KILOWATTS: 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.
KILOWATTS
Largest movements
- Receivables within one year +€464,732
up €464,732 (+381%), from €122,002 to €586,734
of which Other amounts receivable: +€470,180
- Stocks and contracts -€299,099
no longer reported in 2025 (was €299,099)
- Cash -€44,358
down €44,358 (-65.7%), from €67,545 to €23,187
mainly Receivables within one year (-€464,732) and Trade debts (-€71,855)
- Tangible fixed assets -€19,393
down €19,393 (-34.7%), from €55,818 to €36,425
of which Furniture and vehicles: -€19,809
- Profit (loss) carried forward +€115,041
up €115,041 (+55.5%), from €207,115 to €322,156
- Advances received +€90,000
new in 2025: €90,000
- Trade debts -€71,855
down €71,855 (-33.7%), from €213,244 to €141,389
- Other debts -€35,485
no longer reported in 2025 (was €35,485)
- Tax, wage and social debts +€12,026
up €12,026 (+33.7%), from €35,726 to €47,752
- Purchases and services -€334,959
down €334,959 (-22.0%), from €1.5m to €1.2m
- Turnover -€229,812
down €229,812 (-14.4%), from €1.6m to €1.4m
- Gross operating margin +€105,874
up €105,874 (+140%), from €75,640 to €181,514
- Taxes +€16,367
up €16,367 (+104%), from €15,692 to €32,059
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 | €544,614 | €646,496 | +€101,882 | +18.7% |
| Fixed assets | 21/28 | €55,968 | €36,575 | -€19,393 | -34.7% |
| Tangible fixed assets | 22/27 | €55,818 | €36,425 | -€19,393 | -34.7% |
| Plant, machinery and equipment | 23 | - | €416 | +€416 | |
| Furniture and vehicles | 24 | €55,818 | €36,009 | -€19,809 | -35.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €488,646 | €609,921 | +€121,275 | +24.8% |
| Stocks and contracts in progress | 3 | €299,099 | - | -€299,099 | |
| Stocks | 30/36 | €299,099 | - | -€299,099 | |
| Amounts receivable within one year | 40/41 | €122,002 | €586,734 | +€464,732 | +381% |
| Trade receivables | 40 | €56,686 | €51,238 | -€5,448 | -9.6% |
| Other amounts receivable | 41 | €65,316 | €535,496 | +€470,180 | +720% |
| Cash at bank and in hand | 54/58 | €67,545 | €23,187 | -€44,358 | -65.7% |
| Total equity and liabilities | 10/49 | €544,614 | €646,496 | +€101,882 | +18.7% |
| Equity | 10/15 | €225,985 | €341,026 | +€115,041 | +50.9% |
| Contributions | 10/11 | €18,870 | €18,870 | = | 0.0% |
| Profit (loss) carried forward | 14 | €207,115 | €322,156 | +€115,041 | +55.5% |
| Amounts payable | 17/49 | €318,629 | €305,470 | -€13,159 | -4.1% |
| Amounts payable after more than one year | 17 | €26,831 | €18,597 | -€8,234 | -30.7% |
| Financial debts | 170/4 | €26,831 | €18,597 | -€8,234 | -30.7% |
| Amounts payable within one year | 42/48 | €291,798 | €286,873 | -€4,925 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €7,343 | €7,732 | +€389 | +5.3% |
| Trade debts | 44 | €213,244 | €141,389 | -€71,855 | -33.7% |
| Suppliers | 440/4 | €213,244 | €141,389 | -€71,855 | -33.7% |
| Advances received on contracts in progress | 46 | - | €90,000 | +€90,000 | |
| Taxes, remuneration and social security | 45 | €35,726 | €47,752 | +€12,026 | +33.7% |
| Taxes | 450/3 | €35,726 | €47,752 | +€12,026 | +33.7% |
| Other amounts payable | 47/48 | €35,485 | - | -€35,485 | |
| Turnover | 70 | €1,590,771 | €1,360,959 | -€229,812 | -14.4% |
| Non-recurring operating income | 76A | €10,020 | €10,746 | +€727 | +7.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,525,150 | €1,190,191 | -€334,959 | -22.0% |
| Remuneration, social security and pensions | 62 | €1,552 | - | -€1,552 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,142 | €16,903 | -€1,239 | -6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,600 | +€1,600 | |
| Other operating charges | 640/8 | €5,495 | €11,369 | +€5,875 | +107% |
| Gross operating margin | 9900 | €75,640 | €181,514 | +€105,874 | +140% |
| Operating profit (loss) | 9901 | €50,451 | €151,642 | +€101,191 | +201% |
| Financial income | 75/76B | €701 | €6,403 | +€5,701 | +813% |
| Recurring financial income | 75 | €701 | €6,403 | +€5,701 | +813% |
| Financial charges | 65/66B | €12,460 | €10,945 | -€1,514 | -12.2% |
| Recurring financial charges | 65 | €12,460 | €10,945 | -€1,514 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €38,693 | €147,100 | +€108,407 | +280% |
| Income taxes | 67/77 | €15,692 | €32,059 | +€16,367 | +104% |
| Profit (loss) for the period | 9904 | €23,001 | €115,041 | +€92,040 | +400% |
| Profit (loss) for the period to be appropriated | 9905 | €23,001 | €115,041 | +€92,040 | +400% |
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 21 October 2026 via checked.be.