K DEVELOPMENT: 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 DEVELOPMENT
Largest movements
- Receivables within one year -€13,219
down €13,219 (-54.9%), from €24,095 to €10,876
of which Trade receivables: -€13,189
- Deferred charges and accrued income -€12,096
down €12,096 (-25.2%), from €48,065 to €35,970
- Cash +€5,089
up €5,089 (+151%), from €3,372 to €8,461
mainly Receivables within one year (+€13,219) and Deferred charges and accrued income (+€12,096)
- Profit (loss) carried forward -€20,344
down €20,344 (-9.1%), from -€223,355 to -€243,699
- Other debts -€13,319
down €13,319 (-4.9%), from €271,003 to €257,685
- Tax, wage and social debts +€11,105
up €11,105 (+85.0%), from €13,060 to €24,165
of which Remuneration and social security: +€14,410
- Trade debts +€1,424
up €1,424 (+17.7%), from €8,030 to €9,454
- Depreciation -€158,492
down €158,492 (-99.6%), from €159,079 to €587
- Gross operating margin -€56,575
down €56,575 (-60.8%), from €93,065 to €36,490
- Financial charges -€28,667
down €28,667 (-96.9%), from €29,573 to €906
of which Non-recurring financial charges: -€29,380
- Staff costs -€1,111
down €1,111 (-2.4%), from €46,805 to €45,694
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 | €77,256 | €56,444 | -€20,812 | -26.9% |
| Fixed assets | 21/28 | €1,723 | €1,136 | -€587 | -34.0% |
| Tangible fixed assets | 22/27 | €1,723 | €1,136 | -€587 | -34.0% |
| Furniture and vehicles | 24 | €1,723 | €1,136 | -€587 | -34.0% |
| Current assets | 29/58 | €75,533 | €55,307 | -€20,226 | -26.8% |
| Amounts receivable within one year | 40/41 | €24,095 | €10,876 | -€13,219 | -54.9% |
| Trade receivables | 40 | €24,027 | €10,838 | -€13,189 | -54.9% |
| Other amounts receivable | 41 | €68 | €38 | -€30 | -43.6% |
| Cash at bank and in hand | 54/58 | €3,372 | €8,461 | +€5,089 | +151% |
| Deferred charges and accrued income | 490/1 | €48,065 | €35,970 | -€12,096 | -25.2% |
| Total equity and liabilities | 10/49 | €77,256 | €56,444 | -€20,812 | -26.9% |
| Equity | 10/15 | -€216,839 | -€237,183 | -€20,344 | -9.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €316 | €316 | = | 0.0% |
| Distributable reserves | 133 | €316 | €316 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€223,355 | -€243,699 | -€20,344 | -9.1% |
| Amounts payable | 17/49 | €294,095 | €293,626 | -€468 | -0.2% |
| Amounts payable within one year | 42/48 | €292,094 | €291,303 | -€790 | -0.3% |
| Trade debts | 44 | €8,030 | €9,454 | +€1,424 | +17.7% |
| Suppliers | 440/4 | €8,030 | €9,454 | +€1,424 | +17.7% |
| Taxes, remuneration and social security | 45 | €13,060 | €24,165 | +€11,105 | +85.0% |
| Taxes | 450/3 | €11,624 | €8,319 | -€3,305 | -28.4% |
| Remuneration and social security | 454/9 | €1,436 | €15,846 | +€14,410 | +1,003% |
| Other amounts payable | 47/48 | €271,003 | €257,685 | -€13,319 | -4.9% |
| Accrued charges and deferred income | 492/3 | €2,001 | €2,323 | +€322 | +16.1% |
| Remuneration, social security and pensions | 62 | €46,805 | €45,694 | -€1,111 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €159,079 | €587 | -€158,492 | -99.6% |
| Other operating charges | 640/8 | €8,931 | €9,286 | +€355 | +4.0% |
| Gross operating margin | 9900 | €93,065 | €36,490 | -€56,575 | -60.8% |
| Operating profit (loss) | 9901 | -€121,750 | -€19,076 | +€102,673 | +84.3% |
| Financial income | 75/76B | €28 | €48 | +€20 | +69.2% |
| Recurring financial income | 75 | €28 | €48 | +€20 | +69.2% |
| Financial charges | 65/66B | €29,573 | €906 | -€28,667 | -96.9% |
| Recurring financial charges | 65 | €193 | €906 | +€713 | +370% |
| Non-recurring financial charges | 66B | €29,380 | - | -€29,380 | |
| Profit (loss) for the period before taxes | 9903 | -€151,294 | -€19,934 | +€131,360 | +86.8% |
| Income taxes | 67/77 | €168 | €410 | +€242 | +144% |
| Profit (loss) for the period | 9904 | -€151,462 | -€20,344 | +€131,118 | +86.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€151,462 | -€20,344 | +€131,118 | +86.6% |
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 22 October 2026 via checked.be.