KTHAYSECARDIO: 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.
KTHAYSECARDIO
Largest movements
- Current investments +€120,000
new in 2025: €120,000
- Cash +€65,693
up €65,693 (+116.2%), from €56,550 to €122,243
mainly Net result for the year (+€163,983) and Debts after one year (+€25,384)
- Receivables within one year +€26,571
up €26,571 (+40.5%), from €65,613 to €92,184
- Tangible fixed assets -€20,973
down €20,973 (-55.6%), from €37,720 to €16,747
of which Furniture and vehicles: -€15,772
- Profit (loss) carried forward +€163,983
up €163,983 (+97.3%), from €168,526 to €332,509
- Debts after one year +€25,384
new in 2025: €25,384
- Trade debts -€13,676
down €13,676 (-96.8%), from €14,129 to €454
- Current portion of long-term debt +€12,518
new in 2025: €12,518
- Gross operating margin -€6,674
down €6,674 (-2.8%), from €241,925 to €235,252
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 | €237,102 | €428,264 | +€191,162 | +80.6% |
| Fixed assets | 21/28 | €37,720 | €16,747 | -€20,973 | -55.6% |
| Tangible fixed assets | 22/27 | €37,720 | €16,747 | -€20,973 | -55.6% |
| Plant, machinery and equipment | 23 | €14,821 | €11,256 | -€3,566 | -24.1% |
| Furniture and vehicles | 24 | €16,879 | €1,108 | -€15,772 | -93.4% |
| Other tangible fixed assets | 26 | €6,019 | €4,384 | -€1,635 | -27.2% |
| Current assets | 29/58 | €199,382 | €411,517 | +€212,135 | +106.4% |
| Amounts receivable within one year | 40/41 | €65,613 | €92,184 | +€26,571 | +40.5% |
| Other amounts receivable | 41 | €65,613 | €92,184 | +€26,571 | +40.5% |
| Current investments | 50/53 | - | €120,000 | +€120,000 | |
| Cash at bank and in hand | 54/58 | €56,550 | €122,243 | +€65,693 | +116.2% |
| Deferred charges and accrued income | 490/1 | €77,219 | €77,089 | -€130 | -0.2% |
| Total equity and liabilities | 10/49 | €237,102 | €428,264 | +€191,162 | +80.6% |
| Equity | 10/15 | €172,026 | €336,009 | +€163,983 | +95.3% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €168,526 | €332,509 | +€163,983 | +97.3% |
| Amounts payable | 17/49 | €65,076 | €92,255 | +€27,179 | +41.8% |
| Amounts payable after more than one year | 17 | - | €25,384 | +€25,384 | |
| Financial debts | 170/4 | - | €25,384 | +€25,384 | |
| Amounts payable within one year | 42/48 | €65,076 | €66,870 | +€1,795 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | - | €12,518 | +€12,518 | |
| Trade debts | 44 | €14,129 | €454 | -€13,676 | -96.8% |
| Suppliers | 440/4 | €14,129 | €454 | -€13,676 | -96.8% |
| Taxes, remuneration and social security | 45 | €50,946 | €53,898 | +€2,952 | +5.8% |
| Taxes | 450/3 | €50,786 | €53,898 | +€3,112 | +6.1% |
| Remuneration and social security | 454/9 | €160 | - | -€160 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,843 | €21,605 | -€2,237 | -9.4% |
| Other operating charges | 640/8 | €762 | €697 | -€65 | -8.5% |
| Gross operating margin | 9900 | €241,925 | €235,252 | -€6,674 | -2.8% |
| Operating profit (loss) | 9901 | €217,321 | €212,949 | -€4,372 | -2.0% |
| Financial income | 75/76B | €2,050 | €4,395 | +€2,344 | +114.3% |
| Recurring financial income | 75 | €2,050 | €4,395 | +€2,344 | +114.3% |
| Financial charges | 65/66B | €59 | €2,372 | +€2,313 | +3919.8% |
| Recurring financial charges | 65 | €59 | €2,372 | +€2,313 | +3919.8% |
| Profit (loss) for the period before taxes | 9903 | €219,312 | €214,971 | -€4,341 | -2.0% |
| Income taxes | 67/77 | €50,786 | €50,988 | +€202 | +0.4% |
| Profit (loss) for the period | 9904 | €168,526 | €163,983 | -€4,543 | -2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €168,526 | €163,983 | -€4,543 | -2.7% |
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 6 October 2026 via checked.be.