KZN GROUP: 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.
KZN GROUP
Largest movements
- Receivables within one year +€272,387
up €272,387 (+758%), from €35,945 to €308,332
of which Trade receivables: +€271,214
- Cash -€70,932
down €70,932 (-93.2%), from €76,143 to €5,211
mainly Receivables within one year (-€272,387) and Debts after one year (-€18,457)
- Tangible fixed assets -€26,987
down €26,987 (-16.8%), from €161,101 to €134,114
of which Leasing and similar rights: -€26,594
- Profit (loss) carried forward +€88,060
up €88,060 (+148%), from €59,511 to €147,571
- Tax, wage and social debts +€50,835
up €50,835 (+89.8%), from €56,583 to €107,418
of which Remuneration and social security: +€70,020
- Accrued charges and deferred income +€42,884
up €42,884 (+113%), from €37,989 to €80,873
- Debts after one year -€18,457
down €18,457 (-40.5%), from €45,605 to €27,148
- Trade debts +€10,871
up €10,871 (+13.7%), from €79,317 to €90,188
- Purchases and services -€923,845
no longer reported in 2025 (was €923,845)
- Gross operating margin +€175,737
up €175,737 (+41.6%), from €422,037 to €597,774
- Staff costs +€87,280
up €87,280 (+27.0%), from €323,247 to €410,527
- Taxes +€14,936
up €14,936 (+133%), from €11,231 to €26,167
- Depreciation +€9,200
up €9,200 (+25.9%), from €35,529 to €44,729
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 | €307,188 | €481,656 | +€174,468 | +56.8% |
| Fixed assets | 21/28 | €195,101 | €168,114 | -€26,987 | -13.8% |
| Tangible fixed assets | 22/27 | €161,101 | €134,114 | -€26,987 | -16.8% |
| Furniture and vehicles | 24 | €77,665 | €77,271 | -€394 | -0.5% |
| Leasing and similar rights | 25 | €83,436 | €56,843 | -€26,594 | -31.9% |
| Financial fixed assets | 28 | €34,000 | €34,000 | = | 0.0% |
| Current assets | 29/58 | €112,087 | €313,543 | +€201,455 | +180% |
| Amounts receivable within one year | 40/41 | €35,945 | €308,332 | +€272,387 | +758% |
| Trade receivables | 40 | €27,711 | €298,924 | +€271,214 | +979% |
| Other amounts receivable | 41 | €8,234 | €9,407 | +€1,173 | +14.2% |
| Cash at bank and in hand | 54/58 | €76,143 | €5,211 | -€70,932 | -93.2% |
| Total equity and liabilities | 10/49 | €307,188 | €481,656 | +€174,468 | +56.8% |
| Equity | 10/15 | €69,511 | €157,571 | +€88,060 | +127% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,511 | €147,571 | +€88,060 | +148% |
| Amounts payable | 17/49 | €237,677 | €324,085 | +€86,408 | +36.4% |
| Amounts payable after more than one year | 17 | €45,605 | €27,148 | -€18,457 | -40.5% |
| Financial debts | 170/4 | €45,605 | €27,148 | -€18,457 | -40.5% |
| Amounts payable within one year | 42/48 | €154,083 | €216,064 | +€61,981 | +40.2% |
| Current portion of amounts payable after more than one year | 42 | €17,011 | €18,457 | +€1,446 | +8.5% |
| Financial debts | 43 | - | €2 | +€2 | |
| Credit institutions | 430/8 | - | €2 | +€2 | |
| Trade debts | 44 | €79,317 | €90,188 | +€10,871 | +13.7% |
| Suppliers | 440/4 | €79,317 | €90,188 | +€10,871 | +13.7% |
| Taxes, remuneration and social security | 45 | €56,583 | €107,418 | +€50,835 | +89.8% |
| Taxes | 450/3 | €56,583 | €37,398 | -€19,185 | -33.9% |
| Remuneration and social security | 454/9 | - | €70,020 | +€70,020 | |
| Other amounts payable | 47/48 | €1,173 | - | -€1,173 | |
| Accrued charges and deferred income | 492/3 | €37,989 | €80,873 | +€42,884 | +113% |
| Non-recurring operating income | 76A | €6,851 | - | -€6,851 | |
| Goods, raw materials, services and sundry goods | 60/61 | €923,845 | - | -€923,845 | |
| Remuneration, social security and pensions | 62 | €323,247 | €410,527 | +€87,280 | +27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,529 | €44,729 | +€9,200 | +25.9% |
| Other operating charges | 640/8 | €11,877 | €20,402 | +€8,525 | +71.8% |
| Gross operating margin | 9900 | €422,037 | €597,774 | +€175,737 | +41.6% |
| Operating profit (loss) | 9901 | €51,383 | €122,116 | +€70,733 | +138% |
| Financial income | 75/76B | €29 | €8 | -€21 | -73.7% |
| Recurring financial income | 75 | €29 | €8 | -€21 | -73.7% |
| Financial charges | 65/66B | €5,655 | €7,896 | +€2,241 | +39.6% |
| Recurring financial charges | 65 | €5,655 | €7,896 | +€2,241 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €45,757 | €114,227 | +€68,470 | +150% |
| Income taxes | 67/77 | €11,231 | €26,167 | +€14,936 | +133% |
| Profit (loss) for the period | 9904 | €34,526 | €88,060 | +€53,534 | +155% |
| Profit (loss) for the period to be appropriated | 9905 | €34,526 | €88,060 | +€53,534 | +155% |
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 28 October 2026 via checked.be.