BKF: 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.
BKF
Largest movements
- Receivables after one year +€102,500
up €102,500 (+137%), from €75,000 to €177,500
- Cash -€38,365
down €38,365 (-20.8%), from €184,773 to €146,408
mainly Contributions, distributions and other (-€107,754) and Receivables after one year (-€102,500)
- Tangible fixed assets -€17,104
down €17,104 (-23.4%), from €73,192 to €56,088
of which Furniture and vehicles: -€25,105
- Receivables within one year +€16,379
new in 2025: €16,379
- Other debts +€85,065
up €85,065 (+375%), from €22,689 to €107,754
- Reserves -€8,754
down €8,754 (-3.0%), from €287,931 to €279,177
- Current portion of long-term debt -€7,906
down €7,906 (-66.2%), from €11,952 to €4,046
- Gross operating margin -€29,441
down €29,441 (-14.6%), from €201,287 to €171,846
- Taxes -€9,758
down €9,758 (-17.0%), from €57,387 to €47,629
- Financial income +€4,784
up €4,784 (+444%), from €1,079 to €5,863
- Depreciation +€3,412
up €3,412 (+13.3%), from €25,610 to €29,022
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 | €353,148 | €420,306 | +€67,158 | +19.0% |
| Fixed assets | 21/28 | €73,192 | €56,088 | -€17,104 | -23.4% |
| Tangible fixed assets | 22/27 | €73,192 | €56,088 | -€17,104 | -23.4% |
| Furniture and vehicles | 24 | €49,833 | €24,729 | -€25,105 | -50.4% |
| Other tangible fixed assets | 26 | €23,358 | €31,359 | +€8,001 | +34.3% |
| Current assets | 29/58 | €279,956 | €364,218 | +€84,262 | +30.1% |
| Amounts receivable after more than one year | 29 | €75,000 | €177,500 | +€102,500 | +137% |
| Other amounts receivable | 291 | €75,000 | €177,500 | +€102,500 | +137% |
| Stocks and contracts in progress | 3 | €14,688 | €16,883 | +€2,195 | +14.9% |
| Stocks | 30/36 | €14,688 | €16,883 | +€2,195 | +14.9% |
| Amounts receivable within one year | 40/41 | - | €16,379 | +€16,379 | |
| Other amounts receivable | 41 | - | €16,379 | +€16,379 | |
| Cash at bank and in hand | 54/58 | €184,773 | €146,408 | -€38,365 | -20.8% |
| Deferred charges and accrued income | 490/1 | €5,495 | €7,048 | +€1,554 | +28.3% |
| Total equity and liabilities | 10/49 | €353,148 | €420,306 | +€67,158 | +19.0% |
| Equity | 10/15 | €301,205 | €292,576 | -€8,629 | -2.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €287,931 | €279,177 | -€8,754 | -3.0% |
| Distributable reserves | 133 | €287,931 | €279,177 | -€8,754 | -3.0% |
| Profit (loss) carried forward | 14 | €874 | €999 | +€125 | +14.3% |
| Amounts payable | 17/49 | €51,942 | €127,730 | +€75,787 | +146% |
| Amounts payable after more than one year | 17 | €14,619 | €10,573 | -€4,046 | -27.7% |
| Financial debts | 170/4 | €14,619 | €10,573 | -€4,046 | -27.7% |
| Amounts payable within one year | 42/48 | €37,324 | €117,157 | +€79,833 | +214% |
| Current portion of amounts payable after more than one year | 42 | €11,952 | €4,046 | -€7,906 | -66.2% |
| Trade debts | 44 | €2,683 | €5,357 | +€2,674 | +99.7% |
| Suppliers | 440/4 | €2,683 | €5,357 | +€2,674 | +99.7% |
| Other amounts payable | 47/48 | €22,689 | €107,754 | +€85,065 | +375% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,610 | €29,022 | +€3,412 | +13.3% |
| Other operating charges | 640/8 | €1,123 | €762 | -€361 | -32.1% |
| Gross operating margin | 9900 | €201,287 | €171,846 | -€29,441 | -14.6% |
| Operating profit (loss) | 9901 | €174,554 | €142,062 | -€32,492 | -18.6% |
| Financial income | 75/76B | €1,079 | €5,863 | +€4,784 | +444% |
| Recurring financial income | 75 | €1,079 | €5,863 | +€4,784 | +444% |
| Financial charges | 65/66B | €1,371 | €1,171 | -€200 | -14.6% |
| Recurring financial charges | 65 | €1,371 | €1,171 | -€200 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €174,261 | €146,754 | -€27,507 | -15.8% |
| Income taxes | 67/77 | €57,387 | €47,629 | -€9,758 | -17.0% |
| Profit (loss) for the period | 9904 | €116,874 | €99,125 | -€17,750 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €116,874 | €99,125 | -€17,750 | -15.2% |
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 15 October 2026 via checked.be.