KNF: 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.
KNF
Largest movements
- Cash -€165,485
down €165,485 (-60.7%), from €272,539 to €107,055
mainly Other debts (-€113,648) and Receivables within one year (-€85,133)
- Receivables within one year +€85,133
up €85,133 (+175%), from €48,535 to €133,668
of which Other amounts receivable: +€89,163
- Deferred charges and accrued income -€14,854
down €14,854 (-84.9%), from €17,485 to €2,632
- Tangible fixed assets -€7,200
down €7,200 (-14.7%), from €48,972 to €41,772
of which Other tangible fixed assets: -€6,883
- Other debts -€113,648
down €113,648 (-61.9%), from €183,487 to €69,839
- Tax, wage and social debts -€55,620
down €55,620 (-40.9%), from €135,969 to €80,349
of which Taxes: -€58,963
- Trade debts +€45,962
up €45,962 (+74.8%), from €61,455 to €107,417
- Debts after one year +€15,022
new in 2025: €15,022
- Reserves +€9,995
up €9,995 (+537%), from €1,860 to €11,855
- Gross operating margin -€224,469
down €224,469 (-27.9%), from €803,685 to €579,216
- Taxes -€50,947
down €50,947 (-84.9%), from €60,003 to €9,056
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 | €423,418 | €325,347 | -€98,072 | -23.2% |
| Fixed assets | 21/28 | €66,222 | €62,857 | -€3,365 | -5.1% |
| Intangible fixed assets | 21 | - | €3,836 | +€3,836 | |
| Tangible fixed assets | 22/27 | €48,972 | €41,772 | -€7,200 | -14.7% |
| Plant, machinery and equipment | 23 | €12,794 | €14,488 | +€1,693 | +13.2% |
| Furniture and vehicles | 24 | €7,251 | €5,240 | -€2,011 | -27.7% |
| Other tangible fixed assets | 26 | €28,927 | €22,044 | -€6,883 | -23.8% |
| Financial fixed assets | 28 | €17,250 | €17,250 | = | 0.0% |
| Current assets | 29/58 | €357,196 | €262,490 | -€94,707 | -26.5% |
| Stocks and contracts in progress | 3 | €18,637 | €19,136 | +€499 | +2.7% |
| Stocks | 30/36 | €18,637 | €19,136 | +€499 | +2.7% |
| Amounts receivable within one year | 40/41 | €48,535 | €133,668 | +€85,133 | +175% |
| Trade receivables | 40 | €14,084 | €10,054 | -€4,031 | -28.6% |
| Other amounts receivable | 41 | €34,451 | €123,614 | +€89,163 | +259% |
| Cash at bank and in hand | 54/58 | €272,539 | €107,055 | -€165,485 | -60.7% |
| Deferred charges and accrued income | 490/1 | €17,485 | €2,632 | -€14,854 | -84.9% |
| Total equity and liabilities | 10/49 | €423,418 | €325,347 | -€98,072 | -23.2% |
| Equity | 10/15 | €20,508 | €30,455 | +€9,947 | +48.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €11,855 | +€9,995 | +537% |
| Distributable reserves | 133 | €1,860 | €11,855 | +€9,995 | +537% |
| Profit (loss) carried forward | 14 | €48 | €0 | -€48 | -100% |
| Amounts payable | 17/49 | €402,911 | €294,892 | -€108,019 | -26.8% |
| Amounts payable after more than one year | 17 | - | €15,022 | +€15,022 | |
| Financial debts | 170/4 | - | €15,022 | +€15,022 | |
| Amounts payable within one year | 42/48 | €380,911 | €263,870 | -€117,041 | -30.7% |
| Current portion of amounts payable after more than one year | 42 | - | €6,060 | +€6,060 | |
| Trade debts | 44 | €61,455 | €107,417 | +€45,962 | +74.8% |
| Suppliers | 440/4 | €61,455 | €107,417 | +€45,962 | +74.8% |
| Advances received on contracts in progress | 46 | - | €205 | +€205 | |
| Taxes, remuneration and social security | 45 | €135,969 | €80,349 | -€55,620 | -40.9% |
| Taxes | 450/3 | €84,794 | €25,831 | -€58,963 | -69.5% |
| Remuneration and social security | 454/9 | €51,174 | €54,518 | +€3,344 | +6.5% |
| Other amounts payable | 47/48 | €183,487 | €69,839 | -€113,648 | -61.9% |
| Accrued charges and deferred income | 492/3 | €22,000 | €16,000 | -€6,000 | -27.3% |
| Remuneration, social security and pensions | 62 | €524,818 | €525,400 | +€582 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,545 | €20,003 | +€1,458 | +7.9% |
| Other operating charges | 640/8 | €5,235 | €6,025 | +€790 | +15.1% |
| Gross operating margin | 9900 | €803,685 | €579,216 | -€224,469 | -27.9% |
| Operating profit (loss) | 9901 | €255,089 | €27,789 | -€227,299 | -89.1% |
| Financial income | 75/76B | €1,524 | €2,286 | +€762 | +50.0% |
| Recurring financial income | 75 | €1,524 | €2,286 | +€762 | +50.0% |
| Financial charges | 65/66B | €7,214 | €11,072 | +€3,858 | +53.5% |
| Recurring financial charges | 65 | €7,214 | €11,072 | +€3,858 | +53.5% |
| Profit (loss) for the period before taxes | 9903 | €249,399 | €19,004 | -€230,395 | -92.4% |
| Income taxes | 67/77 | €60,003 | €9,056 | -€50,947 | -84.9% |
| Profit (loss) for the period | 9904 | €189,395 | €9,947 | -€179,448 | -94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €189,395 | €9,947 | -€179,448 | -94.7% |
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 24 October 2026 via checked.be.