Bouwgroep K2: 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.
Bouwgroep K2
Largest movements
- Stocks and contracts +€1.3m
up €1.3m (+143%), from €920,189 to €2.2m
- Cash -€103,708
down €103,708 (-79.6%), from €130,289 to €26,581
mainly Stocks and contracts (-€1.3m) and Other debts (-€39,338)
- Receivables within one year +€36,228
up €36,228 (+13.4%), from €270,667 to €306,895
of which Trade receivables: +€75,425
- Short-term financial debts +€1.2m
new in 2025: €1.2m
- Reserves -€178,731
down €178,731 (-19.4%), from €919,718 to €740,988
- Profit (loss) carried forward +€153,797
no longer reported in 2025 (was -€153,797)
- Trade debts +€67,937
up €67,937 (+91.3%), from €74,386 to €142,323
- Other debts -€39,338
down €39,338 (-7.9%), from €497,693 to €458,355
- Gross operating margin +€119,618
up €119,618, from -€113,568 to €6,050
- Financial charges -€7,054
down €7,054 (-26.8%), from €26,341 to €19,286
of which Non-recurring financial charges: -€20,000
- Financial income +€4,154
up €4,154 (+1,187%), from €350 to €4,504
- Depreciation +€1,522
up €1,522 (+18.0%), from €8,435 to €9,957
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 | €1,359,655 | €2,599,809 | +€1.2m | +91.2% |
| Fixed assets | 21/28 | €34,358 | €27,856 | -€6,502 | -18.9% |
| Tangible fixed assets | 22/27 | €29,708 | €23,206 | -€6,502 | -21.9% |
| Plant, machinery and equipment | 23 | €1,539 | €892 | -€647 | -42.1% |
| Furniture and vehicles | 24 | €28,169 | €22,314 | -€5,855 | -20.8% |
| Financial fixed assets | 28 | €4,650 | €4,650 | = | 0.0% |
| Current assets | 29/58 | €1,325,297 | €2,571,953 | +€1.2m | +94.1% |
| Stocks and contracts in progress | 3 | €920,189 | €2,237,399 | +€1.3m | +143% |
| Stocks | 30/36 | €920,189 | €2,237,399 | +€1.3m | +143% |
| Amounts receivable within one year | 40/41 | €270,667 | €306,895 | +€36,228 | +13.4% |
| Trade receivables | 40 | €55,735 | €131,160 | +€75,425 | +135% |
| Other amounts receivable | 41 | €214,932 | €175,735 | -€39,197 | -18.2% |
| Cash at bank and in hand | 54/58 | €130,289 | €26,581 | -€103,708 | -79.6% |
| Deferred charges and accrued income | 490/1 | €4,152 | €1,078 | -€3,074 | -74.0% |
| Total equity and liabilities | 10/49 | €1,359,655 | €2,599,809 | +€1.2m | +91.2% |
| Equity | 10/15 | €784,521 | €759,588 | -€24,933 | -3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €919,718 | €740,988 | -€178,731 | -19.4% |
| Distributable reserves | 133 | €919,718 | €740,988 | -€178,731 | -19.4% |
| Profit (loss) carried forward | 14 | -€153,797 | - | +€153,797 | |
| Amounts payable | 17/49 | €575,135 | €1,840,221 | +€1.3m | +220% |
| Amounts payable within one year | 42/48 | €572,505 | €1,840,221 | +€1.3m | +221% |
| Financial debts | 43 | - | €1,239,108 | +€1.2m | |
| Credit institutions | 430/8 | - | €1,239,108 | +€1.2m | |
| Trade debts | 44 | €74,386 | €142,323 | +€67,937 | +91.3% |
| Suppliers | 440/4 | €74,386 | €142,323 | +€67,937 | +91.3% |
| Taxes, remuneration and social security | 45 | €426 | €436 | +€10 | +2.4% |
| Taxes | 450/3 | €426 | €436 | +€10 | +2.4% |
| Other amounts payable | 47/48 | €497,693 | €458,355 | -€39,338 | -7.9% |
| Accrued charges and deferred income | 492/3 | €2,630 | - | -€2,630 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,435 | €9,957 | +€1,522 | +18.0% |
| Other operating charges | 640/8 | €5,378 | €5,808 | +€430 | +8.0% |
| Gross operating margin | 9900 | -€113,568 | €6,050 | +€119,618 | |
| Operating profit (loss) | 9901 | -€127,380 | -€9,715 | +€117,666 | +92.4% |
| Financial income | 75/76B | €350 | €4,504 | +€4,154 | +1,187% |
| Recurring financial income | 75 | €350 | €4,504 | +€4,154 | +1,187% |
| Financial charges | 65/66B | €26,341 | €19,286 | -€7,054 | -26.8% |
| Recurring financial charges | 65 | €6,341 | €19,286 | +€12,946 | +204% |
| Non-recurring financial charges | 66B | €20,000 | - | -€20,000 | |
| Profit (loss) for the period before taxes | 9903 | -€153,371 | -€24,497 | +€128,874 | +84.0% |
| Income taxes | 67/77 | €426 | €436 | +€10 | +2.4% |
| Profit (loss) for the period | 9904 | -€153,797 | -€24,933 | +€128,864 | +83.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€153,797 | -€24,933 | +€128,864 | +83.8% |
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 17 October 2026 via checked.be.