KH DRUKWERKEN: 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.
KH DRUKWERKEN
Largest movements
- Formation expenses -€32,363
down €32,363 (-41.1%), from €78,830 to €46,467
- Intangible fixed assets -€29,618
down €29,618 (-23.3%), from €127,382 to €97,763
- Tangible fixed assets -€17,448
down €17,448 (-13.1%), from €132,951 to €115,503
of which Plant, machinery and equipment: -€18,176
- Cash -€17,195
down €17,195 (-47.2%), from €36,396 to €19,201
mainly Debts after one year (-€418,674) and Net result for the year (-€25,638)
- Deferred charges and accrued income +€7,239
up €7,239 (+135%), from €5,350 to €12,589
- Debts after one year -€418,674
no longer reported in 2025 (was €418,674)
of which Other amounts payable: -€404,616
- Other debts +€389,679
new in 2025: €389,679
- Profit (loss) carried forward -€77,489
down €77,489, from €51,851 to -€25,638
- Reserves +€49,351
up €49,351 (+943%), from €5,232 to €54,583
of which Distributable reserves: +€51,851
- Current portion of long-term debt -€20,567
down €20,567 (-59.4%), from €34,625 to €14,058
- Gross operating margin +€17,690
up €17,690 (+39.7%), from €44,515 to €62,205
- Depreciation +€11,207
up €11,207 (+15.7%), from €71,549 to €82,756
- Financial charges -€2,770
down €2,770 (-45.5%), from €6,083 to €3,313
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 | €585,974 | €490,204 | -€95,770 | -16.3% |
| Formation expenses | 20 | €78,830 | €46,467 | -€32,363 | -41.1% |
| Fixed assets | 21/28 | €264,326 | €217,260 | -€47,066 | -17.8% |
| Intangible fixed assets | 21 | €127,382 | €97,763 | -€29,618 | -23.3% |
| Tangible fixed assets | 22/27 | €132,951 | €115,503 | -€17,448 | -13.1% |
| Land and buildings | 22 | €12,518 | €10,745 | -€1,773 | -14.2% |
| Plant, machinery and equipment | 23 | €119,690 | €101,514 | -€18,176 | -15.2% |
| Furniture and vehicles | 24 | - | €3,244 | +€3,244 | |
| Leasing and similar rights | 25 | €743 | - | -€743 | |
| Financial fixed assets | 28 | €3,994 | €3,994 | = | 0.0% |
| Current assets | 29/58 | €242,818 | €226,478 | -€16,341 | -6.7% |
| Stocks and contracts in progress | 3 | €90,490 | €89,915 | -€575 | -0.6% |
| Stocks | 30/36 | €90,490 | €89,915 | -€575 | -0.6% |
| Amounts receivable within one year | 40/41 | €110,581 | €104,773 | -€5,809 | -5.3% |
| Trade receivables | 40 | €110,581 | €104,773 | -€5,809 | -5.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €36,396 | €19,201 | -€17,195 | -47.2% |
| Deferred charges and accrued income | 490/1 | €5,350 | €12,589 | +€7,239 | +135% |
| Total equity and liabilities | 10/49 | €585,974 | €490,204 | -€95,770 | -16.3% |
| Equity | 10/15 | €82,083 | €56,445 | -€25,638 | -31.2% |
| Contributions | 10/11 | €25,000 | €27,500 | +€2,500 | +10.0% |
| Reserves | 13 | €5,232 | €54,583 | +€49,351 | +943% |
| Non-distributable reserves | 130/1 | €2,500 | - | -€2,500 | |
| Reserves not available under the articles | 1311 | €2,500 | - | -€2,500 | |
| Distributable reserves | 133 | €2,732 | €54,583 | +€51,851 | +1,898% |
| Profit (loss) carried forward | 14 | €51,851 | -€25,638 | -€77,489 | |
| Amounts payable | 17/49 | €503,891 | €433,759 | -€70,132 | -13.9% |
| Amounts payable after more than one year | 17 | €418,674 | - | -€418,674 | |
| Financial debts | 170/4 | €14,058 | - | -€14,058 | |
| Other amounts payable | 178/9 | €404,616 | - | -€404,616 | |
| Amounts payable within one year | 42/48 | €85,217 | €433,759 | +€348,542 | +409% |
| Current portion of amounts payable after more than one year | 42 | €34,625 | €14,058 | -€20,567 | -59.4% |
| Financial debts | 43 | €8,697 | - | -€8,697 | |
| Credit institutions | 430/8 | €8,697 | - | -€8,697 | |
| Trade debts | 44 | €38,071 | €23,954 | -€14,117 | -37.1% |
| Suppliers | 440/4 | €38,071 | €23,954 | -€14,117 | -37.1% |
| Taxes, remuneration and social security | 45 | €3,824 | €6,069 | +€2,245 | +58.7% |
| Taxes | 450/3 | €3,824 | €6,069 | +€2,245 | +58.7% |
| Other amounts payable | 47/48 | - | €389,679 | +€389,679 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €262 | - | -€262 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,549 | €82,756 | +€11,207 | +15.7% |
| Other operating charges | 640/8 | €1,141 | €1,458 | +€317 | +27.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €44,515 | €62,205 | +€17,690 | +39.7% |
| Operating profit (loss) | 9901 | -€28,175 | -€22,009 | +€6,166 | +21.9% |
| Financial income | 75/76B | €346 | €33 | -€313 | -90.5% |
| Recurring financial income | 75 | €346 | €33 | -€313 | -90.5% |
| Financial charges | 65/66B | €6,083 | €3,313 | -€2,770 | -45.5% |
| Recurring financial charges | 65 | €6,083 | €3,313 | -€2,770 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | -€33,913 | -€25,289 | +€8,623 | +25.4% |
| Income taxes | 67/77 | €322 | €348 | +€26 | +8.0% |
| Profit (loss) for the period | 9904 | -€34,235 | -€25,638 | +€8,597 | +25.1% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,235 | -€25,638 | +€8,597 | +25.1% |
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 27 October 2026 via checked.be.