K & R Holding: what changed
What changed
K & R Holding
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€5.6m
2024 · €1.4m+€4.2m
Equity
€18.6m
2024 · €29.2m-€10.6m
Cash
€272,573
2024 · €6.3m-€6.1m
Balance sheet total
€21.0m
2024 · €61.8m-€40.8m
Largest movements
Assets
- Receivables within one year -€19.4m
down €19.4m (-90.9%), from €21.4m to €1.9m
of which Trade receivables: -€17.9m
- Fixed assets -€9.9m
down €9.9m (-34.4%), from €28.6m to €18.8m
of which Tangible fixed assets: -€18.3m
- Cash -€6.1m
down €6.1m (-95.7%), from €6.3m to €272,573
mainly Total equity and liabilities (-€40.8m) and Contributions, distributions and other (-€5.6m)
- Stocks and contracts -€5.2m
down €5.2m (-100%), from €5.2m to €0
of which Contracts in progress: -€3.1m
Equity and liabilities
- Total equity and liabilities -€40.8m
down €40.8m (-66.0%), from €61.8m to €21.0m
of which Debts: -€29.5m
Income statement
- Turnover -€81.7m
no longer reported in 2025 (was €81.7m)
- Goods and materials -€59.9m
no longer reported in 2025 (was €59.9m)
- Services and other goods -€10.8m
down €10.8m (-97.0%), from €11.1m to €331,060
- Staff costs -€7.7m
down €7.7m (-95.0%), from €8.1m to €407,856
- Financial income +€7.2m
new in 2025: €7.2m
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.
Result 2024
€1.4m
Turnover
-€81.7m
Other operating income
-€3.8m
Goods and materials
+€59.9m
Services and other goods
+€10.8m
Staff costs
+€7.7m
Depreciation
+€3.5m
Write-downs
+€908,397
Other operating charges
+€897,061
Other operating items
-€1.7m
Financial income
+€7.2m
Financial charges
+€424,935
Other financial items
-€800,000
Taxes
+€1.0m
Deferred taxes and other
-€52,000
Result 2025
€5.6m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€10.3m
Investment
+€9.8m
Financing
-€5.6m
Cash 2024
€6.3m
From operations (derived)
-€10.3m
Net result for the year
+€5.6m
Depreciation
+€8,545
Receivables after one year
+€6,000
Stocks and contracts
+€5.2m
Receivables within one year
+€19.4m
Deferred charges and accrued income
+€198,877
Total equity and liabilities
-€40.8m
Investment (derived)
+€9.8m
Investment in fixed assets (net)
+€9.8m
Financing
-€5.6m
Contributions, distributions and other
-€5.6m
Cash 2025
€272,573
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €61,828,000 | €21,001,243 | -€40.8m | -66.0% |
| Fixed assets | 21/28 | €28,634,000 | €18,776,755 | -€9.9m | -34.4% |
| Intangible fixed assets | 21 | €362,000 | - | -€362,000 | |
| Tangible fixed assets | 22/27 | €18,292,000 | €13,507 | -€18.3m | -99.9% |
| Land and buildings | 22 | €11,361,000 | - | -€11.4m | |
| Plant, machinery and equipment | 23 | €629,000 | - | -€629,000 | |
| Furniture and vehicles | 24 | €2,088,000 | €13,507 | -€2.1m | -99.4% |
| Leasing and similar rights | 25 | €3,889,000 | €0 | -€3.9m | -100% |
| Other tangible fixed assets | 26 | €325,000 | - | -€325,000 | |
| Financial fixed assets | 28 | €9,075,000 | €18,763,248 | +€9.7m | +107% |
| Affiliated companies | 280/1 | - | €18,763,248 | +€18.8m | |
| Participating interests | 280 | - | €18,763,248 | +€18.8m | |
| Other financial fixed assets | 284/8 | €2,850,000 | - | -€2.9m | |
| Shares | 284 | €168,000 | - | -€168,000 | |
| Amounts receivable and cash guarantees | 285/8 | €2,682,000 | - | -€2.7m | |
| Current assets | 29/58 | €33,194,000 | €2,224,488 | -€31.0m | -93.3% |
| Amounts receivable after more than one year | 29 | €6,000 | - | -€6,000 | |
| Trade receivables | 290 | €6,000 | - | -€6,000 | |
| Stocks and contracts in progress | 3 | €5,242,000 | €0 | -€5.2m | -100% |
| Stocks | 30/36 | €2,190,000 | - | -€2.2m | |
| Raw materials and consumables | 30/31 | €1,198,000 | - | -€1.2m | |
| Goods purchased for resale | 34 | €936,000 | - | -€936,000 | |
| Property held for sale | 35 | €56,000 | - | -€56,000 | |
| Contracts in progress | 37 | €3,052,000 | - | -€3.1m | |
| Amounts receivable within one year | 40/41 | €21,389,000 | €1,939,793 | -€19.4m | -90.9% |
| Trade receivables | 40 | €17,975,000 | €122,023 | -€17.9m | -99.3% |
| Other amounts receivable | 41 | €3,414,000 | €1,817,770 | -€1.6m | -46.8% |
| Cash at bank and in hand | 54/58 | €6,346,000 | €272,573 | -€6.1m | -95.7% |
| Deferred charges and accrued income | 490/1 | €211,000 | €12,123 | -€198,877 | -94.3% |
| Total equity and liabilities | 10/49 | €61,828,000 | €21,001,243 | -€40.8m | -66.0% |
