K.N.P.: 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.N.P.
Largest movements
- Stocks and contracts +€185,414
up €185,414 (+55.7%), from €332,879 to €518,293
- Tangible fixed assets -€184,556
down €184,556 (-19.2%), from €961,175 to €776,619
of which Land and buildings: -€183,118
- Receivables within one year -€98,028
down €98,028 (-78.0%), from €125,683 to €27,655
of which Other amounts receivable: -€70,093
- Cash +€19,073
up €19,073 (+75.3%), from €25,313 to €44,387
mainly Short-term financial debts (+€190,245) and Investment in fixed assets (net) (+€164,052)
- Short-term financial debts +€190,245
up €190,245 (+68.7%), from €276,799 to €467,044
- Debts after one year -€127,683
down €127,683 (-18.7%), from €682,655 to €554,972
- Other debts -€89,121
down €89,121 (-24.0%), from €371,929 to €282,808
- Trade debts -€54,808
down €54,808 (-85.4%), from €64,195 to €9,387
- Gross operating margin -€20,554
down €20,554 (-20.2%), from €101,683 to €81,129
- Depreciation -€5,191
down €5,191 (-15.2%), from €34,195 to €29,004
- Other operating charges -€4,352
down €4,352 (-36.7%), from €11,851 to €7,499
- Financial charges +€2,402
up €2,402 (+6.3%), from €38,234 to €40,636
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 | €1,460,853 | €1,380,056 | -€80,797 | -5.5% |
| Fixed assets | 21/28 | €975,175 | €782,119 | -€193,056 | -19.8% |
| Tangible fixed assets | 22/27 | €961,175 | €776,619 | -€184,556 | -19.2% |
| Land and buildings | 22 | €949,332 | €766,214 | -€183,118 | -19.3% |
| Plant, machinery and equipment | 23 | €11,843 | €10,405 | -€1,438 | -12.1% |
| Financial fixed assets | 28 | €14,000 | €5,500 | -€8,500 | -60.7% |
| Current assets | 29/58 | €485,679 | €597,937 | +€112,258 | +23.1% |
| Stocks and contracts in progress | 3 | €332,879 | €518,293 | +€185,414 | +55.7% |
| Stocks | 30/36 | €332,879 | €518,293 | +€185,414 | +55.7% |
| Amounts receivable within one year | 40/41 | €125,683 | €27,655 | -€98,028 | -78.0% |
| Trade receivables | 40 | €30,088 | €2,153 | -€27,935 | -92.8% |
| Other amounts receivable | 41 | €95,595 | €25,502 | -€70,093 | -73.3% |
| Cash at bank and in hand | 54/58 | €25,313 | €44,387 | +€19,073 | +75.3% |
| Deferred charges and accrued income | 490/1 | €1,803 | €7,602 | +€5,799 | +322% |
| Total equity and liabilities | 10/49 | €1,460,853 | €1,380,056 | -€80,797 | -5.5% |
| Equity | 10/15 | €14,274 | €18,265 | +€3,991 | +28.0% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €3,540 | €3,540 | = | 0.0% |
| Distributable reserves | 133 | €3,540 | €3,540 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,266 | -€6,275 | +€3,991 | +38.9% |
| Amounts payable | 17/49 | €1,446,579 | €1,361,791 | -€84,788 | -5.9% |
| Amounts payable after more than one year | 17 | €682,655 | €554,972 | -€127,683 | -18.7% |
| Financial debts | 170/4 | €682,655 | €554,972 | -€127,683 | -18.7% |
| Amounts payable within one year | 42/48 | €759,956 | €802,514 | +€42,558 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €46,481 | €40,694 | -€5,787 | -12.4% |
| Financial debts | 43 | €276,799 | €467,044 | +€190,245 | +68.7% |
| Credit institutions | 430/8 | €276,799 | €467,044 | +€190,245 | +68.7% |
| Trade debts | 44 | €64,195 | €9,387 | -€54,808 | -85.4% |
| Suppliers | 440/4 | €64,195 | €9,387 | -€54,808 | -85.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €552 | €2,582 | +€2,030 | +367% |
| Taxes | 450/3 | €552 | €2,582 | +€2,030 | +367% |
| Other amounts payable | 47/48 | €371,929 | €282,808 | -€89,121 | -24.0% |
| Accrued charges and deferred income | 492/3 | €3,968 | €4,305 | +€337 | +8.5% |
| Non-recurring operating income | 76A | €14,998 | €14,237 | -€761 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,195 | €29,004 | -€5,191 | -15.2% |
| Other operating charges | 640/8 | €11,851 | €7,499 | -€4,352 | -36.7% |
| Gross operating margin | 9900 | €101,683 | €81,129 | -€20,554 | -20.2% |
| Operating profit (loss) | 9901 | €55,637 | €44,626 | -€11,011 | -19.8% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €38,234 | €40,636 | +€2,402 | +6.3% |
| Recurring financial charges | 65 | €38,234 | €40,636 | +€2,402 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €17,404 | €3,991 | -€13,414 | -77.1% |
| Profit (loss) for the period | 9904 | €17,404 | €3,991 | -€13,414 | -77.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,404 | €3,991 | -€13,414 | -77.1% |
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 26 October 2026 via checked.be.