K LUANG: 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 LUANG
Largest movements
- Receivables within one year -€5,847
down €5,847 (-30.3%), from €19,314 to €13,467
of which Trade receivables: -€5,594
- Tangible fixed assets -€4,171
down €4,171 (-10.4%), from €40,118 to €35,948
of which Plant, machinery and equipment: -€7,427
- Intangible fixed assets -€3,500
down €3,500 (-12.1%), from €28,858 to €25,358
- Profit (loss) carried forward -€17,664
down €17,664 (-172%), from -€10,258 to -€27,922
- Trade debts +€5,769
up €5,769 (+36.7%), from €15,728 to €21,497
- Gross operating margin -€44,005
down €44,005 (-42.1%), from €104,487 to €60,482
- Staff costs -€2,067
down €2,067 (-3.7%), from €55,182 to €53,115
- Other operating charges +€1,902
up €1,902 (+369%), from €515 to €2,417
- Financial charges +€1,052
up €1,052 (+14.2%), from €7,432 to €8,484
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 | €157,355 | €144,670 | -€12,685 | -8.1% |
| Fixed assets | 21/28 | €108,259 | €100,588 | -€7,671 | -7.1% |
| Intangible fixed assets | 21 | €28,858 | €25,358 | -€3,500 | -12.1% |
| Tangible fixed assets | 22/27 | €40,118 | €35,948 | -€4,171 | -10.4% |
| Plant, machinery and equipment | 23 | €29,218 | €21,791 | -€7,427 | -25.4% |
| Furniture and vehicles | 24 | €2,877 | €1,899 | -€978 | -34.0% |
| Other tangible fixed assets | 26 | €8,023 | €12,258 | +€4,235 | +52.8% |
| Financial fixed assets | 28 | €39,283 | €39,283 | = | 0.0% |
| Current assets | 29/58 | €49,096 | €44,082 | -€5,014 | -10.2% |
| Stocks and contracts in progress | 3 | €15,308 | €15,308 | = | 0.0% |
| Stocks | 30/36 | €15,308 | €15,308 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €19,314 | €13,467 | -€5,847 | -30.3% |
| Trade receivables | 40 | €5,676 | €82 | -€5,594 | -98.6% |
| Other amounts receivable | 41 | €13,638 | €13,385 | -€253 | -1.9% |
| Cash at bank and in hand | 54/58 | €14,239 | €15,307 | +€1,068 | +7.5% |
| Deferred charges and accrued income | 490/1 | €235 | - | -€235 | |
| Total equity and liabilities | 10/49 | €157,355 | €144,670 | -€12,685 | -8.1% |
| Equity | 10/15 | -€9,758 | -€27,422 | -€17,664 | -181% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,258 | -€27,922 | -€17,664 | -172% |
| Amounts payable | 17/49 | €167,113 | €172,092 | +€4,979 | +3.0% |
| Amounts payable within one year | 42/48 | €167,113 | €172,092 | +€4,979 | +3.0% |
| Trade debts | 44 | €15,728 | €21,497 | +€5,769 | +36.7% |
| Suppliers | 440/4 | €15,728 | €21,497 | +€5,769 | +36.7% |
| Advances received on contracts in progress | 46 | - | €253 | +€253 | |
| Taxes, remuneration and social security | 45 | €7,084 | €7,542 | +€457 | +6.5% |
| Taxes | 450/3 | €1,076 | €473 | -€603 | -56.0% |
| Remuneration and social security | 454/9 | €6,008 | €7,068 | +€1,060 | +17.6% |
| Other amounts payable | 47/48 | €144,300 | €142,800 | -€1,500 | -1.0% |
| Remuneration, social security and pensions | 62 | €55,182 | €53,115 | -€2,067 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,356 | €14,669 | +€313 | +2.2% |
| Other operating charges | 640/8 | €515 | €2,417 | +€1,902 | +369% |
| Gross operating margin | 9900 | €104,487 | €60,482 | -€44,005 | -42.1% |
| Operating profit (loss) | 9901 | €34,433 | -€9,719 | -€44,152 | |
| Financial income | 75/76B | €286 | €539 | +€253 | +88.5% |
| Recurring financial income | 75 | €286 | €539 | +€253 | +88.5% |
| Financial charges | 65/66B | €7,432 | €8,484 | +€1,052 | +14.2% |
| Recurring financial charges | 65 | €7,432 | €8,484 | +€1,052 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €27,287 | -€17,664 | -€44,951 | |
| Income taxes | 67/77 | €883 | - | -€883 | |
| Profit (loss) for the period | 9904 | €26,404 | -€17,664 | -€44,068 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,404 | -€17,664 | -€44,068 |
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 19 October 2026 via checked.be.