K&E Works: 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&E Works
Largest movements
- Receivables within one year +€121,816
up €121,816 (+78.3%), from €155,618 to €277,433
of which Other amounts receivable: +€109,105
- Cash -€69,690
down €69,690 (-47.8%), from €145,882 to €76,192
mainly Receivables within one year (-€121,816) and Stocks and contracts (-€57,513)
- Stocks and contracts +€57,513
up €57,513 (+1745.5%), from €3,295 to €60,808
of which Contracts in progress: +€57,513
- Tangible fixed assets +€20,186
up €20,186 (+49.3%), from €40,906 to €61,092
of which Plant, machinery and equipment: +€25,931
- Profit (loss) carried forward +€144,650
up €144,650 (+141.9%), from €101,920 to €246,570
- Reserves -€65,400
down €65,400 (-52.4%), from €124,700 to €59,300
- Debts after one year +€55,067
up €55,067 (+249.7%), from €22,050 to €77,117
- Tax, wage and social debts -€20,399
no longer reported in 2025 (was €20,399)
- Current portion of long-term debt +€14,833
up €14,833 (+60.7%), from €24,423 to €39,256
- Gross operating margin -€28,270
down €28,270 (-24.1%), from €117,211 to €88,941
- Taxes -€15,042
down €15,042 (-55.9%), from €26,914 to €11,872
- Financial charges +€4,086
up €4,086 (+33.5%), from €12,179 to €16,265
- Depreciation +€2,773
up €2,773 (+20.7%), from €13,376 to €16,150
- Financial income +€1,328
up €1,328 (+54.3%), from €2,448 to €3,776
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 | €372,512 | €503,922 | +€131,410 | +35.3% |
| Fixed assets | 21/28 | €42,344 | €63,015 | +€20,672 | +48.8% |
| Intangible fixed assets | 21 | €1,438 | €1,924 | +€486 | +33.8% |
| Tangible fixed assets | 22/27 | €40,906 | €61,092 | +€20,186 | +49.3% |
| Plant, machinery and equipment | 23 | €18,497 | €44,428 | +€25,931 | +140.2% |
| Furniture and vehicles | 24 | €22,409 | €16,663 | -€5,746 | -25.6% |
| Current assets | 29/58 | €330,168 | €440,906 | +€110,739 | +33.5% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €3,295 | €60,808 | +€57,513 | +1745.5% |
| Stocks | 30/36 | €3,295 | €3,295 | = | 0.0% |
| Contracts in progress | 37 | - | €57,513 | +€57,513 | |
| Amounts receivable within one year | 40/41 | €155,618 | €277,433 | +€121,816 | +78.3% |
| Trade receivables | 40 | €113,697 | €126,407 | +€12,710 | +11.2% |
| Other amounts receivable | 41 | €41,921 | €151,026 | +€109,105 | +260.3% |
| Cash at bank and in hand | 54/58 | €145,882 | €76,192 | -€69,690 | -47.8% |
| Deferred charges and accrued income | 490/1 | €5,373 | €6,473 | +€1,099 | +20.5% |
| Total equity and liabilities | 10/49 | €372,512 | €503,922 | +€131,410 | +35.3% |
| Equity | 10/15 | €245,220 | €324,470 | +€79,250 | +32.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €124,700 | €59,300 | -€65,400 | -52.4% |
| Distributable reserves | 133 | €124,700 | €59,300 | -€65,400 | -52.4% |
| Profit (loss) carried forward | 14 | €101,920 | €246,570 | +€144,650 | +141.9% |
| Amounts payable | 17/49 | €127,292 | €179,452 | +€52,161 | +41.0% |
| Amounts payable after more than one year | 17 | €22,050 | €77,117 | +€55,067 | +249.7% |
| Financial debts | 170/4 | €22,050 | €77,117 | +€55,067 | +249.7% |
| Amounts payable within one year | 42/48 | €105,241 | €102,335 | -€2,906 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €24,423 | €39,256 | +€14,833 | +60.7% |
| Trade debts | 44 | €60,419 | €63,078 | +€2,660 | +4.4% |
| Suppliers | 440/4 | €60,419 | €63,078 | +€2,660 | +4.4% |
| Taxes, remuneration and social security | 45 | €20,399 | - | -€20,399 | |
| Taxes | 450/3 | €20,399 | - | -€20,399 | |
| Accrued charges and deferred income | 492/3 | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,376 | €16,150 | +€2,773 | +20.7% |
| Other operating charges | 640/8 | €1,711 | €1,447 | -€264 | -15.4% |
| Non-recurring operating charges | 66A | - | €7,016 | +€7,016 | |
| Gross operating margin | 9900 | €117,211 | €88,941 | -€28,270 | -24.1% |
| Operating profit (loss) | 9901 | €102,124 | €64,328 | -€37,796 | -37.0% |
| Financial income | 75/76B | €2,448 | €3,776 | +€1,328 | +54.3% |
| Recurring financial income | 75 | €2,448 | €3,776 | +€1,328 | +54.3% |
| Financial charges | 65/66B | €12,179 | €16,265 | +€4,086 | +33.5% |
| Recurring financial charges | 65 | €12,179 | €16,265 | +€4,086 | +33.5% |
| Profit (loss) for the period before taxes | 9903 | €92,392 | €51,839 | -€40,553 | -43.9% |
| Income taxes | 67/77 | €26,914 | €11,872 | -€15,042 | -55.9% |
| Profit (loss) for the period | 9904 | €65,479 | €39,968 | -€25,511 | -39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €65,479 | €39,968 | -€25,511 | -39.0% |
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.