KW Construction: 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.
KW Construction
Largest movements
- Cash +€29,906
up €29,906 (+201.5%), from €14,845 to €44,751
mainly Net result for the year (+€37,002) and Depreciation (+€18,555)
- Tangible fixed assets -€11,382
down €11,382 (-16.0%), from €71,196 to €59,814
- Reserves +€35,336
up €35,336 (+560.2%), from €6,308 to €41,644
- Other debts -€19,226
down €19,226 (-92.0%), from €20,892 to €1,666
- Debts after one year -€11,172
down €11,172 (-20.5%), from €54,399 to €43,227
- Tax, wage and social debts +€10,440
up €10,440 (+197.0%), from €5,300 to €15,740
- Current portion of long-term debt +€3,507
up €3,507 (+25.4%), from €13,806 to €17,313
- Gross operating margin +€47,532
up €47,532 (+209.7%), from €22,669 to €70,200
- Depreciation +€9,051
up €9,051 (+95.2%), from €9,504 to €18,555
- Taxes +€7,719
up €7,719 (+268.4%), from €2,876 to €10,594
- Financial charges +€1,625
up €1,625 (+82.1%), from €1,979 to €3,605
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 | €101,914 | €121,595 | +€19,681 | +19.3% |
| Fixed assets | 21/28 | €71,196 | €59,814 | -€11,382 | -16.0% |
| Tangible fixed assets | 22/27 | €71,196 | €59,814 | -€11,382 | -16.0% |
| Furniture and vehicles | 24 | €71,196 | €59,814 | -€11,382 | -16.0% |
| Current assets | 29/58 | €30,718 | €61,780 | +€31,063 | +101.1% |
| Amounts receivable within one year | 40/41 | €14,722 | €14,790 | +€68 | +0.5% |
| Trade receivables | 40 | €11,293 | €12,939 | +€1,646 | +14.6% |
| Other amounts receivable | 41 | €3,429 | €1,851 | -€1,578 | -46.0% |
| Cash at bank and in hand | 54/58 | €14,845 | €44,751 | +€29,906 | +201.5% |
| Deferred charges and accrued income | 490/1 | €1,151 | €2,240 | +€1,088 | +94.5% |
| Total equity and liabilities | 10/49 | €101,914 | €121,595 | +€19,681 | +19.3% |
| Equity | 10/15 | €6,308 | €41,644 | +€35,336 | +560.2% |
| Reserves | 13 | €6,308 | €41,644 | +€35,336 | +560.2% |
| Distributable reserves | 133 | €6,308 | €41,644 | +€35,336 | +560.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €95,607 | €79,951 | -€15,656 | -16.4% |
| Amounts payable after more than one year | 17 | €54,399 | €43,227 | -€11,172 | -20.5% |
| Financial debts | 170/4 | €54,399 | €43,227 | -€11,172 | -20.5% |
| Amounts payable within one year | 42/48 | €41,208 | €36,724 | -€4,484 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €13,806 | €17,313 | +€3,507 | +25.4% |
| Trade debts | 44 | €1,210 | €2,005 | +€795 | +65.7% |
| Suppliers | 440/4 | €1,210 | €2,005 | +€795 | +65.7% |
| Taxes, remuneration and social security | 45 | €5,300 | €15,740 | +€10,440 | +197.0% |
| Taxes | 450/3 | €5,300 | €15,740 | +€10,440 | +197.0% |
| Other amounts payable | 47/48 | €20,892 | €1,666 | -€19,226 | -92.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,504 | €18,555 | +€9,051 | +95.2% |
| Other operating charges | 640/8 | €336 | €407 | +€71 | +21.3% |
| Non-recurring operating charges | 66A | - | €220 | +€220 | |
| Gross operating margin | 9900 | €22,669 | €70,200 | +€47,532 | +209.7% |
| Operating profit (loss) | 9901 | €12,829 | €51,018 | +€38,189 | +297.7% |
| Financial income | 75/76B | - | €183 | +€183 | |
| Recurring financial income | 75 | - | €183 | +€183 | |
| Financial charges | 65/66B | €1,979 | €3,605 | +€1,625 | +82.1% |
| Recurring financial charges | 65 | €1,979 | €3,605 | +€1,625 | +82.1% |
| Profit (loss) for the period before taxes | 9903 | €10,849 | €47,597 | +€36,747 | +338.7% |
| Income taxes | 67/77 | €2,876 | €10,594 | +€7,719 | +268.4% |
| Profit (loss) for the period | 9904 | €7,974 | €37,002 | +€29,028 | +364.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,974 | €37,002 | +€29,028 | +364.1% |
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 3 October 2026 via checked.be.