BKC: 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.
What changed
BKC
NACE 42.220, Construction of utility projects for electricity and telecommunications
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €1.4m-€369,030
Equity
€5.1m
2024 · €4.0m+€1.1m
Cash
€1.3m
2024 · €1.2m+€81,985
Balance sheet total
€8.8m
2024 · €7.2m+€1.6m
Largest movements
Assets
- Receivables within one year +€1.4m
up €1.4m (+35.5%), from €4.0m to €5.4m
of which Trade receivables: +€1.5m
- Receivables after one year +€239,502
new in 2025: €239,502
- Tangible fixed assets -€161,198
down €161,198 (-16.0%), from €1.0m to €848,774
of which Furniture and vehicles: -€116,328
Equity and liabilities
- Profit (loss) carried forward +€1.1m
up €1.1m (+201.4%), from €535,936 to €1.6m
- Trade debts +€360,204
up €360,204 (+18.1%), from €2.0m to €2.4m
- Provisions +€212,502
new in 2025: €212,502
- Short-term financial debts +€145,947
up €145,947 (+87.3%), from €167,162 to €313,109
- Tax, wage and social debts -€128,154
down €128,154 (-29.2%), from €438,794 to €310,639
of which Taxes: -€124,651
Income statement
- Turnover +€14.1m
new in 2025: €14.1m
- Goods and materials +€5.2m
new in 2025: €5.2m
of which Purchases: +€5.4m
- Gross operating margin -€4.8m
no longer reported in 2025 (was €4.8m)
- Services and other goods +€3.7m
new in 2025: €3.7m
- Staff costs +€557,362
up €557,362 (+25.2%), from €2.2m to €2.8m
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.
Result 2024
€1.4m
Turnover
+€14.1m
Other operating income
+€75,332
Goods and materials
-€5.2m
Services and other goods
-€3.7m
Staff costs
-€557,362
Depreciation
-€55,141
Write-downs
+€46,123
Provisions
-€212,502
Other operating charges
-€28,492
Other operating items
-€5.0m
Financial income
+€2,248
Financial charges
-€14,263
Taxes
+€154,209
Result 2025
€1.1m
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.
From operations
+€274,028
Investment
-€280,991
Financing
+€88,948
Cash 2024
€1.2m
From operations (derived)
+€274,028
Net result for the year
+€1.1m
Depreciation
+€398,977
Receivables after one year
-€239,502
Stocks and contracts
+€70,992
Receivables within one year
-€1.4m
Deferred charges and accrued income
-€66,060
Provisions
+€212,502
Trade debts
+€360,204
Tax, wage and social debts
-€128,154
Other debts
-€13,321
Accrued charges and deferred income
+€10,823
Investment (derived)
-€280,991
Investment in fixed assets (net)
-€280,991
Financing
+€88,948
Debts after one year
-€57,090
Current portion of long-term debt
+€91
Short-term financial debts
+€145,947
Cash 2025
€1.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,165,548 | €8,775,667 | +€1.6m | +22.5% |
| Fixed assets | 21/28 | €1,011,107 | €893,121 | -€117,986 | -11.7% |
| Intangible fixed assets | 21 | €0 | €43,172 | +€43,172 | |
| Tangible fixed assets | 22/27 | €1,009,972 | €848,774 | -€161,198 | -16.0% |
| Plant, machinery and equipment | 23 | €184,290 | €124,357 | -€59,933 | -32.5% |
| Furniture and vehicles | 24 | €382,304 | €265,976 | -€116,328 | -30.4% |
| Leasing and similar rights | 25 | €365,363 | €399,187 | +€33,824 | +9.3% |
| Other tangible fixed assets | 26 | €78,015 | €59,255 | -€18,760 | -24.0% |
| Financial fixed assets | 28 | €1,135 | €1,175 | +€40 | +3.5% |
| Other financial fixed assets | 284/8 | - | €1,175 | +€1,175 | |
| Amounts receivable and cash guarantees | 285/8 | - | €1,175 | +€1,175 | |
| Current assets | 29/58 | €6,154,442 | €7,882,545 | +€1.7m | +28.1% |
| Amounts receivable after more than one year | 29 | - | €239,502 | +€239,502 | |
| Other amounts receivable | 291 | - | €239,502 | +€239,502 | |
| Stocks and contracts in progress | 3 | €795,664 | €724,673 | -€70,992 | -8.9% |
| Stocks | 30/36 | - | €173,146 | +€173,146 | |
| Raw materials and consumables | 30/31 | - | €173,146 | +€173,146 | |
| Contracts in progress | 37 | €795,664 | €551,527 | -€244,138 | -30.7% |
| Amounts receivable within one year | 40/41 | €3,970,827 | €5,382,376 | +€1.4m | +35.5% |
| Trade receivables | 40 | €3,495,844 | €4,991,818 | +€1.5m | +42.8% |
| Other amounts receivable | 41 | €474,984 | €390,558 | -€84,426 | -17.8% |
| Cash at bank and in hand | 54/58 | €1,247,363 | €1,329,348 | +€81,985 | +6.6% |
| Deferred charges and accrued income | 490/1 | €140,587 | €206,647 | +€66,060 | +47.0% |
