K&O Projects: what changed
K&O Projects
Largest movements
- Stocks and contracts -€49,740
down €49,740 (-67.1%), from €74,087 to €24,347
of which Contracts in progress: -€27,419
- Receivables within one year +€16,968
up €16,968 (+29.8%), from €56,941 to €73,908
of which Trade receivables: +€44,313
- Tangible fixed assets -€14,912
down €14,912 (-17.5%), from €85,279 to €70,367
- Cash +€12,536
up €12,536 (+10.4%), from €120,440 to €132,976
mainly Net result for the year (+€54,742) and Stocks and contracts (+€49,740)
- Trade debts -€36,672
down €36,672 (-30.0%), from €122,093 to €85,421
- Reserves +€29,136
up €29,136 (+36.4%), from €80,081 to €109,217
of which Distributable reserves: +€30,376
- Debts after one year -€17,171
down €17,171 (-28.6%), from €59,992 to €42,820
- Tax, wage and social debts -€9,883
down €9,883 (-92.4%), from €10,699 to €816
of which Taxes: -€5,275
- Gross operating margin +€56,237
up €56,237 (+25.7%), from €218,430 to €274,667
- Staff costs +€7,145
up €7,145 (+3.9%), from €182,893 to €190,038
- Taxes +€4,831
up €4,831 (+96.3%), from €5,015 to €9,846
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 | €338,475 | €302,868 | -€35,607 | -10.5% |
| Fixed assets | 21/28 | €85,279 | €70,367 | -€14,912 | -17.5% |
| Tangible fixed assets | 22/27 | €85,279 | €70,367 | -€14,912 | -17.5% |
| Plant, machinery and equipment | 23 | €85,279 | €70,367 | -€14,912 | -17.5% |
| Current assets | 29/58 | €253,196 | €232,501 | -€20,695 | -8.2% |
| Stocks and contracts in progress | 3 | €74,087 | €24,347 | -€49,740 | -67.1% |
| Stocks | 30/36 | €46,668 | €24,347 | -€22,322 | -47.8% |
| Contracts in progress | 37 | €27,419 | - | -€27,419 | |
| Amounts receivable within one year | 40/41 | €56,941 | €73,908 | +€16,968 | +29.8% |
| Trade receivables | 40 | €19,880 | €64,193 | +€44,313 | +223% |
| Other amounts receivable | 41 | €37,061 | €9,716 | -€27,345 | -73.8% |
| Cash at bank and in hand | 54/58 | €120,440 | €132,976 | +€12,536 | +10.4% |
| Deferred charges and accrued income | 490/1 | €1,728 | €1,270 | -€458 | -26.5% |
| Total equity and liabilities | 10/49 | €338,475 | €302,868 | -€35,607 | -10.5% |
| Equity | 10/15 | €125,828 | €154,964 | +€29,136 | +23.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €80,081 | €109,217 | +€29,136 | +36.4% |
| Non-distributable reserves | 130/1 | €1,813 | €573 | -€1,240 | -68.4% |
| Legal reserve | 130 | €1,813 | €573 | -€1,240 | -68.4% |
| Distributable reserves | 133 | €78,268 | €108,644 | +€30,376 | +38.8% |
| Profit (loss) carried forward | 14 | €39,547 | €39,547 | = | 0.0% |
| Amounts payable | 17/49 | €212,647 | €147,904 | -€64,743 | -30.4% |
| Amounts payable after more than one year | 17 | €59,992 | €42,820 | -€17,171 | -28.6% |
| Financial debts | 170/4 | €59,992 | €42,820 | -€17,171 | -28.6% |
| Amounts payable within one year | 42/48 | €152,655 | €105,084 | -€47,572 | -31.2% |
| Current portion of amounts payable after more than one year | 42 | €16,859 | €17,171 | +€312 | +1.9% |
| Trade debts | 44 | €122,093 | €85,421 | -€36,672 | -30.0% |
| Suppliers | 440/4 | €122,093 | €85,421 | -€36,672 | -30.0% |
| Taxes, remuneration and social security | 45 | €10,699 | €816 | -€9,883 | -92.4% |
| Taxes | 450/3 | €5,845 | €570 | -€5,275 | -90.2% |
| Remuneration and social security | 454/9 | €4,853 | €246 | -€4,608 | -94.9% |
| Other amounts payable | 47/48 | €3,004 | €1,675 | -€1,329 | -44.2% |
| Remuneration, social security and pensions | 62 | €182,893 | €190,038 | +€7,145 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,209 | €16,267 | +€58 | +0.4% |
| Other operating charges | 640/8 | €4,735 | €2,897 | -€1,838 | -38.8% |
| Gross operating margin | 9900 | €218,430 | €274,667 | +€56,237 | +25.7% |
| Operating profit (loss) | 9901 | €14,593 | €65,464 | +€50,872 | +349% |
| Financial income | 75/76B | €1,445 | €608 | -€837 | -57.9% |
| Recurring financial income | 75 | €1,445 | €608 | -€837 | -57.9% |
| Financial charges | 65/66B | €1,843 | €1,484 | -€358 | -19.4% |
| Recurring financial charges | 65 | €1,843 | €1,484 | -€358 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €14,195 | €64,588 | +€50,393 | +355% |
| Income taxes | 67/77 | €5,015 | €9,846 | +€4,831 | +96.3% |
| Profit (loss) for the period | 9904 | €9,179 | €54,742 | +€45,563 | +496% |
| Profit (loss) for the period to be appropriated | 9905 | €9,179 | €54,742 | +€45,563 | +496% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.