C&K Project: 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.
C&K Project
Largest movements
- Receivables within one year +€50,721
up €50,721 (+372.7%), from €13,610 to €64,331
of which Other amounts receivable: +€38,257
- Formation expenses -€19,839
down €19,839 (-20.0%), from €99,141 to €79,302
- Tangible fixed assets -€7,626
down €7,626 (-6.2%), from €123,407 to €115,781
of which Plant, machinery and equipment: -€4,489
- Deferred charges and accrued income -€2,633
no longer reported in 2025 (was €2,633)
- Debts after one year -€36,754
down €36,754 (-92.1%), from €39,894 to €3,140
of which Financial debts: -€36,754
- Profit (loss) carried forward +€28,231
up €28,231 (+44.8%), from -€62,987 to -€34,756
- Tax, wage and social debts +€16,468
up €16,468 (+28.5%), from €57,870 to €74,338
- Short-term financial debts +€13,803
up €13,803 (+22.7%), from €60,865 to €74,668
- Taxes -€69,607
down €69,607 (-86.3%), from €80,625 to €11,018
- Write-downs -€34,759
no longer reported in 2025 (was €34,759)
- Depreciation +€21,802
up €21,802 (+385.0%), from €5,663 to €27,466
- Financial charges -€17,474
down €17,474 (-77.1%), from €22,662 to €5,188
of which Financial charges: -€13,252
- Gross operating margin -€8,163
down €8,163 (-9.8%), from €82,938 to €74,775
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €238,861 | €259,935 | +€21,073 | +8.8% |
| Formation expenses | 20 | €99,141 | €79,302 | -€19,839 | -20.0% |
| Fixed assets | 21/28 | €123,407 | €115,781 | -€7,626 | -6.2% |
| Tangible fixed assets | 22/27 | €123,407 | €115,781 | -€7,626 | -6.2% |
| Land and buildings | 22 | €92,971 | €90,336 | -€2,635 | -2.8% |
| Plant, machinery and equipment | 23 | €28,139 | €23,649 | -€4,489 | -16.0% |
| Furniture and vehicles | 24 | €2,298 | €1,795 | -€502 | -21.9% |
| Current assets | 29/58 | €16,313 | €64,852 | +€48,539 | +297.5% |
| Amounts receivable within one year | 40/41 | €13,610 | €64,331 | +€50,721 | +372.7% |
| Trade receivables | 40 | €13,610 | €26,074 | +€12,464 | +91.6% |
| Other amounts receivable | 41 | - | €38,257 | +€38,257 | |
| Cash at bank and in hand | 54/58 | €70 | €521 | +€451 | +642.3% |
| Deferred charges and accrued income | 490/1 | €2,633 | - | -€2,633 | |
| Total equity and liabilities | 10/49 | €238,861 | €259,935 | +€21,073 | +8.8% |
| Equity | 10/15 | €11,775 | €40,007 | +€28,231 | +239.7% |
| Contributions | 10/11 | €51,200 | €51,200 | = | 0.0% |
| Reserves | 13 | €23,563 | €23,563 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,200 | €4,200 | = | 0.0% |
| Distributable reserves | 133 | €19,363 | €19,363 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,987 | -€34,756 | +€28,231 | +44.8% |
| Amounts payable | 17/49 | €227,086 | €219,928 | -€7,158 | -3.2% |
| Amounts payable after more than one year | 17 | €39,894 | €3,140 | -€36,754 | -92.1% |
| Financial debts | 170/4 | €36,754 | - | -€36,754 | |
| Other amounts payable | 178/9 | €3,140 | €3,140 | = | 0.0% |
| Amounts payable within one year | 42/48 | €184,872 | €215,046 | +€30,174 | +16.3% |
| Financial debts | 43 | €60,865 | €74,668 | +€13,803 | +22.7% |
| Credit institutions | 430/8 | €60,865 | €74,668 | +€13,803 | +22.7% |
| Trade debts | 44 | €66,137 | €66,040 | -€98 | -0.1% |
| Suppliers | 440/4 | €66,137 | €66,040 | -€98 | -0.1% |
| Taxes, remuneration and social security | 45 | €57,870 | €74,338 | +€16,468 | +28.5% |
| Taxes | 450/3 | €57,870 | €74,338 | +€16,468 | +28.5% |
| Accrued charges and deferred income | 492/3 | €2,320 | €1,742 | -€578 | -24.9% |
| Non-recurring operating income | 76A | €2,066 | - | -€2,066 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,663 | €27,466 | +€21,802 | +385.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €34,759 | - | -€34,759 | |
| Other operating charges | 640/8 | €3,591 | €3,899 | +€308 | +8.6% |
| Gross operating margin | 9900 | €82,938 | €74,775 | -€8,163 | -9.8% |
| Operating profit (loss) | 9901 | €38,924 | €43,410 | +€4,485 | +11.5% |
| Financial income | 75/76B | - | €1,027 | +€1,027 | |
| Recurring financial income | 75 | - | €1,027 | +€1,027 | |
| Financial charges | 65/66B | €22,662 | €5,188 | -€17,474 | -77.1% |
| Recurring financial charges | 65 | €18,440 | €5,188 | -€13,252 | -71.9% |
| Non-recurring financial charges | 66B | €4,221 | - | -€4,221 | |
| Profit (loss) for the period before taxes | 9903 | €16,263 | €39,249 | +€22,986 | +141.3% |
| Income taxes | 67/77 | €80,625 | €11,018 | -€69,607 | -86.3% |
| Profit (loss) for the period | 9904 | -€64,362 | €28,231 | +€92,593 | |
| Profit (loss) for the period to be appropriated | 9905 | -€64,362 | €28,231 | +€92,593 |
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 11 October 2026 via checked.be.