K.B.S.: 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.S.
Largest movements
- Receivables within one year +€107,447
up €107,447 (+28.1%), from €382,913 to €490,360
of which Trade receivables: +€100,267
- Receivables after one year +€19,300
up €19,300 (+30.8%), from €62,600 to €81,900
of which Trade receivables: +€81,900
- Deferred charges and accrued income +€12,558
up €12,558 (+93.8%), from €13,381 to €25,939
- Profit (loss) carried forward +€169,951
up €169,951, from -€140,901 to €29,050
- Trade debts +€31,711
up €31,711 (+18.8%), from €168,922 to €200,633
- Reserves -€28,304
down €28,304 (-15.4%), from €183,663 to €155,359
of which Tax-exempt reserves: -€28,304
- Tax, wage and social debts -€22,338
down €22,338 (-32.7%), from €68,377 to €46,038
of which Taxes: -€20,426
- Debts after one year -€18,005
down €18,005 (-3.9%), from €460,060 to €442,055
- Turnover +€356,314
up €356,314 (+20.3%), from €1.8m to €2.1m
- Gross operating margin +€353,584
up €353,584 (+94.1%), from €375,842 to €729,426
- Purchases and services +€55,896
up €55,896 (+3.9%), from €1.4m to €1.5m
- Depreciation +€46,279
up €46,279 (+61.0%), from €75,906 to €122,186
- Other operating charges +€40,139
up €40,139 (+43.5%), from €92,180 to €132,319
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.
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,011,546 | €1,140,419 | +€128,874 | +12.7% |
| Fixed assets | 21/28 | €552,651 | €542,220 | -€10,431 | -1.9% |
| Tangible fixed assets | 22/27 | €537,042 | €526,611 | -€10,431 | -1.9% |
| Land and buildings | 22 | €85,307 | €56,871 | -€28,436 | -33.3% |
| Plant, machinery and equipment | 23 | €106,662 | €89,462 | -€17,200 | -16.1% |
| Furniture and vehicles | 24 | €44,716 | €18,195 | -€26,521 | -59.3% |
| Leasing and similar rights | 25 | €300,358 | €362,083 | +€61,725 | +20.6% |
| Financial fixed assets | 28 | €15,609 | €15,609 | = | 0.0% |
| Current assets | 29/58 | €458,894 | €598,199 | +€139,305 | +30.4% |
| Amounts receivable after more than one year | 29 | €62,600 | €81,900 | +€19,300 | +30.8% |
| Trade receivables | 290 | - | €81,900 | +€81,900 | |
| Other amounts receivable | 291 | €62,600 | - | -€62,600 | |
| Amounts receivable within one year | 40/41 | €382,913 | €490,360 | +€107,447 | +28.1% |
| Trade receivables | 40 | €360,362 | €460,629 | +€100,267 | +27.8% |
| Other amounts receivable | 41 | €22,551 | €29,730 | +€7,180 | +31.8% |
| Deferred charges and accrued income | 490/1 | €13,381 | €25,939 | +€12,558 | +93.8% |
| Total equity and liabilities | 10/49 | €1,011,546 | €1,140,419 | +€128,874 | +12.7% |
| Equity | 10/15 | €63,214 | €204,861 | +€141,647 | +224.1% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €183,663 | €155,359 | -€28,304 | -15.4% |
| Tax-exempt reserves | 132 | €144,868 | €116,564 | -€28,304 | -19.5% |
| Distributable reserves | 133 | €38,795 | €38,795 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€140,901 | €29,050 | +€169,951 | |
| Provisions and deferred taxes | 16 | €28,285 | €21,209 | -€7,076 | -25.0% |
| Deferred taxes | 168 | €28,285 | €21,209 | -€7,076 | -25.0% |
| Amounts payable | 17/49 | €920,047 | €914,350 | -€5,697 | -0.6% |
| Amounts payable after more than one year | 17 | €460,060 | €442,055 | -€18,005 | -3.9% |
| Financial debts | 170/4 | €460,060 | €442,055 | -€18,005 | -3.9% |
| Amounts payable within one year | 42/48 | €458,548 | €471,233 | +€12,686 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €134,152 | €147,419 | +€13,267 | +9.9% |
| Financial debts | 43 | €87,097 | €77,143 | -€9,954 | -11.4% |
| Credit institutions | 430/8 | €87,097 | €77,143 | -€9,954 | -11.4% |
| Trade debts | 44 | €168,922 | €200,633 | +€31,711 | +18.8% |
| Suppliers | 440/4 | €168,922 | €200,633 | +€31,711 | +18.8% |
| Taxes, remuneration and social security | 45 | €68,377 | €46,038 | -€22,338 | -32.7% |
| Taxes | 450/3 | €35,896 | €15,470 | -€20,426 | -56.9% |
| Remuneration and social security | 454/9 | €32,480 | €30,569 | -€1,912 | -5.9% |
| Accrued charges and deferred income | 492/3 | €1,440 | €1,062 | -€378 | -26.3% |
| Turnover | 70 | €1,758,811 | €2,115,125 | +€356,314 | +20.3% |
| Non-recurring operating income | 76A | €362 | €346 | -€16 | -4.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,449,926 | €1,505,822 | +€55,896 | +3.9% |
| Remuneration, social security and pensions | 62 | €264,397 | €293,657 | +€29,259 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,906 | €122,186 | +€46,279 | +61.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €16,924 | -€4,341 | -€21,265 | |
| Other operating charges | 640/8 | €92,180 | €132,319 | +€40,139 | +43.5% |
| Non-recurring operating charges | 66A | €504 | €3,220 | +€2,716 | +538.8% |
| Gross operating margin | 9900 | €375,842 | €729,426 | +€353,584 | +94.1% |
| Operating profit (loss) | 9901 | -€74,069 | €182,386 | +€256,456 | |
| Financial income | 75/76B | €3,529 | €3,045 | -€484 | -13.7% |
| Recurring financial income | 75 | €3,529 | €3,045 | -€484 | -13.7% |
| Financial charges | 65/66B | €26,229 | €30,822 | +€4,593 | +17.5% |
| Recurring financial charges | 65 | €26,229 | €30,326 | +€4,097 | +15.6% |
| Non-recurring financial charges | 66B | - | €496 | +€496 | |
| Profit (loss) for the period before taxes | 9903 | -€96,769 | €154,610 | +€251,379 | |
| Transfer from deferred taxes | 780 | €7,076 | €7,076 | = | 0.0% |
| Income taxes | 67/77 | - | €20,039 | +€20,039 | |
| Profit (loss) for the period | 9904 | -€89,693 | €141,647 | +€231,340 | |
| Transfer from tax-exempt reserves | 789 | €28,304 | €28,304 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€61,389 | €169,951 | +€231,340 |
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 10 October 2026 via checked.be.