B.K.W.: 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.
B.K.W.
Largest movements
- Receivables within one year +€53,962
up €53,962 (+40.2%), from €134,107 to €188,068
of which Trade receivables: +€52,155
- Tangible fixed assets +€35,789
up €35,789 (+70.8%), from €50,518 to €86,306
of which Furniture and vehicles: +€38,922
- Cash -€25,163
down €25,163 (-32.4%), from €77,587 to €52,424
mainly Investment in fixed assets (net) (-€60,004) and Receivables within one year (-€53,962)
- Deferred charges and accrued income -€5,888
down €5,888 (-41.3%), from €14,268 to €8,380
- Profit (loss) carried forward +€51,433
up €51,433 (+51.0%), from €100,868 to €152,300
- Other debts -€41,451
down €41,451 (-66.2%), from €62,645 to €21,194
- Debts after one year +€30,137
new in 2025: €30,137
- Trade debts +€23,192
up €23,192 (+108%), from €21,437 to €44,629
- Tax, wage and social debts -€22,775
down €22,775 (-50.2%), from €45,328 to €22,553
of which Taxes: -€22,335
- Gross operating margin +€27,028
up €27,028 (+30.1%), from €89,914 to €116,942
- Other operating charges +€15,683
up €15,683 (+578%), from €2,715 to €18,398
- Depreciation +€5,421
up €5,421 (+28.8%), from €18,795 to €24,215
- Taxes -€5,026
down €5,026 (-22.5%), from €22,303 to €17,277
- Staff costs -€2,339
down €2,339 (-39.9%), from €5,868 to €3,528
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 | €276,479 | €335,178 | +€58,700 | +21.2% |
| Fixed assets | 21/28 | €50,518 | €86,306 | +€35,789 | +70.8% |
| Tangible fixed assets | 22/27 | €50,518 | €86,306 | +€35,789 | +70.8% |
| Plant, machinery and equipment | 23 | €6,865 | €3,732 | -€3,134 | -45.6% |
| Furniture and vehicles | 24 | €43,652 | €82,575 | +€38,922 | +89.2% |
| Current assets | 29/58 | €225,961 | €248,872 | +€22,911 | +10.1% |
| Amounts receivable within one year | 40/41 | €134,107 | €188,068 | +€53,962 | +40.2% |
| Trade receivables | 40 | €134,107 | €186,262 | +€52,155 | +38.9% |
| Other amounts receivable | 41 | - | €1,806 | +€1,806 | |
| Cash at bank and in hand | 54/58 | €77,587 | €52,424 | -€25,163 | -32.4% |
| Deferred charges and accrued income | 490/1 | €14,268 | €8,380 | -€5,888 | -41.3% |
| Total equity and liabilities | 10/49 | €276,479 | €335,178 | +€58,700 | +21.2% |
| Equity | 10/15 | €147,068 | €198,500 | +€51,433 | +35.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €40,000 | €40,000 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,868 | €152,300 | +€51,433 | +51.0% |
| Amounts payable | 17/49 | €129,411 | €136,678 | +€7,267 | +5.6% |
| Amounts payable after more than one year | 17 | - | €30,137 | +€30,137 | |
| Financial debts | 170/4 | - | €30,137 | +€30,137 | |
| Amounts payable within one year | 42/48 | €129,411 | €106,541 | -€22,870 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | - | €18,165 | +€18,165 | |
| Trade debts | 44 | €21,437 | €44,629 | +€23,192 | +108% |
| Suppliers | 440/4 | €21,437 | €44,629 | +€23,192 | +108% |
| Taxes, remuneration and social security | 45 | €45,328 | €22,553 | -€22,775 | -50.2% |
| Taxes | 450/3 | €44,888 | €22,553 | -€22,335 | -49.8% |
| Remuneration and social security | 454/9 | €440 | - | -€440 | |
| Other amounts payable | 47/48 | €62,645 | €21,194 | -€41,451 | -66.2% |
| Remuneration, social security and pensions | 62 | €5,868 | €3,528 | -€2,339 | -39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,795 | €24,215 | +€5,421 | +28.8% |
| Other operating charges | 640/8 | €2,715 | €18,398 | +€15,683 | +578% |
| Gross operating margin | 9900 | €89,914 | €116,942 | +€27,028 | +30.1% |
| Operating profit (loss) | 9901 | €62,537 | €70,800 | +€8,263 | +13.2% |
| Financial charges | 65/66B | €192 | €2,090 | +€1,898 | +988% |
| Recurring financial charges | 65 | €192 | €2,090 | +€1,898 | +988% |
| Profit (loss) for the period before taxes | 9903 | €62,344 | €68,710 | +€6,365 | +10.2% |
| Income taxes | 67/77 | €22,303 | €17,277 | -€5,026 | -22.5% |
| Profit (loss) for the period | 9904 | €40,041 | €51,433 | +€11,391 | +28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €40,041 | €51,433 | +€11,391 | +28.4% |
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 21 October 2026 via checked.be.