K.B.+: 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.B.+
Largest movements
- Tangible fixed assets -€33,780
down €33,780 (-11.7%), from €287,811 to €254,031
- Stocks and contracts +€20,718
up €20,718 (+16.7%), from €124,371 to €145,089
- Cash +€11,015
up €11,015 (+8.0%), from €137,004 to €148,019
mainly Depreciation (+€38,921) and Other debts (+€32,844)
- Receivables within one year -€7,850
down €7,850 (-15.2%), from €51,529 to €43,679
of which Trade receivables: -€5,650
- Other debts +€32,844
up €32,844 (+224%), from €14,666 to €47,510
- Reserves -€28,759
down €28,759 (-10.2%), from €283,241 to €254,482
of which Distributable reserves: -€28,759
- Debts after one year -€25,578
down €25,578 (-27.0%), from €94,637 to €69,058
- Tax, wage and social debts +€8,616
up €8,616 (+100%), from €8,612 to €17,228
of which Taxes: +€7,069
- Depreciation +€9,915
up €9,915 (+34.2%), from €29,006 to €38,921
- Staff costs +€7,915
up €7,915 (+7.8%), from €101,325 to €109,240
- Gross operating margin +€4,155
up €4,155 (+2.8%), from €150,741 to €154,897
- Write-downs -€2,291
no longer reported in 2025 (was €2,291)
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 | €604,773 | €594,634 | -€10,139 | -1.7% |
| Fixed assets | 21/28 | €287,960 | €254,180 | -€33,780 | -11.7% |
| Tangible fixed assets | 22/27 | €287,811 | €254,031 | -€33,780 | -11.7% |
| Land and buildings | 22 | €132,406 | €119,618 | -€12,788 | -9.7% |
| Plant, machinery and equipment | 23 | €56,547 | €50,060 | -€6,487 | -11.5% |
| Furniture and vehicles | 24 | €13,402 | €11,483 | -€1,919 | -14.3% |
| Leasing and similar rights | 25 | €28,962 | €22,370 | -€6,592 | -22.8% |
| Other tangible fixed assets | 26 | €56,494 | €50,500 | -€5,994 | -10.6% |
| Financial fixed assets | 28 | €149 | €149 | = | 0.0% |
| Current assets | 29/58 | €316,813 | €340,454 | +€23,641 | +7.5% |
| Stocks and contracts in progress | 3 | €124,371 | €145,089 | +€20,718 | +16.7% |
| Stocks | 30/36 | €124,371 | €145,089 | +€20,718 | +16.7% |
| Amounts receivable within one year | 40/41 | €51,529 | €43,679 | -€7,850 | -15.2% |
| Trade receivables | 40 | €46,089 | €40,439 | -€5,650 | -12.3% |
| Other amounts receivable | 41 | €5,440 | €3,240 | -€2,200 | -40.4% |
| Cash at bank and in hand | 54/58 | €137,004 | €148,019 | +€11,015 | +8.0% |
| Deferred charges and accrued income | 490/1 | €3,909 | €3,668 | -€241 | -6.2% |
| Total equity and liabilities | 10/49 | €604,773 | €594,634 | -€10,139 | -1.7% |
| Equity | 10/15 | €456,766 | €428,007 | -€28,759 | -6.3% |
| Contributions | 10/11 | €173,525 | €173,525 | = | 0.0% |
| Capital | 10 | €173,525 | €173,525 | = | 0.0% |
| Issued capital | 100 | €173,525 | €173,525 | = | 0.0% |
| Reserves | 13 | €283,241 | €254,482 | -€28,759 | -10.2% |
| Non-distributable reserves | 130/1 | €17,353 | €17,353 | = | 0.0% |
| Legal reserve | 130 | €17,353 | €17,353 | = | 0.0% |
| Distributable reserves | 133 | €265,888 | €237,129 | -€28,759 | -10.8% |
| Amounts payable | 17/49 | €148,007 | €166,626 | +€18,620 | +12.6% |
| Amounts payable after more than one year | 17 | €94,637 | €69,058 | -€25,578 | -27.0% |
| Financial debts | 170/4 | €94,637 | €69,058 | -€25,578 | -27.0% |
| Amounts payable within one year | 42/48 | €53,370 | €97,568 | +€44,198 | +82.8% |
| Current portion of amounts payable after more than one year | 42 | €24,575 | €24,997 | +€422 | +1.7% |
| Trade debts | 44 | €5,518 | €7,833 | +€2,315 | +42.0% |
| Suppliers | 440/4 | €5,518 | €7,833 | +€2,315 | +42.0% |
| Taxes, remuneration and social security | 45 | €8,612 | €17,228 | +€8,616 | +100% |
| Taxes | 450/3 | €275 | €7,344 | +€7,069 | +2,570% |
| Remuneration and social security | 454/9 | €8,337 | €9,884 | +€1,547 | +18.6% |
| Other amounts payable | 47/48 | €14,666 | €47,510 | +€32,844 | +224% |
| Remuneration, social security and pensions | 62 | €101,325 | €109,240 | +€7,915 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,006 | €38,921 | +€9,915 | +34.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,291 | - | -€2,291 | |
| Other operating charges | 640/8 | €4,283 | €4,819 | +€536 | +12.5% |
| Gross operating margin | 9900 | €150,741 | €154,897 | +€4,155 | +2.8% |
| Operating profit (loss) | 9901 | €13,837 | €1,916 | -€11,921 | -86.2% |
| Financial income | 75/76B | €696 | €356 | -€340 | -48.9% |
| Recurring financial income | 75 | €696 | €356 | -€340 | -48.9% |
| Financial charges | 65/66B | €4,741 | €5,470 | +€728 | +15.4% |
| Recurring financial charges | 65 | €4,741 | €5,470 | +€728 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €9,792 | -€3,198 | -€12,990 | |
| Income taxes | 67/77 | €2,080 | €761 | -€1,320 | -63.4% |
| Profit (loss) for the period | 9904 | €7,711 | -€3,959 | -€11,670 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,711 | -€3,959 | -€11,670 |
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 30 October 2026 via checked.be.