K-VOLUTION: 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-VOLUTION
Largest movements
- Tangible fixed assets -€396,534
down €396,534 (-99.3%), from €399,437 to €2,903
of which Land and buildings: -€394,360
- Current investments +€122,131
up €122,131, from €0 to €122,131
- Receivables within one year -€16,177
down €16,177 (-12.8%), from €126,660 to €110,483
of which Trade receivables: -€21,797
- Debts after one year -€332,235
no longer reported in 2025 (was €332,235)
- Profit (loss) carried forward +€113,151
up €113,151, from -€27,413 to €85,739
- Other debts -€66,037
down €66,037 (-54.4%), from €121,366 to €55,329
- Tax, wage and social debts +€33,417
up €33,417 (+155%), from €21,581 to €54,998
- Current portion of long-term debt -€19,861
no longer reported in 2025 (was €19,861)
- Gross operating margin +€167,374
up €167,374 (+290%), from €57,667 to €225,041
- Turnover -€81,082
down €81,082 (-53.9%), from €150,522 to €69,440
- Staff costs -€36,020
down €36,020 (-53.8%), from €66,960 to €30,940
- Taxes +€30,943
up €30,943 (+238%), from €13,009 to €43,952
- Purchases and services +€18,992
up €18,992 (+16.2%), from €117,031 to €136,023
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €644,272 | €353,691 | -€290,580 | -45.1% |
| Fixed assets | 21/28 | €399,612 | €3,077 | -€396,534 | -99.2% |
| Tangible fixed assets | 22/27 | €399,437 | €2,903 | -€396,534 | -99.3% |
| Land and buildings | 22 | €397,263 | €2,903 | -€394,360 | -99.3% |
| Furniture and vehicles | 24 | €2,174 | €0 | -€2,174 | -100% |
| Financial fixed assets | 28 | €174 | €174 | = | 0.0% |
| Current assets | 29/58 | €244,660 | €350,614 | +€105,954 | +43.3% |
| Amounts receivable after more than one year | 29 | €118,000 | €118,000 | = | 0.0% |
| Trade receivables | 290 | - | €118,000 | +€118,000 | |
| Other amounts receivable | 291 | €118,000 | - | -€118,000 | |
| Amounts receivable within one year | 40/41 | €126,660 | €110,483 | -€16,177 | -12.8% |
| Trade receivables | 40 | €21,797 | - | -€21,797 | |
| Other amounts receivable | 41 | €104,863 | €110,483 | +€5,619 | +5.4% |
| Current investments | 50/53 | €0 | €122,131 | +€122,131 | |
| Total equity and liabilities | 10/49 | €644,272 | €353,691 | -€290,580 | -45.1% |
| Equity | 10/15 | €107,264 | €220,415 | +€113,151 | +105% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €116,077 | €116,077 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €114,217 | €114,217 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,413 | €85,739 | +€113,151 | |
| Amounts payable | 17/49 | €537,007 | €133,276 | -€403,731 | -75.2% |
| Amounts payable after more than one year | 17 | €332,235 | - | -€332,235 | |
| Financial debts | 170/4 | €332,235 | - | -€332,235 | |
| Amounts payable within one year | 42/48 | €200,977 | €130,181 | -€70,796 | -35.2% |
| Current portion of amounts payable after more than one year | 42 | €19,861 | - | -€19,861 | |
| Trade debts | 44 | €38,170 | €19,853 | -€18,316 | -48.0% |
| Suppliers | 440/4 | €38,170 | €19,853 | -€18,316 | -48.0% |
| Taxes, remuneration and social security | 45 | €21,581 | €54,998 | +€33,417 | +155% |
| Taxes | 450/3 | €21,581 | €54,998 | +€33,417 | +155% |
| Other amounts payable | 47/48 | €121,366 | €55,329 | -€66,037 | -54.4% |
| Accrued charges and deferred income | 492/3 | €3,795 | €3,095 | -€700 | -18.4% |
| Turnover | 70 | €150,522 | €69,440 | -€81,082 | -53.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €117,031 | €136,023 | +€18,992 | +16.2% |
| Remuneration, social security and pensions | 62 | €66,960 | €30,940 | -€36,020 | -53.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,785 | €21,818 | -€10,967 | -33.5% |
| Other operating charges | 640/8 | €13,041 | €3,238 | -€9,803 | -75.2% |
| Gross operating margin | 9900 | €57,667 | €225,041 | +€167,374 | +290% |
| Operating profit (loss) | 9901 | -€55,119 | €169,046 | +€224,165 | |
| Financial income | 75/76B | €4,323 | €4,698 | +€375 | +8.7% |
| Recurring financial income | 75 | €4,323 | €4,698 | +€375 | +8.7% |
| Financial charges | 65/66B | €23,373 | €16,640 | -€6,733 | -28.8% |
| Recurring financial charges | 65 | €23,373 | €16,640 | -€6,733 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | -€74,169 | €157,103 | +€231,272 | |
| Transfer from deferred taxes | 780 | €21,382 | - | -€21,382 | |
| Income taxes | 67/77 | €13,009 | €43,952 | +€30,943 | +238% |
| Profit (loss) for the period | 9904 | -€65,797 | €113,151 | +€178,948 | |
| Transfer from tax-exempt reserves | 789 | €64,145 | - | -€64,145 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,652 | €113,151 | +€114,803 |
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 22 October 2026 via checked.be.