CKN: 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.
CKN
Largest movements
- Stocks and contracts -€1.9m
down €1.9m (-19.2%), from €10.1m to €8.1m
- Receivables within one year -€1.3m
down €1.3m (-30.5%), from €4.1m to €2.9m
of which Other amounts receivable: -€633,654
- Cash -€398,429
down €398,429 (-94.1%), from €423,301 to €24,872
mainly Short-term financial debts (-€1.9m) and Net result for the year (-€1.1m)
- Short-term financial debts -€1.9m
down €1.9m (-22.1%), from €8.5m to €6.6m
- Reserves -€1.1m
down €1.1m (-50.5%), from €2.2m to €1.1m
- Trade debts -€730,203
down €730,203 (-71.7%), from €1.0m to €287,923
- Gross operating margin -€4.1m
down €4.1m, from €3.3m to -€734,947
- Taxes -€680,223
down €680,223 (-100%), from €680,223 to €0
- Other operating charges -€136,591
down €136,591 (-93.2%), from €146,494 to €9,903
- Financial charges -€68,398
down €68,398 (-13.3%), from €513,585 to €445,187
- Financial income +€50,869
up €50,869 (+139%), from €36,553 to €87,423
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 | €15,450,069 | €11,933,280 | -€3.5m | -22.8% |
| Fixed assets | 21/28 | €820,000 | €820,000 | = | 0.0% |
| Financial fixed assets | 28 | €820,000 | €820,000 | = | 0.0% |
| Current assets | 29/58 | €14,630,069 | €11,113,280 | -€3.5m | -24.0% |
| Stocks and contracts in progress | 3 | €10,057,735 | €8,126,393 | -€1.9m | -19.2% |
| Stocks | 30/36 | €10,057,735 | €8,126,393 | -€1.9m | -19.2% |
| Amounts receivable within one year | 40/41 | €4,145,543 | €2,879,513 | -€1.3m | -30.5% |
| Trade receivables | 40 | €849,356 | €216,981 | -€632,375 | -74.5% |
| Other amounts receivable | 41 | €3,296,187 | €2,662,532 | -€633,654 | -19.2% |
| Cash at bank and in hand | 54/58 | €423,301 | €24,872 | -€398,429 | -94.1% |
| Deferred charges and accrued income | 490/1 | €3,490 | €82,502 | +€79,011 | +2,264% |
| Total equity and liabilities | 10/49 | €15,450,069 | €11,933,280 | -€3.5m | -22.8% |
| Equity | 10/15 | €2,192,664 | €1,090,050 | -€1.1m | -50.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €2,182,664 | €1,080,050 | -€1.1m | -50.5% |
| Distributable reserves | 133 | €2,182,664 | €1,080,050 | -€1.1m | -50.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €13,257,405 | €10,843,230 | -€2.4m | -18.2% |
| Amounts payable after more than one year | 17 | €326,441 | €313,919 | -€12,523 | -3.8% |
| Financial debts | 170/4 | €326,441 | €313,919 | -€12,523 | -3.8% |
| Amounts payable within one year | 42/48 | €12,903,966 | €10,376,699 | -€2.5m | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €13,000 | €13,543 | +€543 | +4.2% |
| Financial debts | 43 | €8,497,038 | €6,619,280 | -€1.9m | -22.1% |
| Credit institutions | 430/8 | €8,497,038 | €6,619,280 | -€1.9m | -22.1% |
| Trade debts | 44 | €1,018,125 | €287,923 | -€730,203 | -71.7% |
| Suppliers | 440/4 | €1,018,125 | €287,923 | -€730,203 | -71.7% |
| Advances received on contracts in progress | 46 | - | €34,929 | +€34,929 | |
| Taxes, remuneration and social security | 45 | €15,149 | €1,698 | -€13,451 | -88.8% |
| Taxes | 450/3 | €15,149 | €1,698 | -€13,451 | -88.8% |
| Other amounts payable | 47/48 | €3,360,653 | €3,419,326 | +€58,672 | +1.7% |
| Accrued charges and deferred income | 492/3 | €26,998 | €152,612 | +€125,614 | +465% |
| Other operating charges | 640/8 | €146,494 | €9,903 | -€136,591 | -93.2% |
| Gross operating margin | 9900 | €3,349,550 | -€734,947 | -€4.1m | |
| Operating profit (loss) | 9901 | €3,203,056 | -€744,849 | -€3.9m | |
| Financial income | 75/76B | €36,553 | €87,423 | +€50,869 | +139% |
| Recurring financial income | 75 | €36,553 | €87,423 | +€50,869 | +139% |
| Financial charges | 65/66B | €513,585 | €445,187 | -€68,398 | -13.3% |
| Recurring financial charges | 65 | €513,585 | €445,187 | -€68,398 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €2,726,024 | -€1,102,614 | -€3.8m | |
| Income taxes | 67/77 | €680,223 | €0 | -€680,223 | -100% |
| Profit (loss) for the period | 9904 | €2,045,801 | -€1,102,614 | -€3.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €2,045,801 | -€1,102,614 | -€3.1m |
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 14 October 2026 via checked.be.