K FORMATION: what changed
Two fiscal 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 FORMATION
Largest movements
- Tangible fixed assets -€17,043
down €17,043 (-7.1%), from €239,670 to €222,627
- Receivables within one year +€4,520
up €4,520 (+49.6%), from €9,112 to €13,633
- Debts after one year -€42,623
down €42,623 (-56.1%), from €76,043 to €33,420
- Profit (loss) carried forward +€17,232
up €17,232, from -€17,175 to €57
- Tax, wage and social debts +€7,760
up €7,760 (+356.2%), from €2,179 to €9,939
- Reserves +€6,000
up €6,000 (+14.4%), from €41,800 to €47,800
- Gross operating margin +€6,355
up €6,355 (+12.9%), from €49,160 to €55,515
- Taxes +€5,851
up €5,851 (+292.5%), from €2,000 to €7,851
- Financial charges -€1,592
down €1,592 (-30.2%), from €5,276 to €3,683
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 | €249,553 | €236,963 | -€12,589 | -5.0% |
| Fixed assets | 21/28 | €239,670 | €222,627 | -€17,043 | -7.1% |
| Tangible fixed assets | 22/27 | €239,670 | €222,627 | -€17,043 | -7.1% |
| Land and buildings | 22 | €239,670 | €222,627 | -€17,043 | -7.1% |
| Current assets | 29/58 | €9,882 | €14,336 | +€4,454 | +45.1% |
| Amounts receivable within one year | 40/41 | €9,112 | €13,633 | +€4,520 | +49.6% |
| Other amounts receivable | 41 | €9,112 | €13,633 | +€4,520 | +49.6% |
| Cash at bank and in hand | 54/58 | €459 | €457 | -€2 | -0.5% |
| Deferred charges and accrued income | 490/1 | €311 | €247 | -€65 | -20.7% |
| Total equity and liabilities | 10/49 | €249,553 | €236,963 | -€12,589 | -5.0% |
| Equity | 10/15 | €122,625 | €145,857 | +€23,232 | +18.9% |
| Contributions | 10/11 | €98,000 | €98,000 | = | 0.0% |
| Reserves | 13 | €41,800 | €47,800 | +€6,000 | +14.4% |
| Distributable reserves | 133 | €41,800 | €47,800 | +€6,000 | +14.4% |
| Profit (loss) carried forward | 14 | -€17,175 | €57 | +€17,232 | |
| Amounts payable | 17/49 | €126,927 | €91,106 | -€35,822 | -28.2% |
| Amounts payable after more than one year | 17 | €76,043 | €33,420 | -€42,623 | -56.1% |
| Financial debts | 170/4 | €76,043 | €33,420 | -€42,623 | -56.1% |
| Amounts payable within one year | 42/48 | €50,885 | €57,686 | +€6,802 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €41,288 | €42,623 | +€1,335 | +3.2% |
| Trade debts | 44 | €2,071 | €781 | -€1,290 | -62.3% |
| Suppliers | 440/4 | €2,071 | €781 | -€1,290 | -62.3% |
| Taxes, remuneration and social security | 45 | €2,179 | €9,939 | +€7,760 | +356.2% |
| Taxes | 450/3 | €2,179 | €9,939 | +€7,760 | +356.2% |
| Other amounts payable | 47/48 | €5,347 | €4,343 | -€1,004 | -18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,597 | €17,043 | -€554 | -3.1% |
| Other operating charges | 640/8 | €3,598 | €3,707 | +€109 | +3.0% |
| Gross operating margin | 9900 | €49,160 | €55,515 | +€6,355 | +12.9% |
| Operating profit (loss) | 9901 | €27,966 | €34,766 | +€6,800 | +24.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €5,276 | €3,683 | -€1,592 | -30.2% |
| Recurring financial charges | 65 | €5,276 | €3,683 | -€1,592 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €22,690 | €31,083 | +€8,393 | +37.0% |
| Income taxes | 67/77 | €2,000 | €7,851 | +€5,851 | +292.5% |
| Profit (loss) for the period | 9904 | €20,690 | €23,232 | +€2,542 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,690 | €23,232 | +€2,542 | +12.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.