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.
KC Investments
Largest movements
- Tangible fixed assets -€12,425
down €12,425 (-38.8%), from €32,026 to €19,601
of which Furniture and vehicles: -€13,387
- Receivables within one year +€4,795
up €4,795 (+25.4%), from €18,900 to €23,695
- Reserves +€79,583
up €79,583 (+69.1%), from €115,102 to €194,685
of which Distributable reserves: +€79,583
- Debts after one year -€50,585
down €50,585 (-30.5%), from €165,849 to €115,264
- Other debts -€45,000
down €45,000 (-75.0%), from €60,000 to €15,000
- Current portion of long-term debt +€8,267
up €8,267 (+16.7%), from €49,418 to €57,685
- Financial income +€57,111
up €57,111 (+97.7%), from €58,436 to €115,547
- Gross operating margin -€8,995
down €8,995 (-29.7%), from €30,238 to €21,242
- Taxes +€5,738
up €5,738 (+59.1%), from €9,709 to €15,447
- Staff costs +€3,620
up €3,620 (+1810.1%), from €200 to €3,820
- Financial charges -€921
down €921 (-16.2%), from €5,680 to €4,759
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 | €414,178 | €410,080 | -€4,098 | -1.0% |
| Fixed assets | 21/28 | €382,026 | €369,601 | -€12,425 | -3.3% |
| Tangible fixed assets | 22/27 | €32,026 | €19,601 | -€12,425 | -38.8% |
| Plant, machinery and equipment | 23 | €1,707 | €2,669 | +€961 | +56.3% |
| Furniture and vehicles | 24 | €30,319 | €16,933 | -€13,387 | -44.2% |
| Financial fixed assets | 28 | €350,000 | €350,000 | = | 0.0% |
| Current assets | 29/58 | €32,152 | €40,479 | +€8,327 | +25.9% |
| Amounts receivable within one year | 40/41 | €18,900 | €23,695 | +€4,795 | +25.4% |
| Other amounts receivable | 41 | €18,900 | €23,695 | +€4,795 | +25.4% |
| Cash at bank and in hand | 54/58 | €13,252 | €16,784 | +€3,532 | +26.7% |
| Total equity and liabilities | 10/49 | €414,178 | €410,080 | -€4,098 | -1.0% |
| Equity | 10/15 | €133,702 | €213,285 | +€79,583 | +59.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €115,102 | €194,685 | +€79,583 | +69.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €113,242 | €192,825 | +€79,583 | +70.3% |
| Amounts payable | 17/49 | €280,476 | €196,794 | -€83,681 | -29.8% |
| Amounts payable after more than one year | 17 | €165,849 | €115,264 | -€50,585 | -30.5% |
| Financial debts | 170/4 | €165,849 | €115,264 | -€50,585 | -30.5% |
| Amounts payable within one year | 42/48 | €114,627 | €81,530 | -€33,097 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €49,418 | €57,685 | +€8,267 | +16.7% |
| Trade debts | 44 | - | €1,093 | +€1,093 | |
| Suppliers | 440/4 | - | €1,093 | +€1,093 | |
| Taxes, remuneration and social security | 45 | €5,209 | €7,752 | +€2,543 | +48.8% |
| Taxes | 450/3 | €5,209 | €7,752 | +€2,543 | +48.8% |
| Other amounts payable | 47/48 | €60,000 | €15,000 | -€45,000 | -75.0% |
| Remuneration, social security and pensions | 62 | €200 | €3,820 | +€3,620 | +1810.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,037 | €14,105 | +€68 | +0.5% |
| Other operating charges | 640/8 | €637 | €324 | -€313 | -49.1% |
| Gross operating margin | 9900 | €30,238 | €21,242 | -€8,995 | -29.7% |
| Operating profit (loss) | 9901 | €15,364 | €2,993 | -€12,371 | -80.5% |
| Financial income | 75/76B | €58,436 | €115,547 | +€57,111 | +97.7% |
| Recurring financial income | 75 | €58,436 | €115,547 | +€57,111 | +97.7% |
| Financial charges | 65/66B | €5,680 | €4,759 | -€921 | -16.2% |
| Recurring financial charges | 65 | €5,680 | €4,759 | -€921 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €68,119 | €113,781 | +€45,661 | +67.0% |
| Income taxes | 67/77 | €9,709 | €15,447 | +€5,738 | +59.1% |
| Profit (loss) for the period | 9904 | €58,410 | €98,333 | +€39,923 | +68.3% |
| Profit (loss) for the period to be appropriated | 9905 | €58,410 | €98,333 | +€39,923 | +68.3% |
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 27 September 2026 via checked.be.