KNU INVEST: 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.
KNU INVEST
Largest movements
- Cash +€9,376
up €9,376 (+134%), from €7,009 to €16,385
mainly Net result for the year (+€65,058) and Short-term financial debts (+€5,007)
- Debts after one year -€65,382
down €65,382 (-25.7%), from €254,616 to €189,234
of which Financial debts: -€119,882
- Reserves +€65,050
up €65,050 (+82.0%), from €79,360 to €144,410
- Short-term financial debts +€5,007
up €5,007 (+49.9%), from €10,031 to €15,038
- Gross operating margin +€49,028
up €49,028 (+97.6%), from €50,253 to €99,281
- Taxes +€15,939
up €15,939 (+208%), from €7,676 to €23,615
- Financial charges -€8,093
down €8,093 (-55.0%), from €14,707 to €6,614
of which Non-recurring financial charges: -€5,167
- Depreciation -€5,482
no longer reported in 2025 (was €5,482)
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 | €436,997 | €443,371 | +€6,374 | +1.5% |
| Fixed assets | 21/28 | €383,347 | €380,348 | -€2,999 | -0.8% |
| Tangible fixed assets | 22/27 | €2,999 | - | -€2,999 | |
| Furniture and vehicles | 24 | €2,999 | - | -€2,999 | |
| Financial fixed assets | 28 | €380,348 | €380,348 | +€0 | 0.0% |
| Current assets | 29/58 | €53,650 | €63,023 | +€9,373 | +17.5% |
| Amounts receivable after more than one year | 29 | €31,980 | €31,980 | = | 0.0% |
| Trade receivables | 290 | €31,980 | €31,980 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,661 | €14,658 | -€3 | 0.0% |
| Other amounts receivable | 41 | €14,661 | €14,658 | -€3 | 0.0% |
| Cash at bank and in hand | 54/58 | €7,009 | €16,385 | +€9,376 | +134% |
| Total equity and liabilities | 10/49 | €436,997 | €443,371 | +€6,374 | +1.5% |
| Equity | 10/15 | €93,862 | €158,920 | +€65,058 | +69.3% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Capital | 10 | €14,260 | €12,400 | -€1,860 | -13.0% |
| Issued capital | 100 | €14,260 | €12,400 | -€1,860 | -13.0% |
| Contributions outside capital | 11 | - | €1,860 | +€1,860 | |
| Other | 1109/19 | - | €1,860 | +€1,860 | |
| Reserves | 13 | €79,360 | €144,410 | +€65,050 | +82.0% |
| Distributable reserves | 133 | €79,360 | €144,410 | +€65,050 | +82.0% |
| Profit (loss) carried forward | 14 | €242 | €250 | +€8 | +3.5% |
| Amounts payable | 17/49 | €343,135 | €284,451 | -€58,684 | -17.1% |
| Amounts payable after more than one year | 17 | €254,616 | €189,234 | -€65,382 | -25.7% |
| Financial debts | 170/4 | €254,616 | €134,734 | -€119,882 | -47.1% |
| Other amounts payable | 178/9 | - | €54,500 | +€54,500 | |
| Amounts payable within one year | 42/48 | €88,519 | €95,217 | +€6,698 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €66,063 | €65,388 | -€675 | -1.0% |
| Financial debts | 43 | €10,031 | €15,038 | +€5,007 | +49.9% |
| Credit institutions | 430/8 | €10,031 | €15,038 | +€5,007 | +49.9% |
| Taxes, remuneration and social security | 45 | €12,297 | €12,981 | +€684 | +5.6% |
| Taxes | 450/3 | €12,297 | €12,981 | +€684 | +5.6% |
| Other amounts payable | 47/48 | €128 | €1,810 | +€1,682 | +1,314% |
| Non-recurring operating income | 76A | - | €21,487 | +€21,487 | |
| Remuneration, social security and pensions | 62 | €3,495 | €3,531 | +€36 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,482 | - | -€5,482 | |
| Other operating charges | 640/8 | €1,007 | €605 | -€402 | -39.9% |
| Gross operating margin | 9900 | €50,253 | €99,281 | +€49,028 | +97.6% |
| Operating profit (loss) | 9901 | €40,269 | €95,145 | +€54,876 | +136% |
| Financial income | 75/76B | - | €142 | +€142 | |
| Recurring financial income | 75 | - | €142 | +€142 | |
| Financial charges | 65/66B | €14,707 | €6,614 | -€8,093 | -55.0% |
| Recurring financial charges | 65 | €9,540 | €6,614 | -€2,926 | -30.7% |
| Non-recurring financial charges | 66B | €5,167 | - | -€5,167 | |
| Profit (loss) for the period before taxes | 9903 | €25,562 | €88,673 | +€63,111 | +247% |
| Income taxes | 67/77 | €7,676 | €23,615 | +€15,939 | +208% |
| Profit (loss) for the period | 9904 | €17,886 | €65,058 | +€47,172 | +264% |
| Profit (loss) for the period to be appropriated | 9905 | €17,886 | €65,058 | +€47,172 | +264% |
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 1 November 2026 via checked.be.