K-CL: 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-CL
Largest movements
- Tangible fixed assets +€664,971
up €664,971 (+40.5%), from €1.6m to €2.3m
of which Land and buildings: +€671,153
- Cash -€35,638
down €35,638 (-23.7%), from €150,465 to €114,827
mainly Investment in fixed assets (net) (-€842,888) and Contributions, distributions and other (-€88,656)
- Reserves +€446,450
up €446,450 (+51.6%), from €864,720 to €1.3m
- Debts after one year +€142,735
up €142,735 (+51.2%), from €278,889 to €421,624
- Gross operating margin +€722,186
up €722,186 (+208%), from €347,941 to €1.1m
- Taxes +€201,444
up €201,444 (+311%), from €64,827 to €266,271
- Depreciation +€94,770
up €94,770 (+114%), from €83,147 to €177,917
- Financial charges +€25,938
up €25,938 (+41.4%), from €62,717 to €88,655
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 | €2,089,206 | €2,739,169 | +€649,963 | +31.1% |
| Fixed assets | 21/28 | €1,642,777 | €2,307,748 | +€664,971 | +40.5% |
| Tangible fixed assets | 22/27 | €1,642,777 | €2,307,748 | +€664,971 | +40.5% |
| Land and buildings | 22 | €1,553,043 | €2,224,196 | +€671,153 | +43.2% |
| Plant, machinery and equipment | 23 | €30,477 | €28,109 | -€2,368 | -7.8% |
| Furniture and vehicles | 24 | €45,853 | €32,739 | -€13,113 | -28.6% |
| Other tangible fixed assets | 26 | €13,404 | €22,704 | +€9,300 | +69.4% |
| Current assets | 29/58 | €446,429 | €431,421 | -€15,009 | -3.4% |
| Amounts receivable within one year | 40/41 | €910 | €18,520 | +€17,610 | +1,934% |
| Trade receivables | 40 | €910 | €1,016 | +€106 | +11.6% |
| Other amounts receivable | 41 | - | €17,504 | +€17,504 | |
| Current investments | 50/53 | €291,729 | €294,880 | +€3,151 | +1.1% |
| Cash at bank and in hand | 54/58 | €150,465 | €114,827 | -€35,638 | -23.7% |
| Deferred charges and accrued income | 490/1 | €3,325 | €3,194 | -€131 | -3.9% |
| Total equity and liabilities | 10/49 | €2,089,206 | €2,739,169 | +€649,963 | +31.1% |
| Equity | 10/15 | €883,338 | €1,329,830 | +€446,491 | +50.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €864,720 | €1,311,170 | +€446,450 | +51.6% |
| Distributable reserves | 133 | €864,720 | €1,311,170 | +€446,450 | +51.6% |
| Profit (loss) carried forward | 14 | €18 | €60 | +€41 | +227% |
| Amounts payable | 17/49 | €1,205,868 | €1,409,340 | +€203,472 | +16.9% |
| Amounts payable after more than one year | 17 | €278,889 | €421,624 | +€142,735 | +51.2% |
| Financial debts | 170/4 | €278,889 | €421,624 | +€142,735 | +51.2% |
| Amounts payable within one year | 42/48 | €876,213 | €909,663 | +€33,450 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €38,333 | €55,830 | +€17,497 | +45.6% |
| Trade debts | 44 | €7,028 | €13,506 | +€6,479 | +92.2% |
| Suppliers | 440/4 | €7,028 | €13,506 | +€6,479 | +92.2% |
| Taxes, remuneration and social security | 45 | €35,402 | €61,350 | +€25,948 | +73.3% |
| Taxes | 450/3 | €35,402 | €61,350 | +€25,948 | +73.3% |
| Other amounts payable | 47/48 | €795,450 | €778,976 | -€16,474 | -2.1% |
| Accrued charges and deferred income | 492/3 | €50,766 | €78,053 | +€27,287 | +53.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,147 | €177,917 | +€94,770 | +114% |
| Other operating charges | 640/8 | €2,223 | €6,944 | +€4,720 | +212% |
| Gross operating margin | 9900 | €347,941 | €1,070,127 | +€722,186 | +208% |
| Operating profit (loss) | 9901 | €262,571 | €885,267 | +€622,696 | +237% |
| Financial income | 75/76B | €11,800 | €4,806 | -€6,994 | -59.3% |
| Recurring financial income | 75 | €11,800 | €4,806 | -€6,994 | -59.3% |
| Financial charges | 65/66B | €62,717 | €88,655 | +€25,938 | +41.4% |
| Recurring financial charges | 65 | €62,717 | €88,655 | +€25,938 | +41.4% |
| Profit (loss) for the period before taxes | 9903 | €211,654 | €801,418 | +€589,764 | +279% |
| Income taxes | 67/77 | €64,827 | €266,271 | +€201,444 | +311% |
| Profit (loss) for the period | 9904 | €146,827 | €535,147 | +€388,320 | +264% |
| Profit (loss) for the period to be appropriated | 9905 | €146,827 | €535,147 | +€388,320 | +264% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.