CK&S: what changed
Two fiscal 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.
CK&S
Largest movements
- Cash -€210,706
down €210,706 (-53.0%), from €397,219 to €186,513
mainly Investment in fixed assets (net) (-€454,238) and Current investments (-€81,081)
- Tangible fixed assets +€86,778
up €86,778 (+4.2%), from €2.0m to €2.1m
of which Assets under construction and advance payments: +€374,910
- Current investments +€81,081
up €81,081 (+13.4%), from €602,957 to €684,037
- Deferred charges and accrued income +€51,095
up €51,095 (+130.9%), from €39,020 to €90,115
- Trade debts +€81,529
up €81,529 (+35.7%), from €228,258 to €309,787
- Debts after one year -€52,857
down €52,857 (-12.8%), from €412,738 to €359,881
- Gross operating margin -€55,449
down €55,449 (-8.7%), from €640,688 to €585,239
- Financial income +€30,140
up €30,140 (+73.9%), from €40,806 to €70,946
- Depreciation -€19,586
down €19,586 (-5.1%), from €387,046 to €367,460
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 | €3,672,900 | €3,691,891 | +€18,991 | +0.5% |
| Fixed assets | 21/28 | €2,048,108 | €2,134,887 | +€86,778 | +4.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €2,048,108 | €2,134,887 | +€86,778 | +4.2% |
| Land and buildings | 22 | €1,126,157 | €1,096,373 | -€29,784 | -2.6% |
| Plant, machinery and equipment | 23 | €778,242 | €561,905 | -€216,337 | -27.8% |
| Furniture and vehicles | 24 | €143,709 | €101,699 | -€42,010 | -29.2% |
| Assets under construction and advance payments | 27 | €0 | €374,910 | +€374,910 | |
| Current assets | 29/58 | €1,624,791 | €1,557,004 | -€67,788 | -4.2% |
| Stocks and contracts in progress | 3 | €48,100 | €46,250 | -€1,850 | -3.8% |
| Stocks | 30/36 | €48,100 | €46,250 | -€1,850 | -3.8% |
| Amounts receivable within one year | 40/41 | €537,495 | €550,088 | +€12,593 | +2.3% |
| Trade receivables | 40 | €292,087 | €345,121 | +€53,034 | +18.2% |
| Other amounts receivable | 41 | €245,408 | €204,968 | -€40,440 | -16.5% |
| Current investments | 50/53 | €602,957 | €684,037 | +€81,081 | +13.4% |
| Cash at bank and in hand | 54/58 | €397,219 | €186,513 | -€210,706 | -53.0% |
| Deferred charges and accrued income | 490/1 | €39,020 | €90,115 | +€51,095 | +130.9% |
| Total equity and liabilities | 10/49 | €3,672,900 | €3,691,891 | +€18,991 | +0.5% |
| Equity | 10/15 | €2,688,988 | €2,659,147 | -€29,841 | -1.1% |
| Contributions | 10/11 | €720,600 | €720,600 | = | 0.0% |
| Reserves | 13 | €1,901,696 | €1,902,029 | +€333 | 0.0% |
| Distributable reserves | 133 | €1,901,696 | €1,902,029 | +€333 | 0.0% |
| Investment grants | 15 | €66,692 | €36,519 | -€30,174 | -45.2% |
| Provisions and deferred taxes | 16 | €3,510 | €1,922 | -€1,588 | -45.2% |
| Deferred taxes | 168 | €3,510 | €1,922 | -€1,588 | -45.2% |
| Amounts payable | 17/49 | €980,401 | €1,030,821 | +€50,420 | +5.1% |
| Amounts payable after more than one year | 17 | €412,738 | €359,881 | -€52,857 | -12.8% |
| Financial debts | 170/4 | €412,738 | €359,881 | -€52,857 | -12.8% |
| Amounts payable within one year | 42/48 | €567,663 | €669,940 | +€102,277 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €321,548 | €340,357 | +€18,810 | +5.8% |
| Trade debts | 44 | €228,258 | €309,787 | +€81,529 | +35.7% |
| Suppliers | 440/4 | €228,258 | €309,787 | +€81,529 | +35.7% |
| Taxes, remuneration and social security | 45 | €12,271 | €12,202 | -€68 | -0.6% |
| Taxes | 450/3 | €615 | €0 | -€615 | -100.0% |
| Remuneration and social security | 454/9 | €11,655 | €12,202 | +€547 | +4.7% |
| Other amounts payable | 47/48 | €5,588 | €7,593 | +€2,006 | +35.9% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Remuneration, social security and pensions | 62 | €250,236 | €244,705 | -€5,531 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €387,046 | €367,460 | -€19,586 | -5.1% |
| Other operating charges | 640/8 | €18,381 | €21,208 | +€2,827 | +15.4% |
| Gross operating margin | 9900 | €640,688 | €585,239 | -€55,449 | -8.7% |
| Operating profit (loss) | 9901 | -€14,974 | -€48,133 | -€33,159 | -221.4% |
| Financial income | 75/76B | €40,806 | €70,946 | +€30,140 | +73.9% |
| Recurring financial income | 75 | €40,806 | €70,946 | +€30,140 | +73.9% |
| Financial charges | 65/66B | €21,752 | €21,342 | -€410 | -1.9% |
| Recurring financial charges | 65 | €21,752 | €21,342 | -€410 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €4,079 | €1,470 | -€2,609 | -64.0% |
| Transfer from deferred taxes | 780 | €1,588 | €1,588 | = | 0.0% |
| Income taxes | 67/77 | €3,263 | €2,725 | -€538 | -16.5% |
| Profit (loss) for the period | 9904 | €2,404 | €333 | -€2,071 | -86.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,404 | €333 | -€2,071 | -86.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.