BKR: 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.
BKR
Largest movements
- Receivables within one year +€31,980
up €31,980 (+62.4%), from €51,240 to €83,220
of which Trade receivables: +€31,722
- Tangible fixed assets -€25,095
down €25,095 (-8.9%), from €282,768 to €257,673
- Deferred charges and accrued income +€19,151
up €19,151 (+101%), from €18,976 to €38,127
- Cash -€5,608
down €5,608 (-4.2%), from €134,679 to €129,071
mainly Contributions, distributions and other (-€51,180) and Receivables within one year (-€31,980)
- Other debts +€21,761
up €21,761 (+265%), from €8,206 to €29,967
- Debts after one year -€14,467
down €14,467 (-6.5%), from €221,047 to €206,580
- Reserves +€9,517
up €9,517 (+4.5%), from €209,790 to €219,307
- Financial charges -€7,833
down €7,833 (-34.7%), from €22,599 to €14,766
- Gross operating margin +€3,640
up €3,640 (+3.1%), from €116,279 to €119,920
- Financial income -€2,509
down €2,509 (-36.4%), from €6,895 to €4,386
- Depreciation +€1,503
up €1,503 (+6.6%), from €22,790 to €24,292
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 | €492,513 | €513,166 | +€20,653 | +4.2% |
| Fixed assets | 21/28 | €282,768 | €257,673 | -€25,095 | -8.9% |
| Tangible fixed assets | 22/27 | €282,768 | €257,673 | -€25,095 | -8.9% |
| Land and buildings | 22 | €238,123 | €228,123 | -€10,000 | -4.2% |
| Plant, machinery and equipment | 23 | €33,727 | €21,770 | -€11,958 | -35.5% |
| Furniture and vehicles | 24 | €10,917 | €7,780 | -€3,137 | -28.7% |
| Current assets | 29/58 | €209,745 | €255,493 | +€45,747 | +21.8% |
| Stocks and contracts in progress | 3 | €4,850 | €5,075 | +€225 | +4.6% |
| Stocks | 30/36 | €4,850 | €5,075 | +€225 | +4.6% |
| Amounts receivable within one year | 40/41 | €51,240 | €83,220 | +€31,980 | +62.4% |
| Trade receivables | 40 | €45,012 | €76,734 | +€31,722 | +70.5% |
| Other amounts receivable | 41 | €6,228 | €6,486 | +€258 | +4.1% |
| Cash at bank and in hand | 54/58 | €134,679 | €129,071 | -€5,608 | -4.2% |
| Deferred charges and accrued income | 490/1 | €18,976 | €38,127 | +€19,151 | +101% |
| Total equity and liabilities | 10/49 | €492,513 | €513,166 | +€20,653 | +4.2% |
| Equity | 10/15 | €215,991 | €225,508 | +€9,517 | +4.4% |
| Contributions | 10/11 | €6,201 | €6,201 | = | 0.0% |
| Reserves | 13 | €209,790 | €219,307 | +€9,517 | +4.5% |
| Distributable reserves | 133 | €209,790 | €219,307 | +€9,517 | +4.5% |
| Amounts payable | 17/49 | €276,522 | €287,658 | +€11,136 | +4.0% |
| Amounts payable after more than one year | 17 | €221,047 | €206,580 | -€14,467 | -6.5% |
| Financial debts | 170/4 | €221,047 | €206,580 | -€14,467 | -6.5% |
| Amounts payable within one year | 42/48 | €55,475 | €81,078 | +€25,603 | +46.2% |
| Current portion of amounts payable after more than one year | 42 | €14,004 | €14,467 | +€464 | +3.3% |
| Trade debts | 44 | €9,021 | €9,500 | +€479 | +5.3% |
| Suppliers | 440/4 | €9,021 | €9,500 | +€479 | +5.3% |
| Taxes, remuneration and social security | 45 | €24,245 | €27,144 | +€2,899 | +12.0% |
| Taxes | 450/3 | €24,245 | €27,144 | +€2,899 | +12.0% |
| Other amounts payable | 47/48 | €8,206 | €29,967 | +€21,761 | +265% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,790 | €24,292 | +€1,503 | +6.6% |
| Other operating charges | 640/8 | €822 | €1,650 | +€828 | +101% |
| Gross operating margin | 9900 | €116,279 | €119,920 | +€3,640 | +3.1% |
| Operating profit (loss) | 9901 | €92,667 | €93,977 | +€1,310 | +1.4% |
| Financial income | 75/76B | €6,895 | €4,386 | -€2,509 | -36.4% |
| Recurring financial income | 75 | €6,895 | €4,386 | -€2,509 | -36.4% |
| Financial charges | 65/66B | €22,599 | €14,766 | -€7,833 | -34.7% |
| Recurring financial charges | 65 | €22,599 | €14,766 | -€7,833 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €76,963 | €83,597 | +€6,634 | +8.6% |
| Income taxes | 67/77 | €22,245 | €22,899 | +€655 | +2.9% |
| Profit (loss) for the period | 9904 | €54,718 | €60,698 | +€5,979 | +10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €54,718 | €60,698 | +€5,979 | +10.9% |
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.