KTR: 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.
KTR
Largest movements
- Receivables within one year -€21,423
down €21,423 (-90.3%), from €23,730 to €2,307
of which Trade receivables: -€21,805
- Intangible fixed assets -€5,324
down €5,324 (-33.1%), from €16,071 to €10,747
- Cash +€3,815
up €3,815 (+363%), from €1,050 to €4,865
mainly Receivables within one year (+€21,423) and Depreciation (+€8,416)
- Deferred charges and accrued income +€876
up €876 (+10.0%), from €8,739 to €9,614
- Profit (loss) carried forward -€17,910
down €17,910 (-68.6%), from €26,112 to €8,201
- Other debts -€4,337
down €4,337 (-35.1%), from €12,343 to €8,006
- Current portion of long-term debt +€2,500
new in 2025: €2,500
- Tax, wage and social debts -€2,147
down €2,147 (-89.6%), from €2,397 to €250
of which Remuneration and social security: -€2,056
- Financial charges +€16,797
up €16,797 (+1,567%), from €1,072 to €17,869
of which Non-recurring financial charges: +€16,832
- Depreciation +€1,510
up €1,510 (+21.9%), from €6,906 to €8,416
- Gross operating margin +€862
up €862 (+9.0%), from €9,553 to €10,416
- Taxes -€574
down €574 (-74.9%), from €767 to €193
- Other operating charges +€435
up €435 (+74.9%), from €581 to €1,016
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 | €49,779 | €27,722 | -€22,057 | -44.3% |
| Fixed assets | 21/28 | €16,260 | €10,936 | -€5,324 | -32.7% |
| Intangible fixed assets | 21 | €16,071 | €10,747 | -€5,324 | -33.1% |
| Financial fixed assets | 28 | €189 | €189 | = | 0.0% |
| Current assets | 29/58 | €33,519 | €16,786 | -€16,733 | -49.9% |
| Amounts receivable within one year | 40/41 | €23,730 | €2,307 | -€21,423 | -90.3% |
| Trade receivables | 40 | €21,805 | - | -€21,805 | |
| Other amounts receivable | 41 | €1,925 | €2,307 | +€382 | +19.8% |
| Cash at bank and in hand | 54/58 | €1,050 | €4,865 | +€3,815 | +363% |
| Deferred charges and accrued income | 490/1 | €8,739 | €9,614 | +€876 | +10.0% |
| Total equity and liabilities | 10/49 | €49,779 | €27,722 | -€22,057 | -44.3% |
| Equity | 10/15 | €34,172 | €16,261 | -€17,910 | -52.4% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,112 | €8,201 | -€17,910 | -68.6% |
| Amounts payable | 17/49 | €15,607 | €11,461 | -€4,146 | -26.6% |
| Amounts payable within one year | 42/48 | €15,607 | €11,461 | -€4,146 | -26.6% |
| Current portion of amounts payable after more than one year | 42 | - | €2,500 | +€2,500 | |
| Trade debts | 44 | €867 | €705 | -€162 | -18.7% |
| Suppliers | 440/4 | €867 | €705 | -€162 | -18.7% |
| Taxes, remuneration and social security | 45 | €2,397 | €250 | -€2,147 | -89.6% |
| Taxes | 450/3 | €341 | €250 | -€91 | -26.8% |
| Remuneration and social security | 454/9 | €2,056 | - | -€2,056 | |
| Other amounts payable | 47/48 | €12,343 | €8,006 | -€4,337 | -35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,906 | €8,416 | +€1,510 | +21.9% |
| Other operating charges | 640/8 | €581 | €1,016 | +€435 | +74.9% |
| Gross operating margin | 9900 | €9,553 | €10,416 | +€862 | +9.0% |
| Operating profit (loss) | 9901 | €2,067 | €984 | -€1,083 | -52.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,072 | €17,869 | +€16,797 | +1,567% |
| Recurring financial charges | 65 | €238 | €203 | -€35 | -14.8% |
| Non-recurring financial charges | 66B | €834 | €17,666 | +€16,832 | +2,019% |
| Profit (loss) for the period before taxes | 9903 | €996 | -€16,885 | -€17,880 | |
| Income taxes | 67/77 | €767 | €193 | -€574 | -74.9% |
| Profit (loss) for the period | 9904 | €229 | -€17,077 | -€17,306 | |
| Profit (loss) for the period to be appropriated | 9905 | €229 | -€17,077 | -€17,306 |
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 17 October 2026 via checked.be.