K2S: 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.
K2S
Largest movements
- Receivables within one year -€278,749
down €278,749 (-74.9%), from €371,937 to €93,188
of which Trade receivables: -€280,744
- Tangible fixed assets +€151,420
up €151,420 (+35.3%), from €429,060 to €580,481
of which Land and buildings: +€103,730
- Cash +€69,536
up €69,536 (+3667.5%), from €1,896 to €71,432
mainly Receivables within one year (+€278,749) and Depreciation (+€55,245)
- Intangible fixed assets -€12,000
down €12,000 (-50.0%), from €24,000 to €12,000
- Other debts -€80,958
down €80,958 (-32.7%), from €247,734 to €166,776
- Debts after one year +€44,396
up €44,396 (+16.7%), from €266,117 to €310,513
- Profit (loss) carried forward -€15,102
down €15,102 (-14.1%), from €107,314 to €92,212
- Trade debts -€12,108
down €12,108 (-44.8%), from €27,047 to €14,940
- Tax, wage and social debts -€10,626
down €10,626 (-37.6%), from €28,249 to €17,623
- Gross operating margin -€103,592
down €103,592 (-36.3%), from €285,525 to €181,932
- Financial charges -€37,032
down €37,032 (-22.4%), from €165,177 to €128,145
- Taxes -€17,166
down €17,166 (-77.0%), from €22,291 to €5,125
- Depreciation +€12,767
up €12,767 (+30.1%), from €42,478 to €55,245
- Other operating charges +€4,836
up €4,836 (+131.3%), from €3,682 to €8,519
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 | €828,628 | €759,282 | -€69,346 | -8.4% |
| Fixed assets | 21/28 | €453,060 | €592,481 | +€139,420 | +30.8% |
| Intangible fixed assets | 21 | €24,000 | €12,000 | -€12,000 | -50.0% |
| Tangible fixed assets | 22/27 | €429,060 | €580,481 | +€151,420 | +35.3% |
| Land and buildings | 22 | €365,061 | €468,791 | +€103,730 | +28.4% |
| Furniture and vehicles | 24 | €18,599 | €71,383 | +€52,784 | +283.8% |
| Other tangible fixed assets | 26 | €45,401 | €40,307 | -€5,094 | -11.2% |
| Current assets | 29/58 | €375,568 | €166,801 | -€208,767 | -55.6% |
| Amounts receivable within one year | 40/41 | €371,937 | €93,188 | -€278,749 | -74.9% |
| Trade receivables | 40 | €357,244 | €76,500 | -€280,744 | -78.6% |
| Other amounts receivable | 41 | €14,693 | €16,688 | +€1,995 | +13.6% |
| Cash at bank and in hand | 54/58 | €1,896 | €71,432 | +€69,536 | +3667.5% |
| Deferred charges and accrued income | 490/1 | €1,735 | €2,181 | +€447 | +25.7% |
| Total equity and liabilities | 10/49 | €828,628 | €759,282 | -€69,346 | -8.4% |
| Equity | 10/15 | €218,909 | €203,808 | -€15,102 | -6.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €109,096 | €109,096 | = | 0.0% |
| Distributable reserves | 133 | €109,096 | €109,096 | = | 0.0% |
| Profit (loss) carried forward | 14 | €107,314 | €92,212 | -€15,102 | -14.1% |
| Amounts payable | 17/49 | €609,718 | €555,474 | -€54,244 | -8.9% |
| Amounts payable after more than one year | 17 | €266,117 | €310,513 | +€44,396 | +16.7% |
| Financial debts | 170/4 | €266,117 | €310,513 | +€44,396 | +16.7% |
| Amounts payable within one year | 42/48 | €343,601 | €244,961 | -€98,641 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €40,572 | €45,622 | +€5,051 | +12.4% |
| Trade debts | 44 | €27,047 | €14,940 | -€12,108 | -44.8% |
| Suppliers | 440/4 | €27,047 | €14,940 | -€12,108 | -44.8% |
| Taxes, remuneration and social security | 45 | €28,249 | €17,623 | -€10,626 | -37.6% |
| Taxes | 450/3 | €28,249 | €17,623 | -€10,626 | -37.6% |
| Other amounts payable | 47/48 | €247,734 | €166,776 | -€80,958 | -32.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,478 | €55,245 | +€12,767 | +30.1% |
| Other operating charges | 640/8 | €3,682 | €8,519 | +€4,836 | +131.3% |
| Gross operating margin | 9900 | €285,525 | €181,932 | -€103,592 | -36.3% |
| Operating profit (loss) | 9901 | €239,365 | €118,169 | -€121,196 | -50.6% |
| Financial charges | 65/66B | €165,177 | €128,145 | -€37,032 | -22.4% |
| Recurring financial charges | 65 | €165,177 | €128,145 | -€37,032 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €74,187 | -€9,977 | -€84,164 | |
| Income taxes | 67/77 | €22,291 | €5,125 | -€17,166 | -77.0% |
| Profit (loss) for the period | 9904 | €51,897 | -€15,102 | -€66,998 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,897 | -€15,102 | -€66,998 |
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 11 October 2026 via checked.be.