KTL: 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.
KTL
Largest movements
- Cash +€64,306
up €64,306 (+87.0%), from €73,902 to €138,208
mainly Net result for the year (+€71,050) and Depreciation (+€4,683)
- Receivables within one year +€9,913
up €9,913 (+80.1%), from €12,372 to €22,285
- Tangible fixed assets -€4,683
down €4,683 (-29.2%), from €16,029 to €11,346
- Reserves +€71,000
up €71,000 (+81.6%), from €87,000 to €158,000
- Gross operating margin +€5,259
up €5,259 (+5.8%), from €90,227 to €95,486
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 | €102,887 | €172,910 | +€70,023 | +68.1% |
| Fixed assets | 21/28 | €16,029 | €11,346 | -€4,683 | -29.2% |
| Tangible fixed assets | 22/27 | €16,029 | €11,346 | -€4,683 | -29.2% |
| Furniture and vehicles | 24 | €16,029 | €11,346 | -€4,683 | -29.2% |
| Current assets | 29/58 | €86,858 | €161,565 | +€74,706 | +86.0% |
| Amounts receivable within one year | 40/41 | €12,372 | €22,285 | +€9,913 | +80.1% |
| Other amounts receivable | 41 | €12,372 | €22,285 | +€9,913 | +80.1% |
| Cash at bank and in hand | 54/58 | €73,902 | €138,208 | +€64,306 | +87.0% |
| Deferred charges and accrued income | 490/1 | €584 | €1,072 | +€488 | +83.4% |
| Total equity and liabilities | 10/49 | €102,887 | €172,910 | +€70,023 | +68.1% |
| Equity | 10/15 | €88,786 | €159,835 | +€71,050 | +80.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €87,000 | €158,000 | +€71,000 | +81.6% |
| Distributable reserves | 133 | €87,000 | €158,000 | +€71,000 | +81.6% |
| Profit (loss) carried forward | 14 | €286 | €335 | +€50 | +17.4% |
| Amounts payable | 17/49 | €14,102 | €13,075 | -€1,027 | -7.3% |
| Amounts payable within one year | 42/48 | €14,102 | €13,075 | -€1,027 | -7.3% |
| Trade debts | 44 | €109 | €59 | -€50 | -46.1% |
| Suppliers | 440/4 | €109 | €59 | -€50 | -46.1% |
| Taxes, remuneration and social security | 45 | €13,134 | €13,016 | -€117 | -0.9% |
| Taxes | 450/3 | €13,134 | €13,016 | -€117 | -0.9% |
| Other amounts payable | 47/48 | €859 | - | -€859 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,683 | €4,683 | = | 0.0% |
| Other operating charges | 640/8 | €469 | €517 | +€49 | +10.4% |
| Gross operating margin | 9900 | €90,227 | €95,486 | +€5,259 | +5.8% |
| Operating profit (loss) | 9901 | €85,075 | €90,285 | +€5,210 | +6.1% |
| Financial charges | 65/66B | €39 | €153 | +€114 | +290.7% |
| Recurring financial charges | 65 | €39 | €153 | +€114 | +290.7% |
| Profit (loss) for the period before taxes | 9903 | €85,036 | €90,132 | +€5,096 | +6.0% |
| Income taxes | 67/77 | €18,199 | €19,082 | +€883 | +4.9% |
| Profit (loss) for the period | 9904 | €66,837 | €71,050 | +€4,213 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €66,837 | €71,050 | +€4,213 | +6.3% |
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 29 September 2026 via checked.be.