K & A: 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.
K & A
Largest movements
- Tangible fixed assets +€24,962
up €24,962 (+8.8%), from €283,763 to €308,725
of which Land and buildings: +€22,473
- Receivables within one year -€16,969
down €16,969 (-15.2%), from €111,581 to €94,612
of which Other amounts receivable: -€16,112
- Cash -€12,714
down €12,714 (-27.5%), from €46,163 to €33,449
mainly Investment in fixed assets (net) (-€48,304) and Other debts (-€27,023)
- Formation expenses -€6,455
down €6,455 (-100%), from €6,455 to €0
- Other debts -€27,023
down €27,023 (-12.6%), from €214,552 to €187,529
- Reserves +€14,268
up €14,268 (+10.3%), from €139,053 to €153,321
- Gross operating margin +€5,409
up €5,409 (+10.0%), from €54,301 to €59,711
- Taxes +€5,323
up €5,323 (+399%), from €1,335 to €6,658
- Depreciation -€670
down €670 (-2.2%), from €30,467 to €29,797
- Other operating charges +€659
up €659 (+8.0%), from €8,245 to €8,904
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 | €450,933 | €440,219 | -€10,714 | -2.4% |
| Formation expenses | 20 | €6,455 | €0 | -€6,455 | -100% |
| Fixed assets | 21/28 | €283,763 | €308,725 | +€24,962 | +8.8% |
| Tangible fixed assets | 22/27 | €283,763 | €308,725 | +€24,962 | +8.8% |
| Land and buildings | 22 | €269,994 | €292,468 | +€22,473 | +8.3% |
| Plant, machinery and equipment | 23 | €13,768 | €10,702 | -€3,067 | -22.3% |
| Furniture and vehicles | 24 | - | €5,555 | +€5,555 | |
| Current assets | 29/58 | €160,715 | €131,495 | -€29,220 | -18.2% |
| Amounts receivable within one year | 40/41 | €111,581 | €94,612 | -€16,969 | -15.2% |
| Trade receivables | 40 | €857 | €0 | -€857 | -100% |
| Other amounts receivable | 41 | €110,725 | €94,612 | -€16,112 | -14.6% |
| Cash at bank and in hand | 54/58 | €46,163 | €33,449 | -€12,714 | -27.5% |
| Deferred charges and accrued income | 490/1 | €2,970 | €3,433 | +€462 | +15.6% |
| Total equity and liabilities | 10/49 | €450,933 | €440,219 | -€10,714 | -2.4% |
| Equity | 10/15 | €236,164 | €250,432 | +€14,268 | +6.0% |
| Contributions | 10/11 | €97,112 | €97,112 | = | 0.0% |
| Reserves | 13 | €139,053 | €153,321 | +€14,268 | +10.3% |
| Distributable reserves | 133 | €139,053 | €153,321 | +€14,268 | +10.3% |
| Amounts payable | 17/49 | €214,768 | €189,787 | -€24,982 | -11.6% |
| Amounts payable within one year | 42/48 | €214,754 | €189,787 | -€24,967 | -11.6% |
| Trade debts | 44 | €202 | €599 | +€397 | +197% |
| Suppliers | 440/4 | €202 | €599 | +€397 | +197% |
| Taxes, remuneration and social security | 45 | €0 | €1,658 | +€1,658 | |
| Taxes | 450/3 | €0 | €1,658 | +€1,658 | |
| Other amounts payable | 47/48 | €214,552 | €187,529 | -€27,023 | -12.6% |
| Accrued charges and deferred income | 492/3 | €15 | €0 | -€15 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,467 | €29,797 | -€670 | -2.2% |
| Other operating charges | 640/8 | €8,245 | €8,904 | +€659 | +8.0% |
| Non-recurring operating charges | 66A | €11,200 | €0 | -€11,200 | -100% |
| Gross operating margin | 9900 | €54,301 | €59,711 | +€5,409 | +10.0% |
| Operating profit (loss) | 9901 | €4,389 | €21,009 | +€16,620 | +379% |
| Financial income | 75/76B | €0 | €2 | +€2 | |
| Recurring financial income | 75 | €0 | €2 | +€2 | |
| Financial charges | 65/66B | €42 | €85 | +€43 | +102% |
| Recurring financial charges | 65 | €42 | €85 | +€43 | +102% |
| Profit (loss) for the period before taxes | 9903 | €4,347 | €20,926 | +€16,579 | +381% |
| Income taxes | 67/77 | €1,335 | €6,658 | +€5,323 | +399% |
| Profit (loss) for the period | 9904 | €3,012 | €14,268 | +€11,256 | +374% |
| Profit (loss) for the period to be appropriated | 9905 | €3,012 | €14,268 | +€11,256 | +374% |
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 25 October 2026 via checked.be.