KNAERS: what changed
Two financial 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.
KNAERS
Largest movements
- Receivables within one year -€42,829
down €42,829 (-66.9%), from €64,002 to €21,173
of which Other amounts receivable: -€41,948
- Tangible fixed assets -€16,978
down €16,978 (-67.4%), from €25,190 to €8,212
of which Other tangible fixed assets: -€12,047
- Stocks and contracts -€11,722
no longer reported in 2025 (was €11,722)
- Cash +€10,337
up €10,337 (+358%), from €2,884 to €13,222
- Intangible fixed assets -€7,560
no longer reported in 2025 (was €7,560)
- Trade debts -€36,464
down €36,464 (-73.6%), from €49,525 to €13,061
- Tax, wage and social debts -€26,096
no longer reported in 2025 (was €26,096)
of which Remuneration and social security: -€14,832
- Accrued charges and deferred income -€15,041
no longer reported in 2025 (was €15,041)
- Current portion of long-term debt +€9,531
up €9,531 (+2,756%), from €346 to €9,877
- Other debts -€6,021
no longer reported in 2025 (was €6,021)
- Gross operating margin +€176,583
up €176,583 (+88.3%), from €200,058 to €376,641
- Staff costs +€125,043
up €125,043 (+57.4%), from €217,834 to €342,877
- Other operating charges +€13,035
up €13,035 (+146%), from €8,937 to €21,972
- Taxes -€12,114
no longer reported in 2025 (was €12,114)
- Depreciation -€11,969
down €11,969 (-87.8%), from €13,634 to €1,664
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.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €113,001 | €45,803 | -€67,198 | -59.5% |
| Fixed assets | 21/28 | €32,750 | €8,212 | -€24,538 | -74.9% |
| Intangible fixed assets | 21 | €7,560 | - | -€7,560 | |
| Tangible fixed assets | 22/27 | €25,190 | €8,212 | -€16,978 | -67.4% |
| Plant, machinery and equipment | 23 | €8,142 | - | -€8,142 | |
| Furniture and vehicles | 24 | €5,000 | €8,212 | +€3,211 | +64.2% |
| Other tangible fixed assets | 26 | €12,047 | - | -€12,047 | |
| Current assets | 29/58 | €80,252 | €37,592 | -€42,660 | -53.2% |
| Stocks and contracts in progress | 3 | €11,722 | - | -€11,722 | |
| Stocks | 30/36 | €11,722 | - | -€11,722 | |
| Amounts receivable within one year | 40/41 | €64,002 | €21,173 | -€42,829 | -66.9% |
| Trade receivables | 40 | €881 | - | -€881 | |
| Other amounts receivable | 41 | €63,121 | €21,173 | -€41,948 | -66.5% |
| Cash at bank and in hand | 54/58 | €2,884 | €13,222 | +€10,337 | +358% |
| Deferred charges and accrued income | 490/1 | €1,643 | €3,197 | +€1,554 | +94.5% |
| Total equity and liabilities | 10/49 | €113,001 | €45,803 | -€67,198 | -59.5% |
| Equity | 10/15 | €6,013 | €11,342 | +€5,329 | +88.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €15,826 | €15,826 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €13,966 | €13,966 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,213 | -€16,884 | +€5,329 | +24.0% |
| Amounts payable | 17/49 | €106,989 | €34,461 | -€72,527 | -67.8% |
| Amounts payable after more than one year | 17 | €9,960 | €11,524 | +€1,563 | +15.7% |
| Financial debts | 170/4 | €9,960 | €11,524 | +€1,563 | +15.7% |
| Amounts payable within one year | 42/48 | €81,987 | €22,938 | -€59,050 | -72.0% |
| Current portion of amounts payable after more than one year | 42 | €346 | €9,877 | +€9,531 | +2,756% |
| Trade debts | 44 | €49,525 | €13,061 | -€36,464 | -73.6% |
| Suppliers | 440/4 | €49,525 | €13,061 | -€36,464 | -73.6% |
| Taxes, remuneration and social security | 45 | €26,096 | - | -€26,096 | |
| Taxes | 450/3 | €11,263 | - | -€11,263 | |
| Remuneration and social security | 454/9 | €14,832 | - | -€14,832 | |
| Other amounts payable | 47/48 | €6,021 | - | -€6,021 | |
| Accrued charges and deferred income | 492/3 | €15,041 | - | -€15,041 | |
| Non-recurring operating income | 76A | €11,542 | €74,057 | +€62,515 | +542% |
| Remuneration, social security and pensions | 62 | €217,834 | €342,877 | +€125,043 | +57.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,634 | €1,664 | -€11,969 | -87.8% |
| Other operating charges | 640/8 | €8,937 | €21,972 | +€13,035 | +146% |
| Non-recurring operating charges | 66A | €3,566 | - | -€3,566 | |
| Gross operating margin | 9900 | €200,058 | €376,641 | +€176,583 | +88.3% |
| Operating profit (loss) | 9901 | -€43,913 | €10,128 | +€54,041 | |
| Financial income | 75/76B | €2,655 | €1,453 | -€1,202 | -45.3% |
| Recurring financial income | 75 | €2,655 | €1,453 | -€1,202 | -45.3% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €6,954 | €6,252 | -€702 | -10.1% |
| Recurring financial charges | 65 | €6,954 | €6,252 | -€702 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | -€48,212 | €5,329 | +€53,541 | |
| Income taxes | 67/77 | €12,114 | - | -€12,114 | |
| Profit (loss) for the period | 9904 | -€60,325 | €5,329 | +€65,655 | |
| Profit (loss) for the period to be appropriated | 9905 | -€60,325 | €5,329 | +€65,655 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.