KIRKPATRICK: 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.
KIRKPATRICK
Largest movements
- Intangible fixed assets -€142,419
down €142,419 (-36.1%), from €394,231 to €251,811
- Receivables within one year -€131,215
down €131,215 (-18.5%), from €708,176 to €576,961
of which Trade receivables: -€116,884
- Cash +€35,250
up €35,250 (+14.2%), from €247,592 to €282,843
mainly Depreciation (+€166,177) and Receivables within one year (+€131,215)
- Profit (loss) carried forward -€98,040
down €98,040 (-19.1%), from €512,047 to €414,007
- Trade debts -€66,247
down €66,247 (-12.1%), from €549,282 to €483,034
- Tax, wage and social debts -€58,653
down €58,653 (-23.2%), from €252,286 to €193,633
of which Taxes: -€53,743
- Other debts -€21,160
down €21,160 (-99.7%), from €21,223 to €63
- Gross operating margin -€158,293
down €158,293 (-12.0%), from €1.3m to €1.2m
- Staff costs +€24,206
up €24,206 (+2.2%), from €1.1m to €1.1m
- Other operating charges -€21,967
down €21,967 (-48.8%), from €44,985 to €23,019
- Financial income +€20,986
up €20,986 (+37.8%), from €55,512 to €76,498
- Write-downs -€15,006
down €15,006 (-97.8%), from €15,345 to €338
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 | €1,644,649 | €1,398,675 | -€245,974 | -15.0% |
| Fixed assets | 21/28 | €552,761 | €404,000 | -€148,761 | -26.9% |
| Intangible fixed assets | 21 | €394,231 | €251,811 | -€142,419 | -36.1% |
| Tangible fixed assets | 22/27 | €157,676 | €151,334 | -€6,342 | -4.0% |
| Land and buildings | 22 | €96,307 | €96,307 | = | 0.0% |
| Plant, machinery and equipment | 23 | €10,413 | €5,077 | -€5,336 | -51.2% |
| Furniture and vehicles | 24 | €45,150 | €44,143 | -€1,006 | -2.2% |
| Other tangible fixed assets | 26 | €5,806 | €5,806 | = | 0.0% |
| Financial fixed assets | 28 | €855 | €855 | = | 0.0% |
| Current assets | 29/58 | €1,091,887 | €994,675 | -€97,213 | -8.9% |
| Stocks and contracts in progress | 3 | €120,618 | €110,220 | -€10,398 | -8.6% |
| Contracts in progress | 37 | €120,618 | €110,220 | -€10,398 | -8.6% |
| Amounts receivable within one year | 40/41 | €708,176 | €576,961 | -€131,215 | -18.5% |
| Trade receivables | 40 | €666,487 | €549,602 | -€116,884 | -17.5% |
| Other amounts receivable | 41 | €41,689 | €27,358 | -€14,331 | -34.4% |
| Cash at bank and in hand | 54/58 | €247,592 | €282,843 | +€35,250 | +14.2% |
| Deferred charges and accrued income | 490/1 | €15,501 | €24,651 | +€9,150 | +59.0% |
| Total equity and liabilities | 10/49 | €1,644,649 | €1,398,675 | -€245,974 | -15.0% |
| Equity | 10/15 | €587,553 | €489,513 | -€98,040 | -16.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €14,006 | €14,006 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,006 | €14,006 | = | 0.0% |
| Legal reserve | 130 | €14,006 | €14,006 | = | 0.0% |
| Profit (loss) carried forward | 14 | €512,047 | €414,007 | -€98,040 | -19.1% |
| Amounts payable | 17/49 | €1,057,096 | €909,161 | -€147,935 | -14.0% |
| Amounts payable after more than one year | 17 | €16,932 | €6,870 | -€10,062 | -59.4% |
| Financial debts | 170/4 | €16,932 | €6,870 | -€10,062 | -59.4% |
| Amounts payable within one year | 42/48 | €1,017,565 | €882,989 | -€134,576 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €14,274 | €10,062 | -€4,211 | -29.5% |
| Financial debts | 43 | €180,000 | €191,286 | +€11,286 | +6.3% |
| Credit institutions | 430/8 | €180,000 | €191,286 | +€11,286 | +6.3% |
| Trade debts | 44 | €549,282 | €483,034 | -€66,247 | -12.1% |
| Suppliers | 440/4 | €549,282 | €483,034 | -€66,247 | -12.1% |
| Advances received on contracts in progress | 46 | €500 | €4,910 | +€4,410 | +882.0% |
| Taxes, remuneration and social security | 45 | €252,286 | €193,633 | -€58,653 | -23.2% |
| Taxes | 450/3 | €118,110 | €64,367 | -€53,743 | -45.5% |
| Remuneration and social security | 454/9 | €134,176 | €129,267 | -€4,909 | -3.7% |
| Other amounts payable | 47/48 | €21,223 | €63 | -€21,160 | -99.7% |
| Accrued charges and deferred income | 492/3 | €22,599 | €19,302 | -€3,297 | -14.6% |
| Remuneration, social security and pensions | 62 | €1,101,333 | €1,125,539 | +€24,206 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175,232 | €166,177 | -€9,055 | -5.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,345 | €338 | -€15,006 | -97.8% |
| Other operating charges | 640/8 | €44,985 | €23,019 | -€21,967 | -48.8% |
| Gross operating margin | 9900 | €1,321,953 | €1,163,660 | -€158,293 | -12.0% |
| Operating profit (loss) | 9901 | -€14,942 | -€151,413 | -€136,472 | -913.4% |
| Financial income | 75/76B | €55,512 | €76,498 | +€20,986 | +37.8% |
| Recurring financial income | 75 | €55,512 | €76,498 | +€20,986 | +37.8% |
| Financial charges | 65/66B | €21,691 | €22,509 | +€818 | +3.8% |
| Recurring financial charges | 65 | €21,691 | €22,509 | +€818 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €18,880 | -€97,424 | -€116,304 | |
| Income taxes | 67/77 | €12,884 | €615 | -€12,269 | -95.2% |
| Profit (loss) for the period | 9904 | €5,996 | -€98,040 | -€104,035 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,996 | -€98,040 | -€104,035 |
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 6 October 2026 via checked.be.