BK PROJECTS: 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.
BK PROJECTS
Largest movements
- Stocks and contracts -€436,462
down €436,462 (-41.5%), from €1.1m to €614,783
of which Stocks: -€401,462
- Cash +€205,244
up €205,244 (+582.9%), from €35,211 to €240,454
mainly Stocks and contracts (+€436,462) and Net result for the year (+€30,445)
- Receivables within one year +€77,502
up €77,502 (+311.2%), from €24,902 to €102,404
of which Other amounts receivable: +€73,632
- Tangible fixed assets +€34,810
up €34,810 (+184.7%), from €18,844 to €53,654
of which Furniture and vehicles: +€39,082
- Short-term financial debts -€153,113
no longer reported in 2025 (was €153,113)
- Trade debts -€20,599
down €20,599 (-57.4%), from €35,876 to €15,277
- Debts after one year +€16,186
up €16,186 (+4.2%), from €382,500 to €398,686
- Current portion of long-term debt +€15,716
up €15,716 (+943.0%), from €1,667 to €17,383
- Reserves +€15,067
up €15,067 (+4.8%), from €315,793 to €330,860
- Gross operating margin -€32,169
down €32,169 (-27.8%), from €115,656 to €83,487
- Taxes -€5,370
down €5,370 (-37.8%), from €14,202 to €8,832
- Depreciation +€5,299
up €5,299 (+28.7%), from €18,456 to €23,755
- Other operating charges -€4,000
down €4,000 (-83.6%), from €4,787 to €787
- Financial charges -€2,231
down €2,231 (-11.2%), from €19,941 to €17,710
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 | €1,134,531 | €1,015,751 | -€118,779 | -10.5% |
| Fixed assets | 21/28 | €18,844 | €53,654 | +€34,810 | +184.7% |
| Tangible fixed assets | 22/27 | €18,844 | €53,654 | +€34,810 | +184.7% |
| Plant, machinery and equipment | 23 | €9,131 | €4,859 | -€4,272 | -46.8% |
| Furniture and vehicles | 24 | €9,713 | €48,795 | +€39,082 | +402.4% |
| Current assets | 29/58 | €1,115,686 | €962,097 | -€153,589 | -13.8% |
| Stocks and contracts in progress | 3 | €1,051,244 | €614,783 | -€436,462 | -41.5% |
| Stocks | 30/36 | €1,016,244 | €614,783 | -€401,462 | -39.5% |
| Contracts in progress | 37 | €35,000 | - | -€35,000 | |
| Amounts receivable within one year | 40/41 | €24,902 | €102,404 | +€77,502 | +311.2% |
| Trade receivables | 40 | €21,829 | €25,699 | +€3,870 | +17.7% |
| Other amounts receivable | 41 | €3,074 | €76,706 | +€73,632 | +2395.5% |
| Current investments | 50/53 | €2,480 | €2,480 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €35,211 | €240,454 | +€205,244 | +582.9% |
| Deferred charges and accrued income | 490/1 | €1,849 | €1,976 | +€127 | +6.8% |
| Total equity and liabilities | 10/49 | €1,134,531 | €1,015,751 | -€118,779 | -10.5% |
| Equity | 10/15 | €334,918 | €349,995 | +€15,076 | +4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €315,793 | €330,860 | +€15,067 | +4.8% |
| Distributable reserves | 133 | €315,793 | €330,860 | +€15,067 | +4.8% |
| Profit (loss) carried forward | 14 | €525 | €535 | +€9 | +1.8% |
| Amounts payable | 17/49 | €799,612 | €665,757 | -€133,855 | -16.7% |
| Amounts payable after more than one year | 17 | €382,500 | €398,686 | +€16,186 | +4.2% |
| Financial debts | 170/4 | €382,500 | €398,686 | +€16,186 | +4.2% |
| Amounts payable within one year | 42/48 | €417,112 | €267,071 | -€150,041 | -36.0% |
| Current portion of amounts payable after more than one year | 42 | €1,667 | €17,383 | +€15,716 | +943.0% |
| Financial debts | 43 | €153,113 | - | -€153,113 | |
| Credit institutions | 430/8 | €153,113 | - | -€153,113 | |
| Trade debts | 44 | €35,876 | €15,277 | -€20,599 | -57.4% |
| Suppliers | 440/4 | €35,876 | €15,277 | -€20,599 | -57.4% |
| Taxes, remuneration and social security | 45 | €5,527 | €9,520 | +€3,993 | +72.3% |
| Taxes | 450/3 | €5,527 | €9,520 | +€3,993 | +72.3% |
| Other amounts payable | 47/48 | €220,930 | €224,890 | +€3,961 | +1.8% |
| Non-recurring operating income | 76A | - | €2,715 | +€2,715 | |
| Remuneration, social security and pensions | 62 | €2,215 | €2,213 | -€2 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,456 | €23,755 | +€5,299 | +28.7% |
| Other operating charges | 640/8 | €4,787 | €787 | -€4,000 | -83.6% |
| Gross operating margin | 9900 | €115,656 | €83,487 | -€32,169 | -27.8% |
| Operating profit (loss) | 9901 | €90,198 | €56,732 | -€33,466 | -37.1% |
| Financial income | 75/76B | €23 | €254 | +€232 | +1020.1% |
| Recurring financial income | 75 | €23 | €254 | +€232 | +1020.1% |
| Financial charges | 65/66B | €19,941 | €17,710 | -€2,231 | -11.2% |
| Recurring financial charges | 65 | €19,941 | €17,710 | -€2,231 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €70,280 | €39,277 | -€31,004 | -44.1% |
| Income taxes | 67/77 | €14,202 | €8,832 | -€5,370 | -37.8% |
| Profit (loss) for the period | 9904 | €56,078 | €30,445 | -€25,633 | -45.7% |
| Profit (loss) for the period to be appropriated | 9905 | €56,078 | €30,445 | -€25,633 | -45.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.