K&R: 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&R
Largest movements
- Tangible fixed assets +€20,429
up €20,429 (+2,370%), from €862 to €21,290
of which Furniture and vehicles: +€21,066
- Cash +€9,823
up €9,823 (+29.4%), from €33,450 to €43,273
mainly Net result for the year (+€12,395) and Debts after one year (+€6,430)
- Reserves +€10,395
up €10,395 (+114%), from €9,090 to €19,485
- Debts after one year +€6,430
new in 2025: €6,430
- Tax, wage and social debts +€5,106
up €5,106 (+1,787%), from €286 to €5,392
- Current portion of long-term debt +€4,957
new in 2025: €4,957
- Other debts +€3,947
up €3,947 (+20.3%), from €19,408 to €23,355
- Gross operating margin +€13,922
up €13,922 (+133%), from €10,444 to €24,366
- Depreciation +€3,919
up €3,919 (+589%), from €665 to €4,585
- Taxes +€2,675
up €2,675 (+119%), from €2,251 to €4,927
- Other operating charges +€561
up €561 (+51.8%), from €1,083 to €1,643
- Financial charges +€488
up €488 (+131%), from €373 to €862
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 | €48,971 | €79,677 | +€30,706 | +62.7% |
| Fixed assets | 21/28 | €862 | €21,290 | +€20,429 | +2,370% |
| Tangible fixed assets | 22/27 | €862 | €21,290 | +€20,429 | +2,370% |
| Plant, machinery and equipment | 23 | €862 | €225 | -€637 | -73.9% |
| Furniture and vehicles | 24 | - | €21,066 | +€21,066 | |
| Current assets | 29/58 | €48,109 | €58,386 | +€10,277 | +21.4% |
| Amounts receivable within one year | 40/41 | €14,659 | €15,113 | +€454 | +3.1% |
| Trade receivables | 40 | €12,013 | €14,153 | +€2,139 | +17.8% |
| Other amounts receivable | 41 | €2,646 | €960 | -€1,685 | -63.7% |
| Cash at bank and in hand | 54/58 | €33,450 | €43,273 | +€9,823 | +29.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €48,971 | €79,677 | +€30,706 | +62.7% |
| Equity | 10/15 | €27,690 | €38,085 | +€10,395 | +37.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,090 | €19,485 | +€10,395 | +114% |
| Distributable reserves | 133 | €9,090 | €19,485 | +€10,395 | +114% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €21,281 | €41,592 | +€20,311 | +95.4% |
| Amounts payable after more than one year | 17 | - | €6,430 | +€6,430 | |
| Financial debts | 170/4 | - | €6,430 | +€6,430 | |
| Amounts payable within one year | 42/48 | €21,281 | €35,162 | +€13,881 | +65.2% |
| Current portion of amounts payable after more than one year | 42 | - | €4,957 | +€4,957 | |
| Trade debts | 44 | €1,587 | €1,458 | -€129 | -8.1% |
| Suppliers | 440/4 | €1,587 | €1,458 | -€129 | -8.1% |
| Taxes, remuneration and social security | 45 | €286 | €5,392 | +€5,106 | +1,787% |
| Taxes | 450/3 | €286 | €5,392 | +€5,106 | +1,787% |
| Other amounts payable | 47/48 | €19,408 | €23,355 | +€3,947 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €665 | €4,585 | +€3,919 | +589% |
| Other operating charges | 640/8 | €1,083 | €1,643 | +€561 | +51.8% |
| Non-recurring operating charges | 66A | €91 | €0 | -€91 | -100% |
| Gross operating margin | 9900 | €10,444 | €24,366 | +€13,922 | +133% |
| Operating profit (loss) | 9901 | €8,605 | €18,138 | +€9,533 | +111% |
| Financial income | 75/76B | - | €45 | +€45 | |
| Recurring financial income | 75 | - | €45 | +€45 | |
| Financial charges | 65/66B | €373 | €862 | +€488 | +131% |
| Recurring financial charges | 65 | €373 | €862 | +€488 | +131% |
| Profit (loss) for the period before taxes | 9903 | €8,232 | €17,321 | +€9,090 | +110% |
| Income taxes | 67/77 | €2,251 | €4,927 | +€2,675 | +119% |
| Profit (loss) for the period | 9904 | €5,980 | €12,395 | +€6,414 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €5,980 | €12,395 | +€6,414 | +107% |
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 14 October 2026 via checked.be.