K.W.N.: 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.W.N.
Largest movements
- Cash +€162,386
up €162,386 (+31.1%), from €522,022 to €684,408
mainly Net result for the year (+€237,886) and Depreciation (+€10,063)
- Receivables within one year +€57,965
up €57,965 (+46.4%), from €125,045 to €183,010
of which Trade receivables: +€43,614
- Tangible fixed assets +€18,302
up €18,302 (+56.2%), from €32,552 to €50,854
of which Furniture and vehicles: +€17,149
- Reserves +€237,886
up €237,886 (+37.4%), from €636,661 to €874,546
- Gross operating margin +€139,750
up €139,750 (+63.2%), from €221,200 to €360,950
- Taxes +€44,528
up €44,528 (+65.1%), from €68,441 to €112,969
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 | €683,875 | €921,897 | +€238,021 | +34.8% |
| Fixed assets | 21/28 | €32,552 | €50,854 | +€18,302 | +56.2% |
| Tangible fixed assets | 22/27 | €32,552 | €50,854 | +€18,302 | +56.2% |
| Plant, machinery and equipment | 23 | €2,121 | €3,274 | +€1,153 | +54.3% |
| Furniture and vehicles | 24 | €30,431 | €47,581 | +€17,149 | +56.4% |
| Current assets | 29/58 | €651,323 | €871,043 | +€219,720 | +33.7% |
| Amounts receivable within one year | 40/41 | €125,045 | €183,010 | +€57,965 | +46.4% |
| Trade receivables | 40 | €120,351 | €163,966 | +€43,614 | +36.2% |
| Other amounts receivable | 41 | €4,693 | €19,044 | +€14,351 | +306% |
| Cash at bank and in hand | 54/58 | €522,022 | €684,408 | +€162,386 | +31.1% |
| Deferred charges and accrued income | 490/1 | €4,256 | €3,624 | -€632 | -14.8% |
| Total equity and liabilities | 10/49 | €683,875 | €921,897 | +€238,021 | +34.8% |
| Equity | 10/15 | €644,661 | €882,546 | +€237,886 | +36.9% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €636,661 | €874,546 | +€237,886 | +37.4% |
| Distributable reserves | 133 | €636,661 | €874,546 | +€237,886 | +37.4% |
| Amounts payable | 17/49 | €39,215 | €39,350 | +€135 | +0.3% |
| Amounts payable within one year | 42/48 | €39,215 | €39,350 | +€135 | +0.3% |
| Trade debts | 44 | €4,071 | €9,132 | +€5,062 | +124% |
| Suppliers | 440/4 | €4,071 | €9,132 | +€5,062 | +124% |
| Taxes, remuneration and social security | 45 | €32,974 | €30,082 | -€2,892 | -8.8% |
| Taxes | 450/3 | €32,974 | €30,082 | -€2,892 | -8.8% |
| Other amounts payable | 47/48 | €2,171 | €136 | -€2,035 | -93.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,121 | €10,063 | +€942 | +10.3% |
| Other operating charges | 640/8 | €813 | €771 | -€42 | -5.2% |
| Gross operating margin | 9900 | €221,200 | €360,950 | +€139,750 | +63.2% |
| Operating profit (loss) | 9901 | €211,266 | €350,116 | +€138,850 | +65.7% |
| Financial income | 75/76B | €0 | €820 | +€819 | +195,098% |
| Recurring financial income | 75 | €0 | €820 | +€819 | +195,098% |
| Financial charges | 65/66B | €68 | €81 | +€13 | +19.5% |
| Recurring financial charges | 65 | €68 | €81 | +€13 | +19.5% |
| Profit (loss) for the period before taxes | 9903 | €211,198 | €350,855 | +€139,656 | +66.1% |
| Income taxes | 67/77 | €68,441 | €112,969 | +€44,528 | +65.1% |
| Profit (loss) for the period | 9904 | €142,758 | €237,886 | +€95,128 | +66.6% |
| Profit (loss) for the period to be appropriated | 9905 | €142,758 | €237,886 | +€95,128 | +66.6% |
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.