K&S: what changed
What changed
K&S
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€39,907
2024 · €174,402-€134,495
Equity
€2.7m
2024 · €2.6m+€39,907
Cash
€116,495
2024 · €71,343+€45,152
Balance sheet total
€2.7m
2024 · €2.6m+€41,158
Largest movements
Assets
- Cash +€45,152
up €45,152 (+63.3%), from €71,343 to €116,495
mainly Net result for the year (+€39,907) and Trade debts (+€15,336)
Equity and liabilities
- Reserves +€39,907
up €39,907 (+2.1%), from €1.9m to €1.9m
Income statement
- Financial income -€135,449
down €135,449 (-77.0%), from €175,927 to €40,479
- Taxes -€17,498
down €17,498 (-73.8%), from €23,710 to €6,212
- Gross operating margin -€16,001
down €16,001 (-43.5%), from €36,759 to €20,757
- Depreciation +€579
up €579 (+4.6%), from €12,717 to €13,296
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
€174,402
Gross operating margin
-€16,001
Depreciation
-€579
Other operating charges
+€18
Financial income
-€135,449
Financial charges
+€18
Taxes
+€17,498
Result 2025
€39,907
raises the resultlowers the result
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
+€50,335
Investment
-€4,922
Financing
-€261
Cash 2024
€71,343
From operations (derived)
+€50,335
Net result for the year
+€39,907
Depreciation
+€13,296
Receivables within one year
-€4,066
Deferred charges and accrued income
-€314
Trade debts
+€15,336
Tax, wage and social debts
-€13,941
Other debts
+€317
Accrued charges and deferred income
-€200
Investment (derived)
-€4,922
Investment in fixed assets (net)
-€4,922
Financing
-€261
Short-term financial debts
-€261
Cash 2025
€116,495
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,639,895 | €2,681,053 | +€41,158 | +1.6% |
| Fixed assets | 21/28 | €2,300,191 | €2,291,817 | -€8,374 | -0.4% |
| Tangible fixed assets | 22/27 | €50,191 | €41,817 | -€8,374 | -16.7% |
| Plant, machinery and equipment | 23 | €8,348 | €6,373 | -€1,976 | -23.7% |
| Furniture and vehicles | 24 | €39,747 | €33,872 | -€5,874 | -14.8% |
| Other tangible fixed assets | 26 | €2,096 | €1,572 | -€524 | -25.0% |
| Financial fixed assets | 28 | €2,250,000 | €2,250,000 | = | 0.0% |
| Current assets | 29/58 | €339,704 | €389,236 | +€49,532 | +14.6% |
| Amounts receivable within one year | 40/41 | €15,000 | €19,066 | +€4,066 | +27.1% |
| Trade receivables | 40 | €12,100 | €12,860 | +€760 | +6.3% |
| Other amounts receivable | 41 | €2,900 | €6,207 | +€3,306 | +114% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €71,343 | €116,495 | +€45,152 | +63.3% |
| Deferred charges and accrued income | 490/1 | €3,361 | €3,675 | +€314 | +9.4% |
| Total equity and liabilities | 10/49 | €2,639,895 | €2,681,053 | +€41,158 | +1.6% |
| Equity | 10/15 | €2,619,390 | €2,659,297 | +€39,907 | +1.5% |
| Contributions | 10/11 | €747,000 | €747,000 | = | 0.0% |
| Reserves | 13 | €1,872,390 | €1,912,297 | +€39,907 | +2.1% |
| Distributable reserves | 133 | €1,872,390 | €1,912,297 | +€39,907 | +2.1% |
| Amounts payable | 17/49 | €20,505 | €21,756 | +€1,251 | +6.1% |
| Amounts payable within one year | 42/48 | €20,305 | €21,756 | +€1,451 | +7.1% |
| Financial debts | 43 | €261 | €0 | -€261 | -100% |
| Credit institutions | 430/8 | €261 | €0 | -€261 | -100% |
| Trade debts | 44 | €1,192 | €16,528 | +€15,336 | +1,287% |
| Suppliers | 440/4 | €1,192 | €16,528 | +€15,336 | +1,287% |
| Taxes, remuneration and social security | 45 | €18,851 | €4,911 | -€13,941 | -74.0% |
| Taxes | 450/3 | €18,851 | €4,911 | -€13,941 | -74.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1 | €318 | +€317 | +26,170% |
| Accrued charges and deferred income | 492/3 | €200 | €0 | -€200 | -100% |
| Non-recurring operating income | 76A | - | €413 | +€413 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,717 | €13,296 | +€579 | +4.6% |
| Other operating charges | 640/8 | €1,777 | €1,759 | -€18 | -1.0% |
| Gross operating margin | 9900 | €36,759 | €20,757 | -€16,001 | -43.5% |
| Operating profit (loss) | 9901 | €22,265 | €5,702 | -€16,563 | -74.4% |
| Financial income | 75/76B | €175,927 | €40,479 | -€135,449 | -77.0% |
| Recurring financial income | 75 | €175,927 | €40,479 | -€135,449 | -77.0% |
| Financial charges | 65/66B | €80 | €62 | -€18 | -22.3% |
| Recurring financial charges | 65 | €80 | €62 | -€18 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €198,112 | €46,119 | -€151,994 | -76.7% |
| Income taxes | 67/77 | €23,710 | €6,212 | -€17,498 | -73.8% |
| Profit (loss) for the period | 9904 | €174,402 | €39,907 | -€134,495 | -77.1% |
| Profit (loss) for the period to be appropriated | 9905 | €174,402 | €39,907 | -€134,495 | -77.1% |
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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 1 November 2026 via checked.be.