KSGP: what changed
KSGP
Largest movements
- Receivables within one year -€25,052
down €25,052 (-31.1%), from €80,668 to €55,616
of which Other amounts receivable: -€13,018
- Cash +€2,873
up €2,873 (+280%), from €1,026 to €3,899
mainly Receivables within one year (+€25,052) and Net result for the year (+€16,464)
- Other debts -€22,419
down €22,419 (-98.0%), from €22,865 to €446
- Trade debts -€17,271
down €17,271 (-52.7%), from €32,741 to €15,470
- Profit (loss) carried forward +€16,464
up €16,464 (+159%), from €10,333 to €26,797
- Advances received +€5,050
new in 2025: €5,050
- Tax, wage and social debts -€4,417
down €4,417 (-45.3%), from €9,753 to €5,337
- Gross operating margin +€7,393
up €7,393 (+73.3%), from €10,085 to €17,478
- Taxes -€6,618
no longer reported in 2025 (was €6,618)
- Other operating charges -€648
down €648 (-25.7%), from €2,520 to €1,872
- Financial income +€612
up €612 (+57.0%), from €1,074 to €1,687
- Depreciation +€345
up €345 (+508%), from €68 to €413
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €83,752 | €61,160 | -€22,592 | -27.0% |
| Fixed assets | 21/28 | €2,059 | €1,645 | -€413 | -20.1% |
| Tangible fixed assets | 22/27 | €759 | €345 | -€413 | -54.5% |
| Furniture and vehicles | 24 | €759 | €345 | -€413 | -54.5% |
| Financial fixed assets | 28 | €1,300 | €1,300 | = | 0.0% |
| Current assets | 29/58 | €81,693 | €59,515 | -€22,179 | -27.1% |
| Amounts receivable within one year | 40/41 | €80,668 | €55,616 | -€25,052 | -31.1% |
| Trade receivables | 40 | €32,887 | €20,853 | -€12,034 | -36.6% |
| Other amounts receivable | 41 | €47,781 | €34,763 | -€13,018 | -27.2% |
| Cash at bank and in hand | 54/58 | €1,026 | €3,899 | +€2,873 | +280% |
| Total equity and liabilities | 10/49 | €83,752 | €61,160 | -€22,592 | -27.0% |
| Equity | 10/15 | €18,393 | €34,857 | +€16,464 | +89.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,333 | €26,797 | +€16,464 | +159% |
| Amounts payable | 17/49 | €65,359 | €26,303 | -€39,056 | -59.8% |
| Amounts payable within one year | 42/48 | €65,359 | €26,303 | -€39,056 | -59.8% |
| Trade debts | 44 | €32,741 | €15,470 | -€17,271 | -52.7% |
| Suppliers | 440/4 | €32,741 | €15,470 | -€17,271 | -52.7% |
| Advances received on contracts in progress | 46 | - | €5,050 | +€5,050 | |
| Taxes, remuneration and social security | 45 | €9,753 | €5,337 | -€4,417 | -45.3% |
| Taxes | 450/3 | €9,753 | €5,337 | -€4,417 | -45.3% |
| Other amounts payable | 47/48 | €22,865 | €446 | -€22,419 | -98.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68 | €413 | +€345 | +508% |
| Other operating charges | 640/8 | €2,520 | €1,872 | -€648 | -25.7% |
| Gross operating margin | 9900 | €10,085 | €17,478 | +€7,393 | +73.3% |
| Operating profit (loss) | 9901 | €7,497 | €15,192 | +€7,695 | +103% |
| Financial income | 75/76B | €1,074 | €1,687 | +€612 | +57.0% |
| Recurring financial income | 75 | €1,074 | €1,687 | +€612 | +57.0% |
| Financial charges | 65/66B | €561 | €415 | -€146 | -26.0% |
| Recurring financial charges | 65 | €561 | €415 | -€146 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €8,011 | €16,464 | +€8,453 | +106% |
| Income taxes | 67/77 | €6,618 | - | -€6,618 | |
| Profit (loss) for the period | 9904 | €1,393 | €16,464 | +€15,071 | +1,082% |
| Profit (loss) for the period to be appropriated | 9905 | €1,393 | €16,464 | +€15,071 | +1,082% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.