K-WOOD: 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-WOOD
Largest movements
- Cash +€13,990
up €13,990 (+264%), from €5,294 to €19,284
mainly Trade debts (+€12,407) and Depreciation (+€11,571)
- Tangible fixed assets -€11,571
down €11,571 (-47.0%), from €24,602 to €13,031
of which Furniture and vehicles: -€9,256
- Deferred charges and accrued income +€3,944
new in 2025: €3,944
- Receivables within one year -€2,672
down €2,672 (-6.3%), from €42,541 to €39,869
of which Trade receivables: -€2,282
- Stocks and contracts +€1,027
up €1,027 (+45.3%), from €2,268 to €3,295
- Trade debts +€12,407
up €12,407 (+374%), from €3,319 to €15,725
- Tax, wage and social debts -€10,932
down €10,932 (-92.5%), from €11,818 to €886
- Reserves +€9,202
up €9,202 (+23.3%), from €39,414 to €48,615
- Debts after one year -€5,945
no longer reported in 2025 (was €5,945)
- Gross operating margin +€4,065
up €4,065 (+18.3%), from €22,261 to €26,327
- Depreciation +€1,506
up €1,506 (+15.0%), from €10,066 to €11,571
- Taxes +€835
up €835 (+26.7%), from €3,130 to €3,966
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 | €74,706 | €79,424 | +€4,718 | +6.3% |
| Fixed assets | 21/28 | €24,602 | €13,031 | -€11,571 | -47.0% |
| Intangible fixed assets | 21 | €1 | €0 | -€0 | -39.2% |
| Tangible fixed assets | 22/27 | €24,602 | €13,031 | -€11,571 | -47.0% |
| Plant, machinery and equipment | 23 | €6,190 | €3,874 | -€2,316 | -37.4% |
| Furniture and vehicles | 24 | €18,412 | €9,157 | -€9,256 | -50.3% |
| Current assets | 29/58 | €50,103 | €66,393 | +€16,289 | +32.5% |
| Stocks and contracts in progress | 3 | €2,268 | €3,295 | +€1,027 | +45.3% |
| Stocks | 30/36 | €2,268 | €3,295 | +€1,027 | +45.3% |
| Amounts receivable within one year | 40/41 | €42,541 | €39,869 | -€2,672 | -6.3% |
| Trade receivables | 40 | €33,454 | €31,172 | -€2,282 | -6.8% |
| Other amounts receivable | 41 | €9,087 | €8,698 | -€390 | -4.3% |
| Cash at bank and in hand | 54/58 | €5,294 | €19,284 | +€13,990 | +264% |
| Deferred charges and accrued income | 490/1 | - | €3,944 | +€3,944 | |
| Total equity and liabilities | 10/49 | €74,706 | €79,424 | +€4,718 | +6.3% |
| Equity | 10/15 | €40,414 | €49,615 | +€9,202 | +22.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €39,414 | €48,615 | +€9,202 | +23.3% |
| Distributable reserves | 133 | €39,414 | €48,615 | +€9,202 | +23.3% |
| Amounts payable | 17/49 | €34,292 | €29,809 | -€4,484 | -13.1% |
| Amounts payable after more than one year | 17 | €5,945 | - | -€5,945 | |
| Financial debts | 170/4 | €5,945 | - | -€5,945 | |
| Amounts payable within one year | 42/48 | €28,347 | €29,809 | +€1,462 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €6,162 | €5,839 | -€324 | -5.3% |
| Financial debts | 43 | €3,594 | €3,563 | -€31 | -0.9% |
| Other loans | 439 | €3,594 | €3,563 | -€31 | -0.9% |
| Trade debts | 44 | €3,319 | €15,725 | +€12,407 | +374% |
| Suppliers | 440/4 | €3,319 | €15,725 | +€12,407 | +374% |
| Taxes, remuneration and social security | 45 | €11,818 | €886 | -€10,932 | -92.5% |
| Taxes | 450/3 | €11,818 | €886 | -€10,932 | -92.5% |
| Other amounts payable | 47/48 | €3,454 | €3,796 | +€342 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,066 | €11,571 | +€1,506 | +15.0% |
| Other operating charges | 640/8 | €390 | €400 | +€10 | +2.4% |
| Gross operating margin | 9900 | €22,261 | €26,327 | +€4,065 | +18.3% |
| Operating profit (loss) | 9901 | €11,806 | €14,356 | +€2,550 | +21.6% |
| Financial charges | 65/66B | €463 | €356 | -€107 | -23.2% |
| Recurring financial charges | 65 | €463 | €356 | -€107 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €11,342 | €14,000 | +€2,658 | +23.4% |
| Income taxes | 67/77 | €3,130 | €3,966 | +€835 | +26.7% |
| Profit (loss) for the period | 9904 | €8,212 | €10,035 | +€1,822 | +22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,212 | €10,035 | +€1,822 | +22.2% |
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 29 October 2026 via checked.be.