K.EUR 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.
What changed
K.EUR Development
NACE 41.003, General construction of other non-residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€13,893
2024 · -€135,179+€121,287
Equity
€441,330
2024 · €455,222-€13,893
Cash
€2.0m
2024 · €1.9m+€110,548
Balance sheet total
€12.9m
2024 · €10.8m+€2.0m
Largest movements
Assets
- Stocks and contracts -€2.7m
no longer reported in 2025 (was €2.7m)
- Receivables within one year +€2.4m
up €2.4m (+84.9%), from €2.8m to €5.3m
of which Trade receivables: +€2.4m
- Current investments +€2.2m
up €2.2m (+64.9%), from €3.4m to €5.6m
Equity and liabilities
- Accrued charges and deferred income +€1.4m
up €1.4m (+33.4%), from €4.3m to €5.8m
- Trade debts +€1.4m
up €1.4m (+74.4%), from €1.8m to €3.2m
- Debts after one year -€769,832
down €769,832 (-18.3%), from €4.2m to €3.4m
Income statement
- Turnover -€28.1m
down €28.1m (-76.8%), from €36.5m to €8.5m
- Goods and materials +€2.9m
up €2.9m (+46.7%), from €6.1m to €9.0m
of which Change in stocks: decrease (increase): +€3.7m
- Write-downs -€564,319
down €564,319, from €72,041 to -€492,279
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.
Result 2024
-€135,179
Turnover
-€28.1m
Other operating income
-€48,276
Goods and materials
-€2.9m
Services and other goods
-€373
Write-downs
+€564,319
Other operating charges
-€12
Other operating items
+€30.5m
Financial income
+€1,844
Financial charges
+€69,805
Taxes
+€102
Result 2025
-€13,893
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.1m
Investment
-€2.2m
Financing
-€769,832
Cash 2024
€1.9m
From operations (derived)
+€3.1m
Net result for the year
-€13,893
Stocks and contracts
+€2.7m
Receivables within one year
-€2.4m
Trade debts
+€1.4m
Tax, wage and social debts
+€4,695
Accrued charges and deferred income
+€1.4m
Investment (derived)
-€2.2m
Current investments
-€2.2m
Financing
-€769,832
Debts after one year
-€769,832
Cash 2025
€2.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,835,664 | €12,860,982 | +€2.0m | +18.7% |
| Current assets | 29/58 | €10,835,664 | €12,860,982 | +€2.0m | +18.7% |
| Stocks and contracts in progress | 3 | €2,709,813 | - | -€2.7m | |
| Stocks | 30/36 | €2,709,813 | - | -€2.7m | |
| Property held for sale | 35 | €2,709,813 | - | -€2.7m | |
| Amounts receivable within one year | 40/41 | €2,843,424 | €5,257,007 | +€2.4m | +84.9% |
| Trade receivables | 40 | €2,827,011 | €5,257,007 | +€2.4m | +86.0% |
| Other amounts receivable | 41 | €16,413 | - | -€16,413 | |
| Current investments | 50/53 | €3,406,000 | €5,617,000 | +€2.2m | +64.9% |
| Other investments | 51/53 | €3,406,000 | €5,617,000 | +€2.2m | +64.9% |
| Cash at bank and in hand | 54/58 | €1,876,427 | €1,986,975 | +€110,548 | +5.9% |
| Total equity and liabilities | 10/49 | €10,835,664 | €12,860,982 | +€2.0m | +18.7% |
| Equity | 10/15 | €455,222 | €441,330 | -€13,893 | -3.1% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Uncalled capital | 101 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €4,520 | €4,520 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,520 | €4,520 | = | 0.0% |
| Legal reserve | 130 | €4,520 | €4,520 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,298 | -€63,190 | -€13,893 | -28.2% |
| Amounts payable | 17/49 | €10,380,442 | €12,419,652 | +€2.0m | +19.6% |
| Amounts payable after more than one year | 17 | €4,197,986 | €3,428,153 | -€769,832 | -18.3% |
| Financial debts | 170/4 | €4,197,986 | €3,428,153 | -€769,832 | -18.3% |
| Other loans | 174 | €4,197,986 | €3,428,153 | -€769,832 | -18.3% |
| Amounts payable within one year | 42/48 | €1,850,139 | €3,212,612 | +€1.4m | +73.6% |
| Trade debts | 44 | €1,825,795 | €3,183,573 | +€1.4m | +74.4% |
| Suppliers | 440/4 | €1,825,795 | €3,183,573 | +€1.4m | +74.4% |
| Taxes, remuneration and social security | 45 | €24,344 | €29,039 | +€4,695 | +19.3% |
| Taxes | 450/3 | €24,344 | €29,039 | +€4,695 | +19.3% |
| Accrued charges and deferred income | 492/3 | €4,332,317 | €5,778,887 | +€1.4m | +33.4% |
| Operating income | 70/76A | €6,269,626 | €8,614,710 | +€2.3m | +37.4% |
| Turnover | 70 | €36,539,250 | €8,469,560 | -€28.1m | -76.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€30,463,051 | - | +€30.5m | |
| Other operating income | 74 | €193,426 | €145,150 | -€48,276 | -25.0% |
| Operating charges | 60/66A | €6,206,413 | €8,501,962 | +€2.3m | +37.0% |
| Goods for resale, raw materials and consumables | 60 | €6,128,155 | €8,987,639 | +€2.9m | +46.7% |
| Purchases | 600/8 | €6,596,753 | €5,785,547 | -€811,206 | -12.3% |
| Change in stocks: decrease (increase) | 609 | -€468,599 | €3,202,092 | +€3.7m | |
| Services and other goods | 61 | €5,110 | €5,483 | +€373 | +7.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €72,041 | -€492,279 | -€564,319 | |
| Other operating charges | 640/8 | €1,107 | €1,118 | +€12 | +1.0% |
| Operating profit (loss) | 9901 | €63,213 | €112,749 | +€49,535 | +78.4% |
| Financial income | 75/76B | - | €1,844 | +€1,844 | |
| Recurring financial income | 75 | - | €1,844 | +€1,844 | |
| Income from current assets | 751 | - | €1,844 | +€1,844 | |
| Financial charges | 65/66B | €198,290 | €128,485 | -€69,805 | -35.2% |
| Recurring financial charges | 65 | €198,290 | €128,485 | -€69,805 | -35.2% |
| Debt charges | 650 | €197,986 | €128,153 | -€69,832 | -35.3% |
| Other financial charges | 652/9 | €304 | €332 | +€28 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | -€135,077 | -€13,893 | +€121,184 | +89.7% |
| Income taxes | 67/77 | €102 | - | -€102 | |
| Taxes | 670/3 | €102 | - | -€102 | |
| Profit (loss) for the period | 9904 | -€135,179 | -€13,893 | +€121,287 | +89.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€135,179 | -€13,893 | +€121,287 | +89.7% |
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 18 October 2026 via checked.be.