K-DECO: 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-DECO
Largest movements
- Cash +€9,536
up €9,536 (+3.3%), from €285,917 to €295,453
mainly Net result for the year (+€35,050) and Depreciation (+€17,665)
- Receivables within one year +€4,587
up €4,587 (+17.6%), from €26,059 to €30,646
of which Trade receivables: +€14,802
- Tangible fixed assets +€3,634
up €3,634 (+13.8%), from €26,417 to €30,051
of which Plant, machinery and equipment: +€11,228
- Debts after one year +€10,719
new in 2025: €10,719
- Tax, wage and social debts -€5,569
down €5,569 (-71.4%), from €7,805 to €2,236
of which Taxes: -€5,519
- Reserves +€4,927
up €4,927 (+1.9%), from €262,845 to €267,773
of which Distributable reserves: +€160,587
- Current portion of long-term debt +€4,910
new in 2025: €4,910
- Gross operating margin -€16,629
down €16,629 (-10.9%), from €152,848 to €136,218
- Taxes -€6,784
down €6,784 (-32.3%), from €20,992 to €14,208
- Staff costs +€3,469
up €3,469 (+5.7%), from €60,824 to €64,293
- Depreciation +€3,320
up €3,320 (+23.1%), from €14,344 to €17,665
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 | €339,650 | €357,639 | +€17,988 | +5.3% |
| Fixed assets | 21/28 | €26,417 | €30,051 | +€3,634 | +13.8% |
| Tangible fixed assets | 22/27 | €26,417 | €30,051 | +€3,634 | +13.8% |
| Plant, machinery and equipment | 23 | €11,504 | €22,732 | +€11,228 | +97.6% |
| Furniture and vehicles | 24 | €14,913 | €7,318 | -€7,594 | -50.9% |
| Current assets | 29/58 | €313,233 | €327,588 | +€14,355 | +4.6% |
| Amounts receivable within one year | 40/41 | €26,059 | €30,646 | +€4,587 | +17.6% |
| Trade receivables | 40 | €4,430 | €19,231 | +€14,802 | +334.2% |
| Other amounts receivable | 41 | €21,629 | €11,415 | -€10,215 | -47.2% |
| Cash at bank and in hand | 54/58 | €285,917 | €295,453 | +€9,536 | +3.3% |
| Deferred charges and accrued income | 490/1 | €1,257 | €1,489 | +€232 | +18.5% |
| Total equity and liabilities | 10/49 | €339,650 | €357,639 | +€17,988 | +5.3% |
| Equity | 10/15 | €281,445 | €286,373 | +€4,927 | +1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €262,845 | €267,773 | +€4,927 | +1.9% |
| Non-distributable reserves | 130/1 | €155,660 | €0 | -€155,660 | -100.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €153,800 | €0 | -€153,800 | -100.0% |
| Tax-exempt reserves | 132 | €50,750 | €50,750 | = | 0.0% |
| Distributable reserves | 133 | €56,435 | €217,023 | +€160,587 | +284.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €58,205 | €71,266 | +€13,061 | +22.4% |
| Amounts payable after more than one year | 17 | - | €10,719 | +€10,719 | |
| Financial debts | 170/4 | - | €10,719 | +€10,719 | |
| Amounts payable within one year | 42/48 | €57,817 | €60,547 | +€2,731 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | - | €4,910 | +€4,910 | |
| Trade debts | 44 | €19,765 | €21,374 | +€1,609 | +8.1% |
| Suppliers | 440/4 | €19,765 | €21,374 | +€1,609 | +8.1% |
| Taxes, remuneration and social security | 45 | €7,805 | €2,236 | -€5,569 | -71.4% |
| Taxes | 450/3 | €7,755 | €2,236 | -€5,519 | -71.2% |
| Remuneration and social security | 454/9 | €50 | €0 | -€50 | -100.0% |
| Other amounts payable | 47/48 | €30,247 | €32,028 | +€1,781 | +5.9% |
| Accrued charges and deferred income | 492/3 | €388 | €0 | -€388 | -100.0% |
| Remuneration, social security and pensions | 62 | €60,824 | €64,293 | +€3,469 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,344 | €17,665 | +€3,320 | +23.1% |
| Other operating charges | 640/8 | €1,699 | €1,374 | -€325 | -19.1% |
| Gross operating margin | 9900 | €152,848 | €136,218 | -€16,629 | -10.9% |
| Operating profit (loss) | 9901 | €75,981 | €52,886 | -€23,095 | -30.4% |
| Financial income | 75/76B | €942 | €2,190 | +€1,248 | +132.6% |
| Recurring financial income | 75 | €942 | €2,190 | +€1,248 | +132.6% |
| Financial charges | 65/66B | €5,880 | €5,818 | -€62 | -1.0% |
| Recurring financial charges | 65 | €5,880 | €5,818 | -€62 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €71,043 | €49,258 | -€21,784 | -30.7% |
| Income taxes | 67/77 | €20,992 | €14,208 | -€6,784 | -32.3% |
| Profit (loss) for the period | 9904 | €50,051 | €35,050 | -€15,000 | -30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,051 | €35,050 | -€15,000 | -30.0% |
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 11 October 2026 via checked.be.