KSF: 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.
KSF
Largest movements
- Receivables within one year -€7,924
down €7,924 (-48.9%), from €16,221 to €8,297
of which Trade receivables: -€12,100
- Cash -€5,901
down €5,901 (-19.3%), from €30,639 to €24,738
mainly Tax, wage and social debts (-€11,783) and Trade debts (-€5,579)
- Tangible fixed assets -€1,347
down €1,347 (-71.1%), from €1,896 to €549
- Intangible fixed assets +€825
new in 2025: €825
- Tax, wage and social debts -€11,783
down €11,783 (-51.1%), from €23,049 to €11,266
of which Remuneration and social security: -€10,101
- Trade debts -€5,579
down €5,579 (-65.3%), from €8,544 to €2,965
- Profit (loss) carried forward +€2,592
up €2,592 (+13.3%), from -€19,472 to -€16,880
- Gross operating margin +€4,726
up €4,726 (+6.3%), from €74,870 to €79,596
- Other operating charges +€1,782
up €1,782 (+122%), from €1,467 to €3,249
- Staff costs +€1,156
up €1,156 (+1.6%), from €70,932 to €72,088
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 | €50,102 | €35,342 | -€14,760 | -29.5% |
| Fixed assets | 21/28 | €1,896 | €1,374 | -€523 | -27.6% |
| Intangible fixed assets | 21 | - | €825 | +€825 | |
| Tangible fixed assets | 22/27 | €1,896 | €549 | -€1,347 | -71.1% |
| Plant, machinery and equipment | 23 | €1,896 | €549 | -€1,347 | -71.1% |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €48,205 | €33,968 | -€14,237 | -29.5% |
| Stocks and contracts in progress | 3 | €1,345 | €933 | -€412 | -30.6% |
| Stocks | 30/36 | €1,345 | €933 | -€412 | -30.6% |
| Amounts receivable within one year | 40/41 | €16,221 | €8,297 | -€7,924 | -48.9% |
| Trade receivables | 40 | €12,100 | €0 | -€12,100 | -100% |
| Other amounts receivable | 41 | €4,121 | €8,297 | +€4,176 | +101% |
| Cash at bank and in hand | 54/58 | €30,639 | €24,738 | -€5,901 | -19.3% |
| Total equity and liabilities | 10/49 | €50,102 | €35,342 | -€14,760 | -29.5% |
| Equity | 10/15 | -€2,507 | €85 | +€2,592 | |
| Contributions | 10/11 | €16,965 | €16,965 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,472 | -€16,880 | +€2,592 | +13.3% |
| Amounts payable | 17/49 | €52,609 | €35,257 | -€17,352 | -33.0% |
| Amounts payable within one year | 42/48 | €52,609 | €35,257 | -€17,352 | -33.0% |
| Trade debts | 44 | €8,544 | €2,965 | -€5,579 | -65.3% |
| Suppliers | 440/4 | €8,544 | €2,965 | -€5,579 | -65.3% |
| Taxes, remuneration and social security | 45 | €23,049 | €11,266 | -€11,783 | -51.1% |
| Taxes | 450/3 | €1,973 | €292 | -€1,682 | -85.2% |
| Remuneration and social security | 454/9 | €21,075 | €10,974 | -€10,101 | -47.9% |
| Other amounts payable | 47/48 | €21,016 | €21,026 | +€10 | 0.0% |
| Remuneration, social security and pensions | 62 | €70,932 | €72,088 | +€1,156 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €809 | €523 | -€287 | -35.4% |
| Other operating charges | 640/8 | €1,467 | €3,249 | +€1,782 | +122% |
| Gross operating margin | 9900 | €74,870 | €79,596 | +€4,726 | +6.3% |
| Operating profit (loss) | 9901 | €1,662 | €3,736 | +€2,074 | +125% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €913 | €1,145 | +€232 | +25.4% |
| Recurring financial charges | 65 | €913 | €1,145 | +€232 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | €749 | €2,592 | +€1,843 | +246% |
| Profit (loss) for the period | 9904 | €749 | €2,592 | +€1,843 | +246% |
| Profit (loss) for the period to be appropriated | 9905 | €749 | €2,592 | +€1,843 | +246% |
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 15 October 2026 via checked.be.