KNIFELINE: 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.
KNIFELINE
Largest movements
- Receivables within one year -€39,086
down €39,086 (-11.7%), from €335,126 to €296,039
of which Trade receivables: -€30,976
- Stocks and contracts +€37,108
up €37,108 (+24.4%), from €152,000 to €189,108
- Tangible fixed assets -€11,654
down €11,654 (-8.8%), from €132,408 to €120,754
of which Land and buildings: -€12,328
- Trade debts -€82,834
down €82,834 (-70.9%), from €116,788 to €33,954
- Reserves +€57,993
up €57,993 (+17.0%), from €340,793 to €398,786
- Short-term financial debts +€55,000
up €55,000 (+220%), from €25,000 to €80,000
- Other debts -€41,658
down €41,658 (-100%), from €41,658 to €0
- Debts after one year -€16,339
down €16,339 (-20.4%), from €79,953 to €63,614
- Taxes +€9,538
up €9,538 (+33.6%), from €28,371 to €37,909
- Write-downs -€7,830
down €7,830, from €3,915 to -€3,915
- Other operating charges +€6,406
up €6,406 (+549%), from €1,167 to €7,573
- Financial charges +€4,430
up €4,430 (+55.2%), from €8,018 to €12,448
- Depreciation +€3,987
up €3,987 (+25.8%), from €15,479 to €19,466
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 | €663,790 | €650,675 | -€13,116 | -2.0% |
| Fixed assets | 21/28 | €132,408 | €120,754 | -€11,654 | -8.8% |
| Tangible fixed assets | 22/27 | €132,408 | €120,754 | -€11,654 | -8.8% |
| Land and buildings | 22 | €109,007 | €96,678 | -€12,328 | -11.3% |
| Plant, machinery and equipment | 23 | €19,620 | €20,801 | +€1,181 | +6.0% |
| Furniture and vehicles | 24 | €3,782 | €3,275 | -€507 | -13.4% |
| Current assets | 29/58 | €531,382 | €529,920 | -€1,462 | -0.3% |
| Stocks and contracts in progress | 3 | €152,000 | €189,108 | +€37,108 | +24.4% |
| Stocks | 30/36 | €152,000 | €189,108 | +€37,108 | +24.4% |
| Amounts receivable within one year | 40/41 | €335,126 | €296,039 | -€39,086 | -11.7% |
| Trade receivables | 40 | €121,580 | €90,604 | -€30,976 | -25.5% |
| Other amounts receivable | 41 | €213,546 | €205,435 | -€8,111 | -3.8% |
| Cash at bank and in hand | 54/58 | €29,925 | €31,610 | +€1,685 | +5.6% |
| Deferred charges and accrued income | 490/1 | €14,331 | €13,162 | -€1,169 | -8.2% |
| Total equity and liabilities | 10/49 | €663,790 | €650,675 | -€13,116 | -2.0% |
| Equity | 10/15 | €359,393 | €417,386 | +€57,993 | +16.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €340,793 | €398,786 | +€57,993 | +17.0% |
| Distributable reserves | 133 | €340,793 | €398,786 | +€57,993 | +17.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €304,398 | €233,289 | -€71,109 | -23.4% |
| Amounts payable after more than one year | 17 | €79,953 | €63,614 | -€16,339 | -20.4% |
| Financial debts | 170/4 | €79,953 | €63,614 | -€16,339 | -20.4% |
| Amounts payable within one year | 42/48 | €224,445 | €169,675 | -€54,770 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | €15,671 | €16,339 | +€668 | +4.3% |
| Financial debts | 43 | €25,000 | €80,000 | +€55,000 | +220% |
| Credit institutions | 430/8 | €25,000 | €80,000 | +€55,000 | +220% |
| Trade debts | 44 | €116,788 | €33,954 | -€82,834 | -70.9% |
| Suppliers | 440/4 | €116,788 | €33,954 | -€82,834 | -70.9% |
| Taxes, remuneration and social security | 45 | €25,328 | €39,382 | +€14,054 | +55.5% |
| Taxes | 450/3 | €13,521 | €27,691 | +€14,171 | +105% |
| Remuneration and social security | 454/9 | €11,807 | €11,691 | -€116 | -1.0% |
| Other amounts payable | 47/48 | €41,658 | €0 | -€41,658 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €43,364 | €46,173 | +€2,809 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,479 | €19,466 | +€3,987 | +25.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,915 | -€3,915 | -€7,830 | |
| Other operating charges | 640/8 | €1,167 | €7,573 | +€6,406 | +549% |
| Non-recurring operating charges | 66A | - | €716 | +€716 | |
| Gross operating margin | 9900 | €168,949 | €172,441 | +€3,492 | +2.1% |
| Operating profit (loss) | 9901 | €105,024 | €102,429 | -€2,595 | -2.5% |
| Financial income | 75/76B | €12,481 | €12,378 | -€103 | -0.8% |
| Recurring financial income | 75 | €12,481 | €12,378 | -€103 | -0.8% |
| Financial charges | 65/66B | €8,018 | €12,448 | +€4,430 | +55.2% |
| Recurring financial charges | 65 | €8,018 | €12,448 | +€4,430 | +55.2% |
| Profit (loss) for the period before taxes | 9903 | €109,486 | €102,359 | -€7,128 | -6.5% |
| Income taxes | 67/77 | €28,371 | €37,909 | +€9,538 | +33.6% |
| Profit (loss) for the period | 9904 | €81,116 | €64,450 | -€16,666 | -20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €81,116 | €64,450 | -€16,666 | -20.5% |
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 20 October 2026 via checked.be.