K-FARMA: 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-FARMA
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Advances received -€128,415
down €128,415 (-100%), from €128,415 to €0
- Reserves +€122,831
up €122,831 (+304%), from €40,342 to €163,173
- Other debts +€42,898
up €42,898 (+15.5%), from €277,112 to €320,010
- Debts after one year -€32,874
down €32,874 (-2.4%), from €1.4m to €1.3m
- Gross operating margin +€107,185
up €107,185 (+101%), from €105,909 to €213,093
- Taxes +€24,485
up €24,485 (+232%), from €10,576 to €35,061
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 | €1,929,623 | €1,939,472 | +€9,849 | +0.5% |
| Fixed assets | 21/28 | €1,904,076 | €1,903,695 | -€381 | 0.0% |
| Tangible fixed assets | 22/27 | €1,511 | €1,130 | -€381 | -25.2% |
| Plant, machinery and equipment | 23 | €1,511 | €1,130 | -€381 | -25.2% |
| Financial fixed assets | 28 | €1,902,565 | €1,902,565 | = | 0.0% |
| Current assets | 29/58 | €25,547 | €35,777 | +€10,230 | +40.0% |
| Amounts receivable within one year | 40/41 | €30 | €0 | -€30 | -100% |
| Trade receivables | 40 | €30 | €0 | -€30 | -100% |
| Cash at bank and in hand | 54/58 | €25,517 | €35,777 | +€10,260 | +40.2% |
| Total equity and liabilities | 10/49 | €1,929,623 | €1,939,472 | +€9,849 | +0.5% |
| Equity | 10/15 | €45,342 | €168,173 | +€122,831 | +271% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €40,342 | €163,173 | +€122,831 | +304% |
| Distributable reserves | 133 | €40,342 | €163,173 | +€122,831 | +304% |
| Amounts payable | 17/49 | €1,884,281 | €1,771,299 | -€112,982 | -6.0% |
| Amounts payable after more than one year | 17 | €1,364,279 | €1,331,406 | -€32,874 | -2.4% |
| Financial debts | 170/4 | €1,364,279 | €1,331,406 | -€32,874 | -2.4% |
| Amounts payable within one year | 42/48 | €517,892 | €437,853 | -€80,039 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €109,043 | €112,874 | +€3,830 | +3.5% |
| Trade debts | 44 | €15 | €792 | +€777 | +5,179% |
| Suppliers | 440/4 | €15 | €792 | +€777 | +5,179% |
| Advances received on contracts in progress | 46 | €128,415 | €0 | -€128,415 | -100% |
| Taxes, remuneration and social security | 45 | €3,307 | €4,178 | +€871 | +26.4% |
| Taxes | 450/3 | €3,307 | €4,178 | +€871 | +26.4% |
| Other amounts payable | 47/48 | €277,112 | €320,010 | +€42,898 | +15.5% |
| Accrued charges and deferred income | 492/3 | €2,110 | €2,040 | -€70 | -3.3% |
| Remuneration, social security and pensions | 62 | €1,520 | €1,658 | +€138 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €395 | €381 | -€14 | -3.4% |
| Other operating charges | 640/8 | €565 | €300 | -€265 | -46.9% |
| Gross operating margin | 9900 | €105,909 | €213,093 | +€107,185 | +101% |
| Operating profit (loss) | 9901 | €103,429 | €210,754 | +€107,325 | +104% |
| Financial income | 75/76B | €21 | €12 | -€8 | -39.8% |
| Recurring financial income | 75 | €21 | €12 | -€8 | -39.8% |
| Financial charges | 65/66B | €52,531 | €52,875 | +€344 | +0.7% |
| Recurring financial charges | 65 | €52,531 | €52,875 | +€344 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €50,918 | €157,892 | +€106,973 | +210% |
| Income taxes | 67/77 | €10,576 | €35,061 | +€24,485 | +232% |
| Profit (loss) for the period | 9904 | €40,342 | €122,831 | +€82,488 | +204% |
| Profit (loss) for the period to be appropriated | 9905 | €40,342 | €122,831 | +€82,488 | +204% |
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.