K-Convest: 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-Convest
Largest movements
- Receivables within one year +€28,884
new in 2025: €28,884
of which Trade receivables: +€27,880
- Tangible fixed assets -€28,583
down €28,583 (-3.2%), from €881,531 to €852,948
- Cash -€22,959
down €22,959 (-48.5%), from €47,379 to €24,421
mainly Other debts (-€132,527) and Receivables within one year (-€28,884)
- Other debts -€132,527
down €132,527 (-95.0%), from €139,471 to €6,945
- Reserves +€79,616
up €79,616 (+56.5%), from €141,037 to €220,654
- Debts after one year +€41,878
up €41,878 (+7.2%), from €581,919 to €623,797
- Tax, wage and social debts -€13,617
down €13,617 (-59.3%), from €22,956 to €9,340
- Gross operating margin +€16,922
up €16,922 (+13.2%), from €128,245 to €145,167
- Taxes +€4,026
up €4,026 (+24.6%), from €16,364 to €20,390
- Depreciation -€2,985
down €2,985 (-9.5%), from €31,568 to €28,583
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 | €929,488 | €906,828 | -€22,659 | -2.4% |
| Fixed assets | 21/28 | €881,531 | €852,948 | -€28,583 | -3.2% |
| Tangible fixed assets | 22/27 | €881,531 | €852,948 | -€28,583 | -3.2% |
| Land and buildings | 22 | €881,531 | €852,948 | -€28,583 | -3.2% |
| Current assets | 29/58 | €47,957 | €53,880 | +€5,924 | +12.4% |
| Amounts receivable within one year | 40/41 | - | €28,884 | +€28,884 | |
| Trade receivables | 40 | - | €27,880 | +€27,880 | |
| Other amounts receivable | 41 | - | €1,004 | +€1,004 | |
| Cash at bank and in hand | 54/58 | €47,379 | €24,421 | -€22,959 | -48.5% |
| Deferred charges and accrued income | 490/1 | €577 | €576 | -€2 | -0.3% |
| Total equity and liabilities | 10/49 | €929,488 | €906,828 | -€22,659 | -2.4% |
| Equity | 10/15 | €151,037 | €230,654 | +€79,616 | +52.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €141,037 | €220,654 | +€79,616 | +56.5% |
| Distributable reserves | 133 | €141,037 | €220,654 | +€79,616 | +56.5% |
| Amounts payable | 17/49 | €778,450 | €676,175 | -€102,276 | -13.1% |
| Amounts payable after more than one year | 17 | €581,919 | €623,797 | +€41,878 | +7.2% |
| Financial debts | 170/4 | €581,919 | €623,797 | +€41,878 | +7.2% |
| Amounts payable within one year | 42/48 | €194,847 | €49,406 | -€145,441 | -74.6% |
| Current portion of amounts payable after more than one year | 42 | €32,419 | €33,122 | +€703 | +2.2% |
| Taxes, remuneration and social security | 45 | €22,956 | €9,340 | -€13,617 | -59.3% |
| Taxes | 450/3 | €22,956 | €9,340 | -€13,617 | -59.3% |
| Other amounts payable | 47/48 | €139,471 | €6,945 | -€132,527 | -95.0% |
| Accrued charges and deferred income | 492/3 | €1,685 | €2,972 | +€1,287 | +76.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,568 | €28,583 | -€2,985 | -9.5% |
| Other operating charges | 640/8 | €1,399 | €1,497 | +€97 | +7.0% |
| Gross operating margin | 9900 | €128,245 | €145,167 | +€16,922 | +13.2% |
| Operating profit (loss) | 9901 | €95,277 | €115,088 | +€19,810 | +20.8% |
| Financial charges | 65/66B | €15,279 | €15,082 | -€198 | -1.3% |
| Recurring financial charges | 65 | €15,279 | €15,082 | -€198 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €79,998 | €100,006 | +€20,008 | +25.0% |
| Income taxes | 67/77 | €16,364 | €20,390 | +€4,026 | +24.6% |
| Profit (loss) for the period | 9904 | €63,634 | €79,616 | +€15,982 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €63,634 | €79,616 | +€15,982 | +25.1% |
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 26 October 2026 via checked.be.