2KL: 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.
2KL
Largest movements
- Receivables within one year +€742,703
up €742,703 (+61.3%), from €1.2m to €2.0m
of which Trade receivables: +€636,666
- Cash -€272,668
down €272,668 (-24.7%), from €1.1m to €830,220
mainly Receivables within one year (-€742,703) and Contributions, distributions and other (-€371,051)
- Tangible fixed assets +€148,544
up €148,544 (+88.6%), from €167,619 to €316,163
of which Other tangible fixed assets: +€185,110
- Trade debts +€272,680
up €272,680 (+22.5%), from €1.2m to €1.5m
- Reserves +€163,606
up €163,606 (+6.9%), from €2.4m to €2.5m
of which Distributable reserves: +€171,189
- Tax, wage and social debts +€127,781
up €127,781 (+143.3%), from €89,182 to €216,963
of which Remuneration and social security: +€80,376
- Gross operating margin +€480,909
up €480,909 (+30.1%), from €1.6m to €2.1m
- Staff costs +€178,018
up €178,018 (+16.6%), from €1.1m to €1.2m
- Taxes +€79,463
up €79,463 (+48.0%), from €165,499 to €244,962
- Financial income +€34,401
up €34,401 (+82.6%), from €41,636 to €76,037
- Depreciation +€24,434
up €24,434 (+34.5%), from €70,774 to €95,208
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 | €3,853,724 | €4,448,696 | +€594,972 | +15.4% |
| Fixed assets | 21/28 | €188,426 | €334,647 | +€146,221 | +77.6% |
| Intangible fixed assets | 21 | €17,807 | €15,484 | -€2,323 | -13.0% |
| Tangible fixed assets | 22/27 | €167,619 | €316,163 | +€148,544 | +88.6% |
| Land and buildings | 22 | €84,449 | - | -€84,449 | |
| Plant, machinery and equipment | 23 | €31,762 | €70,288 | +€38,526 | +121.3% |
| Furniture and vehicles | 24 | €51,409 | €60,766 | +€9,357 | +18.2% |
| Other tangible fixed assets | 26 | - | €185,110 | +€185,110 | |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €3,665,298 | €4,114,049 | +€448,751 | +12.2% |
| Amounts receivable after more than one year | 29 | €918,973 | €885,381 | -€33,593 | -3.7% |
| Other amounts receivable | 291 | €918,973 | €885,381 | -€33,593 | -3.7% |
| Stocks and contracts in progress | 3 | €430,810 | €443,221 | +€12,411 | +2.9% |
| Stocks | 30/36 | €430,810 | €443,221 | +€12,411 | +2.9% |
| Amounts receivable within one year | 40/41 | €1,212,025 | €1,954,727 | +€742,703 | +61.3% |
| Trade receivables | 40 | €757,747 | €1,394,414 | +€636,666 | +84.0% |
| Other amounts receivable | 41 | €454,277 | €560,313 | +€106,036 | +23.3% |
| Current investments | 50/53 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,102,888 | €830,220 | -€272,668 | -24.7% |
| Deferred charges and accrued income | 490/1 | €102 | - | -€102 | |
| Total equity and liabilities | 10/49 | €3,853,724 | €4,448,696 | +€594,972 | +15.4% |
| Equity | 10/15 | €2,380,935 | €2,544,541 | +€163,606 | +6.9% |
| Contributions | 10/11 | €16,314 | €16,314 | = | 0.0% |
| Reserves | 13 | €2,364,620 | €2,528,226 | +€163,606 | +6.9% |
| Tax-exempt reserves | 132 | €58,756 | €51,174 | -€7,583 | -12.9% |
| Distributable reserves | 133 | €2,305,864 | €2,477,053 | +€171,189 | +7.4% |
| Amounts payable | 17/49 | €1,472,789 | €1,904,155 | +€431,366 | +29.3% |
| Amounts payable after more than one year | 17 | - | €14,877 | +€14,877 | |
| Financial debts | 170/4 | - | €14,877 | +€14,877 | |
| Amounts payable within one year | 42/48 | €1,445,389 | €1,887,563 | +€442,173 | +30.6% |
| Current portion of amounts payable after more than one year | 42 | - | €10,700 | +€10,700 | |
| Financial debts | 43 | €144,334 | €175,346 | +€31,012 | +21.5% |
| Credit institutions | 430/8 | €144,334 | €175,346 | +€31,012 | +21.5% |
| Trade debts | 44 | €1,211,874 | €1,484,554 | +€272,680 | +22.5% |
| Suppliers | 440/4 | €1,211,874 | €1,484,554 | +€272,680 | +22.5% |
| Taxes, remuneration and social security | 45 | €89,182 | €216,963 | +€127,781 | +143.3% |
| Taxes | 450/3 | - | €47,405 | +€47,405 | |
| Remuneration and social security | 454/9 | €89,182 | €169,558 | +€80,376 | +90.1% |
| Accrued charges and deferred income | 492/3 | €27,400 | €1,716 | -€25,684 | -93.7% |
| Non-recurring operating income | 76A | €283 | €2,731 | +€2,448 | +863.5% |
| Remuneration, social security and pensions | 62 | €1,070,825 | €1,248,843 | +€178,018 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,774 | €95,208 | +€24,434 | +34.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,019 | - | +€1,019 | |
| Other operating charges | 640/8 | €9,336 | €25,681 | +€16,345 | +175.1% |
| Gross operating margin | 9900 | €1,598,078 | €2,078,987 | +€480,909 | +30.1% |
| Operating profit (loss) | 9901 | €448,162 | €709,255 | +€261,093 | +58.3% |
| Financial income | 75/76B | €41,636 | €76,037 | +€34,401 | +82.6% |
| Recurring financial income | 75 | €41,636 | €76,037 | +€34,401 | +82.6% |
| Financial charges | 65/66B | €17,338 | €8,251 | -€9,087 | -52.4% |
| Recurring financial charges | 65 | €17,338 | €8,251 | -€9,087 | -52.4% |
| Profit (loss) for the period before taxes | 9903 | €472,460 | €777,041 | +€304,581 | +64.5% |
| Transfer from deferred taxes | 780 | €2,578 | €2,578 | = | 0.0% |
| Income taxes | 67/77 | €165,499 | €244,962 | +€79,463 | +48.0% |
| Profit (loss) for the period | 9904 | €309,538 | €534,657 | +€225,118 | +72.7% |
| Transfer from tax-exempt reserves | 789 | €5,005 | €5,005 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €314,543 | €539,662 | +€225,118 | +71.6% |
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 2 October 2026 via checked.be.