K & E Management & Invest: what changed
What changed
K & E Management & Invest
NACE 72.200, Scientific research and development
filed annual accounts (NBB)
Net result for the year
€932,361
2024 · €371,121+€561,240
Equity
€3.5m
2024 · €3.0m+€496,947
Cash
€339,540
2024 · €425,897-€86,356
Balance sheet total
€4.5m
2024 · €3.1m+€1.4m
Largest movements
Assets
- Tangible fixed assets +€2.0m
up €2.0m (+95.7%), from €2.1m to €4.1m
of which Land and buildings: +€1.9m
- Current investments -€500,000
no longer reported in 2025 (was €500,000)
- Cash -€86,356
down €86,356 (-20.3%), from €425,897 to €339,540
mainly Investment in fixed assets (net) (-€2.1m) and Contributions, distributions and other (-€435,415)
Equity and liabilities
- Tax, wage and social debts +€510,864
up €510,864 (+7,890%), from €6,475 to €517,339
of which Taxes: +€512,978
- Reserves +€496,947
up €496,947 (+16.6%), from €3.0m to €3.5m
of which Distributable reserves: +€496,947
- Other debts +€426,536
up €426,536 (+4,340%), from €9,828 to €436,365
Income statement
- Gross operating margin +€893,117
up €893,117 (+143%), from €625,249 to €1.5m
- Taxes +€286,343
up €286,343 (+171%), from €167,795 to €454,138
- Financial income -€29,202
down €29,202 (-72.8%), from €40,093 to €10,891
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€371,121
Gross operating margin
+€893,117
Depreciation
-€4,646
Other operating charges
+€1,886
Financial income
-€29,202
Financial charges
-€13,573
Taxes
-€286,343
Result 2025
€932,361
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.0m
Investment
-€1.6m
Financing
-€460,415
Cash 2024
€425,897
From operations (derived)
+€2.0m
Net result for the year
+€932,361
Depreciation
+€115,824
Receivables within one year
-€6,463
Smaller working-capital items
-€1,853
Trade debts
+€10,455
Tax, wage and social debts
+€510,864
Other debts
+€426,536
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€2.1m
Current investments
+€500,000
Financing
-€460,415
Debts after one year
-€27,083
Current portion of long-term debt
+€2,083
Contributions, distributions and other
-€435,415
Cash 2025
€339,540
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,099,589 | €4,519,955 | +€1.4m | +45.8% |
| Fixed assets | 21/28 | €2,086,652 | €4,084,494 | +€2.0m | +95.7% |
| Tangible fixed assets | 22/27 | €2,086,562 | €4,084,404 | +€2.0m | +95.7% |
| Land and buildings | 22 | €2,077,271 | €3,982,061 | +€1.9m | +91.7% |
| Plant, machinery and equipment | 23 | - | €9,581 | +€9,581 | |
| Furniture and vehicles | 24 | €9,291 | €92,762 | +€83,471 | +898% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €1,012,936 | €435,461 | -€577,476 | -57.0% |
| Amounts receivable within one year | 40/41 | €86,408 | €92,871 | +€6,463 | +7.5% |
| Trade receivables | 40 | €12,357 | €12,831 | +€475 | +3.8% |
| Other amounts receivable | 41 | €74,051 | €80,040 | +€5,988 | +8.1% |
| Current investments | 50/53 | €500,000 | - | -€500,000 | |
| Cash at bank and in hand | 54/58 | €425,897 | €339,540 | -€86,356 | -20.3% |
| Deferred charges and accrued income | 490/1 | €632 | €3,049 | +€2,417 | +383% |
| Total equity and liabilities | 10/49 | €3,099,589 | €4,519,955 | +€1.4m | +45.8% |
| Equity | 10/15 | €2,998,517 | €3,495,464 | +€496,947 | +16.6% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €2,986,017 | €3,482,964 | +€496,947 | +16.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,984,157 | €3,481,104 | +€496,947 | +16.7% |
| Amounts payable | 17/49 | €101,071 | €1,024,491 | +€923,420 | +914% |
| Amounts payable after more than one year | 17 | €52,690 | €25,607 | -€27,083 | -51.4% |
| Financial debts | 170/4 | €52,083 | €24,999 | -€27,083 | -52.0% |
| Other amounts payable | 178/9 | €608 | €608 | = | 0.0% |
| Amounts payable within one year | 42/48 | €48,381 | €998,884 | +€950,503 | +1,965% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €27,083 | +€2,083 | +8.3% |
| Trade debts | 44 | €7,078 | €17,533 | +€10,455 | +148% |
| Suppliers | 440/4 | €7,078 | €17,533 | +€10,455 | +148% |
| Advances received on contracts in progress | 46 | - | €564 | +€564 | |
| Taxes, remuneration and social security | 45 | €6,475 | €517,339 | +€510,864 | +7,890% |
| Taxes | 450/3 | €4,361 | €517,339 | +€512,978 | +11,763% |
| Remuneration and social security | 454/9 | €2,114 | - | -€2,114 | |
| Other amounts payable | 47/48 | €9,828 | €436,365 | +€426,536 | +4,340% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,178 | €115,824 | +€4,646 | +4.2% |
| Other operating charges | 640/8 | €11,612 | €9,726 | -€1,886 | -16.2% |
| Gross operating margin | 9900 | €625,249 | €1,518,366 | +€893,117 | +143% |
| Operating profit (loss) | 9901 | €502,458 | €1,392,816 | +€890,357 | +177% |
| Financial income | 75/76B | €40,093 | €10,891 | -€29,202 | -72.8% |
| Recurring financial income | 75 | €40,093 | €10,891 | -€29,202 | -72.8% |
| Financial charges | 65/66B | €3,634 | €17,207 | +€13,573 | +373% |
| Recurring financial charges | 65 | €3,634 | €17,207 | +€13,573 | +373% |
| Profit (loss) for the period before taxes | 9903 | €538,917 | €1,386,500 | +€847,583 | +157% |
| Income taxes | 67/77 | €167,795 | €454,138 | +€286,343 | +171% |
| Profit (loss) for the period | 9904 | €371,121 | €932,361 | +€561,240 | +151% |
| Profit (loss) for the period to be appropriated | 9905 | €371,121 | €932,361 | +€561,240 | +151% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.