KPH2: 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.
KPH2
Largest movements
- Financial fixed assets -€522,940
down €522,940 (-40.2%), from €1.3m to €778,280
- Receivables within one year -€51,713
down €51,713 (-93.1%), from €55,539 to €3,826
of which Trade receivables: -€55,539
- Cash +€35,178
up €35,178 (+38.6%), from €91,203 to €126,381
mainly Net result for the year (+€1.1m) and Investment in fixed assets (net) (+€497,898)
- Profit (loss) carried forward -€334,161
down €334,161 (-100.0%), from €334,161 to €0
- Other debts -€287,988
down €287,988 (-36.7%), from €785,070 to €497,082
- Reserves +€127,446
up €127,446 (+50.6%), from €251,860 to €379,306
of which Distributable reserves: +€129,306
- Tax, wage and social debts -€50,821
down €50,821 (-85.0%), from €59,810 to €8,989
- Trade debts +€25,859
up €25,859 (+16368.6%), from €158 to €26,017
- Financial income +€502,512
up €502,512 (+106.6%), from €471,576 to €974,088
- Gross operating margin +€38,142
up €38,142 (+28.2%), from €135,222 to €173,364
- Taxes -€14,363
down €14,363 (-25.9%), from €55,537 to €41,174
- Depreciation -€4,719
down €4,719 (-30.5%), from €15,486 to €10,767
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 | €1,455,193 | €929,994 | -€525,200 | -36.1% |
| Fixed assets | 21/28 | €1,308,451 | €799,786 | -€508,665 | -38.9% |
| Tangible fixed assets | 22/27 | €7,231 | €21,506 | +€14,275 | +197.4% |
| Plant, machinery and equipment | 23 | €2,423 | €1,294 | -€1,128 | -46.6% |
| Furniture and vehicles | 24 | €94 | €20,212 | +€20,118 | +21468.8% |
| Leasing and similar rights | 25 | €4,715 | €0 | -€4,715 | -100.0% |
| Financial fixed assets | 28 | €1,301,220 | €778,280 | -€522,940 | -40.2% |
| Current assets | 29/58 | €146,742 | €130,207 | -€16,535 | -11.3% |
| Amounts receivable within one year | 40/41 | €55,539 | €3,826 | -€51,713 | -93.1% |
| Trade receivables | 40 | €55,539 | €0 | -€55,539 | -100.0% |
| Other amounts receivable | 41 | - | €3,826 | +€3,826 | |
| Cash at bank and in hand | 54/58 | €91,203 | €126,381 | +€35,178 | +38.6% |
| Total equity and liabilities | 10/49 | €1,455,193 | €929,994 | -€525,200 | -36.1% |
| Equity | 10/15 | €604,621 | €397,906 | -€206,715 | -34.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €251,860 | €379,306 | +€127,446 | +50.6% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €250,000 | €379,306 | +€129,306 | +51.7% |
| Profit (loss) carried forward | 14 | €334,161 | €0 | -€334,161 | -100.0% |
| Amounts payable | 17/49 | €850,573 | €532,088 | -€318,485 | -37.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €850,573 | €532,088 | -€318,485 | -37.4% |
| Current portion of amounts payable after more than one year | 42 | €5,535 | €0 | -€5,535 | -100.0% |
| Trade debts | 44 | €158 | €26,017 | +€25,859 | +16368.6% |
| Suppliers | 440/4 | €158 | €26,017 | +€25,859 | +16368.6% |
| Taxes, remuneration and social security | 45 | €59,810 | €8,989 | -€50,821 | -85.0% |
| Taxes | 450/3 | €59,810 | €8,989 | -€50,821 | -85.0% |
| Other amounts payable | 47/48 | €785,070 | €497,082 | -€287,988 | -36.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,486 | €10,767 | -€4,719 | -30.5% |
| Other operating charges | 640/8 | €968 | €2,105 | +€1,137 | +117.5% |
| Gross operating margin | 9900 | €135,222 | €173,364 | +€38,142 | +28.2% |
| Operating profit (loss) | 9901 | €118,768 | €160,492 | +€41,724 | +35.1% |
| Financial income | 75/76B | €471,576 | €974,088 | +€502,512 | +106.6% |
| Recurring financial income | 75 | €471,576 | €974,088 | +€502,512 | +106.6% |
| Financial charges | 65/66B | €430 | €121 | -€309 | -71.9% |
| Recurring financial charges | 65 | €430 | €121 | -€309 | -71.9% |
| Profit (loss) for the period before taxes | 9903 | €589,914 | €1,134,459 | +€544,545 | +92.3% |
| Income taxes | 67/77 | €55,537 | €41,174 | -€14,363 | -25.9% |
| Profit (loss) for the period | 9904 | €534,377 | €1,093,285 | +€558,908 | +104.6% |
| Profit (loss) for the period to be appropriated | 9905 | €534,377 | €1,093,285 | +€558,908 | +104.6% |
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 10 October 2026 via checked.be.