K & S: 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 & S
Largest movements
- Cash +€42,159
up €42,159 (+34.5%), from €122,240 to €164,399
mainly Net result for the year (+€41,052) and Debts after one year (+€16,395)
- Tangible fixed assets +€22,653
up €22,653 (+217.3%), from €10,427 to €33,080
of which Plant, machinery and equipment: +€16,265
- Reserves +€41,052
up €41,052 (+54.1%), from €75,920 to €116,973
of which Distributable reserves: +€41,052
- Debts after one year +€16,395
new in 2025: €16,395
- Current portion of long-term debt +€6,006
new in 2025: €6,006
- Short-term financial debts +€3,371
new in 2025: €3,371
- Trade debts -€3,212
down €3,212 (-91.8%), from €3,500 to €288
- Gross operating margin -€11,539
down €11,539 (-14.1%), from €81,636 to €70,097
- Depreciation +€1,970
up €1,970 (+48.5%), from €4,065 to €6,035
- Taxes -€1,632
down €1,632 (-10.2%), from €16,012 to €14,381
- Staff costs +€1,168
up €1,168 (+29.5%), from €3,968 to €5,136
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.
Cash bridge derived
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 | €134,244 | €199,264 | +€65,021 | +48.4% |
| Fixed assets | 21/28 | €10,651 | €33,165 | +€22,514 | +211.4% |
| Tangible fixed assets | 22/27 | €10,427 | €33,080 | +€22,653 | +217.3% |
| Land and buildings | 22 | €4,567 | €4,307 | -€261 | -5.7% |
| Plant, machinery and equipment | 23 | €5,859 | €22,125 | +€16,265 | +277.6% |
| Furniture and vehicles | 24 | - | €6,648 | +€6,648 | |
| Financial fixed assets | 28 | €225 | €85 | -€139 | -62.1% |
| Current assets | 29/58 | €123,592 | €166,100 | +€42,507 | +34.4% |
| Stocks and contracts in progress | 3 | €485 | €325 | -€160 | -33.0% |
| Stocks | 30/36 | €485 | €325 | -€160 | -33.0% |
| Amounts receivable within one year | 40/41 | €132 | €825 | +€693 | +524.1% |
| Trade receivables | 40 | €80 | €85 | +€5 | +6.3% |
| Other amounts receivable | 41 | €52 | €740 | +€688 | +1317.0% |
| Cash at bank and in hand | 54/58 | €122,240 | €164,399 | +€42,159 | +34.5% |
| Deferred charges and accrued income | 490/1 | €734 | €550 | -€184 | -25.1% |
| Total equity and liabilities | 10/49 | €134,244 | €199,264 | +€65,021 | +48.4% |
| Equity | 10/15 | €94,520 | €135,573 | +€41,052 | +43.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,920 | €116,973 | +€41,052 | +54.1% |
| Non-distributable reserves | 130/1 | €629 | €629 | = | 0.0% |
| Reserves not available under the articles | 1311 | €629 | €629 | = | 0.0% |
| Distributable reserves | 133 | €75,291 | €116,343 | +€41,052 | +54.5% |
| Amounts payable | 17/49 | €39,723 | €63,692 | +€23,968 | +60.3% |
| Amounts payable after more than one year | 17 | - | €16,395 | +€16,395 | |
| Financial debts | 170/4 | - | €16,395 | +€16,395 | |
| Amounts payable within one year | 42/48 | €39,723 | €47,297 | +€7,573 | +19.1% |
| Current portion of amounts payable after more than one year | 42 | - | €6,006 | +€6,006 | |
| Financial debts | 43 | - | €3,371 | +€3,371 | |
| Credit institutions | 430/8 | - | €3,371 | +€3,371 | |
| Trade debts | 44 | €3,500 | €288 | -€3,212 | -91.8% |
| Suppliers | 440/4 | €3,500 | €288 | -€3,212 | -91.8% |
| Taxes, remuneration and social security | 45 | €26,164 | €25,935 | -€230 | -0.9% |
| Taxes | 450/3 | €25,921 | €25,622 | -€299 | -1.2% |
| Remuneration and social security | 454/9 | €243 | €313 | +€70 | +28.6% |
| Other amounts payable | 47/48 | €10,059 | €11,697 | +€1,638 | +16.3% |
| Non-recurring operating income | 76A | €197 | - | -€197 | |
| Remuneration, social security and pensions | 62 | €3,968 | €5,136 | +€1,168 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,065 | €6,035 | +€1,970 | +48.5% |
| Other operating charges | 640/8 | €707 | €769 | +€63 | +8.9% |
| Gross operating margin | 9900 | €81,636 | €70,097 | -€11,539 | -14.1% |
| Operating profit (loss) | 9901 | €72,897 | €58,157 | -€14,740 | -20.2% |
| Financial income | 75/76B | €725 | €741 | +€16 | +2.2% |
| Recurring financial income | 75 | €725 | €741 | +€16 | +2.2% |
| Financial charges | 65/66B | €3,005 | €3,465 | +€460 | +15.3% |
| Recurring financial charges | 65 | €3,005 | €3,465 | +€460 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | €70,618 | €55,433 | -€15,184 | -21.5% |
| Income taxes | 67/77 | €16,012 | €14,381 | -€1,632 | -10.2% |
| Profit (loss) for the period | 9904 | €54,605 | €41,052 | -€13,553 | -24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €54,605 | €41,052 | -€13,553 | -24.8% |
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 9 October 2026 via checked.be.