KTHERAPIE: 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.
KTHERAPIE
Largest movements
- Receivables within one year +€31,117
up €31,117 (+369%), from €8,423 to €39,540
of which Other amounts receivable: +€35,185
- Tangible fixed assets -€15,577
down €15,577 (-12.5%), from €124,444 to €108,867
of which Furniture and vehicles: -€8,104
- Receivables after one year -€14,566
down €14,566 (-19.5%), from €74,566 to €60,000
- Cash -€9,967
down €9,967 (-71.7%), from €13,908 to €3,941
mainly Receivables within one year (-€31,117) and Debts after one year (-€17,705)
- Deferred charges and accrued income +€2,831
up €2,831 (+25.4%), from €11,149 to €13,980
- Debts after one year -€17,705
down €17,705 (-27.5%), from €64,330 to €46,625
- Reserves +€11,616
up €11,616 (+7.3%), from €159,754 to €171,371
- Trade debts -€7,810
down €7,810 (-99.7%), from €7,835 to €25
- Other debts +€6,502
new in 2025: €6,502
- Accrued charges and deferred income +€5,405
up €5,405 (+56.9%), from €9,498 to €14,903
- Gross operating margin -€31,261
down €31,261 (-40.1%), from €77,878 to €46,617
- Taxes -€11,655
down €11,655 (-56.9%), from €20,491 to €8,836
- Depreciation +€4,374
up €4,374 (+27.9%), from €15,668 to €20,041
- Financial income +€2,655
up €2,655 (+963%), from €276 to €2,930
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 | €279,793 | €273,632 | -€6,162 | -2.2% |
| Fixed assets | 21/28 | €124,444 | €108,867 | -€15,577 | -12.5% |
| Tangible fixed assets | 22/27 | €124,444 | €108,867 | -€15,577 | -12.5% |
| Plant, machinery and equipment | 23 | €910 | €459 | -€450 | -49.5% |
| Furniture and vehicles | 24 | €38,687 | €30,583 | -€8,104 | -20.9% |
| Other tangible fixed assets | 26 | €84,847 | €77,825 | -€7,022 | -8.3% |
| Current assets | 29/58 | €155,350 | €164,765 | +€9,415 | +6.1% |
| Amounts receivable after more than one year | 29 | €74,566 | €60,000 | -€14,566 | -19.5% |
| Other amounts receivable | 291 | €74,566 | €60,000 | -€14,566 | -19.5% |
| Amounts receivable within one year | 40/41 | €8,423 | €39,540 | +€31,117 | +369% |
| Trade receivables | 40 | €4,068 | - | -€4,068 | |
| Other amounts receivable | 41 | €4,355 | €39,540 | +€35,185 | +808% |
| Current investments | 50/53 | €47,303 | €47,303 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,908 | €3,941 | -€9,967 | -71.7% |
| Deferred charges and accrued income | 490/1 | €11,149 | €13,980 | +€2,831 | +25.4% |
| Total equity and liabilities | 10/49 | €279,793 | €273,632 | -€6,162 | -2.2% |
| Equity | 10/15 | €165,954 | €177,571 | +€11,616 | +7.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €159,754 | €171,371 | +€11,616 | +7.3% |
| Distributable reserves | 133 | €159,754 | €171,371 | +€11,616 | +7.3% |
| Amounts payable | 17/49 | €113,839 | €96,061 | -€17,778 | -15.6% |
| Amounts payable after more than one year | 17 | €64,330 | €46,625 | -€17,705 | -27.5% |
| Financial debts | 170/4 | €64,330 | €46,625 | -€17,705 | -27.5% |
| Amounts payable within one year | 42/48 | €40,011 | €34,533 | -€5,478 | -13.7% |
| Current portion of amounts payable after more than one year | 42 | €17,151 | €17,705 | +€554 | +3.2% |
| Trade debts | 44 | €7,835 | €25 | -€7,810 | -99.7% |
| Suppliers | 440/4 | €7,835 | €25 | -€7,810 | -99.7% |
| Taxes, remuneration and social security | 45 | €15,025 | €10,302 | -€4,723 | -31.4% |
| Taxes | 450/3 | €15,025 | €10,302 | -€4,723 | -31.4% |
| Other amounts payable | 47/48 | - | €6,502 | +€6,502 | |
| Accrued charges and deferred income | 492/3 | €9,498 | €14,903 | +€5,405 | +56.9% |
| Non-recurring operating income | 76A | €4,600 | - | -€4,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,668 | €20,041 | +€4,374 | +27.9% |
| Gross operating margin | 9900 | €77,878 | €46,617 | -€31,261 | -40.1% |
| Operating profit (loss) | 9901 | €62,211 | €26,576 | -€35,635 | -57.3% |
| Financial income | 75/76B | €276 | €2,930 | +€2,655 | +963% |
| Recurring financial income | 75 | €276 | €2,930 | +€2,655 | +963% |
| Financial charges | 65/66B | €2,231 | €2,552 | +€321 | +14.4% |
| Recurring financial charges | 65 | €2,212 | €2,552 | +€340 | +15.4% |
| Non-recurring financial charges | 66B | €19 | - | -€19 | |
| Profit (loss) for the period before taxes | 9903 | €60,255 | €26,954 | -€33,301 | -55.3% |
| Income taxes | 67/77 | €20,491 | €8,836 | -€11,655 | -56.9% |
| Profit (loss) for the period | 9904 | €39,764 | €18,118 | -€21,646 | -54.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,764 | €18,118 | -€21,646 | -54.4% |
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 30 October 2026 via checked.be.