| Total equity and liabilities | 10/49 | €7,165,548 | €8,775,667 | +€1.6m | +22.5% |
| Equity | 10/15 | €4,017,250 | €5,096,367 | +€1.1m | +26.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,462,715 | €3,462,715 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €3,462,715 | €3,462,715 | = | 0.0% |
| Profit (loss) carried forward | 14 | €535,936 | €1,615,052 | +€1.1m | +201.4% |
| Provisions and deferred taxes | 16 | - | €212,502 | +€212,502 | |
| Provisions for liabilities and charges | 160/5 | - | €212,502 | +€212,502 | |
| Other liabilities and charges | 164/5 | - | €212,502 | +€212,502 | |
| Amounts payable | 17/49 | €3,148,298 | €3,466,798 | +€318,499 | +10.1% |
| Amounts payable after more than one year | 17 | €252,891 | €195,800 | -€57,090 | -22.6% |
| Financial debts | 170/4 | €252,891 | €195,800 | -€57,090 | -22.6% |
| Leasing and similar obligations | 172 | - | €162,864 | +€162,864 | |
| Credit institutions | 173 | - | €32,937 | +€32,937 | |
| Amounts payable within one year | 42/48 | €2,895,332 | €3,260,099 | +€364,767 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €260,192 | €260,283 | +€91 | 0.0% |
| Financial debts | 43 | €167,162 | €313,109 | +€145,947 | +87.3% |
| Credit institutions | 430/8 | €167,162 | €313,109 | +€145,947 | +87.3% |
| Trade debts | 44 | €1,994,606 | €2,354,809 | +€360,204 | +18.1% |
| Suppliers | 440/4 | €1,994,606 | €2,354,809 | +€360,204 | +18.1% |
| Taxes, remuneration and social security | 45 | €438,794 | €310,639 | -€128,154 | -29.2% |
| Taxes | 450/3 | €223,418 | €98,767 | -€124,651 | -55.8% |
| Remuneration and social security | 454/9 | €215,376 | €211,872 | -€3,504 | -1.6% |
| Other amounts payable | 47/48 | €34,579 | €21,257 | -€13,321 | -38.5% |
| Accrued charges and deferred income | 492/3 | €76 | €10,899 | +€10,823 | +14312.5% |
| Operating income | 70/76A | - | €13,990,042 | +€14.0m | |
| Turnover | 70 | - | €14,133,454 | +€14.1m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | -€244,138 | -€244,138 | |
| Other operating income | 74 | - | €75,332 | +€75,332 | |
| Non-recurring operating income | 76A | - | €25,394 | +€25,394 | |
| Operating charges | 60/66A | - | €12,445,560 | +€12.4m | |
| Goods for resale, raw materials and consumables | 60 | - | €5,222,871 | +€5.2m | |
| Purchases | 600/8 | - | €5,396,017 | +€5.4m | |
| Change in stocks: decrease (increase) | 609 | - | -€173,146 | -€173,146 | |
| Services and other goods | 61 | - | €3,680,687 | +€3.7m | |
| Remuneration, social security and pensions | 62 | €2,210,881 | €2,768,242 | +€557,362 | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €343,836 | €398,977 | +€55,141 | +16.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €46,123 | €0 | -€46,123 | -100.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €212,502 | +€212,502 | |
| Other operating charges | 640/8 | €99,210 | €127,702 | +€28,492 | +28.7% |
| Non-recurring operating charges | 66A | - | €34,581 | +€34,581 | |
| Gross operating margin | 9900 | €4,755,755 | - | -€4.8m | |
| Operating profit (loss) | 9901 | €2,055,706 | €1,544,482 | -€511,224 | -24.9% |
| Financial income | 75/76B | €10,740 | €12,988 | +€2,248 | +20.9% |
| Recurring financial income | 75 | €9,503 | €12,067 | +€2,564 | +27.0% |
| Income from current assets | 751 | - | €8,305 | +€8,305 | |
| Other financial income | 752/9 | - | €3,762 | +€3,762 | |
| Non-recurring financial income | 76B | €1,237 | €921 | -€316 | -25.6% |
| Financial charges | 65/66B | €45,540 | €59,803 | +€14,263 | +31.3% |
| Recurring financial charges | 65 | €28,770 | €34,619 | +€5,849 | +20.3% |
| Debt charges | 650 | - | €31,613 | +€31,613 | |
| Other financial charges | 652/9 | - | €3,007 | +€3,007 | |
| Non-recurring financial charges | 66B | €16,770 | €25,183 | +€8,413 | +50.2% |
| Profit (loss) for the period before taxes | 9903 | €2,020,906 | €1,497,667 | -€523,239 | -25.9% |
| Income taxes | 67/77 | €572,759 | €418,551 | -€154,209 | -26.9% |
| Taxes | 670/3 | - | €418,551 | +€418,551 | |
| Profit (loss) for the period | 9904 | €1,448,147 | €1,079,117 | -€369,030 | -25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,448,147 | €1,079,117 | -€369,030 | -25.5% |
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 4 October 2026 via checked.be.