KPF: 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.
KPF
Largest movements
- Cash +€58,712
up €58,712 (+448.7%), from €13,085 to €71,797
mainly Depreciation (+€51,478) and Net result for the year (+€39,092)
- Tangible fixed assets -€43,320
down €43,320 (-22.0%), from €197,355 to €154,035
- Receivables within one year -€15,360
down €15,360 (-99.6%), from €15,426 to €66
of which Other amounts receivable: -€15,426
- Current investments -€8,900
down €8,900 (-24.2%), from €36,828 to €27,928
- Deferred charges and accrued income -€3,437
down €3,437 (-95.8%), from €3,589 to €152
- Debts after one year -€56,787
down €56,787 (-80.1%), from €70,858 to €14,070
- Other debts +€32,420
new in 2025: €32,420
- Reserves +€12,395
up €12,395 (+8.1%), from €153,409 to €165,804
- Tax, wage and social debts +€8,294
up €8,294 (+142.8%), from €5,809 to €14,103
of which Taxes: +€9,749
- Current portion of long-term debt -€7,327
down €7,327 (-22.3%), from €32,799 to €25,472
- Financial charges -€5,210
down €5,210 (-56.7%), from €9,188 to €3,978
- Taxes +€4,807
up €4,807 (+34.4%), from €13,961 to €18,768
- Staff costs -€4,512
down €4,512 (-3.9%), from €115,218 to €110,706
- Other operating charges -€3,899
down €3,899 (-75.0%), from €5,200 to €1,300
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 | €273,736 | €261,434 | -€12,302 | -4.5% |
| Fixed assets | 21/28 | €197,355 | €154,035 | -€43,320 | -22.0% |
| Tangible fixed assets | 22/27 | €197,355 | €154,035 | -€43,320 | -22.0% |
| Plant, machinery and equipment | 23 | €30,051 | €22,869 | -€7,182 | -23.9% |
| Furniture and vehicles | 24 | €11,037 | €5,899 | -€5,138 | -46.6% |
| Leasing and similar rights | 25 | €52,868 | €39,387 | -€13,480 | -25.5% |
| Other tangible fixed assets | 26 | €103,399 | €85,879 | -€17,520 | -16.9% |
| Current assets | 29/58 | €76,381 | €107,399 | +€31,018 | +40.6% |
| Stocks and contracts in progress | 3 | €7,453 | €7,456 | +€3 | 0.0% |
| Stocks | 30/36 | €7,453 | €7,456 | +€3 | 0.0% |
| Amounts receivable within one year | 40/41 | €15,426 | €66 | -€15,360 | -99.6% |
| Trade receivables | 40 | - | €66 | +€66 | |
| Other amounts receivable | 41 | €15,426 | - | -€15,426 | |
| Current investments | 50/53 | €36,828 | €27,928 | -€8,900 | -24.2% |
| Cash at bank and in hand | 54/58 | €13,085 | €71,797 | +€58,712 | +448.7% |
| Deferred charges and accrued income | 490/1 | €3,589 | €152 | -€3,437 | -95.8% |
| Total equity and liabilities | 10/49 | €273,736 | €261,434 | -€12,302 | -4.5% |
| Equity | 10/15 | €159,609 | €172,004 | +€12,395 | +7.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €153,409 | €165,804 | +€12,395 | +8.1% |
| Distributable reserves | 133 | €153,409 | €165,804 | +€12,395 | +8.1% |
| Amounts payable | 17/49 | €114,127 | €89,430 | -€24,697 | -21.6% |
| Amounts payable after more than one year | 17 | €70,858 | €14,070 | -€56,787 | -80.1% |
| Financial debts | 170/4 | €70,858 | €14,070 | -€56,787 | -80.1% |
| Amounts payable within one year | 42/48 | €43,270 | €74,219 | +€30,950 | +71.5% |
| Current portion of amounts payable after more than one year | 42 | €32,799 | €25,472 | -€7,327 | -22.3% |
| Trade debts | 44 | €4,662 | €2,224 | -€2,437 | -52.3% |
| Suppliers | 440/4 | €4,662 | €2,224 | -€2,437 | -52.3% |
| Taxes, remuneration and social security | 45 | €5,809 | €14,103 | +€8,294 | +142.8% |
| Taxes | 450/3 | €3,961 | €13,710 | +€9,749 | +246.1% |
| Remuneration and social security | 454/9 | €1,847 | €392 | -€1,455 | -78.8% |
| Other amounts payable | 47/48 | - | €32,420 | +€32,420 | |
| Accrued charges and deferred income | 492/3 | - | €1,140 | +€1,140 | |
| Non-recurring operating income | 76A | €56 | - | -€56 | |
| Remuneration, social security and pensions | 62 | €115,218 | €110,706 | -€4,512 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,089 | €51,478 | -€611 | -1.2% |
| Other operating charges | 640/8 | €5,200 | €1,300 | -€3,899 | -75.0% |
| Non-recurring operating charges | 66A | €1 | - | -€1 | |
| Gross operating margin | 9900 | €223,483 | €223,938 | +€455 | +0.2% |
| Operating profit (loss) | 9901 | €50,976 | €60,454 | +€9,478 | +18.6% |
| Financial income | 75/76B | €345 | €1,384 | +€1,039 | +301.2% |
| Recurring financial income | 75 | €345 | €1,384 | +€1,039 | +301.2% |
| Financial charges | 65/66B | €9,188 | €3,978 | -€5,210 | -56.7% |
| Recurring financial charges | 65 | €9,188 | €3,978 | -€5,210 | -56.7% |
| Profit (loss) for the period before taxes | 9903 | €42,132 | €57,860 | +€15,728 | +37.3% |
| Income taxes | 67/77 | €13,961 | €18,768 | +€4,807 | +34.4% |
| Profit (loss) for the period | 9904 | €28,171 | €39,092 | +€10,921 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,171 | €39,092 | +€10,921 | +38.8% |
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 7 October 2026 via checked.be.