KTH MANAGEMENT: what changed
Two fiscal 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.
KTH MANAGEMENT
Largest movements
- Current investments -€28,000
down €28,000 (-60.9%), from €46,000 to €18,000
- Cash +€23,245
up €23,245 (+21.4%), from €108,719 to €131,965
mainly Net result for the year (+€134,581) and Current investments (+€28,000)
- Tangible fixed assets -€4,459
down €4,459 (-71.1%), from €6,270 to €1,810
- Tax, wage and social debts -€5,230
down €5,230 (-22.9%), from €22,866 to €17,636
- Other debts -€4,087
down €4,087 (-2.9%), from €138,846 to €134,759
- Financial income -€9,669
down €9,669 (-90.8%), from €10,649 to €981
- Taxes -€5,916
down €5,916 (-12.5%), from €47,418 to €41,502
- Financial charges +€4,329
up €4,329 (+1720.0%), from €252 to €4,580
- Gross operating margin +€3,846
up €3,846 (+2.1%), from €181,224 to €185,070
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 | €164,925 | €156,471 | -€8,454 | -5.1% |
| Fixed assets | 21/28 | €6,270 | €1,810 | -€4,459 | -71.1% |
| Tangible fixed assets | 22/27 | €6,270 | €1,810 | -€4,459 | -71.1% |
| Furniture and vehicles | 24 | €6,270 | €1,810 | -€4,459 | -71.1% |
| Current assets | 29/58 | €158,656 | €154,661 | -€3,995 | -2.5% |
| Amounts receivable within one year | 40/41 | €3,937 | €4,696 | +€760 | +19.3% |
| Other amounts receivable | 41 | €3,937 | €4,696 | +€760 | +19.3% |
| Current investments | 50/53 | €46,000 | €18,000 | -€28,000 | -60.9% |
| Cash at bank and in hand | 54/58 | €108,719 | €131,965 | +€23,245 | +21.4% |
| Total equity and liabilities | 10/49 | €164,925 | €156,471 | -€8,454 | -5.1% |
| Equity | 10/15 | €1,000 | €1,000 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €163,925 | €155,471 | -€8,454 | -5.2% |
| Amounts payable within one year | 42/48 | €163,925 | €155,471 | -€8,454 | -5.2% |
| Trade debts | 44 | €2,213 | €3,076 | +€863 | +39.0% |
| Suppliers | 440/4 | €2,213 | €3,076 | +€863 | +39.0% |
| Taxes, remuneration and social security | 45 | €22,866 | €17,636 | -€5,230 | -22.9% |
| Taxes | 450/3 | €22,866 | €17,636 | -€5,230 | -22.9% |
| Other amounts payable | 47/48 | €138,846 | €134,759 | -€4,087 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,459 | €4,459 | = | 0.0% |
| Other operating charges | 640/8 | €899 | €928 | +€30 | +3.3% |
| Gross operating margin | 9900 | €181,224 | €185,070 | +€3,846 | +2.1% |
| Operating profit (loss) | 9901 | €175,866 | €179,682 | +€3,816 | +2.2% |
| Financial income | 75/76B | €10,649 | €981 | -€9,669 | -90.8% |
| Recurring financial income | 75 | €10,649 | €981 | -€9,669 | -90.8% |
| Financial charges | 65/66B | €252 | €4,580 | +€4,329 | +1720.0% |
| Recurring financial charges | 65 | €252 | €4,580 | +€4,329 | +1720.0% |
| Profit (loss) for the period before taxes | 9903 | €186,264 | €176,082 | -€10,181 | -5.5% |
| Income taxes | 67/77 | €47,418 | €41,502 | -€5,916 | -12.5% |
| Profit (loss) for the period | 9904 | €138,846 | €134,581 | -€4,265 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €138,846 | €134,581 | -€4,265 | -3.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.