KNEO: 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.
KNEO
Largest movements
- Cash -€29,728
down €29,728 (-46.1%), from €64,451 to €34,723
mainly Net result for the year (-€25,686) and Debts after one year (-€9,962)
- Tangible fixed assets -€11,932
down €11,932 (-5.0%), from €238,139 to €226,207
of which Land and buildings: -€9,291
- Receivables within one year +€7,406
up €7,406 (+293%), from €2,527 to €9,933
of which Trade receivables: +€6,838
- Reserves -€25,686
down €25,686 (-61.9%), from €41,482 to €15,797
- Debts after one year -€9,962
down €9,962 (-4.7%), from €210,770 to €200,809
- Gross operating margin -€34,112
down €34,112, from €29,814 to -€4,298
- Depreciation -€2,476
down €2,476 (-14.2%), from €17,408 to €14,932
- Taxes -€466
down €466 (-76.8%), from €607 to €141
- Financial charges -€331
down €331 (-6.4%), from €5,203 to €4,873
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
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 | €316,054 | €279,896 | -€36,158 | -11.4% |
| Fixed assets | 21/28 | €238,389 | €226,457 | -€11,932 | -5.0% |
| Tangible fixed assets | 22/27 | €238,139 | €226,207 | -€11,932 | -5.0% |
| Land and buildings | 22 | €229,814 | €220,523 | -€9,291 | -4.0% |
| Plant, machinery and equipment | 23 | €717 | €2,599 | +€1,883 | +263% |
| Furniture and vehicles | 24 | €7,609 | €3,085 | -€4,524 | -59.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €77,665 | €53,439 | -€24,226 | -31.2% |
| Stocks and contracts in progress | 3 | €9,517 | €6,720 | -€2,798 | -29.4% |
| Stocks | 30/36 | €9,517 | €6,720 | -€2,798 | -29.4% |
| Amounts receivable within one year | 40/41 | €2,527 | €9,933 | +€7,406 | +293% |
| Trade receivables | 40 | €2,527 | €9,366 | +€6,838 | +271% |
| Other amounts receivable | 41 | - | €567 | +€567 | |
| Cash at bank and in hand | 54/58 | €64,451 | €34,723 | -€29,728 | -46.1% |
| Deferred charges and accrued income | 490/1 | €1,169 | €2,064 | +€894 | +76.5% |
| Total equity and liabilities | 10/49 | €316,054 | €279,896 | -€36,158 | -11.4% |
| Equity | 10/15 | €60,082 | €34,397 | -€25,686 | -42.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €41,482 | €15,797 | -€25,686 | -61.9% |
| Distributable reserves | 133 | €41,482 | €15,797 | -€25,686 | -61.9% |
| Amounts payable | 17/49 | €255,972 | €245,499 | -€10,472 | -4.1% |
| Amounts payable after more than one year | 17 | €210,770 | €200,809 | -€9,962 | -4.7% |
| Financial debts | 170/4 | €210,770 | €200,809 | -€9,962 | -4.7% |
| Amounts payable within one year | 42/48 | €45,201 | €44,691 | -€510 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €9,729 | €9,962 | +€233 | +2.4% |
| Trade debts | 44 | €814 | €2,249 | +€1,435 | +176% |
| Suppliers | 440/4 | €814 | €2,249 | +€1,435 | +176% |
| Taxes, remuneration and social security | 45 | €7,638 | €5,247 | -€2,391 | -31.3% |
| Taxes | 450/3 | €1,638 | €747 | -€891 | -54.4% |
| Remuneration and social security | 454/9 | €6,000 | €4,500 | -€1,500 | -25.0% |
| Other amounts payable | 47/48 | €27,020 | €27,233 | +€213 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,408 | €14,932 | -€2,476 | -14.2% |
| Other operating charges | 640/8 | €1,549 | €1,444 | -€105 | -6.8% |
| Gross operating margin | 9900 | €29,814 | -€4,298 | -€34,112 | |
| Operating profit (loss) | 9901 | €10,856 | -€20,674 | -€31,531 | |
| Financial income | 75/76B | €8 | €2 | -€6 | -70.8% |
| Recurring financial income | 75 | €8 | €2 | -€6 | -70.8% |
| Financial charges | 65/66B | €5,203 | €4,873 | -€331 | -6.4% |
| Recurring financial charges | 65 | €5,203 | €4,873 | -€331 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €5,661 | -€25,545 | -€31,206 | |
| Income taxes | 67/77 | €607 | €141 | -€466 | -76.8% |
| Profit (loss) for the period | 9904 | €5,054 | -€25,686 | -€30,740 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,054 | -€25,686 | -€30,740 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.