991 | -€1,181 | -19.1% |
| Recurring financial charges | 65 | €6,172 | €4,991 | -€1,181 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €554,001 | €586,444 | +€32,443 | +5.9% |
| Income taxes | 67/77 | €174,295 | €184,299 | +€10,004 | +5.7% |
| Profit (loss) for the period | 9904 | €379,706 | €402,145 | +€22,439 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €379,706 | €402,145 | +€22,439 | +5.9% |
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 25 October 2026 via checked.be.