K&C COMPANY
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 37 days after the deadline Filed on 6 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00503806.
Annual accounts 2025 filed on 06-09-2026 at the NBB all 5 filings
Turnover
€860,996▲ 64.6%
2023 · €523,226
EBIT margin
9.8%▲ 2.9pp
2023 · 6.9%
Net result
€52,256▲ 24.7%
2024 · €41,910
Working capital
€125,341▲ 28.3%
2024 · €97,705
Multi-year overview
2021 to 2025, 5 financial yearsTurnover
€860,996
2025
20212025
Operating result
€84,532
▲ 15.8%
2025
20212025
Net result
€52,256
▲ 24.7%
2025
highest quarter of the sector
20212025
EBIT margin
9.8%
2025
20212025
Equity
€151,009
▲ 52.9%
2025
highest quarter of the sector
20212025
Total assets
€230,564
▲ 52.1%
2025
middle half of the sector
20212025
Debt
€79,555
▲ 50.7%
2025
20212025
Working capital
€125,341
▲ 28.3%
2025
highest quarter of the sector
20212025
Solvency
65.5%
▲ 0.3pp
2025
middle half of the sector
20212025
Current ratio
2.58
▼ 0.27
2025
middle half of the sector
20212025
Return on assets (ROA)
22.7%
▼ 5.0pp
2025
highest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Turnover€344,794-€326,443▼ 5.3%€523,226▲ 60.3%€860,996
Operating result€28,147-€13,855▼ 50.8%€36,219▲ 161%€72,974▲ 101%€84,532▲ 15.8%
Net result€25,373within the sector's middle half-€7,074within the sector's middle half▼ 72.1%€22,396within the sector's middle half▲ 217%€41,910above the sector's middle half▲ 87.1%€52,256above the sector's middle half▲ 24.7%
EBIT margin8.2%-4.2%▼ 3.9pp6.9%▲ 2.7pp9.8%
Equity€27,373within the sector's middle half-€34,447within the sector's middle half▲ 25.8%€56,843within the sector's middle half▲ 65.0%€98,753within the sector's middle half▲ 73.7%€151,009above the sector's middle half▲ 52.9%
Total assets€65,151below the sector's middle half-€90,254within the sector's middle half▲ 38.5%€157,623within the sector's middle half▲ 74.6%€151,557within the sector's middle half▼ 3.8%€230,564within the sector's middle half▲ 52.1%
Debt€37,778-€55,807▲ 47.7%€100,780▲ 80.6%€52,804▼ 47.6%€79,555▲ 50.7%
Working capital€21,596within the sector's middle half-€32,184within the sector's middle half▲ 49.0%€54,764within the sector's middle half▲ 70.2%€97,705above the sector's middle half▲ 78.4%€125,341above the sector's middle half▲ 28.3%
Solvency42.0%within the sector's middle half-38.2%within the sector's middle half▼ 3.8pp36.1%within the sector's middle half▼ 2.1pp65.2%within the sector's middle half▲ 29.1pp65.5%within the sector's middle half▲ 0.3pp
Current ratio1.57within the sector's middle half-1.59within the sector's middle half▲ 0.021.54within the sector's middle half▼ 0.052.85within the sector's middle half▲ 1.312.58within the sector's middle half▼ 0.27
Return on assets (ROA)38.9%above the sector's middle half-7.8%within the sector's middle half▼ 31.1pp14.2%within the sector's middle half▲ 6.4pp27.7%above the sector's middle half▲ 13.4pp22.7%above the sector's middle half▼ 5.0pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 16% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €230,564
Fixed assets
€25,667 ▲ 24×
Current assets
€204,897 ▲ 36.1%
Equity and liabilities €230,564
Equity
€151,009 ▲ 52.9%
Debt
€79,555 ▲ 50.7%
Debt's share of the balance-sheet total falls from 34.8% to 34.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€87,568▲
2024 · €74,004
Cash flow
€55,292▲
2024 · €42,940
Debt to equity
0.53▼
2024 · 0.53
ROE
34.6%▼
2024 · 42.4%
Interest coverage
54.72▲
2024 · 50.55
Debt ≤ 1 year
€79,555▲
2024 · €52,804
Debt > 1 year
€0=
2024 · €0
Income taxes
€30,676▲
2024 · €29,600
Customer credit
16 days
Supplier credit
15 days▼
2024 · 20 days
Staff costs
€81,544▲
2024 · €279
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €14,890 | €2,740 | - | - | €27,655 |
| Depreciation and write-downs of the year | €4,934 | €4,863 | €1,039 | €1,030 | €3,036 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €344,794 | €326,443 | €523,226 | - | €860,996 | - |
