King projects: 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.
King projects
Largest movements
- Tangible fixed assets +€32,927
up €32,927 (+206.8%), from €15,921 to €48,848
of which Land and buildings: +€34,999
- Cash -€21,201
down €21,201 (-23.7%), from €89,638 to €68,438
mainly Investment in fixed assets (net) (-€42,343) and Stocks and contracts (-€5,058)
- Receivables within one year -€16,964
down €16,964 (-32.7%), from €51,906 to €34,942
of which Trade receivables: -€23,726
- Stocks and contracts +€5,058
up €5,058 (+186.0%), from €2,719 to €7,777
- Other debts -€4,682
down €4,682 (-22.9%), from €20,428 to €15,746
- Trade debts +€2,580
up €2,580 (+19.0%), from €13,593 to €16,173
- Gross operating margin -€42,872
down €42,872 (-71.9%), from €59,649 to €16,777
- Staff costs -€12,464
down €12,464 (-100.0%), from €12,464 to €0
- Taxes -€11,830
down €11,830 (-85.5%), from €13,837 to €2,007
- Depreciation +€5,010
up €5,010 (+113.7%), from €4,406 to €9,416
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 | €163,303 | €162,427 | -€876 | -0.5% |
| Fixed assets | 21/28 | €15,921 | €48,848 | +€32,927 | +206.8% |
| Tangible fixed assets | 22/27 | €15,921 | €48,848 | +€32,927 | +206.8% |
| Land and buildings | 22 | - | €34,999 | +€34,999 | |
| Plant, machinery and equipment | 23 | €13,337 | €12,074 | -€1,263 | -9.5% |
| Furniture and vehicles | 24 | €2,584 | €1,776 | -€808 | -31.3% |
| Current assets | 29/58 | €147,382 | €113,579 | -€33,803 | -22.9% |
| Stocks and contracts in progress | 3 | €2,719 | €7,777 | +€5,058 | +186.0% |
| Stocks | 30/36 | €2,719 | €7,777 | +€5,058 | +186.0% |
| Amounts receivable within one year | 40/41 | €51,906 | €34,942 | -€16,964 | -32.7% |
| Trade receivables | 40 | €47,402 | €23,676 | -€23,726 | -50.1% |
| Other amounts receivable | 41 | €4,504 | €11,266 | +€6,762 | +150.1% |
| Cash at bank and in hand | 54/58 | €89,638 | €68,438 | -€21,201 | -23.7% |
| Deferred charges and accrued income | 490/1 | €3,119 | €2,423 | -€696 | -22.3% |
| Total equity and liabilities | 10/49 | €163,303 | €162,427 | -€876 | -0.5% |
| Equity | 10/15 | €122,623 | €123,064 | +€441 | +0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,023 | €104,464 | +€441 | +0.4% |
| Tax-exempt reserves | 132 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €101,523 | €101,964 | +€441 | +0.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €40,680 | €39,363 | -€1,317 | -3.2% |
| Amounts payable within one year | 42/48 | €38,473 | €36,831 | -€1,642 | -4.3% |
| Trade debts | 44 | €13,593 | €16,173 | +€2,580 | +19.0% |
| Suppliers | 440/4 | €13,593 | €16,173 | +€2,580 | +19.0% |
| Taxes, remuneration and social security | 45 | €4,452 | €4,912 | +€460 | +10.3% |
| Taxes | 450/3 | €4,452 | €2,592 | -€1,860 | -41.8% |
| Remuneration and social security | 454/9 | €0 | €2,320 | +€2,320 | |
| Other amounts payable | 47/48 | €20,428 | €15,746 | -€4,682 | -22.9% |
| Accrued charges and deferred income | 492/3 | €2,207 | €2,532 | +€325 | +14.7% |
| Remuneration, social security and pensions | 62 | €12,464 | €0 | -€12,464 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,406 | €9,416 | +€5,010 | +113.7% |
| Other operating charges | 640/8 | €1,655 | €1,670 | +€15 | +0.9% |
| Gross operating margin | 9900 | €59,649 | €16,777 | -€42,872 | -71.9% |
| Operating profit (loss) | 9901 | €41,125 | €5,692 | -€35,433 | -86.2% |
| Financial income | 75/76B | €721 | €167 | -€554 | -76.8% |
| Recurring financial income | 75 | €721 | €167 | -€554 | -76.8% |
| Financial charges | 65/66B | €3,113 | €3,411 | +€299 | +9.6% |
| Recurring financial charges | 65 | €3,113 | €3,411 | +€299 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €38,734 | €2,448 | -€36,286 | -93.7% |
| Income taxes | 67/77 | €13,837 | €2,007 | -€11,830 | -85.5% |
| Profit (loss) for the period | 9904 | €24,897 | €441 | -€24,456 | -98.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,897 | €441 | -€24,456 | -98.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.