KSG: 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.
KSG
Largest movements
- Receivables within one year -€30,010
down €30,010 (-79.3%), from €37,833 to €7,823
of which Trade receivables: -€15,590
- Cash +€27,088
up €27,088 (+296.5%), from €9,135 to €36,223
mainly Receivables within one year (+€30,010) and Net result for the year (+€20,790)
- Deferred charges and accrued income +€1,823
up €1,823 (+1005.8%), from €181 to €2,004
- Reserves -€25,000
down €25,000 (-64.6%), from €38,715 to €13,715
- Profit (loss) carried forward +€20,790
new in 2025: €20,790
- Short-term financial debts +€2,778
new in 2025: €2,778
- Tax, wage and social debts +€2,661
up €2,661 (+33.5%), from €7,954 to €10,615
- Trade debts -€2,024
down €2,024 (-31.8%), from €6,356 to €4,332
- Gross operating margin +€6,231
up €6,231 (+20.0%), from €31,167 to €37,398
- Taxes +€2,541
up €2,541 (+26.8%), from €9,475 to €12,016
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 | €55,525 | €54,731 | -€795 | -1.4% |
| Fixed assets | 21/28 | €8,376 | €8,681 | +€305 | +3.6% |
| Tangible fixed assets | 22/27 | €8,376 | €8,681 | +€305 | +3.6% |
| Plant, machinery and equipment | 23 | €2,173 | €5,169 | +€2,996 | +137.9% |
| Furniture and vehicles | 24 | €6,203 | €3,511 | -€2,692 | -43.4% |
| Current assets | 29/58 | €47,149 | €46,050 | -€1,099 | -2.3% |
| Amounts receivable within one year | 40/41 | €37,833 | €7,823 | -€30,010 | -79.3% |
| Trade receivables | 40 | €16,093 | €503 | -€15,590 | -96.9% |
| Other amounts receivable | 41 | €21,740 | €7,319 | -€14,420 | -66.3% |
| Cash at bank and in hand | 54/58 | €9,135 | €36,223 | +€27,088 | +296.5% |
| Deferred charges and accrued income | 490/1 | €181 | €2,004 | +€1,823 | +1005.8% |
| Total equity and liabilities | 10/49 | €55,525 | €54,731 | -€795 | -1.4% |
| Equity | 10/15 | €41,215 | €37,005 | -€4,210 | -10.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €38,715 | €13,715 | -€25,000 | -64.6% |
| Distributable reserves | 133 | €38,715 | €13,715 | -€25,000 | -64.6% |
| Profit (loss) carried forward | 14 | - | €20,790 | +€20,790 | |
| Amounts payable | 17/49 | €14,310 | €17,725 | +€3,415 | +23.9% |
| Amounts payable within one year | 42/48 | €14,310 | €17,725 | +€3,415 | +23.9% |
| Financial debts | 43 | - | €2,778 | +€2,778 | |
| Credit institutions | 430/8 | - | €2,778 | +€2,778 | |
| Trade debts | 44 | €6,356 | €4,332 | -€2,024 | -31.8% |
| Suppliers | 440/4 | €6,356 | €4,332 | -€2,024 | -31.8% |
| Taxes, remuneration and social security | 45 | €7,954 | €10,615 | +€2,661 | +33.5% |
| Taxes | 450/3 | €7,954 | €10,615 | +€2,661 | +33.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,132 | €3,446 | +€313 | +10.0% |
| Other operating charges | 640/8 | €862 | €623 | -€239 | -27.7% |
| Gross operating margin | 9900 | €31,167 | €37,398 | +€6,231 | +20.0% |
| Operating profit (loss) | 9901 | €27,173 | €33,329 | +€6,156 | +22.7% |
| Financial income | 75/76B | €87 | €90 | +€3 | +3.4% |
| Recurring financial income | 75 | €87 | €90 | +€3 | +3.4% |
| Financial charges | 65/66B | €865 | €613 | -€252 | -29.1% |
| Recurring financial charges | 65 | €865 | €613 | -€252 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €26,395 | €32,806 | +€6,411 | +24.3% |
| Income taxes | 67/77 | €9,475 | €12,016 | +€2,541 | +26.8% |
| Profit (loss) for the period | 9904 | €16,921 | €20,790 | +€3,869 | +22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,921 | €20,790 | +€3,869 | +22.9% |
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 12 October 2026 via checked.be.