| Non-recurring operating income76A | - | - | - | - | €0 | - |
| Goods, raw materials, services and sundry goods60/61 | - | €292,702 | €480,861 | €502,005 | €670,420 | ▲ 33.5% |
| Remuneration, social security and pensions62 | €26,958 | €11,725 | - | €279 | €81,544 | ▲ 292× |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,934 | €4,863 | €1,039 | €1,030 | €3,036 | ▲ 195% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0 | €0 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0 | €0 | - |
| Other operating charges640/8 | €7,480 | €3,297 | €5,106 | €4,433 | €23,117 | ▲ 421% |
| Operating charges capitalised as restructuring costs649 | - | - | - | €0 | €0 | - |
| Non-recurring operating charges66A | - | - | - | - | €0 | - |
| Gross operating margin9900 | €67,519 | €33,741 | €42,365 | €78,716 | €192,229 | ▲ 144% |
| Operating profit (loss)9901 | €28,147 | €13,855 | €36,219 | €72,974 | €84,532 | ▲ 15.8% |
| Financial income75/76B | - | - | - | €0 | €0 | - |
| Recurring financial income75 | - | - | - | €0 | €0 | - |
| Non-recurring financial income76B | - | - | - | - | €0 | - |
| Financial charges65/66B | €0 | €4,423 | €1,252 | €1,464 | €1,600 | ▲ 9.3% |
| Recurring financial charges65 | €0 | €4,423 | €1,252 | €1,464 | €1,600 | ▲ 9.3% |
| Non-recurring financial charges66B | - | - | - | - | €0 | - |
| Profit (loss) for the period before taxes9903 | €28,147 | €9,432 | €34,967 | €71,510 | €82,932 | ▲ 16.0% |
| Transfer from deferred taxes780 | - | - | - | €0 | €0 | - |
| Transfer to deferred taxes680 | - | - | - | €0 | €0 | - |
| Income taxes67/77 | €2,774 | €2,358 | €12,571 | €29,600 | €30,676 | ▲ 3.6% |
| Profit (loss) for the period9904 | €25,373 | €7,074 | €22,396 | €41,910 | €52,256 | ▲ 24.7% |
| Transfer from tax-exempt reserves789 | - | - | - | €0 | €0 | - |
| Transfer to tax-exempt reserves689 | - | - | - | €0 | €0 | - |
| Profit (loss) for the period to be appropriated9905 | €25,373 | €7,074 | €22,396 | €41,910 | €52,256 | ▲ 24.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €65,151 | €90,254 | €157,623 | €151,557 | €230,564 | ▲ 52.1% |
| Formation expenses20 | - | - | - | €0 | €0 | - |
| Fixed assets21/28 | €5,776 | €3,653 | €2,078 | €1,048 | €25,667 | ▲ 24× |
| Intangible fixed assets21 | - | - | - | €0 | €0 | - |
| Tangible fixed assets22/27 | €5,776 | €3,653 | €2,078 | €1,048 | €25,667 | ▲ 24× |
| Land and buildings22 | - | - | - | €0 | €0 | - |
| Plant, machinery and equipment23 | - | - | - | €0 | €0 | - |
| Furniture and vehicles24 | €5,776 | €3,653 | €2,078 | €1,048 | €25,667 | ▲ 24× |
| Leasing and similar rights25 | - | - | - | €0 | €0 | - |
| Other tangible fixed assets26 | - | - | - | €0 | €0 | - |
| Assets under construction and advance payments27 | - | - | - | €0 | €0 | - |
| Financial fixed assets28 | - | - | - | €0 | €0 | - |
| Current assets29/58 | €59,374 | €86,600 | €155,545 | €150,509 | €204,897 | ▲ 36.1% |
| Amounts receivable after more than one year29 | - | - | - | €0 | €0 | - |
| Trade receivables290 | - | - | - | €0 | €0 | - |
| Other amounts receivable291 | - | - | - | €0 | €0 | - |
| Stocks and contracts in progress3 | - | - | - | €0 | €0 | - |
| Stocks30/36 | - | - | - | €0 | €0 | - |
| Contracts in progress37 | - | - | - | €0 | €0 | - |
| Amounts receivable within one year40/41 | €59,211 | €63,473 | €122,318 | €127,706 | €124,016 | ▼ 2.9% |
| Trade receivables40 | €51,255 | €58,158 | €113,469 | €83,230 | €36,875 | ▼ 55.7% |
| Other amounts receivable41 | €7,956 | €5,315 | €8,849 | €44,476 | €87,141 | ▲ 95.9% |
| Current investments50/53 | - | - | - | €0 | €0 | - |
| Cash at bank and in hand54/58 | €163 | €23,127 | €33,227 | €22,803 | €80,639 | ▲ 254% |
| Deferred charges and accrued income490/1 | - | - | - | €0 | €241 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €65,151 | €90,254 | €157,623 | €151,557 | €230,564 | ▲ 52.1% |
