CKX MANAGEMENT: 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.
CKX MANAGEMENT
Largest movements
- Receivables after one year +€52,930
up €52,930 (+88.9%), from €59,522 to €112,452
- Receivables within one year -€40,587
down €40,587 (-61.6%), from €65,876 to €25,289
of which Trade receivables: -€50,510
- Cash +€4,468
up €4,468 (+12.5%), from €35,785 to €40,253
mainly Net result for the year (+€44,112) and Receivables within one year (+€40,587)
- Tangible fixed assets +€3,417
up €3,417 (+92.1%), from €3,708 to €7,125
- Profit (loss) carried forward +€13,112
new in 2025: €13,112
- Tax, wage and social debts +€9,419
up €9,419 (+25.6%), from €36,798 to €46,217
- Trade debts -€1,963
down €1,963 (-81.5%), from €2,409 to €446
- Gross operating margin +€31,194
up €31,194 (+93.9%), from €33,217 to €64,412
- Taxes +€2,273
up €2,273 (+17.7%), from €12,825 to €15,098
- Depreciation +€1,798
up €1,798 (+269.0%), from €668 to €2,466
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 | €166,422 | €187,641 | +€21,219 | +12.7% |
| Fixed assets | 21/28 | €3,808 | €7,225 | +€3,417 | +89.7% |
| Tangible fixed assets | 22/27 | €3,708 | €7,125 | +€3,417 | +92.1% |
| Furniture and vehicles | 24 | €3,708 | €7,125 | +€3,417 | +92.1% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €162,614 | €180,416 | +€17,802 | +10.9% |
| Amounts receivable after more than one year | 29 | €59,522 | €112,452 | +€52,930 | +88.9% |
| Other amounts receivable | 291 | €59,522 | €112,452 | +€52,930 | +88.9% |
| Amounts receivable within one year | 40/41 | €65,876 | €25,289 | -€40,587 | -61.6% |
| Trade receivables | 40 | €60,969 | €10,459 | -€50,510 | -82.8% |
| Other amounts receivable | 41 | €4,908 | €14,830 | +€9,923 | +202.2% |
| Cash at bank and in hand | 54/58 | €35,785 | €40,253 | +€4,468 | +12.5% |
| Deferred charges and accrued income | 490/1 | €1,431 | €2,423 | +€992 | +69.3% |
| Total equity and liabilities | 10/49 | €166,422 | €187,641 | +€21,219 | +12.7% |
| Equity | 10/15 | €127,215 | €140,328 | +€13,112 | +10.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €125,215 | €125,215 | = | 0.0% |
| Distributable reserves | 133 | €125,215 | €125,215 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €13,112 | +€13,112 | |
| Amounts payable | 17/49 | €39,207 | €47,313 | +€8,106 | +20.7% |
| Amounts payable within one year | 42/48 | €39,207 | €47,313 | +€8,106 | +20.7% |
| Trade debts | 44 | €2,409 | €446 | -€1,963 | -81.5% |
| Suppliers | 440/4 | €2,409 | €446 | -€1,963 | -81.5% |
| Taxes, remuneration and social security | 45 | €36,798 | €46,217 | +€9,419 | +25.6% |
| Taxes | 450/3 | €36,798 | €46,217 | +€9,419 | +25.6% |
| Other amounts payable | 47/48 | - | €650 | +€650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €668 | €2,466 | +€1,798 | +269.0% |
| Other operating charges | 640/8 | €2,298 | €1,942 | -€356 | -15.5% |
| Non-recurring operating charges | 66A | - | €484 | +€484 | |
| Gross operating margin | 9900 | €33,217 | €64,412 | +€31,194 | +93.9% |
| Operating profit (loss) | 9901 | €30,251 | €59,520 | +€29,269 | +96.8% |
| Financial charges | 65/66B | €191 | €309 | +€118 | +61.6% |
| Recurring financial charges | 65 | €189 | €309 | +€120 | +63.7% |
| Non-recurring financial charges | 66B | €2 | - | -€2 | |
| Profit (loss) for the period before taxes | 9903 | €30,060 | €59,210 | +€29,151 | +97.0% |
| Income taxes | 67/77 | €12,825 | €15,098 | +€2,273 | +17.7% |
| Profit (loss) for the period | 9904 | €17,234 | €44,112 | +€26,878 | +156.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,234 | €44,112 | +€26,878 | +156.0% |
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 4 October 2026 via checked.be.