KXF: 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.
KXF
Largest movements
- Tangible fixed assets -€51,321
down €51,321 (-7.0%), from €728,955 to €677,634
of which Land and buildings: -€48,173
- Cash +€11,419
up €11,419 (+2234.8%), from €511 to €11,930
mainly Depreciation (+€58,719) and Net result for the year (+€27,661)
- Debts after one year -€82,832
down €82,832 (-21.3%), from €389,655 to €306,822
- Profit (loss) carried forward +€27,661
up €27,661 (+9.5%), from €292,057 to €319,718
- Accrued charges and deferred income +€15,217
new in 2025: €15,217
- Tax, wage and social debts -€13,515
down €13,515 (-42.8%), from €31,571 to €18,056
- Taxes -€10,252
down €10,252 (-50.4%), from €20,321 to €10,069
- Gross operating margin -€8,780
down €8,780 (-7.1%), from €124,517 to €115,737
- Financial charges -€2,411
down €2,411 (-20.2%), from €11,912 to €9,501
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 | €815,010 | €771,089 | -€43,921 | -5.4% |
| Fixed assets | 21/28 | €728,955 | €677,634 | -€51,321 | -7.0% |
| Tangible fixed assets | 22/27 | €728,955 | €677,634 | -€51,321 | -7.0% |
| Land and buildings | 22 | €647,509 | €599,337 | -€48,173 | -7.4% |
| Other tangible fixed assets | 26 | €81,446 | €78,297 | -€3,148 | -3.9% |
| Current assets | 29/58 | €86,055 | €93,455 | +€7,400 | +8.6% |
| Amounts receivable within one year | 40/41 | €84,473 | €81,525 | -€2,948 | -3.5% |
| Trade receivables | 40 | €1,907 | €9,958 | +€8,052 | +422.3% |
| Other amounts receivable | 41 | €82,566 | €71,566 | -€11,000 | -13.3% |
| Cash at bank and in hand | 54/58 | €511 | €11,930 | +€11,419 | +2234.8% |
| Deferred charges and accrued income | 490/1 | €1,071 | €0 | -€1,071 | -100.0% |
| Total equity and liabilities | 10/49 | €815,010 | €771,089 | -€43,921 | -5.4% |
| Equity | 10/15 | €312,517 | €340,178 | +€27,661 | +8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €292,057 | €319,718 | +€27,661 | +9.5% |
| Amounts payable | 17/49 | €502,493 | €430,911 | -€71,582 | -14.2% |
| Amounts payable after more than one year | 17 | €389,655 | €306,822 | -€82,832 | -21.3% |
| Financial debts | 170/4 | €389,655 | €306,822 | -€82,832 | -21.3% |
| Amounts payable within one year | 42/48 | €112,838 | €108,872 | -€3,966 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €81,268 | €82,832 | +€1,565 | +1.9% |
| Trade debts | 44 | - | €7,923 | +€7,923 | |
| Suppliers | 440/4 | - | €7,923 | +€7,923 | |
| Taxes, remuneration and social security | 45 | €31,571 | €18,056 | -€13,515 | -42.8% |
| Taxes | 450/3 | €31,571 | €18,056 | -€13,515 | -42.8% |
| Other amounts payable | 47/48 | - | €61 | +€61 | |
| Accrued charges and deferred income | 492/3 | - | €15,217 | +€15,217 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,017 | €58,719 | +€702 | +1.2% |
| Other operating charges | 640/8 | €9,981 | €9,787 | -€194 | -1.9% |
| Gross operating margin | 9900 | €124,517 | €115,737 | -€8,780 | -7.1% |
| Operating profit (loss) | 9901 | €56,519 | €47,231 | -€9,287 | -16.4% |
| Financial charges | 65/66B | €11,912 | €9,501 | -€2,411 | -20.2% |
| Recurring financial charges | 65 | €11,912 | €9,501 | -€2,411 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €44,607 | €37,730 | -€6,877 | -15.4% |
| Income taxes | 67/77 | €20,321 | €10,069 | -€10,252 | -50.4% |
| Profit (loss) for the period | 9904 | €24,286 | €27,661 | +€3,375 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,286 | €27,661 | +€3,375 | +13.9% |
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 10 October 2026 via checked.be.