| Equity10/15 | €27,373 | €34,447 | €56,843 | €98,753 | €151,009 | ▲ 52.9% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Revaluation surpluses12 | - | - | - | €0 | €0 | - |
| Reserves13 | €416 | €416 | €416 | €416 | €416 | = |
| Non-distributable reserves130/1 | - | €416 | €416 | €416 | €416 | = |
| Reserves not available under the articles1311 | - | €416 | €416 | €416 | €416 | = |
| Own shares acquired1312 | - | - | - | €0 | €0 | - |
| Financial assistance1313 | - | - | - | €0 | €0 | - |
| Other1319 | - | - | - | €0 | €0 | - |
| Tax-exempt reserves132 | - | - | - | €0 | €0 | - |
| Distributable reserves133 | €416 | - | - | €0 | €0 | - |
| Profit (loss) carried forward14 | €24,957 | €32,031 | €54,427 | €96,337 | €148,593 | ▲ 54.2% |
| Investment grants15 | - | - | - | €0 | €0 | - |
| Advance to shareholders on the distribution of net assets19 | - | - | - | €0 | €0 | - |
| Provisions and deferred taxes16 | - | - | - | €0 | €0 | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0 | €0 | - |
| Pensions and similar obligations160 | - | - | - | €0 | €0 | - |
| Taxes161 | - | - | - | €0 | €0 | - |
| Major repairs and maintenance162 | - | - | - | €0 | €0 | - |
| Environmental obligations163 | - | - | - | €0 | €0 | - |
| Other liabilities and charges164/5 | - | - | - | €0 | €0 | - |
| Deferred taxes168 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €37,778 | €55,807 | €100,780 | €52,804 | €79,555 | ▲ 50.7% |
| Amounts payable after more than one year17 | - | €1,391 | - | €0 | €0 | - |
| Financial debts170/4 | - | €1,391 | - | €0 | €0 | - |
| Trade debts175 | - | - | - | €0 | €0 | - |
| Advances received on contracts in progress176 | - | - | - | €0 | €0 | - |
| Other amounts payable178/9 | - | - | - | €0 | €0 | - |
| Amounts payable within one year42/48 | €37,778 | €54,416 | €100,780 | €52,804 | €79,555 | ▲ 50.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0 | €0 | - |
| Financial debts43 | - | - | - | €0 | €0 | - |
| Credit institutions430/8 | - | - | - | €0 | €0 | - |
| Other loans439 | - | - | - | €0 | €0 | - |
| Trade debts44 | €27,954 | €45,160 | €81,915 | €26,883 | €27,200 | ▲ 1.2% |
| Suppliers440/4 | €27,954 | €45,160 | €81,915 | €26,883 | €27,200 | ▲ 1.2% |
| Bills of exchange payable441 | - | - | - | €0 | €0 | - |
| Advances received on contracts in progress46 | - | - | - | €0 | €0 | - |
| Taxes, remuneration and social security45 | €2,774 | €5,132 | €17,704 | €24,760 | €51,194 | ▲ 107% |
| Taxes450/3 | €2,774 | €5,132 | €17,704 | €24,760 | €38,217 | ▲ 54.4% |
| Remuneration and social security454/9 | - | - | - | €0 | €12,976 | - |
| Other amounts payable47/48 | €7,050 | €4,123 | €1,162 | €1,162 | €1,162 | = |
| Accrued charges and deferred income492/3 | - | - | - | €0 | €0 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,373 | €7,074 | €22,396 | €41,910 | €52,256 | ▲ 24.7% |
| + Depreciation and write-downs630 | €4,934 | €4,863 | €1,039 | €1,030 | €3,036 | ▲ 195% |
| Operating cash flow (approximation) | €30,307 | €11,937 | €23,435 | €42,940 | €55,292 | ▲ 28.8% |
| Investment in fixed assets (approximation) | - | -€2,740 | €536 | €0 | -€27,655 | - |
| Change in cash | - | €22,964 | €10,099 | -€10,424 | €57,836 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 26,972 companies had the same profile as K&C COMPANY has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of K&C COMPANY itself: 0.7% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for K&C COMPANY. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 06-09-2026 | 2026-00503806 | |
| 31-12-2024 | micro format | 02-06-2026 | 2026-00132269 | |
| 31-12-2023 | micro format | 11-07-2024 | 2024-00248951 | |
| 31-12-2022 | micro format | 12-04-2024 | 2024-00062004 | |
| 31-12-2021 | micro format | 12-04-2024 | 2024-00061957 |