K-ELEC: 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-ELEC
Largest movements
- Receivables within one year +€44,456
up €44,456 (+44.5%), from €99,924 to €144,380
of which Trade receivables: +€33,603
- Cash -€6,648
down €6,648 (-91.5%), from €7,268 to €620
mainly Receivables within one year (-€44,456) and Tax, wage and social debts (-€9,405)
- Tangible fixed assets -€2,860
down €2,860 (-19.6%), from €14,623 to €11,763
of which Plant, machinery and equipment: -€3,632
- Reserves +€33,378
up €33,378 (+23.5%), from €141,900 to €175,278
of which Distributable reserves: +€33,378
- Tax, wage and social debts -€9,405
down €9,405 (-20.3%), from €46,419 to €37,014
of which Taxes: -€10,568
- Other debts +€9,144
up €9,144 (+191%), from €4,797 to €13,940
- Gross operating margin -€39,755
down €39,755 (-22.3%), from €178,352 to €138,597
- Other operating charges +€36,328
up €36,328 (+819%), from €4,435 to €40,762
- Staff costs -€22,927
down €22,927 (-34.7%), from €66,036 to €43,109
- Taxes -€11,396
down €11,396 (-42.9%), from €26,578 to €15,182
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 | €242,745 | €275,031 | +€32,286 | +13.3% |
| Fixed assets | 21/28 | €14,623 | €11,763 | -€2,860 | -19.6% |
| Tangible fixed assets | 22/27 | €14,623 | €11,763 | -€2,860 | -19.6% |
| Plant, machinery and equipment | 23 | €10,318 | €6,686 | -€3,632 | -35.2% |
| Furniture and vehicles | 24 | €4,305 | €5,077 | +€772 | +17.9% |
| Current assets | 29/58 | €228,122 | €263,269 | +€35,147 | +15.4% |
| Stocks and contracts in progress | 3 | €117,000 | €117,000 | = | 0.0% |
| Stocks | 30/36 | €117,000 | €117,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €99,924 | €144,380 | +€44,456 | +44.5% |
| Trade receivables | 40 | €90,670 | €124,273 | +€33,603 | +37.1% |
| Other amounts receivable | 41 | €9,253 | €20,106 | +€10,853 | +117% |
| Cash at bank and in hand | 54/58 | €7,268 | €620 | -€6,648 | -91.5% |
| Deferred charges and accrued income | 490/1 | €3,930 | €1,269 | -€2,661 | -67.7% |
| Total equity and liabilities | 10/49 | €242,745 | €275,031 | +€32,286 | +13.3% |
| Equity | 10/15 | €181,868 | €215,247 | +€33,378 | +18.4% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €141,900 | €175,278 | +€33,378 | +23.5% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €140,000 | €173,378 | +€33,378 | +23.8% |
| Profit (loss) carried forward | 14 | €20,968 | €20,968 | = | 0.0% |
| Amounts payable | 17/49 | €60,877 | €59,785 | -€1,092 | -1.8% |
| Amounts payable within one year | 42/48 | €60,877 | €59,785 | -€1,092 | -1.8% |
| Trade debts | 44 | €9,662 | €8,831 | -€831 | -8.6% |
| Suppliers | 440/4 | €2,662 | €8,831 | +€6,169 | +232% |
| Bills of exchange payable | 441 | €7,000 | - | -€7,000 | |
| Taxes, remuneration and social security | 45 | €46,419 | €37,014 | -€9,405 | -20.3% |
| Taxes | 450/3 | €37,166 | €26,598 | -€10,568 | -28.4% |
| Remuneration and social security | 454/9 | €9,253 | €10,416 | +€1,163 | +12.6% |
| Other amounts payable | 47/48 | €4,797 | €13,940 | +€9,144 | +191% |
| Remuneration, social security and pensions | 62 | €66,036 | €43,109 | -€22,927 | -34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,298 | €6,194 | -€104 | -1.7% |
| Other operating charges | 640/8 | €4,435 | €40,762 | +€36,328 | +819% |
| Gross operating margin | 9900 | €178,352 | €138,597 | -€39,755 | -22.3% |
| Operating profit (loss) | 9901 | €101,583 | €48,532 | -€53,051 | -52.2% |
| Financial income | 75/76B | €41 | €177 | +€136 | +333% |
| Recurring financial income | 75 | €41 | €177 | +€136 | +333% |
| Financial charges | 65/66B | €1,302 | €148 | -€1,154 | -88.6% |
| Recurring financial charges | 65 | €1,302 | €148 | -€1,154 | -88.6% |
| Profit (loss) for the period before taxes | 9903 | €100,322 | €48,561 | -€51,761 | -51.6% |
| Income taxes | 67/77 | €26,578 | €15,182 | -€11,396 | -42.9% |
| Profit (loss) for the period | 9904 | €73,744 | €33,378 | -€40,365 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €73,744 | €33,378 | -€40,365 | -54.7% |
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 14 October 2026 via checked.be.