KW Construct: 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.
KW Construct
Largest movements
- Cash +€16,130
up €16,130 (+513%), from €3,143 to €19,272
mainly Depreciation (+€12,606) and Receivables within one year (+€7,012)
- Tangible fixed assets -€11,409
down €11,409 (-36.8%), from €31,010 to €19,601
- Receivables within one year -€7,012
down €7,012 (-17.7%), from €39,695 to €32,683
of which Trade receivables: -€13,871
- Current investments +€1,050
up €1,050 (+9.3%), from €11,291 to €12,341
- Debts after one year -€7,765
down €7,765 (-66.1%), from €11,744 to €3,979
- Reserves +€4,449
up €4,449 (+10.4%), from €42,681 to €47,130
- Trade debts +€1,056
up €1,056, from €0 to €1,056
- Gross operating margin +€907
up €907 (+4.8%), from €19,054 to €19,962
- Taxes +€825
up €825 (+50.3%), from €1,641 to €2,466
- Financial charges -€557
down €557 (-44.4%), from €1,255 to €698
- Financial income +€272
up €272 (+25.8%), from €1,056 to €1,328
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 | €85,139 | €83,897 | -€1,242 | -1.5% |
| Fixed assets | 21/28 | €31,010 | €19,601 | -€11,409 | -36.8% |
| Tangible fixed assets | 22/27 | €31,010 | €19,601 | -€11,409 | -36.8% |
| Furniture and vehicles | 24 | €31,010 | €19,601 | -€11,409 | -36.8% |
| Current assets | 29/58 | €54,129 | €64,296 | +€10,167 | +18.8% |
| Amounts receivable within one year | 40/41 | €39,695 | €32,683 | -€7,012 | -17.7% |
| Trade receivables | 40 | €15,816 | €1,945 | -€13,871 | -87.7% |
| Other amounts receivable | 41 | €23,879 | €30,737 | +€6,858 | +28.7% |
| Current investments | 50/53 | €11,291 | €12,341 | +€1,050 | +9.3% |
| Cash at bank and in hand | 54/58 | €3,143 | €19,272 | +€16,130 | +513% |
| Total equity and liabilities | 10/49 | €85,139 | €83,897 | -€1,242 | -1.5% |
| Equity | 10/15 | €54,602 | €59,530 | +€4,928 | +9.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €42,681 | €47,130 | +€4,449 | +10.4% |
| Distributable reserves | 133 | €42,681 | €47,130 | +€4,449 | +10.4% |
| Profit (loss) carried forward | 14 | -€479 | €0 | +€479 | |
| Amounts payable | 17/49 | €30,536 | €24,366 | -€6,170 | -20.2% |
| Amounts payable after more than one year | 17 | €11,744 | €3,979 | -€7,765 | -66.1% |
| Financial debts | 170/4 | €11,744 | €3,979 | -€7,765 | -66.1% |
| Amounts payable within one year | 42/48 | €18,792 | €20,387 | +€1,595 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €7,514 | €7,765 | +€251 | +3.3% |
| Financial debts | 43 | €329 | €0 | -€329 | -100% |
| Credit institutions | 430/8 | €329 | €0 | -€329 | -100% |
| Trade debts | 44 | €0 | €1,056 | +€1,056 | |
| Suppliers | 440/4 | €0 | €1,056 | +€1,056 | |
| Taxes, remuneration and social security | 45 | €10,949 | €11,566 | +€617 | +5.6% |
| Taxes | 450/3 | €10,949 | €11,566 | +€617 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,465 | €12,606 | +€141 | +1.1% |
| Other operating charges | 640/8 | €604 | €591 | -€13 | -2.1% |
| Gross operating margin | 9900 | €19,054 | €19,962 | +€907 | +4.8% |
| Operating profit (loss) | 9901 | €5,985 | €6,764 | +€779 | +13.0% |
| Financial income | 75/76B | €1,056 | €1,328 | +€272 | +25.8% |
| Recurring financial income | 75 | €1,056 | €1,328 | +€272 | +25.8% |
| Financial charges | 65/66B | €1,255 | €698 | -€557 | -44.4% |
| Recurring financial charges | 65 | €1,255 | €698 | -€557 | -44.4% |
| Profit (loss) for the period before taxes | 9903 | €5,786 | €7,394 | +€1,608 | +27.8% |
| Income taxes | 67/77 | €1,641 | €2,466 | +€825 | +50.3% |
| Profit (loss) for the period | 9904 | €4,145 | €4,928 | +€783 | +18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,145 | €4,928 | +€783 | +18.9% |
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 25 October 2026 via checked.be.