K-Invest: what changed
K-Invest
Largest movements
- Stocks and contracts -€272,390
down €272,390 (-17.4%), from €1.6m to €1.3m
- Receivables within one year -€124,665
down €124,665 (-87.6%), from €142,293 to €17,628
of which Other amounts receivable: -€95,577
- Cash +€32,709
up €32,709 (+41.7%), from €78,513 to €111,221
mainly Stocks and contracts (+€272,390) and Tax, wage and social debts (+€145,308)
- Short-term financial debts -€437,699
down €437,699 (-53.3%), from €821,163 to €383,464
- Tax, wage and social debts +€145,308
up €145,308 (+3,297%), from €4,408 to €149,716
- Reserves -€130,071
down €130,071 (-13.3%), from €979,616 to €849,545
of which Distributable reserves: -€128,211
- Other debts +€63,414
up €63,414 (+82.8%), from €76,545 to €139,959
- Gross operating margin -€110,374
down €110,374, from €105,835 to -€4,539
- Financial charges +€32,155
up €32,155 (+320%), from €10,047 to €42,202
- Other operating charges +€18,131
up €18,131 (+39.4%), from €45,997 to €64,128
- Taxes -€9,166
no longer reported in 2025 (was €9,166)
- Financial income -€6,688
down €6,688 (-100.0%), from €6,688 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,976,244 | €1,597,248 | -€378,995 | -19.2% |
| Fixed assets | 21/28 | €187,422 | €172,773 | -€14,649 | -7.8% |
| Tangible fixed assets | 22/27 | €187,422 | €172,773 | -€14,649 | -7.8% |
| Land and buildings | 22 | €181,150 | €167,396 | -€13,755 | -7.6% |
| Plant, machinery and equipment | 23 | €3,166 | €1,709 | -€1,457 | -46.0% |
| Furniture and vehicles | 24 | €1,705 | €2,969 | +€1,263 | +74.1% |
| Other tangible fixed assets | 26 | €1,400 | €700 | -€700 | -50.0% |
| Current assets | 29/58 | €1,788,821 | €1,424,475 | -€364,347 | -20.4% |
| Stocks and contracts in progress | 3 | €1,568,016 | €1,295,626 | -€272,390 | -17.4% |
| Stocks | 30/36 | €1,568,016 | €1,295,626 | -€272,390 | -17.4% |
| Amounts receivable within one year | 40/41 | €142,293 | €17,628 | -€124,665 | -87.6% |
| Trade receivables | 40 | €36,716 | €7,628 | -€29,088 | -79.2% |
| Other amounts receivable | 41 | €105,577 | €10,000 | -€95,577 | -90.5% |
| Cash at bank and in hand | 54/58 | €78,513 | €111,221 | +€32,709 | +41.7% |
| Total equity and liabilities | 10/49 | €1,976,244 | €1,597,248 | -€378,995 | -19.2% |
| Equity | 10/15 | €998,216 | €870,005 | -€128,211 | -12.8% |
| Contributions | 10/11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Reserves | 13 | €979,616 | €849,545 | -€130,071 | -13.3% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €977,756 | €849,545 | -€128,211 | -13.1% |
| Amounts payable | 17/49 | €978,027 | €727,243 | -€250,784 | -25.6% |
| Amounts payable within one year | 42/48 | €971,947 | €727,243 | -€244,704 | -25.2% |
| Financial debts | 43 | €821,163 | €383,464 | -€437,699 | -53.3% |
| Credit institutions | 430/8 | €821,163 | €383,464 | -€437,699 | -53.3% |
| Trade debts | 44 | €69,831 | €54,104 | -€15,727 | -22.5% |
| Suppliers | 440/4 | €69,831 | €54,104 | -€15,727 | -22.5% |
| Taxes, remuneration and social security | 45 | €4,408 | €149,716 | +€145,308 | +3,297% |
| Taxes | 450/3 | €4,408 | €149,716 | +€145,308 | +3,297% |
| Other amounts payable | 47/48 | €76,545 | €139,959 | +€63,414 | +82.8% |
| Accrued charges and deferred income | 492/3 | €6,080 | - | -€6,080 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,486 | €17,342 | +€856 | +5.2% |
| Other operating charges | 640/8 | €45,997 | €64,128 | +€18,131 | +39.4% |
| Gross operating margin | 9900 | €105,835 | -€4,539 | -€110,374 | |
| Operating profit (loss) | 9901 | €43,352 | -€86,009 | -€129,361 | |
| Financial income | 75/76B | €6,688 | €0 | -€6,688 | -100.0% |
| Recurring financial income | 75 | €6,688 | €0 | -€6,688 | -100.0% |
| Financial charges | 65/66B | €10,047 | €42,202 | +€32,155 | +320% |
| Recurring financial charges | 65 | €10,047 | €42,202 | +€32,155 | +320% |
| Profit (loss) for the period before taxes | 9903 | €39,992 | -€128,211 | -€168,203 | |
| Income taxes | 67/77 | €9,166 | - | -€9,166 | |
| Profit (loss) for the period | 9904 | €30,827 | -€128,211 | -€159,038 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,827 | -€128,211 | -€159,038 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.