K-CONSTRUCT: 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-CONSTRUCT
Largest movements
- Receivables within one year +€1.7m
up €1.7m (+7147.0%), from €23,981 to €1.7m
- Financial fixed assets +€822,000
up €822,000 (+18.5%), from €4.4m to €5.3m
- Deferred charges and accrued income +€176,384
up €176,384 (+21.5%), from €821,617 to €998,001
- Cash -€151,499
down €151,499 (-53.8%), from €281,553 to €130,054
mainly Receivables within one year (-€1.7m) and Investment in fixed assets (net) (-€822,000)
- Other debts +€1.7m
new in 2025: €1.7m
- Short-term financial debts +€446,569
up €446,569 (+223.3%), from €200,000 to €646,569
- Profit (loss) carried forward +€325,265
up €325,265 (+4.6%), from €7.0m to €7.3m
- Financial income +€174,306
up €174,306 (+60.7%), from €287,306 to €461,612
of which Financial income: +€174,306
- Financial charges +€25,438
up €25,438 (+33.3%), from €76,412 to €101,850
- Taxes +€24,122
up €24,122 (+62.5%), from €38,584 to €62,706
- Gross operating margin +€2,122
up €2,122 (+7.1%), from €29,955 to €32,077
- Other operating charges -€423
down €423 (-9.8%), from €4,291 to €3,868
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
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 | €8,094,489 | €10,580,619 | +€2.5m | +30.7% |
| Fixed assets | 21/28 | €5,611,302 | €6,433,302 | +€822,000 | +14.6% |
| Tangible fixed assets | 22/27 | €1,170,610 | €1,170,610 | = | 0.0% |
| Land and buildings | 22 | €1,170,610 | €1,170,610 | = | 0.0% |
| Financial fixed assets | 28 | €4,440,692 | €5,262,692 | +€822,000 | +18.5% |
| Current assets | 29/58 | €2,483,187 | €4,147,317 | +€1.7m | +67.0% |
| Amounts receivable within one year | 40/41 | €23,981 | €1,737,875 | +€1.7m | +7147.0% |
| Other amounts receivable | 41 | €23,981 | €1,737,875 | +€1.7m | +7147.0% |
| Current investments | 50/53 | €1,356,036 | €1,281,388 | -€74,648 | -5.5% |
| Cash at bank and in hand | 54/58 | €281,553 | €130,054 | -€151,499 | -53.8% |
| Deferred charges and accrued income | 490/1 | €821,617 | €998,001 | +€176,384 | +21.5% |
| Total equity and liabilities | 10/49 | €8,094,489 | €10,580,619 | +€2.5m | +30.7% |
| Equity | 10/15 | €7,084,311 | €7,409,575 | +€325,265 | +4.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,016,661 | €7,341,925 | +€325,265 | +4.6% |
| Amounts payable | 17/49 | €1,010,178 | €3,171,044 | +€2.2m | +213.9% |
| Amounts payable after more than one year | 17 | €784,472 | €758,221 | -€26,251 | -3.3% |
| Financial debts | 170/4 | €784,472 | €758,221 | -€26,251 | -3.3% |
| Amounts payable within one year | 42/48 | €225,706 | €2,412,822 | +€2.2m | +969.0% |
| Current portion of amounts payable after more than one year | 42 | €25,706 | €26,251 | +€545 | +2.1% |
| Financial debts | 43 | €200,000 | €646,569 | +€446,569 | +223.3% |
| Credit institutions | 430/8 | €200,000 | €646,569 | +€446,569 | +223.3% |
| Trade debts | 44 | - | €80 | +€80 | |
| Suppliers | 440/4 | - | €80 | +€80 | |
| Taxes, remuneration and social security | 45 | - | €37,048 | +€37,048 | |
| Taxes | 450/3 | - | €37,048 | +€37,048 | |
| Other amounts payable | 47/48 | - | €1,702,875 | +€1.7m | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €4,291 | €3,868 | -€423 | -9.8% |
| Gross operating margin | 9900 | €29,955 | €32,077 | +€2,122 | +7.1% |
| Operating profit (loss) | 9901 | €25,664 | €28,209 | +€2,545 | +9.9% |
| Financial income | 75/76B | €287,306 | €461,612 | +€174,306 | +60.7% |
| Recurring financial income | 75 | €287,306 | €461,612 | +€174,306 | +60.7% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €76,412 | €101,850 | +€25,438 | +33.3% |
| Recurring financial charges | 65 | €76,412 | €101,850 | +€25,438 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | €236,559 | €387,971 | +€151,412 | +64.0% |
| Income taxes | 67/77 | €38,584 | €62,706 | +€24,122 | +62.5% |
| Profit (loss) for the period | 9904 | €197,974 | €325,265 | +€127,291 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €197,974 | €325,265 | +€127,291 | +64.3% |
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 12 October 2026 via checked.be.