K-BAR: what changed
Two fiscal 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-BAR
Largest movements
- Stocks and contracts -€28,768
down €28,768 (-5.8%), from €496,186 to €467,418
- Tangible fixed assets -€16,187
down €16,187 (-25.2%), from €64,121 to €47,934
of which Plant, machinery and equipment: -€15,449
- Cash -€11,780
down €11,780 (-41.4%), from €28,426 to €16,646
mainly Net result for the year (-€41,485) and Trade debts (-€41,213)
- Trade debts -€41,213
down €41,213 (-13.4%), from €308,165 to €266,951
- Tax, wage and social debts +€27,039
up €27,039 (+20.2%), from €134,099 to €161,139
of which Taxes: +€17,926
- Profit (loss) carried forward -€21,485
down €21,485, from €7,975 to -€13,510
- Reserves -€20,000
down €20,000 (-76.3%), from €26,200 to €6,200
of which Distributable reserves: -€20,000
- Debts after one year -€15,203
down €15,203 (-20.3%), from €75,029 to €59,826
- Staff costs +€26,628
up €26,628 (+9.0%), from €295,042 to €321,669
- Gross operating margin -€7,419
down €7,419 (-2.2%), from €332,168 to €324,748
- Financial charges -€5,855
down €5,855 (-29.8%), from €19,620 to €13,765
From the 2025 result to the 2026 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
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €682,041 | €622,550 | -€59,491 | -8.7% |
| Fixed assets | 21/28 | €66,442 | €50,255 | -€16,187 | -24.4% |
| Tangible fixed assets | 22/27 | €64,121 | €47,934 | -€16,187 | -25.2% |
| Plant, machinery and equipment | 23 | €48,098 | €32,649 | -€15,449 | -32.1% |
| Furniture and vehicles | 24 | €4,024 | €3,286 | -€738 | -18.3% |
| Other tangible fixed assets | 26 | €12,000 | €12,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,321 | €2,321 | = | 0.0% |
| Current assets | 29/58 | €615,599 | €572,295 | -€43,304 | -7.0% |
| Stocks and contracts in progress | 3 | €496,186 | €467,418 | -€28,768 | -5.8% |
| Stocks | 30/36 | €496,186 | €467,418 | -€28,768 | -5.8% |
| Amounts receivable within one year | 40/41 | €90,311 | €84,502 | -€5,809 | -6.4% |
| Trade receivables | 40 | €10,723 | €1,485 | -€9,238 | -86.2% |
| Other amounts receivable | 41 | €79,589 | €83,017 | +€3,429 | +4.3% |
| Cash at bank and in hand | 54/58 | €28,426 | €16,646 | -€11,780 | -41.4% |
| Deferred charges and accrued income | 490/1 | €676 | €3,729 | +€3,053 | +451.9% |
| Total equity and liabilities | 10/49 | €682,041 | €622,550 | -€59,491 | -8.7% |
| Equity | 10/15 | €97,054 | €55,569 | -€41,485 | -42.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €26,200 | €6,200 | -€20,000 | -76.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | - | -€20,000 | |
| Profit (loss) carried forward | 14 | €7,975 | -€13,510 | -€21,485 | |
| Investment grants | 15 | €879 | €879 | = | 0.0% |
| Amounts payable | 17/49 | €584,987 | €566,981 | -€18,006 | -3.1% |
| Amounts payable after more than one year | 17 | €75,029 | €59,826 | -€15,203 | -20.3% |
| Financial debts | 170/4 | €75,029 | €59,826 | -€15,203 | -20.3% |
| Amounts payable within one year | 42/48 | €509,957 | €506,797 | -€3,161 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €14,899 | €15,203 | +€304 | +2.0% |
| Financial debts | 43 | €10,366 | €7,075 | -€3,291 | -31.7% |
| Credit institutions | 430/8 | €10,366 | €7,075 | -€3,291 | -31.7% |
| Trade debts | 44 | €308,165 | €266,951 | -€41,213 | -13.4% |
| Suppliers | 440/4 | €308,165 | €266,951 | -€41,213 | -13.4% |
| Taxes, remuneration and social security | 45 | €134,099 | €161,139 | +€27,039 | +20.2% |
| Taxes | 450/3 | €65,752 | €83,678 | +€17,926 | +27.3% |
| Remuneration and social security | 454/9 | €68,347 | €77,461 | +€9,113 | +13.3% |
| Other amounts payable | 47/48 | €42,429 | €56,429 | +€14,000 | +33.0% |
| Accrued charges and deferred income | 492/3 | - | €359 | +€359 | |
| Remuneration, social security and pensions | 62 | €295,042 | €321,669 | +€26,628 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,846 | €18,277 | -€569 | -3.0% |
| Other operating charges | 640/8 | €6,783 | €5,396 | -€1,387 | -20.4% |
| Non-recurring operating charges | 66A | €350 | - | -€350 | |
| Gross operating margin | 9900 | €332,168 | €324,748 | -€7,419 | -2.2% |
| Operating profit (loss) | 9901 | €11,147 | -€20,594 | -€31,741 | |
| Financial income | 75/76B | €3,329 | €3,358 | +€29 | +0.9% |
| Recurring financial income | 75 | €3,329 | €3,358 | +€29 | +0.9% |
| Financial charges | 65/66B | €19,620 | €13,765 | -€5,855 | -29.8% |
| Recurring financial charges | 65 | €19,620 | €13,765 | -€5,855 | -29.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,143 | -€31,000 | -€25,856 | -502.7% |
| Income taxes | 67/77 | €10,887 | €10,485 | -€402 | -3.7% |
| Profit (loss) for the period | 9904 | -€16,030 | -€41,485 | -€25,455 | -158.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,030 | -€41,485 | -€25,455 | -158.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.