AK 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.
AK GROUP
Largest movements
- Stocks and contracts +€161,424
up €161,424 (+34.5%), from €468,397 to €629,821
- Receivables within one year +€65,069
up €65,069 (+182%), from €35,769 to €100,838
- Tangible fixed assets +€23,086
up €23,086 (+28.3%), from €81,458 to €104,544
of which Other tangible fixed assets: +€23,636
- Other debts +€209,578
up €209,578 (+419%), from €50,000 to €259,578
- Short-term financial debts +€122,147
up €122,147 (+57.7%), from €211,764 to €333,912
- Advances received -€57,220
down €57,220 (-94.3%), from €60,700 to €3,480
- Debts after one year -€19,531
down €19,531 (-24.1%), from €80,897 to €61,366
- Profit (loss) carried forward -€14,285
down €14,285 (-8.3%), from €171,320 to €157,035
- Gross operating margin +€105,187
up €105,187 (+66.6%), from €157,973 to €263,160
- Taxes +€24,557
up €24,557 (+89.3%), from €27,500 to €52,057
- Financial charges +€5,341
up €5,341 (+26.5%), from €20,159 to €25,501
- Depreciation +€4,989
up €4,989 (+43.1%), from €11,568 to €16,557
- Other operating charges -€3,049
down €3,049 (-41.1%), from €7,413 to €4,363
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 | €612,698 | €862,464 | +€249,766 | +40.8% |
| Fixed assets | 21/28 | €86,324 | €109,410 | +€23,086 | +26.7% |
| Tangible fixed assets | 22/27 | €81,458 | €104,544 | +€23,086 | +28.3% |
| Furniture and vehicles | 24 | €18,923 | €18,373 | -€550 | -2.9% |
| Other tangible fixed assets | 26 | €62,535 | €86,171 | +€23,636 | +37.8% |
| Financial fixed assets | 28 | €4,866 | €4,866 | = | 0.0% |
| Current assets | 29/58 | €526,374 | €753,054 | +€226,680 | +43.1% |
| Stocks and contracts in progress | 3 | €468,397 | €629,821 | +€161,424 | +34.5% |
| Stocks | 30/36 | €468,397 | €629,821 | +€161,424 | +34.5% |
| Amounts receivable within one year | 40/41 | €35,769 | €100,838 | +€65,069 | +182% |
| Other amounts receivable | 41 | €35,769 | €100,838 | +€65,069 | +182% |
| Cash at bank and in hand | 54/58 | €5,381 | €10,172 | +€4,791 | +89.0% |
| Deferred charges and accrued income | 490/1 | €16,827 | €12,223 | -€4,604 | -27.4% |
| Total equity and liabilities | 10/49 | €612,698 | €862,464 | +€249,766 | +40.8% |
| Equity | 10/15 | €173,320 | €159,035 | -€14,285 | -8.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €171,320 | €157,035 | -€14,285 | -8.3% |
| Amounts payable | 17/49 | €439,378 | €703,429 | +€264,051 | +60.1% |
| Amounts payable after more than one year | 17 | €80,897 | €61,366 | -€19,531 | -24.1% |
| Financial debts | 170/4 | €80,897 | €61,366 | -€19,531 | -24.1% |
| Amounts payable within one year | 42/48 | €358,480 | €642,063 | +€283,582 | +79.1% |
| Current portion of amounts payable after more than one year | 42 | €19,103 | €22,303 | +€3,200 | +16.8% |
| Financial debts | 43 | €211,764 | €333,912 | +€122,147 | +57.7% |
| Credit institutions | 430/8 | €211,764 | €333,912 | +€122,147 | +57.7% |
| Trade debts | 44 | €14,663 | €19,659 | +€4,996 | +34.1% |
| Suppliers | 440/4 | €14,663 | €19,659 | +€4,996 | +34.1% |
| Advances received on contracts in progress | 46 | €60,700 | €3,480 | -€57,220 | -94.3% |
| Taxes, remuneration and social security | 45 | €2,250 | €3,131 | +€881 | +39.1% |
| Taxes | 450/3 | €2,250 | €3,131 | +€881 | +39.1% |
| Other amounts payable | 47/48 | €50,000 | €259,578 | +€209,578 | +419% |
| Remuneration, social security and pensions | 62 | - | €166 | +€166 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,568 | €16,557 | +€4,989 | +43.1% |
| Other operating charges | 640/8 | €7,413 | €4,363 | -€3,049 | -41.1% |
| Gross operating margin | 9900 | €157,973 | €263,160 | +€105,187 | +66.6% |
| Operating profit (loss) | 9901 | €138,992 | €242,074 | +€103,082 | +74.2% |
| Financial income | 75/76B | €2,050 | €1,198 | -€852 | -41.6% |
| Recurring financial income | 75 | €2,050 | €1,198 | -€852 | -41.6% |
| Financial charges | 65/66B | €20,159 | €25,501 | +€5,341 | +26.5% |
| Recurring financial charges | 65 | €20,159 | €25,501 | +€5,341 | +26.5% |
| Profit (loss) for the period before taxes | 9903 | €120,882 | €217,772 | +€96,889 | +80.2% |
| Income taxes | 67/77 | €27,500 | €52,057 | +€24,557 | +89.3% |
| Profit (loss) for the period | 9904 | €93,382 | €165,715 | +€72,333 | +77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €93,382 | €165,715 | +€72,333 | +77.5% |
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 27 October 2026 via checked.be.