Kbakery: what changed
Two fiscal 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.
Kbakery
Largest movements
- Tangible fixed assets +€127,259
up €127,259 (+165.8%), from €76,751 to €204,011
of which Other tangible fixed assets: +€112,084
- Cash +€30,519
up €30,519 (+73.8%), from €41,330 to €71,849
mainly Tax, wage and social debts (+€43,341) and Depreciation (+€43,200)
- Receivables within one year -€28,756
down €28,756 (-38.8%), from €74,122 to €45,366
of which Trade receivables: -€28,555
- Tax, wage and social debts +€43,341
up €43,341 (+416.8%), from €10,399 to €53,740
of which Remuneration and social security: +€21,979
- Other debts +€40,000
up €40,000 (+24.5%), from €163,444 to €203,444
- Reserves +€26,464
up €26,464 (+248.6%), from €10,646 to €37,111
of which Distributable reserves: +€26,464
- Trade debts +€24,041
up €24,041 (+36.7%), from €65,449 to €89,490
- Current portion of long-term debt -€7,344
no longer reported in 2025 (was €7,344)
- Gross operating margin +€343,740
up €343,740 (+399.7%), from €86,006 to €429,746
- Staff costs +€285,541
up €285,541 (+469.7%), from €60,794 to €346,335
- Depreciation +€31,391
up €31,391 (+265.8%), from €11,809 to €43,200
- Taxes +€6,967
up €6,967 (+208.4%), from €3,343 to €10,310
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 | €259,782 | €386,285 | +€126,503 | +48.7% |
| Fixed assets | 21/28 | €142,910 | €269,070 | +€126,159 | +88.3% |
| Intangible fixed assets | 21 | €18,709 | €17,609 | -€1,100 | -5.9% |
| Tangible fixed assets | 22/27 | €76,751 | €204,011 | +€127,259 | +165.8% |
| Plant, machinery and equipment | 23 | €5,194 | €3,896 | -€1,299 | -25.0% |
| Furniture and vehicles | 24 | €3,952 | €20,426 | +€16,474 | +416.9% |
| Other tangible fixed assets | 26 | €67,605 | €179,689 | +€112,084 | +165.8% |
| Financial fixed assets | 28 | €47,450 | €47,450 | = | 0.0% |
| Current assets | 29/58 | €116,872 | €117,215 | +€343 | +0.3% |
| Stocks and contracts in progress | 3 | €1,420 | - | -€1,420 | |
| Stocks | 30/36 | €1,420 | - | -€1,420 | |
| Amounts receivable within one year | 40/41 | €74,122 | €45,366 | -€28,756 | -38.8% |
| Trade receivables | 40 | €73,921 | €45,366 | -€28,555 | -38.6% |
| Other amounts receivable | 41 | €201 | - | -€201 | |
| Cash at bank and in hand | 54/58 | €41,330 | €71,849 | +€30,519 | +73.8% |
| Total equity and liabilities | 10/49 | €259,782 | €386,285 | +€126,503 | +48.7% |
| Equity | 10/15 | €13,146 | €39,611 | +€26,464 | +201.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €10,646 | €37,111 | +€26,464 | +248.6% |
| Non-distributable reserves | 130/1 | €368 | €368 | = | 0.0% |
| Reserves not available under the articles | 1311 | €368 | €368 | = | 0.0% |
| Distributable reserves | 133 | €10,278 | €36,743 | +€26,464 | +257.5% |
| Amounts payable | 17/49 | €246,636 | €346,674 | +€100,038 | +40.6% |
| Amounts payable within one year | 42/48 | €246,636 | €346,674 | +€100,038 | +40.6% |
| Current portion of amounts payable after more than one year | 42 | €7,344 | - | -€7,344 | |
| Trade debts | 44 | €65,449 | €89,490 | +€24,041 | +36.7% |
| Suppliers | 440/4 | €65,449 | €89,490 | +€24,041 | +36.7% |
| Taxes, remuneration and social security | 45 | €10,399 | €53,740 | +€43,341 | +416.8% |
| Taxes | 450/3 | €5,397 | €26,759 | +€21,361 | +395.8% |
| Remuneration and social security | 454/9 | €5,002 | €26,981 | +€21,979 | +439.4% |
| Other amounts payable | 47/48 | €163,444 | €203,444 | +€40,000 | +24.5% |
| Remuneration, social security and pensions | 62 | €60,794 | €346,335 | +€285,541 | +469.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,809 | €43,200 | +€31,391 | +265.8% |
| Other operating charges | 640/8 | €1,985 | €394 | -€1,591 | -80.2% |
| Gross operating margin | 9900 | €86,006 | €429,746 | +€343,740 | +399.7% |
| Operating profit (loss) | 9901 | €11,418 | €39,816 | +€28,398 | +248.7% |
| Financial charges | 65/66B | €1,824 | €3,042 | +€1,218 | +66.8% |
| Recurring financial charges | 65 | €1,824 | €3,042 | +€1,218 | +66.8% |
| Profit (loss) for the period before taxes | 9903 | €9,594 | €36,774 | +€27,180 | +283.3% |
| Income taxes | 67/77 | €3,343 | €10,310 | +€6,967 | +208.4% |
| Profit (loss) for the period | 9904 | €6,252 | €26,464 | +€20,213 | +323.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,252 | €26,464 | +€20,213 | +323.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.