First Klaas Estate: what changed
First Klaas Estate
Largest movements
- Stocks and contracts +€815,989
up €815,989, from €0 to €815,989
- Receivables within one year -€209,793
down €209,793 (-88.5%), from €237,091 to €27,298
of which Other amounts receivable: -€202,533
- Cash -€65,125
down €65,125 (-99.9%), from €65,163 to €38
mainly Stocks and contracts (-€815,989) and Net result for the year (-€67,063)
- Debts after one year +€540,000
up €540,000, from €0 to €540,000
of which Financial debts: +€315,000
- Trade debts +€78,584
up €78,584 (+493%), from €15,933 to €94,518
- Reserves -€67,063
down €67,063 (-25.1%), from €266,761 to €199,698
- Tax, wage and social debts -€12,935
down €12,935 (-44.1%), from €29,359 to €16,424
- Other debts +€11,316
up €11,316 (+98.4%), from €11,500 to €22,816
- Gross operating margin -€234,995
down €234,995, from €175,173 to -€59,821
- Financial charges -€56,612
down €56,612 (-87.5%), from €64,671 to €8,059
- Taxes -€19,441
down €19,441 (-100%), from €19,441 to €0
- Financial income +€2,473
up €2,473 (+132%), from €1,867 to €4,340
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €339,254 | €886,351 | +€547,097 | +161% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €339,254 | €886,351 | +€547,097 | +161% |
| Amounts receivable after more than one year | 29 | €37,000 | €37,000 | = | 0.0% |
| Other amounts receivable | 291 | €37,000 | €37,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €0 | €815,989 | +€815,989 | |
| Stocks | 30/36 | €0 | €815,989 | +€815,989 | |
| Amounts receivable within one year | 40/41 | €237,091 | €27,298 | -€209,793 | -88.5% |
| Trade receivables | 40 | €7,260 | €0 | -€7,260 | -100% |
| Other amounts receivable | 41 | €229,831 | €27,298 | -€202,533 | -88.1% |
| Cash at bank and in hand | 54/58 | €65,163 | €38 | -€65,125 | -99.9% |
| Deferred charges and accrued income | 490/1 | - | €6,026 | +€6,026 | |
| Total equity and liabilities | 10/49 | €339,254 | €886,351 | +€547,097 | +161% |
| Equity | 10/15 | €272,961 | €205,898 | -€67,063 | -24.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €266,761 | €199,698 | -€67,063 | -25.1% |
| Distributable reserves | 133 | €266,761 | €199,698 | -€67,063 | -25.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €66,293 | €680,453 | +€614,160 | +926% |
| Amounts payable after more than one year | 17 | €0 | €540,000 | +€540,000 | |
| Financial debts | 170/4 | €0 | €315,000 | +€315,000 | |
| Other amounts payable | 178/9 | €0 | €225,000 | +€225,000 | |
| Amounts payable within one year | 42/48 | €56,793 | €133,758 | +€76,965 | +136% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €15,933 | €94,518 | +€78,584 | +493% |
| Suppliers | 440/4 | €15,933 | €94,518 | +€78,584 | +493% |
| Taxes, remuneration and social security | 45 | €29,359 | €16,424 | -€12,935 | -44.1% |
| Taxes | 450/3 | €29,359 | €16,424 | -€12,935 | -44.1% |
| Other amounts payable | 47/48 | €11,500 | €22,816 | +€11,316 | +98.4% |
| Accrued charges and deferred income | 492/3 | €9,500 | €6,695 | -€2,805 | -29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €300 | €0 | -€300 | -100% |
| Other operating charges | 640/8 | €4,399 | €3,524 | -€875 | -19.9% |
| Gross operating margin | 9900 | €175,173 | -€59,821 | -€234,995 | |
| Operating profit (loss) | 9901 | €170,475 | -€63,345 | -€233,819 | |
| Financial income | 75/76B | €1,867 | €4,340 | +€2,473 | +132% |
| Recurring financial income | 75 | €1,867 | €4,340 | +€2,473 | +132% |
| Financial charges | 65/66B | €64,671 | €8,059 | -€56,612 | -87.5% |
| Recurring financial charges | 65 | €64,671 | €8,059 | -€56,612 | -87.5% |
| Profit (loss) for the period before taxes | 9903 | €107,671 | -€67,063 | -€174,734 | |
| Income taxes | 67/77 | €19,441 | €0 | -€19,441 | -100% |
| Profit (loss) for the period | 9904 | €88,230 | -€67,063 | -€155,293 | |
| Profit (loss) for the period to be appropriated | 9905 | €88,230 | -€67,063 | -€155,293 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.