KSO: 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.
KSO
Largest movements
- Tangible fixed assets +€186,869
up €186,869 (+2182.5%), from €8,562 to €195,431
of which Land and buildings: +€169,035
- Current investments -€50,000
down €50,000 (-16.7%), from €300,000 to €250,000
- Cash +€47,631
up €47,631 (+23.9%), from €199,089 to €246,720
mainly Debts after one year (+€87,007) and Current investments (+€50,000)
- Receivables within one year +€22,814
up €22,814 (+386.0%), from €5,910 to €28,724
of which Other amounts receivable: +€16,866
- Debts after one year +€87,007
new in 2025: €87,007
- Trade debts +€48,258
up €48,258 (+335.8%), from €14,369 to €62,627
- Reserves +€16,658
up €16,658 (+4.4%), from €379,734 to €396,392
of which Distributable reserves: +€21,858
- Tax, wage and social debts +€16,121
up €16,121 (+177.6%), from €9,077 to €25,197
- Short-term financial debts +€14,988
up €14,988 (+1104.0%), from €1,358 to €16,346
- Gross operating margin -€101,832
down €101,832 (-58.4%), from €174,463 to €72,631
- Depreciation +€35,914
up €35,914 (+2105.7%), from €1,706 to €37,620
- Financial charges -€34,777
down €34,777 (-87.2%), from €39,896 to €5,119
- Taxes -€32,972
down €32,972 (-90.1%), from €36,589 to €3,617
- Financial income +€5,287
up €5,287 (+9493.9%), from €56 to €5,343
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 | €513,561 | €720,875 | +€207,314 | +40.4% |
| Fixed assets | 21/28 | €8,562 | €195,431 | +€186,869 | +2182.5% |
| Tangible fixed assets | 22/27 | €8,562 | €195,431 | +€186,869 | +2182.5% |
| Land and buildings | 22 | - | €169,035 | +€169,035 | |
| Plant, machinery and equipment | 23 | €1,739 | €21,722 | +€19,983 | +1149.0% |
| Furniture and vehicles | 24 | €6,823 | €4,674 | -€2,149 | -31.5% |
| Current assets | 29/58 | €504,998 | €525,444 | +€20,445 | +4.0% |
| Amounts receivable within one year | 40/41 | €5,910 | €28,724 | +€22,814 | +386.0% |
| Trade receivables | 40 | €5,910 | €11,858 | +€5,948 | +100.7% |
| Other amounts receivable | 41 | €0 | €16,866 | +€16,866 | |
| Current investments | 50/53 | €300,000 | €250,000 | -€50,000 | -16.7% |
| Cash at bank and in hand | 54/58 | €199,089 | €246,720 | +€47,631 | +23.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €513,561 | €720,875 | +€207,314 | +40.4% |
| Equity | 10/15 | €428,134 | €444,792 | +€16,658 | +3.9% |
| Contributions | 10/11 | €48,400 | €48,400 | = | 0.0% |
| Reserves | 13 | €379,734 | €396,392 | +€16,658 | +4.4% |
| Non-distributable reserves | 130/1 | €5,200 | €0 | -€5,200 | -100.0% |
| Reserves not available under the articles | 1311 | €5,200 | €0 | -€5,200 | -100.0% |
| Distributable reserves | 133 | €374,534 | €396,392 | +€21,858 | +5.8% |
| Amounts payable | 17/49 | €85,427 | €276,083 | +€190,656 | +223.2% |
| Amounts payable after more than one year | 17 | - | €87,007 | +€87,007 | |
| Financial debts | 170/4 | - | €87,007 | +€87,007 | |
| Amounts payable within one year | 42/48 | €83,685 | €184,403 | +€100,718 | +120.4% |
| Current portion of amounts payable after more than one year | 42 | - | €12,993 | +€12,993 | |
| Financial debts | 43 | €1,358 | €16,346 | +€14,988 | +1104.0% |
| Credit institutions | 430/8 | €1,358 | €16,346 | +€14,988 | +1104.0% |
| Trade debts | 44 | €14,369 | €62,627 | +€48,258 | +335.8% |
| Suppliers | 440/4 | €14,369 | €62,627 | +€48,258 | +335.8% |
| Taxes, remuneration and social security | 45 | €9,077 | €25,197 | +€16,121 | +177.6% |
| Taxes | 450/3 | €9,077 | €25,197 | +€16,121 | +177.6% |
| Other amounts payable | 47/48 | €58,882 | €67,241 | +€8,359 | +14.2% |
| Accrued charges and deferred income | 492/3 | €1,742 | €4,673 | +€2,931 | +168.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,706 | €37,620 | +€35,914 | +2105.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,249 | +€3,249 | |
| Other operating charges | 640/8 | €13,803 | €11,711 | -€2,092 | -15.2% |
| Gross operating margin | 9900 | €174,463 | €72,631 | -€101,832 | -58.4% |
| Operating profit (loss) | 9901 | €158,954 | €20,051 | -€138,903 | -87.4% |
| Financial income | 75/76B | €56 | €5,343 | +€5,287 | +9493.9% |
| Recurring financial income | 75 | €56 | €5,343 | +€5,287 | +9493.9% |
| Financial charges | 65/66B | €39,896 | €5,119 | -€34,777 | -87.2% |
| Recurring financial charges | 65 | €39,896 | €5,119 | -€34,777 | -87.2% |
| Profit (loss) for the period before taxes | 9903 | €119,114 | €20,275 | -€98,839 | -83.0% |
| Income taxes | 67/77 | €36,589 | €3,617 | -€32,972 | -90.1% |
| Profit (loss) for the period | 9904 | €82,524 | €16,658 | -€65,866 | -79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €82,524 | €16,658 | -€65,866 | -79.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.