CS&K Projects: 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.
CS&K Projects
Largest movements
- Current investments -€250,000
no longer reported in 2025 (was €250,000)
- Cash +€179,335
up €179,335 (+423%), from €42,387 to €221,722
mainly Current investments (+€250,000) and Net result for the year (+€68,532)
- Receivables within one year +€116,456
up €116,456 (+67.1%), from €173,670 to €290,126
of which Other amounts receivable: +€119,823
- Tangible fixed assets +€14,877
up €14,877 (+4.2%), from €355,586 to €370,463
of which Land and buildings: +€15,517
- Reserves +€68,532
up €68,532 (+55.9%), from €122,654 to €191,186
of which Distributable reserves: +€68,532
- Debts after one year -€13,767
down €13,767 (-6.8%), from €201,701 to €187,935
- Tax, wage and social debts +€13,150
up €13,150 (+113%), from €11,639 to €24,788
of which Taxes: +€16,903
- Gross operating margin +€39,548
up €39,548 (+37.6%), from €105,161 to €144,709
- Taxes +€9,017
up €9,017 (+32.3%), from €27,886 to €36,903
- Financial charges +€3,205
up €3,205 (+49.9%), from €6,422 to €9,627
- Financial income -€2,903
down €2,903 (-61.6%), from €4,716 to €1,813
- Other operating charges -€2,663
down €2,663 (-55.2%), from €4,822 to €2,159
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 | €825,835 | €887,854 | +€62,019 | +7.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €356,186 | €371,063 | +€14,877 | +4.2% |
| Tangible fixed assets | 22/27 | €355,586 | €370,463 | +€14,877 | +4.2% |
| Land and buildings | 22 | €347,900 | €363,417 | +€15,517 | +4.5% |
| Plant, machinery and equipment | 23 | €149 | €0 | -€149 | -100% |
| Furniture and vehicles | 24 | €7,536 | €7,046 | -€490 | -6.5% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €469,648 | €516,791 | +€47,142 | +10.0% |
| Amounts receivable within one year | 40/41 | €173,670 | €290,126 | +€116,456 | +67.1% |
| Trade receivables | 40 | €9,808 | €6,441 | -€3,367 | -34.3% |
| Other amounts receivable | 41 | €163,862 | €283,685 | +€119,823 | +73.1% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €42,387 | €221,722 | +€179,335 | +423% |
| Deferred charges and accrued income | 490/1 | €3,592 | €4,942 | +€1,351 | +37.6% |
| Total equity and liabilities | 10/49 | €825,835 | €887,854 | +€62,019 | +7.5% |
| Equity | 10/15 | €557,639 | €626,172 | +€68,532 | +12.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €122,654 | €191,186 | +€68,532 | +55.9% |
| Non-distributable reserves | 130/1 | €36 | €36 | = | 0.0% |
| Reserves not available under the articles | 1311 | €36 | €36 | = | 0.0% |
| Distributable reserves | 133 | €122,619 | €191,151 | +€68,532 | +55.9% |
| Profit (loss) carried forward | 14 | €428,785 | €428,785 | = | 0.0% |
| Amounts payable | 17/49 | €268,195 | €261,682 | -€6,513 | -2.4% |
| Amounts payable after more than one year | 17 | €201,701 | €187,935 | -€13,767 | -6.8% |
| Financial debts | 170/4 | €201,701 | €187,935 | -€13,767 | -6.8% |
| Amounts payable within one year | 42/48 | €66,494 | €73,247 | +€6,754 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €33,532 | €33,767 | +€235 | +0.7% |
| Trade debts | 44 | €21,311 | €14,692 | -€6,618 | -31.1% |
| Suppliers | 440/4 | €21,311 | €14,692 | -€6,618 | -31.1% |
| Taxes, remuneration and social security | 45 | €11,639 | €24,788 | +€13,150 | +113% |
| Taxes | 450/3 | €7,886 | €24,788 | +€16,903 | +214% |
| Remuneration and social security | 454/9 | €3,753 | - | -€3,753 | |
| Other amounts payable | 47/48 | €13 | - | -€13 | |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,855 | €22,628 | +€1,773 | +8.5% |
| Other operating charges | 640/8 | €4,822 | €2,159 | -€2,663 | -55.2% |
| Non-recurring operating charges | 66A | - | €6,672 | +€6,672 | |
| Gross operating margin | 9900 | €105,161 | €144,709 | +€39,548 | +37.6% |
| Operating profit (loss) | 9901 | €79,484 | €113,249 | +€33,765 | +42.5% |
| Financial income | 75/76B | €4,716 | €1,813 | -€2,903 | -61.6% |
| Recurring financial income | 75 | €4,716 | €1,813 | -€2,903 | -61.6% |
| Financial charges | 65/66B | €6,422 | €9,627 | +€3,205 | +49.9% |
| Recurring financial charges | 65 | €6,422 | €9,627 | +€3,205 | +49.9% |
| Profit (loss) for the period before taxes | 9903 | €77,777 | €105,435 | +€27,658 | +35.6% |
| Income taxes | 67/77 | €27,886 | €36,903 | +€9,017 | +32.3% |
| Profit (loss) for the period | 9904 | €49,891 | €68,532 | +€18,641 | +37.4% |
| Profit (loss) for the period to be appropriated | 9905 | €49,891 | €68,532 | +€18,641 | +37.4% |
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 26 October 2026 via checked.be.