KING 47: what changed
KING 47
Largest movements
- Receivables within one year +€17,109
up €17,109 (+62.6%), from €27,323 to €44,432
- Cash -€3,381
down €3,381 (-89.4%), from €3,784 to €402
mainly Receivables within one year (-€17,109) and Current portion of long-term debt (-€3,417)
- Stocks and contracts +€1,614
up €1,614 (+402%), from €401 to €2,015
- Tax, wage and social debts +€12,051
up €12,051 (+87.5%), from €13,777 to €25,828
of which Remuneration and social security: +€7,451
- Trade debts +€3,456
up €3,456 (+79.3%), from €4,356 to €7,812
- Current portion of long-term debt -€3,417
no longer reported in 2025 (was €3,417)
- Reserves +€3,000
up €3,000 (+16.7%), from €18,000 to €21,000
- Staff costs +€40,924
up €40,924 (+1,203%), from €3,402 to €44,326
- Gross operating margin +€14,497
up €14,497 (+37.7%), from €38,407 to €52,904
- Taxes -€8,153
down €8,153 (-96.5%), from €8,453 to €300
- Other operating charges -€1,944
down €1,944 (-64.9%), from €2,997 to €1,053
- Depreciation +€1,605
up €1,605 (+174%), from €920 to €2,525
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €42,114 | €57,268 | +€15,155 | +36.0% |
| Fixed assets | 21/28 | €10,551 | €10,327 | -€224 | -2.1% |
| Tangible fixed assets | 22/27 | €6,551 | €6,327 | -€224 | -3.4% |
| Furniture and vehicles | 24 | €4,539 | €4,941 | +€402 | +8.9% |
| Other tangible fixed assets | 26 | €2,012 | €1,386 | -€626 | -31.1% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €31,562 | €46,941 | +€15,379 | +48.7% |
| Stocks and contracts in progress | 3 | €401 | €2,015 | +€1,614 | +402% |
| Stocks | 30/36 | €401 | €2,015 | +€1,614 | +402% |
| Amounts receivable within one year | 40/41 | €27,323 | €44,432 | +€17,109 | +62.6% |
| Other amounts receivable | 41 | €27,323 | €44,432 | +€17,109 | +62.6% |
| Cash at bank and in hand | 54/58 | €3,784 | €402 | -€3,381 | -89.4% |
| Deferred charges and accrued income | 490/1 | €54 | €91 | +€37 | +67.9% |
| Total equity and liabilities | 10/49 | €42,114 | €57,268 | +€15,155 | +36.0% |
| Equity | 10/15 | €20,563 | €23,628 | +€3,064 | +14.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €18,000 | €21,000 | +€3,000 | +16.7% |
| Distributable reserves | 133 | €18,000 | €21,000 | +€3,000 | +16.7% |
| Profit (loss) carried forward | 14 | €1,063 | €1,128 | +€64 | +6.1% |
| Amounts payable | 17/49 | €21,550 | €33,640 | +€12,090 | +56.1% |
| Amounts payable within one year | 42/48 | €21,550 | €33,640 | +€12,090 | +56.1% |
| Current portion of amounts payable after more than one year | 42 | €3,417 | - | -€3,417 | |
| Trade debts | 44 | €4,356 | €7,812 | +€3,456 | +79.3% |
| Suppliers | 440/4 | €4,356 | €7,812 | +€3,456 | +79.3% |
| Taxes, remuneration and social security | 45 | €13,777 | €25,828 | +€12,051 | +87.5% |
| Taxes | 450/3 | €11,371 | €15,971 | +€4,600 | +40.5% |
| Remuneration and social security | 454/9 | €2,407 | €9,858 | +€7,451 | +310% |
| Remuneration, social security and pensions | 62 | €3,402 | €44,326 | +€40,924 | +1,203% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €920 | €2,525 | +€1,605 | +174% |
| Other operating charges | 640/8 | €2,997 | €1,053 | -€1,944 | -64.9% |
| Gross operating margin | 9900 | €38,407 | €52,904 | +€14,497 | +37.7% |
| Operating profit (loss) | 9901 | €31,088 | €5,000 | -€26,089 | -83.9% |
| Financial income | 75/76B | €151 | €2 | -€150 | -98.9% |
| Recurring financial income | 75 | €151 | €2 | -€150 | -98.9% |
| Financial charges | 65/66B | €2,447 | €1,637 | -€810 | -33.1% |
| Recurring financial charges | 65 | €2,447 | €1,637 | -€810 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €28,793 | €3,364 | -€25,428 | -88.3% |
| Income taxes | 67/77 | €8,453 | €300 | -€8,153 | -96.5% |
| Profit (loss) for the period | 9904 | €20,339 | €3,064 | -€17,275 | -84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,339 | €3,064 | -€17,275 | -84.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.