G.K.W.: what changed
G.K.W.
Largest movements
- Receivables within one year -€5,176
down €5,176 (-48.8%), from €10,615 to €5,440
of which Other amounts receivable: -€7,656
- Tangible fixed assets -€3,793
down €3,793 (-4.1%), from €91,815 to €88,022
of which Furniture and vehicles: -€1,947
- Deferred charges and accrued income -€2,000
down €2,000 (-100%), from €2,000 to €0
- Profit (loss) carried forward +€5,533
up €5,533 (+49.8%), from -€11,113 to -€5,580
- Short-term financial debts -€5,317
down €5,317 (-96.4%), from €5,515 to €198
- Debts after one year -€5,063
down €5,063 (-24.2%), from €20,890 to €15,827
- Other debts -€3,394
down €3,394 (-22.9%), from €14,839 to €11,445
- Trade debts -€1,922
down €1,922 (-84.1%), from €2,284 to €363
- Gross operating margin +€7,131
up €7,131 (+173%), from €4,123 to €11,254
- Taxes -€2,411
down €2,411 (-87.6%), from €2,752 to €341
- Depreciation -€2,115
down €2,115 (-53.4%), from €3,961 to €1,846
- Financial charges -€426
down €426 (-19.6%), from €2,176 to €1,750
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 | €104,431 | €93,462 | -€10,969 | -10.5% |
| Fixed assets | 21/28 | €91,815 | €88,022 | -€3,793 | -4.1% |
| Tangible fixed assets | 22/27 | €91,815 | €88,022 | -€3,793 | -4.1% |
| Land and buildings | 22 | €89,868 | €88,022 | -€1,846 | -2.1% |
| Furniture and vehicles | 24 | €1,947 | €0 | -€1,947 | -100% |
| Current assets | 29/58 | €12,615 | €5,440 | -€7,176 | -56.9% |
| Amounts receivable within one year | 40/41 | €10,615 | €5,440 | -€5,176 | -48.8% |
| Trade receivables | 40 | €0 | €2,481 | +€2,481 | |
| Other amounts receivable | 41 | €10,615 | €2,959 | -€7,656 | -72.1% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €2,000 | €0 | -€2,000 | -100% |
| Total equity and liabilities | 10/49 | €104,431 | €93,462 | -€10,969 | -10.5% |
| Equity | 10/15 | €54,347 | €59,880 | +€5,533 | +10.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €46,860 | €46,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,113 | -€5,580 | +€5,533 | +49.8% |
| Amounts payable | 17/49 | €50,084 | €33,582 | -€16,502 | -32.9% |
| Amounts payable after more than one year | 17 | €20,890 | €15,827 | -€5,063 | -24.2% |
| Financial debts | 170/4 | €20,890 | €15,827 | -€5,063 | -24.2% |
| Amounts payable within one year | 42/48 | €29,194 | €17,755 | -€11,439 | -39.2% |
| Current portion of amounts payable after more than one year | 42 | €6,555 | €5,063 | -€1,493 | -22.8% |
| Financial debts | 43 | €5,515 | €198 | -€5,317 | -96.4% |
| Credit institutions | 430/8 | €5,515 | €198 | -€5,317 | -96.4% |
| Trade debts | 44 | €2,284 | €363 | -€1,922 | -84.1% |
| Suppliers | 440/4 | €2,284 | €363 | -€1,922 | -84.1% |
| Taxes, remuneration and social security | 45 | - | €686 | +€686 | |
| Taxes | 450/3 | - | €686 | +€686 | |
| Other amounts payable | 47/48 | €14,839 | €11,445 | -€3,394 | -22.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,961 | €1,846 | -€2,115 | -53.4% |
| Other operating charges | 640/8 | €1,761 | €1,784 | +€23 | +1.3% |
| Gross operating margin | 9900 | €4,123 | €11,254 | +€7,131 | +173% |
| Operating profit (loss) | 9901 | -€1,599 | €7,624 | +€9,223 | |
| Financial charges | 65/66B | €2,176 | €1,750 | -€426 | -19.6% |
| Recurring financial charges | 65 | €2,176 | €1,750 | -€426 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,775 | €5,874 | +€9,649 | |
| Income taxes | 67/77 | €2,752 | €341 | -€2,411 | -87.6% |
| Profit (loss) for the period | 9904 | -€6,527 | €5,533 | +€12,060 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,527 | €5,533 | +€12,060 |
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 2 November 2026 via checked.be.