KSG Project: 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 Project
Largest movements
- Receivables within one year +€14,477
up €14,477 (+4,393%), from €330 to €14,807
of which Trade receivables: +€14,343
- Cash +€2,272
up €2,272 (+5,168%), from €44 to €2,316
mainly Net result for the year (+€14,152) and Trade debts (+€7,522)
- Tangible fixed assets -€281
no longer reported in 2025 (was €281)
- Deferred charges and accrued income -€236
down €236 (-71.8%), from €329 to €93
- Profit (loss) carried forward +€14,152
up €14,152, from -€5,986 to €8,167
- Trade debts +€7,522
up €7,522 (+1,199%), from €627 to €8,150
- Tax, wage and social debts -€5,113
no longer reported in 2025 (was €5,113)
- Other debts -€329
no longer reported in 2025 (was €329)
- Gross operating margin +€35,914
up €35,914, from -€19,938 to €15,976
- Other operating charges -€1,983
down €1,983 (-78.4%), from €2,530 to €547
- Financial charges +€884
up €884 (+795%), from €111 to €996
- Depreciation -€723
down €723 (-72.0%), from €1,004 to €281
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 | €1,083 | €17,316 | +€16,233 | +1,498% |
| Fixed assets | 21/28 | €381 | €100 | -€281 | -73.7% |
| Tangible fixed assets | 22/27 | €281 | - | -€281 | |
| Furniture and vehicles | 24 | €281 | - | -€281 | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €703 | €17,216 | +€16,513 | +2,350% |
| Amounts receivable within one year | 40/41 | €330 | €14,807 | +€14,477 | +4,393% |
| Trade receivables | 40 | - | €14,343 | +€14,343 | |
| Other amounts receivable | 41 | €330 | €464 | +€135 | +40.8% |
| Cash at bank and in hand | 54/58 | €44 | €2,316 | +€2,272 | +5,168% |
| Deferred charges and accrued income | 490/1 | €329 | €93 | -€236 | -71.8% |
| Total equity and liabilities | 10/49 | €1,083 | €17,316 | +€16,233 | +1,498% |
| Equity | 10/15 | -€4,986 | €9,167 | +€14,152 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,986 | €8,167 | +€14,152 | |
| Amounts payable | 17/49 | €6,069 | €8,150 | +€2,080 | +34.3% |
| Amounts payable within one year | 42/48 | €6,069 | €8,150 | +€2,080 | +34.3% |
| Trade debts | 44 | €627 | €8,150 | +€7,522 | +1,199% |
| Suppliers | 440/4 | €627 | €8,150 | +€7,522 | +1,199% |
| Taxes, remuneration and social security | 45 | €5,113 | - | -€5,113 | |
| Taxes | 450/3 | €5,113 | - | -€5,113 | |
| Other amounts payable | 47/48 | €329 | - | -€329 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,004 | €281 | -€723 | -72.0% |
| Other operating charges | 640/8 | €2,530 | €547 | -€1,983 | -78.4% |
| Gross operating margin | 9900 | -€19,938 | €15,976 | +€35,914 | |
| Operating profit (loss) | 9901 | -€23,472 | €15,148 | +€38,620 | |
| Financial charges | 65/66B | €111 | €996 | +€884 | +795% |
| Recurring financial charges | 65 | €111 | €996 | +€884 | +795% |
| Profit (loss) for the period before taxes | 9903 | -€23,583 | €14,152 | +€37,735 | |
| Profit (loss) for the period | 9904 | -€23,583 | €14,152 | +€37,735 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,583 | €14,152 | +€37,735 |
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 23 October 2026 via checked.be.