KKO Belgium: what changed
KKO Belgium
Largest movements
- Receivables within one year +€39,835
up €39,835 (+32.8%), from €121,575 to €161,409
of which Trade receivables: +€65,279
- Tangible fixed assets +€18,822
up €18,822 (+12.0%), from €156,208 to €175,030
of which Plant, machinery and equipment: +€15,167
- Cash +€11,945
up €11,945 (+8.9%), from €133,737 to €145,681
mainly Net result for the year (+€75,942) and Depreciation (+€26,508)
- Reserves +€50,000
up €50,000 (+88.4%), from €56,566 to €106,566
of which Distributable reserves: +€50,000
- Profit (loss) carried forward +€25,942
up €25,942 (+8.3%), from €313,980 to €339,922
- Tax, wage and social debts +€18,542
up €18,542 (+336%), from €5,521 to €24,063
of which Taxes: +€14,172
- Other debts -€15,102
down €15,102 (-100%), from €15,102 to €0
- Gross operating margin +€30,833
up €30,833 (+20.2%), from €152,947 to €183,780
- Write-downs -€18,803
down €18,803 (-100%), from €18,803 to €0
- Other operating charges -€11,663
down €11,663 (-19.1%), from €61,145 to €49,482
- Taxes +€5,480
up €5,480 (+23.5%), from €23,356 to €28,836
- Financial charges +€2,779
up €2,779 (+464%), from €599 to €3,378
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 | €435,074 | €511,218 | +€76,144 | +17.5% |
| Fixed assets | 21/28 | €156,208 | €175,030 | +€18,822 | +12.0% |
| Tangible fixed assets | 22/27 | €156,208 | €175,030 | +€18,822 | +12.0% |
| Land and buildings | 22 | €108,566 | €101,172 | -€7,393 | -6.8% |
| Plant, machinery and equipment | 23 | €44,662 | €59,829 | +€15,167 | +34.0% |
| Furniture and vehicles | 24 | €2,980 | €14,028 | +€11,048 | +371% |
| Current assets | 29/58 | €278,866 | €336,188 | +€57,322 | +20.6% |
| Stocks and contracts in progress | 3 | €23,021 | €26,332 | +€3,311 | +14.4% |
| Stocks | 30/36 | €23,021 | €26,332 | +€3,311 | +14.4% |
| Amounts receivable within one year | 40/41 | €121,575 | €161,409 | +€39,835 | +32.8% |
| Trade receivables | 40 | €79,872 | €145,151 | +€65,279 | +81.7% |
| Other amounts receivable | 41 | €41,703 | €16,259 | -€25,444 | -61.0% |
| Cash at bank and in hand | 54/58 | €133,737 | €145,681 | +€11,945 | +8.9% |
| Deferred charges and accrued income | 490/1 | €534 | €2,766 | +€2,232 | +418% |
| Total equity and liabilities | 10/49 | €435,074 | €511,218 | +€76,144 | +17.5% |
| Equity | 10/15 | €381,474 | €457,201 | +€75,727 | +19.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €56,566 | €106,566 | +€50,000 | +88.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €56,566 | €106,566 | +€50,000 | +88.4% |
| Profit (loss) carried forward | 14 | €313,980 | €339,922 | +€25,942 | +8.3% |
| Investment grants | 15 | €4,729 | €4,514 | -€215 | -4.5% |
| Amounts payable | 17/49 | €53,600 | €54,017 | +€417 | +0.8% |
| Amounts payable within one year | 42/48 | €53,600 | €54,017 | +€417 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €32,977 | €29,954 | -€3,023 | -9.2% |
| Suppliers | 440/4 | €32,977 | €29,954 | -€3,023 | -9.2% |
| Taxes, remuneration and social security | 45 | €5,521 | €24,063 | +€18,542 | +336% |
| Taxes | 450/3 | €5,521 | €19,693 | +€14,172 | +257% |
| Remuneration and social security | 454/9 | €0 | €4,370 | +€4,370 | |
| Other amounts payable | 47/48 | €15,102 | €0 | -€15,102 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,347 | €26,508 | +€2,162 | +8.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €18,803 | €0 | -€18,803 | -100% |
| Other operating charges | 640/8 | €61,145 | €49,482 | -€11,663 | -19.1% |
| Gross operating margin | 9900 | €152,947 | €183,780 | +€30,833 | +20.2% |
| Operating profit (loss) | 9901 | €48,653 | €107,790 | +€59,137 | +122% |
| Financial income | 75/76B | €443 | €367 | -€76 | -17.1% |
| Recurring financial income | 75 | €443 | €367 | -€76 | -17.1% |
| Financial charges | 65/66B | €599 | €3,378 | +€2,779 | +464% |
| Recurring financial charges | 65 | €599 | €3,378 | +€2,779 | +464% |
| Profit (loss) for the period before taxes | 9903 | €48,496 | €104,779 | +€56,283 | +116% |
| Income taxes | 67/77 | €23,356 | €28,836 | +€5,480 | +23.5% |
| Profit (loss) for the period | 9904 | €25,140 | €75,942 | +€50,802 | +202% |
| Transfer from tax-exempt reserves | 789 | €29,566 | €0 | -€29,566 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €54,706 | €75,942 | +€21,237 | +38.8% |
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 5 November 2026 via checked.be.