K-Drive: 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-Drive
Largest movements
- Financial fixed assets +€1.1m
up €1.1m (+56.6%), from €1.9m to €3.1m
- Receivables within one year +€116,526
up €116,526 (+2.6%), from €4.5m to €4.6m
of which Other amounts receivable: +€132,538
- Contributions +€1.0m
up €1.0m (+5,376%), from €18,600 to €1.0m
- Other debts +€254,979
up €254,979 (+17.1%), from €1.5m to €1.7m
- Debts after one year +€204,754
up €204,754 (+67.6%), from €302,951 to €507,705
- Current portion of long-term debt -€204,496
down €204,496 (-74.0%), from €276,177 to €71,681
- Accrued charges and deferred income +€91,540
up €91,540 (+10,470%), from €874 to €92,414
- Financial charges +€110,650
up €110,650 (+126%), from €88,022 to €198,672
- Gross operating margin -€42,287
down €42,287 (-20.7%), from €204,134 to €161,847
- Financial income -€38,034
down €38,034 (-11.6%), from €328,806 to €290,772
- Taxes -€36,272
down €36,272 (-35.3%), from €102,803 to €66,531
- Other operating charges +€4,177
up €4,177 (+91.7%), from €4,555 to €8,732
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 | €7,692,143 | €9,000,525 | +€1.3m | +17.0% |
| Fixed assets | 21/28 | €2,782,870 | €3,889,111 | +€1.1m | +39.8% |
| Tangible fixed assets | 22/27 | €835,337 | €838,512 | +€3,175 | +0.4% |
| Land and buildings | 22 | €801,471 | €810,704 | +€9,233 | +1.2% |
| Furniture and vehicles | 24 | €33,866 | €27,809 | -€6,057 | -17.9% |
| Financial fixed assets | 28 | €1,947,533 | €3,050,598 | +€1.1m | +56.6% |
| Current assets | 29/58 | €4,909,273 | €5,111,414 | +€202,142 | +4.1% |
| Amounts receivable within one year | 40/41 | €4,471,284 | €4,587,810 | +€116,526 | +2.6% |
| Trade receivables | 40 | €16,012 | - | -€16,012 | |
| Other amounts receivable | 41 | €4,455,271 | €4,587,810 | +€132,538 | +3.0% |
| Current investments | 50/53 | €80,745 | €86,331 | +€5,586 | +6.9% |
| Cash at bank and in hand | 54/58 | €27,967 | €70,709 | +€42,743 | +153% |
| Deferred charges and accrued income | 490/1 | €329,277 | €366,564 | +€37,287 | +11.3% |
| Total equity and liabilities | 10/49 | €7,692,143 | €9,000,525 | +€1.3m | +17.0% |
| Equity | 10/15 | €4,074,875 | €5,043,174 | +€968,299 | +23.8% |
| Contributions | 10/11 | €18,600 | €1,018,600 | +€1.0m | +5,376% |
| Reserves | 13 | €1,773,648 | €1,705,468 | -€68,180 | -3.8% |
| Tax-exempt reserves | 132 | €145,700 | €105,820 | -€39,880 | -27.4% |
| Distributable reserves | 133 | €1,627,948 | €1,599,648 | -€28,300 | -1.7% |
| Profit (loss) carried forward | 14 | €2,282,627 | €2,319,106 | +€36,479 | +1.6% |
| Amounts payable | 17/49 | €3,617,268 | €3,957,351 | +€340,083 | +9.4% |
| Amounts payable after more than one year | 17 | €302,951 | €507,705 | +€204,754 | +67.6% |
| Financial debts | 170/4 | €302,951 | €507,705 | +€204,754 | +67.6% |
| Amounts payable within one year | 42/48 | €3,313,442 | €3,357,231 | +€43,789 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €276,177 | €71,681 | -€204,496 | -74.0% |
| Financial debts | 43 | €1,466,691 | €1,397,000 | -€69,691 | -4.8% |
| Credit institutions | 430/8 | €1,415,000 | €1,397,000 | -€18,000 | -1.3% |
| Other loans | 439 | €51,691 | - | -€51,691 | |
| Trade debts | 44 | €41,291 | €117,491 | +€76,200 | +185% |
| Suppliers | 440/4 | €41,291 | €117,491 | +€76,200 | +185% |
| Taxes, remuneration and social security | 45 | €42,108 | €28,904 | -€13,204 | -31.4% |
| Taxes | 450/3 | €42,108 | €28,904 | -€13,204 | -31.4% |
| Other amounts payable | 47/48 | €1,487,176 | €1,742,155 | +€254,979 | +17.1% |
| Accrued charges and deferred income | 492/3 | €874 | €92,414 | +€91,540 | +10,470% |
| Non-recurring operating income | 76A | €5,000 | €5,917 | +€917 | +18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,473 | €36,385 | +€913 | +2.6% |
| Other operating charges | 640/8 | €4,555 | €8,732 | +€4,177 | +91.7% |
| Gross operating margin | 9900 | €204,134 | €161,847 | -€42,287 | -20.7% |
| Operating profit (loss) | 9901 | €164,106 | €116,730 | -€47,377 | -28.9% |
| Financial income | 75/76B | €328,806 | €290,772 | -€38,034 | -11.6% |
| Recurring financial income | 75 | €328,806 | €290,772 | -€38,034 | -11.6% |
| Financial charges | 65/66B | €88,022 | €198,672 | +€110,650 | +126% |
| Recurring financial charges | 65 | €88,022 | €198,672 | +€110,650 | +126% |
| Profit (loss) for the period before taxes | 9903 | €404,891 | €208,830 | -€196,061 | -48.4% |
| Income taxes | 67/77 | €102,803 | €66,531 | -€36,272 | -35.3% |
| Profit (loss) for the period | 9904 | €302,087 | €142,299 | -€159,789 | -52.9% |
| Transfer from tax-exempt reserves | 789 | - | €145,700 | +€145,700 | |
| Transfer to tax-exempt reserves | 689 | - | €105,820 | +€105,820 | |
| Profit (loss) for the period to be appropriated | 9905 | €302,087 | €182,179 | -€119,909 | -39.7% |
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 24 October 2026 via checked.be.