Kuang 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.
Kuang Group
Largest movements
- Financial fixed assets +€1.0m
up €1.0m (+249%), from €406,756 to €1.4m
- Receivables within one year +€395,672
up €395,672 (+22.8%), from €1.7m to €2.1m
of which Trade receivables: +€321,121
- Cash +€202,162
up €202,162 (+550%), from €36,755 to €238,916
mainly Debts after one year (+€784,909) and Other debts (+€431,493)
- Stocks and contracts +€124,606
up €124,606 (+22.0%), from €566,023 to €690,629
- Current investments -€115,000
down €115,000 (-76.6%), from €150,039 to €35,039
- Debts after one year +€784,909
new in 2025: €784,909
- Other debts +€431,493
up €431,493 (+2,157%), from €20,000 to €451,493
- Current portion of long-term debt +€125,586
up €125,586 (+2,463%), from €5,100 to €130,685
- Tax, wage and social debts +€99,228
up €99,228 (+91.9%), from €107,932 to €207,161
- Reserves +€88,922
up €88,922 (+9.8%), from €907,994 to €996,915
of which Distributable reserves: +€88,922
- Gross operating margin +€233,207
up €233,207 (+99.7%), from €233,894 to €467,101
- Taxes +€66,783
up €66,783 (+87.6%), from €76,230 to €143,013
- Financial charges +€24,172
up €24,172 (+1,508%), from €1,603 to €25,776
- Financial income +€6,475
up €6,475 (+23.9%), from €27,138 to €33,612
- Depreciation -€5,033
down €5,033 (-37.9%), from €13,271 to €8,237
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 | €2,932,120 | €4,544,683 | +€1.6m | +55.0% |
| Fixed assets | 21/28 | €441,834 | €1,446,096 | +€1.0m | +227% |
| Tangible fixed assets | 22/27 | €35,078 | €26,840 | -€8,237 | -23.5% |
| Furniture and vehicles | 24 | €35,078 | €26,840 | -€8,237 | -23.5% |
| Financial fixed assets | 28 | €406,756 | €1,419,256 | +€1.0m | +249% |
| Current assets | 29/58 | €2,490,286 | €3,098,587 | +€608,301 | +24.4% |
| Stocks and contracts in progress | 3 | €566,023 | €690,629 | +€124,606 | +22.0% |
| Stocks | 30/36 | €566,023 | €690,629 | +€124,606 | +22.0% |
| Amounts receivable within one year | 40/41 | €1,737,469 | €2,133,141 | +€395,672 | +22.8% |
| Trade receivables | 40 | €227,568 | €548,689 | +€321,121 | +141% |
| Other amounts receivable | 41 | €1,509,901 | €1,584,452 | +€74,551 | +4.9% |
| Current investments | 50/53 | €150,039 | €35,039 | -€115,000 | -76.6% |
| Cash at bank and in hand | 54/58 | €36,755 | €238,916 | +€202,162 | +550% |
| Deferred charges and accrued income | 490/1 | - | €861 | +€861 | |
| Total equity and liabilities | 10/49 | €2,932,120 | €4,544,683 | +€1.6m | +55.0% |
| Equity | 10/15 | €2,781,310 | €2,870,232 | +€88,922 | +3.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €907,994 | €996,915 | +€88,922 | +9.8% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €906,139 | €995,060 | +€88,922 | +9.8% |
| Profit (loss) carried forward | 14 | €1,860,916 | €1,860,916 | = | 0.0% |
| Amounts payable | 17/49 | €150,810 | €1,674,452 | +€1.5m | +1,010% |
| Amounts payable after more than one year | 17 | - | €784,909 | +€784,909 | |
| Financial debts | 170/4 | - | €784,909 | +€784,909 | |
| Amounts payable within one year | 42/48 | €150,810 | €889,542 | +€738,732 | +490% |
| Current portion of amounts payable after more than one year | 42 | €5,100 | €130,685 | +€125,586 | +2,463% |
| Trade debts | 44 | €17,778 | €100,203 | +€82,425 | +464% |
| Suppliers | 440/4 | €17,778 | €100,203 | +€82,425 | +464% |
| Taxes, remuneration and social security | 45 | €107,932 | €207,161 | +€99,228 | +91.9% |
| Taxes | 450/3 | €107,932 | €207,161 | +€99,228 | +91.9% |
| Other amounts payable | 47/48 | €20,000 | €451,493 | +€431,493 | +2,157% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,271 | €8,237 | -€5,033 | -37.9% |
| Other operating charges | 640/8 | €2,645 | €2,554 | -€91 | -3.4% |
| Gross operating margin | 9900 | €233,894 | €467,101 | +€233,207 | +99.7% |
| Operating profit (loss) | 9901 | €217,978 | €456,310 | +€238,331 | +109% |
| Financial income | 75/76B | €27,138 | €33,612 | +€6,475 | +23.9% |
| Recurring financial income | 75 | €27,138 | €33,612 | +€6,475 | +23.9% |
| Financial charges | 65/66B | €1,603 | €25,776 | +€24,172 | +1,508% |
| Recurring financial charges | 65 | €1,603 | €25,776 | +€24,172 | +1,508% |
| Profit (loss) for the period before taxes | 9903 | €243,513 | €464,146 | +€220,633 | +90.6% |
| Income taxes | 67/77 | €76,230 | €143,013 | +€66,783 | +87.6% |
| Profit (loss) for the period | 9904 | €167,283 | €321,133 | +€153,851 | +92.0% |
| Profit (loss) for the period to be appropriated | 9905 | €167,283 | €321,133 | +€153,851 | +92.0% |
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 22 October 2026 via checked.be.