| Equity | 10/15 | €29,159,000 | €18,597,333 | -€10.6m | -36.2% |
| Contributions | 10/11 | €12,008,000 | €8,169,509 | -€3.8m | -32.0% |
| Reserves | 13 | - | €10,427,824 | +€10.4m | |
| Distributable reserves | 133 | - | €10,427,824 | +€10.4m | |
| Provisions and deferred taxes | 16 | €183,000 | - | -€183,000 | |
| Deferred taxes | 168 | €183,000 | - | -€183,000 | |
| Amounts payable | 17/49 | €31,876,000 | €2,403,910 | -€29.5m | -92.5% |
| Amounts payable after more than one year | 17 | €10,747,000 | €0 | -€10.7m | -100% |
| Financial debts | 170/4 | €10,747,000 | €0 | -€10.7m | -100% |
| Leasing and similar obligations | 172 | €2,301,000 | - | -€2.3m | |
| Credit institutions | 173 | €8,392,000 | - | -€8.4m | |
| Other loans | 174 | €54,000 | €0 | -€54,000 | -100% |
| Amounts payable within one year | 42/48 | €21,075,000 | €2,403,910 | -€18.7m | -88.6% |
| Current portion of amounts payable after more than one year | 42 | €3,460,000 | €54,077 | -€3.4m | -98.4% |
| Financial debts | 43 | €7,934,000 | €14,323 | -€7.9m | -99.8% |
| Credit institutions | 430/8 | €7,934,000 | €14,323 | -€7.9m | -99.8% |
| Trade debts | 44 | €7,771,000 | €47,342 | -€7.7m | -99.4% |
| Suppliers | 440/4 | €7,771,000 | €47,342 | -€7.7m | -99.4% |
| Advances received on contracts in progress | 46 | €7,000 | - | -€7,000 | |
| Taxes, remuneration and social security | 45 | €1,228,000 | €137,368 | -€1.1m | -88.8% |
| Taxes | 450/3 | €380,000 | €84,919 | -€295,081 | -77.7% |
| Remuneration and social security | 454/9 | €848,000 | €52,449 | -€795,551 | -93.8% |
| Other amounts payable | 47/48 | €675,000 | €2,150,801 | +€1.5m | +219% |
| Accrued charges and deferred income | 492/3 | €54,000 | €0 | -€54,000 | -100% |
| Operating income | 70/76A | €88,101,000 | €482,235 | -€87.6m | -99.5% |
| Turnover | 70 | €81,734,000 | - | -€81.7m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,173,000 | - | -€1.2m | |
| Other operating income | 74 | €4,307,000 | €482,235 | -€3.8m | -88.8% |
| Non-recurring operating income | 76A | €887,000 | - | -€887,000 | |
| Operating charges | 60/66A | €84,892,000 | €862,003 | -€84.0m | -99.0% |
| Goods for resale, raw materials and consumables | 60 | €59,869,000 | - | -€59.9m | |
| Change in stocks: decrease (increase) | 609 | €752,000 | - | -€752,000 | |
| Services and other goods | 61 | €11,133,000 | €331,060 | -€10.8m | -97.0% |
| Remuneration, social security and pensions | 62 | €8,129,000 | €407,856 | -€7.7m | -95.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,520,000 | €8,545 | -€3.5m | -99.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,020,000 | €111,603 | -€908,397 | -89.1% |
| Other operating charges | 640/8 | €900,000 | €2,939 | -€897,061 | -99.7% |
| Non-recurring operating charges | 66A | €321,000 | €0 | -€321,000 | -100% |
| Operating profit (loss) | 9901 | €3,209,000 | -€379,768 | -€3.6m | |
| Financial income | 75/76B | - | €7,185,727 | +€7.2m | |
| Recurring financial income | 75 | €800,000 | €7,185,727 | +€6.4m | +798% |
| Income from financial fixed assets | 750 | - | €7,106,117 | +€7.1m | |
| Income from current assets | 751 | €35,000 | €79,610 | +€44,610 | +127% |
| Other financial income | 752/9 | €765,000 | €0 | -€765,000 | -100% |
| Financial charges | 65/66B | €1,631,000 | €1,206,065 | -€424,935 | -26.1% |
| Recurring financial charges | 65 | €1,616,000 | €722,355 | -€893,645 | -55.3% |
| Debt charges | 650 | €1,000,000 | €15,407 | -€984,593 | -98.5% |
| Other financial charges | 652/9 | €387,000 | €706,948 | +€319,948 | +82.7% |
| Non-recurring financial charges | 66B | €15,000 | €483,710 | +€468,710 | +3,125% |
| Profit (loss) for the period before taxes | 9903 | €2,378,000 | €5,599,894 | +€3.2m | +135% |
| Transfer from deferred taxes | 780 | €52,000 | - | -€52,000 | |
| Income taxes | 67/77 | €1,032,000 | €225 | -€1.0m | -100.0% |
| Taxes | 670/3 | €1,038,000 | €225 | -€1.0m | -100.0% |
| Tax adjustments and reversals of tax provisions | 77 | €6,000 | - | -€6,000 | |
| Profit (loss) for the period | 9904 | €1,398,000 | €5,599,669 | +€4.2m | +301% |
| Profit (loss) for the period to be appropriated | 9905 | - | €5,599,669 | +€5.6m |
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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 4 November 2026 via checked.be.