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
- Tangible fixed assets -€183,625
down €183,625 (-62.5%), from €293,980 to €110,356
of which Land and buildings: -€293,980
- Receivables within one year +€128,310
up €128,310 (+1,163%), from €11,035 to €139,345
of which Other amounts receivable: +€139,345
- Cash -€38,224
down €38,224 (-81.1%), from €47,139 to €8,915
mainly Debts after one year (-€159,641) and Receivables within one year (-€128,310)
- Intangible fixed assets +€36,530
new in 2025: €36,530
- Stocks and contracts +€14,953
new in 2025: €14,953
- Debts after one year -€159,641
down €159,641 (-61.5%), from €259,500 to €99,859
- Reserves +€57,983
up €57,983 (+118%), from €49,192 to €107,176
- Short-term financial debts +€54,814
new in 2025: €54,814
- Current portion of long-term debt +€16,742
new in 2025: €16,742
- Tax, wage and social debts -€13,733
down €13,733 (-35.0%), from €39,184 to €25,451
- Financial income +€146,586
new in 2025: €146,586
of which Non-recurring financial income: +€146,020
- Depreciation +€74,595
up €74,595 (+186%), from €40,135 to €114,730
- Gross operating margin -€33,619
down €33,619 (-31.0%), from €108,556 to €74,937
- Financial charges +€14,919
up €14,919 (+590%), from €2,528 to €17,447
- Other operating charges +€9,114
up €9,114 (+3,004%), from €303 to €9,417
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 | €353,095 | €311,099 | -€41,995 | -11.9% |
| Fixed assets | 21/28 | €293,980 | €147,886 | -€146,094 | -49.7% |
| Intangible fixed assets | 21 | - | €36,530 | +€36,530 | |
| Tangible fixed assets | 22/27 | €293,980 | €110,356 | -€183,625 | -62.5% |
| Land and buildings | 22 | €293,980 | - | -€293,980 | |
| Furniture and vehicles | 24 | - | €110,356 | +€110,356 | |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €59,114 | €163,213 | +€104,099 | +176% |
| Stocks and contracts in progress | 3 | - | €14,953 | +€14,953 | |
| Stocks | 30/36 | - | €14,953 | +€14,953 | |
| Amounts receivable within one year | 40/41 | €11,035 | €139,345 | +€128,310 | +1,163% |
| Trade receivables | 40 | €11,035 | - | -€11,035 | |
| Other amounts receivable | 41 | - | €139,345 | +€139,345 | |
| Cash at bank and in hand | 54/58 | €47,139 | €8,915 | -€38,224 | -81.1% |
| Deferred charges and accrued income | 490/1 | €940 | - | -€940 | |
| Total equity and liabilities | 10/49 | €353,095 | €311,099 | -€41,995 | -11.9% |
| Equity | 10/15 | €51,592 | €109,576 | +€57,983 | +112% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €49,192 | €107,176 | +€57,983 | +118% |
| Distributable reserves | 133 | €49,192 | €107,176 | +€57,983 | +118% |
| Amounts payable | 17/49 | €301,502 | €201,524 | -€99,978 | -33.2% |
| Amounts payable after more than one year | 17 | €259,500 | €99,859 | -€159,641 | -61.5% |
| Financial debts | 170/4 | €259,500 | €99,859 | -€159,641 | -61.5% |
| Amounts payable within one year | 42/48 | €42,002 | €101,664 | +€59,662 | +142% |
| Current portion of amounts payable after more than one year | 42 | - | €16,742 | +€16,742 | |
| Financial debts | 43 | - | €54,814 | +€54,814 | |
| Credit institutions | 430/8 | - | €54,814 | +€54,814 | |
| Trade debts | 44 | - | €2,857 | +€2,857 | |
| Suppliers | 440/4 | - | €2,857 | +€2,857 | |
| Taxes, remuneration and social security | 45 | €39,184 | €25,451 | -€13,733 | -35.0% |
| Taxes | 450/3 | €39,184 | €25,451 | -€13,733 | -35.0% |
| Other amounts payable | 47/48 | €2,818 | €1,800 | -€1,018 | -36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,135 | €114,730 | +€74,595 | +186% |
| Other operating charges | 640/8 | €303 | €9,417 | +€9,114 | +3,004% |
| Gross operating margin | 9900 | €108,556 | €74,937 | -€33,619 | -31.0% |
| Operating profit (loss) | 9901 | €68,118 | -€49,210 | -€117,328 | |
| Financial income | 75/76B | - | €146,586 | +€146,586 | |
| Recurring financial income | 75 | - | €566 | +€566 | |
| Non-recurring financial income | 76B | - | €146,020 | +€146,020 | |
| Financial charges | 65/66B | €2,528 | €17,447 | +€14,919 | +590% |
| Recurring financial charges | 65 | €2,528 | €17,447 | +€14,919 | +590% |
| Profit (loss) for the period before taxes | 9903 | €65,590 | €79,929 | +€14,339 | +21.9% |
| Income taxes | 67/77 | €16,397 | €21,946 | +€5,548 | +33.8% |
| Profit (loss) for the period | 9904 | €49,192 | €57,983 | +€8,791 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €49,192 | €57,983 | +€8,791 | +17.9% |
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 31 October 2026 via checked.be.