KNOP2: 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.
KNOP2
Largest movements
- Cash +€194,766
up €194,766 (+50.1%), from €389,125 to €583,891
mainly Net result for the year (+€310,943) and Current investments (+€145,364)
- Current investments -€145,364
down €145,364 (-34.7%), from €418,758 to €273,393
- Tangible fixed assets -€65,928
down €65,928 (-11.2%), from €589,181 to €523,252
of which Land and buildings: -€71,340
- Stocks and contracts -€50,300
down €50,300 (-55.0%), from €91,500 to €41,200
- Debts after one year -€65,189
down €65,189 (-40.3%), from €161,938 to €96,749
- Reserves -€32,384
down €32,384 (-1.8%), from €1.8m to €1.8m
- Tax, wage and social debts +€22,747
up €22,747 (+46.8%), from €48,557 to €71,303
of which Remuneration and social security: +€15,715
- Financial income +€102,888
up €102,888 (+528%), from €19,474 to €122,362
- Gross operating margin +€42,016
up €42,016 (+5.4%), from €776,696 to €818,712
- Taxes +€33,535
up €33,535 (+44.6%), from €75,140 to €108,675
- Staff costs -€28,535
down €28,535 (-6.9%), from €416,024 to €387,489
- Depreciation +€11,894
up €11,894 (+11.9%), from €100,134 to €112,028
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 | €2,254,692 | €2,189,277 | -€65,416 | -2.9% |
| Fixed assets | 21/28 | €589,844 | €523,916 | -€65,928 | -11.2% |
| Tangible fixed assets | 22/27 | €589,181 | €523,252 | -€65,928 | -11.2% |
| Land and buildings | 22 | €462,171 | €390,830 | -€71,340 | -15.4% |
| Plant, machinery and equipment | 23 | €6,115 | €11,549 | +€5,434 | +88.9% |
| Furniture and vehicles | 24 | €120,895 | €120,873 | -€22 | 0.0% |
| Financial fixed assets | 28 | €664 | €664 | = | 0.0% |
| Current assets | 29/58 | €1,664,848 | €1,665,361 | +€513 | 0.0% |
| Stocks and contracts in progress | 3 | €91,500 | €41,200 | -€50,300 | -55.0% |
| Stocks | 30/36 | €91,500 | €41,200 | -€50,300 | -55.0% |
| Amounts receivable within one year | 40/41 | €728,910 | €712,762 | -€16,148 | -2.2% |
| Trade receivables | 40 | €211,765 | €279,983 | +€68,218 | +32.2% |
| Other amounts receivable | 41 | €517,145 | €432,779 | -€84,366 | -16.3% |
| Current investments | 50/53 | €418,758 | €273,393 | -€145,364 | -34.7% |
| Cash at bank and in hand | 54/58 | €389,125 | €583,891 | +€194,766 | +50.1% |
| Deferred charges and accrued income | 490/1 | €36,556 | €54,114 | +€17,558 | +48.0% |
| Total equity and liabilities | 10/49 | €2,254,692 | €2,189,277 | -€65,416 | -2.9% |
| Equity | 10/15 | €1,863,011 | €1,830,626 | -€32,384 | -1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,844,411 | €1,812,026 | -€32,384 | -1.8% |
| Distributable reserves | 133 | €1,844,411 | €1,812,026 | -€32,384 | -1.8% |
| Amounts payable | 17/49 | €391,682 | €358,650 | -€33,031 | -8.4% |
| Amounts payable after more than one year | 17 | €161,938 | €96,749 | -€65,189 | -40.3% |
| Financial debts | 170/4 | €161,938 | €96,749 | -€65,189 | -40.3% |
| Amounts payable within one year | 42/48 | €228,598 | €261,901 | +€33,304 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €62,729 | €65,189 | +€2,460 | +3.9% |
| Trade debts | 44 | €107,488 | €111,307 | +€3,818 | +3.6% |
| Suppliers | 440/4 | €107,488 | €111,307 | +€3,818 | +3.6% |
| Advances received on contracts in progress | 46 | €8,916 | €13,146 | +€4,230 | +47.4% |
| Taxes, remuneration and social security | 45 | €48,557 | €71,303 | +€22,747 | +46.8% |
| Taxes | 450/3 | €34,688 | €41,720 | +€7,032 | +20.3% |
| Remuneration and social security | 454/9 | €13,869 | €29,584 | +€15,715 | +113% |
| Other amounts payable | 47/48 | €908 | €957 | +€48 | +5.3% |
| Accrued charges and deferred income | 492/3 | €1,146 | - | -€1,146 | |
| Remuneration, social security and pensions | 62 | €416,024 | €387,489 | -€28,535 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,134 | €112,028 | +€11,894 | +11.9% |
| Other operating charges | 640/8 | €19,743 | €11,345 | -€8,399 | -42.5% |
| Gross operating margin | 9900 | €776,696 | €818,712 | +€42,016 | +5.4% |
| Operating profit (loss) | 9901 | €240,794 | €307,850 | +€67,056 | +27.8% |
| Financial income | 75/76B | €19,474 | €122,362 | +€102,888 | +528% |
| Recurring financial income | 75 | €19,474 | €122,362 | +€102,888 | +528% |
| Financial charges | 65/66B | €13,845 | €10,594 | -€3,251 | -23.5% |
| Recurring financial charges | 65 | €13,845 | €10,594 | -€3,251 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €246,424 | €419,618 | +€173,195 | +70.3% |
| Income taxes | 67/77 | €75,140 | €108,675 | +€33,535 | +44.6% |
| Profit (loss) for the period | 9904 | €171,284 | €310,943 | +€139,660 | +81.5% |
| Profit (loss) for the period to be appropriated | 9905 | €171,284 | €310,943 | +€139,660 | +81.5% |
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 14 October 2026 via checked.be.