KL-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.
KL-PROJECTS
Largest movements
- Stocks and contracts +€233,164
up €233,164 (+35.2%), from €663,312 to €896,476
- Cash -€31,806
down €31,806 (-11.6%), from €273,348 to €241,541
mainly Contributions, distributions and other (-€352,941) and Stocks and contracts (-€233,164)
- Receivables within one year -€24,825
down €24,825 (-18.2%), from €136,639 to €111,815
of which Other amounts receivable: -€39,886
- Intangible fixed assets -€23,100
down €23,100 (-30.3%), from €76,331 to €53,231
- Deferred charges and accrued income +€20,328
up €20,328 (+720.5%), from €2,821 to €23,149
- Other debts +€306,795
up €306,795 (+108.5%), from €282,880 to €589,675
- Reserves -€79,609
down €79,609 (-10.4%), from €764,810 to €685,200
- Debts after one year -€41,333
down €41,333 (-22.3%), from €185,667 to €144,334
- Trade debts -€18,614
down €18,614 (-46.8%), from €39,815 to €21,200
- Gross operating margin -€259,711
down €259,711 (-32.1%), from €809,838 to €550,126
- Taxes -€69,022
down €69,022 (-44.7%), from €154,544 to €85,521
- Financial charges +€8,756
up €8,756 (+50.3%), from €17,391 to €26,148
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 | €1,359,083 | €1,516,576 | +€157,492 | +11.6% |
| Fixed assets | 21/28 | €282,963 | €243,595 | -€39,368 | -13.9% |
| Intangible fixed assets | 21 | €76,331 | €53,231 | -€23,100 | -30.3% |
| Tangible fixed assets | 22/27 | €206,633 | €190,364 | -€16,268 | -7.9% |
| Land and buildings | 22 | €180,156 | €172,853 | -€7,303 | -4.1% |
| Plant, machinery and equipment | 23 | €3,591 | €2,326 | -€1,264 | -35.2% |
| Furniture and vehicles | 24 | €22,886 | €15,184 | -€7,701 | -33.7% |
| Current assets | 29/58 | €1,076,120 | €1,272,981 | +€196,861 | +18.3% |
| Stocks and contracts in progress | 3 | €663,312 | €896,476 | +€233,164 | +35.2% |
| Stocks | 30/36 | €663,312 | €896,476 | +€233,164 | +35.2% |
| Amounts receivable within one year | 40/41 | €136,639 | €111,815 | -€24,825 | -18.2% |
| Trade receivables | 40 | €62,521 | €77,583 | +€15,062 | +24.1% |
| Other amounts receivable | 41 | €74,118 | €34,232 | -€39,886 | -53.8% |
| Cash at bank and in hand | 54/58 | €273,348 | €241,541 | -€31,806 | -11.6% |
| Deferred charges and accrued income | 490/1 | €2,821 | €23,149 | +€20,328 | +720.5% |
| Total equity and liabilities | 10/49 | €1,359,083 | €1,516,576 | +€157,492 | +11.6% |
| Equity | 10/15 | €783,410 | €703,800 | -€79,609 | -10.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €764,810 | €685,200 | -€79,609 | -10.4% |
| Distributable reserves | 133 | €764,810 | €685,200 | -€79,609 | -10.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €575,674 | €812,775 | +€237,102 | +41.2% |
| Amounts payable after more than one year | 17 | €185,667 | €144,334 | -€41,333 | -22.3% |
| Financial debts | 170/4 | €185,667 | €144,334 | -€41,333 | -22.3% |
| Amounts payable within one year | 42/48 | €388,466 | €667,158 | +€278,692 | +71.7% |
| Current portion of amounts payable after more than one year | 42 | €41,333 | €41,333 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €39,815 | €21,200 | -€18,614 | -46.8% |
| Suppliers | 440/4 | €39,815 | €21,200 | -€18,614 | -46.8% |
| Advances received on contracts in progress | 46 | - | €19 | +€19 | |
| Taxes, remuneration and social security | 45 | €24,438 | €14,929 | -€9,508 | -38.9% |
| Taxes | 450/3 | €4,655 | €4,156 | -€499 | -10.7% |
| Remuneration and social security | 454/9 | €19,783 | €10,774 | -€9,009 | -45.5% |
| Other amounts payable | 47/48 | €282,880 | €589,675 | +€306,795 | +108.5% |
| Accrued charges and deferred income | 492/3 | €1,541 | €1,284 | -€257 | -16.7% |
| Remuneration, social security and pensions | 62 | €121,048 | €125,083 | +€4,035 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,955 | €42,591 | +€1,636 | +4.0% |
| Other operating charges | 640/8 | €3,287 | €3,639 | +€352 | +10.7% |
| Gross operating margin | 9900 | €809,838 | €550,126 | -€259,711 | -32.1% |
| Operating profit (loss) | 9901 | €644,548 | €378,813 | -€265,735 | -41.2% |
| Financial income | 75/76B | €9,352 | €6,187 | -€3,165 | -33.8% |
| Recurring financial income | 75 | €9,352 | €6,187 | -€3,165 | -33.8% |
| Financial charges | 65/66B | €17,391 | €26,148 | +€8,756 | +50.3% |
| Recurring financial charges | 65 | €17,391 | €26,148 | +€8,756 | +50.3% |
| Profit (loss) for the period before taxes | 9903 | €636,509 | €358,853 | -€277,656 | -43.6% |
| Income taxes | 67/77 | €154,544 | €85,521 | -€69,022 | -44.7% |
| Profit (loss) for the period | 9904 | €481,965 | €273,332 | -€208,634 | -43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €481,965 | €273,332 | -€208,634 | -43.3% |
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.