K & G: 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 & G
Largest movements
- Financial fixed assets -€299,252
down €299,252 (-50.0%), from €598,504 to €299,252
- Tangible fixed assets -€184,700
down €184,700 (-29.0%), from €637,959 to €453,259
- Receivables within one year +€80,787
up €80,787 (+158.0%), from €51,129 to €131,916
of which Trade receivables: +€73,701
- Reserves -€380,069
down €380,069 (-40.5%), from €938,961 to €558,892
of which Distributable reserves: -€377,787
- Debts after one year -€53,203
down €53,203 (-24.0%), from €221,311 to €168,108
- Tax, wage and social debts +€21,395
up €21,395 (+204.4%), from €10,466 to €31,861
of which Taxes: +€18,895
- Financial income -€381,521
down €381,521 (-100.0%), from €381,521 to €0
- Gross operating margin +€105,258
up €105,258 (+153.9%), from €68,407 to €173,665
- Taxes +€29,912
up €29,912 (+742.9%), from €4,026 to €33,938
- Depreciation +€19,847
up €19,847 (+50.4%), from €39,346 to €59,193
- Financial charges -€10,731
down €10,731 (-65.5%), from €16,389 to €5,658
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,303,224 | €885,359 | -€417,865 | -32.1% |
| Fixed assets | 21/28 | €1,236,463 | €752,511 | -€483,952 | -39.1% |
| Tangible fixed assets | 22/27 | €637,959 | €453,259 | -€184,700 | -29.0% |
| Land and buildings | 22 | €637,959 | €453,259 | -€184,700 | -29.0% |
| Financial fixed assets | 28 | €598,504 | €299,252 | -€299,252 | -50.0% |
| Current assets | 29/58 | €66,761 | €132,848 | +€66,087 | +99.0% |
| Amounts receivable within one year | 40/41 | €51,129 | €131,916 | +€80,787 | +158.0% |
| Trade receivables | 40 | €50,000 | €123,701 | +€73,701 | +147.4% |
| Other amounts receivable | 41 | €1,129 | €8,216 | +€7,087 | +627.7% |
| Cash at bank and in hand | 54/58 | €8,719 | €932 | -€7,787 | -89.3% |
| Deferred charges and accrued income | 490/1 | €6,914 | - | -€6,914 | |
| Total equity and liabilities | 10/49 | €1,303,224 | €885,359 | -€417,865 | -32.1% |
| Equity | 10/15 | €957,561 | €568,572 | -€388,989 | -40.6% |
| Contributions | 10/11 | €18,600 | €9,681 | -€8,919 | -48.0% |
| Reserves | 13 | €938,961 | €558,892 | -€380,069 | -40.5% |
| Non-distributable reserves | 130/1 | €4,760 | €2,477 | -€2,283 | -48.0% |
| Reserves not available under the articles | 1311 | €4,760 | €2,477 | -€2,283 | -48.0% |
| Distributable reserves | 133 | €934,201 | €556,414 | -€377,787 | -40.4% |
| Amounts payable | 17/49 | €345,664 | €316,787 | -€28,877 | -8.4% |
| Amounts payable after more than one year | 17 | €221,311 | €168,108 | -€53,203 | -24.0% |
| Financial debts | 170/4 | €221,311 | €168,108 | -€53,203 | -24.0% |
| Amounts payable within one year | 42/48 | €124,353 | €148,679 | +€24,326 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €35,194 | €35,524 | +€330 | +0.9% |
| Trade debts | 44 | €1,622 | - | -€1,622 | |
| Suppliers | 440/4 | €1,622 | - | -€1,622 | |
| Taxes, remuneration and social security | 45 | €10,466 | €31,861 | +€21,395 | +204.4% |
| Taxes | 450/3 | €10,466 | €29,361 | +€18,895 | +180.5% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €77,070 | €81,294 | +€4,224 | +5.5% |
| Non-recurring operating income | 76A | - | €17,344 | +€17,344 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,346 | €59,193 | +€19,847 | +50.4% |
| Other operating charges | 640/8 | €4,352 | €4,679 | +€328 | +7.5% |
| Gross operating margin | 9900 | €68,407 | €173,665 | +€105,258 | +153.9% |
| Operating profit (loss) | 9901 | €24,710 | €109,793 | +€85,083 | +344.3% |
| Financial income | 75/76B | €381,521 | €0 | -€381,521 | -100.0% |
| Recurring financial income | 75 | €381,521 | €0 | -€381,521 | -100.0% |
| Financial charges | 65/66B | €16,389 | €5,658 | -€10,731 | -65.5% |
| Recurring financial charges | 65 | €16,389 | €5,658 | -€10,731 | -65.5% |
| Profit (loss) for the period before taxes | 9903 | €389,842 | €104,135 | -€285,707 | -73.3% |
| Income taxes | 67/77 | €4,026 | €33,938 | +€29,912 | +742.9% |
| Profit (loss) for the period | 9904 | €385,816 | €70,197 | -€315,618 | -81.8% |
| Profit (loss) for the period to be appropriated | 9905 | €385,816 | €70,197 | -€315,618 | -81.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 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.