K²N: 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.
K²N
Largest movements
- Receivables within one year +€15,929
up €15,929 (+138.2%), from €11,527 to €27,456
of which Trade receivables: +€13,978
- Cash +€8,859
up €8,859 (+360.2%), from €2,459 to €11,318
mainly Other debts (+€162,371) and Depreciation (+€14,622)
- Other debts +€162,371
up €162,371 (+96.3%), from €168,597 to €330,969
- Profit (loss) carried forward -€109,358
down €109,358 (-146.0%), from -€74,903 to -€184,261
- Debts after one year -€21,167
down €21,167 (-5.6%), from €374,769 to €353,602
- Gross operating margin -€26,376
down €26,376 (-59.4%), from -€44,423 to -€70,799
- Other operating charges +€9,549
up €9,549 (+232.7%), from €4,105 to €13,654
- Financial charges +€3,663
up €3,663 (+58.5%), from €6,258 to €9,921
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 | €533,003 | €558,958 | +€25,954 | +4.9% |
| Fixed assets | 21/28 | €518,818 | €516,071 | -€2,747 | -0.5% |
| Tangible fixed assets | 22/27 | €518,818 | €516,071 | -€2,747 | -0.5% |
| Land and buildings | 22 | €326,905 | €315,834 | -€11,072 | -3.4% |
| Plant, machinery and equipment | 23 | €3,311 | €2,800 | -€512 | -15.5% |
| Furniture and vehicles | 24 | €720 | €0 | -€720 | -100.0% |
| Other tangible fixed assets | 26 | €20,007 | €17,688 | -€2,319 | -11.6% |
| Assets under construction and advance payments | 27 | €167,874 | €179,749 | +€11,875 | +7.1% |
| Current assets | 29/58 | €14,186 | €42,887 | +€28,702 | +202.3% |
| Amounts receivable within one year | 40/41 | €11,527 | €27,456 | +€15,929 | +138.2% |
| Trade receivables | 40 | €0 | €13,978 | +€13,978 | |
| Other amounts receivable | 41 | €11,527 | €13,478 | +€1,951 | +16.9% |
| Cash at bank and in hand | 54/58 | €2,459 | €11,318 | +€8,859 | +360.2% |
| Deferred charges and accrued income | 490/1 | €200 | €4,114 | +€3,914 | +1958.6% |
| Total equity and liabilities | 10/49 | €533,003 | €558,958 | +€25,954 | +4.9% |
| Equity | 10/15 | -€47,403 | -€156,761 | -€109,358 | -230.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €26,500 | €26,500 | = | 0.0% |
| Distributable reserves | 133 | €26,500 | €26,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,903 | -€184,261 | -€109,358 | -146.0% |
| Amounts payable | 17/49 | €580,406 | €715,719 | +€135,313 | +23.3% |
| Amounts payable after more than one year | 17 | €374,769 | €353,602 | -€21,167 | -5.6% |
| Financial debts | 170/4 | €374,769 | €353,602 | -€21,167 | -5.6% |
| Amounts payable within one year | 42/48 | €205,638 | €362,117 | +€156,479 | +76.1% |
| Current portion of amounts payable after more than one year | 42 | €21,981 | €22,446 | +€465 | +2.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €8,695 | €7,061 | -€1,633 | -18.8% |
| Suppliers | 440/4 | €8,695 | €7,061 | -€1,633 | -18.8% |
| Taxes, remuneration and social security | 45 | €6,365 | €1,642 | -€4,723 | -74.2% |
| Taxes | 450/3 | €284 | €362 | +€79 | +27.7% |
| Remuneration and social security | 454/9 | €6,081 | €1,279 | -€4,802 | -79.0% |
| Other amounts payable | 47/48 | €168,597 | €330,969 | +€162,371 | +96.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,920 | €14,622 | -€298 | -2.0% |
| Other operating charges | 640/8 | €4,105 | €13,654 | +€9,549 | +232.7% |
| Gross operating margin | 9900 | -€44,423 | -€70,799 | -€26,376 | -59.4% |
| Operating profit (loss) | 9901 | -€63,448 | -€99,075 | -€35,627 | -56.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €6,258 | €9,921 | +€3,663 | +58.5% |
| Recurring financial charges | 65 | €6,258 | €9,921 | +€3,663 | +58.5% |
| Profit (loss) for the period before taxes | 9903 | -€69,705 | -€108,996 | -€39,291 | -56.4% |
| Income taxes | 67/77 | €257 | €362 | +€105 | +40.9% |
| Profit (loss) for the period | 9904 | -€69,963 | -€109,358 | -€39,396 | -56.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€69,963 | -€109,358 | -€39,396 | -56.3% |
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.