KRECO: what changed
Two fiscal 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.
KRECO
Largest movements
- Cash +€278,305
up €278,305 (+182.4%), from €152,584 to €430,889
mainly Net result for the year (+€327,902) and Trade debts (+€239,547)
- Tangible fixed assets +€145,488
up €145,488 (+32.8%), from €443,274 to €588,762
of which Plant, machinery and equipment: +€187,442
- Receivables within one year +€134,672
up €134,672 (+5.8%), from €2.3m to €2.5m
of which Trade receivables: +€252,727
- Profit (loss) carried forward +€327,902
up €327,902 (+53.3%), from €615,316 to €943,219
- Trade debts +€239,547
up €239,547 (+39.1%), from €612,704 to €852,251
- Debts after one year -€65,337
down €65,337 (-14.4%), from €452,277 to €386,940
- Short-term financial debts +€64,167
up €64,167 (+160.4%), from €40,000 to €104,167
- Gross operating margin +€265,774
up €265,774 (+52.2%), from €509,015 to €774,789
- Staff costs +€100,302
up €100,302 (+148.7%), from €67,440 to €167,742
- Provisions -€94,646
down €94,646 (-79.9%), from €118,403 to €23,757
- Taxes +€52,118
up €52,118 (+95.0%), from €54,849 to €106,967
- Other operating charges +€18,666
up €18,666 (+76.2%), from €24,491 to €43,157
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.
Cash bridge derived
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 | €2,949,980 | €3,512,217 | +€562,236 | +19.1% |
| Fixed assets | 21/28 | €450,358 | €589,909 | +€139,551 | +31.0% |
| Intangible fixed assets | 21 | €7,084 | €1,147 | -€5,937 | -83.8% |
| Tangible fixed assets | 22/27 | €443,274 | €588,762 | +€145,488 | +32.8% |
| Plant, machinery and equipment | 23 | €72,891 | €260,333 | +€187,442 | +257.2% |
| Furniture and vehicles | 24 | €10,785 | €20,429 | +€9,644 | +89.4% |
| Other tangible fixed assets | 26 | €359,598 | €308,000 | -€51,598 | -14.3% |
| Current assets | 29/58 | €2,499,622 | €2,922,307 | +€422,685 | +16.9% |
| Amounts receivable within one year | 40/41 | €2,339,111 | €2,473,784 | +€134,672 | +5.8% |
| Trade receivables | 40 | €451,919 | €704,646 | +€252,727 | +55.9% |
| Other amounts receivable | 41 | €1,887,193 | €1,769,138 | -€118,055 | -6.3% |
| Cash at bank and in hand | 54/58 | €152,584 | €430,889 | +€278,305 | +182.4% |
| Deferred charges and accrued income | 490/1 | €7,927 | €17,635 | +€9,708 | +122.5% |
| Total equity and liabilities | 10/49 | €2,949,980 | €3,512,217 | +€562,236 | +19.1% |
| Equity | 10/15 | €683,527 | €1,011,429 | +€327,902 | +48.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,210 | €6,210 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €10 | €10 | = | 0.0% |
| Profit (loss) carried forward | 14 | €615,316 | €943,219 | +€327,902 | +53.3% |
| Provisions and deferred taxes | 16 | €1,031,136 | €1,054,893 | +€23,757 | +2.3% |
| Provisions for liabilities and charges | 160/5 | €1,031,136 | €1,054,893 | +€23,757 | +2.3% |
| Major repairs and maintenance | 162 | €1,031,136 | €1,054,893 | +€23,757 | +2.3% |
| Amounts payable | 17/49 | €1,235,318 | €1,445,895 | +€210,577 | +17.0% |
| Amounts payable after more than one year | 17 | €452,277 | €386,940 | -€65,337 | -14.4% |
| Financial debts | 170/4 | €452,277 | €386,940 | -€65,337 | -14.4% |
| Amounts payable within one year | 42/48 | €745,942 | €1,055,609 | +€309,668 | +41.5% |
| Current portion of amounts payable after more than one year | 42 | €64,482 | €65,337 | +€855 | +1.3% |
| Financial debts | 43 | €40,000 | €104,167 | +€64,167 | +160.4% |
| Credit institutions | 430/8 | €40,000 | €104,167 | +€64,167 | +160.4% |
| Trade debts | 44 | €612,704 | €852,251 | +€239,547 | +39.1% |
| Suppliers | 440/4 | €612,704 | €852,251 | +€239,547 | +39.1% |
| Taxes, remuneration and social security | 45 | €16,827 | €5,390 | -€11,438 | -68.0% |
| Taxes | 450/3 | €14,849 | €5,390 | -€9,460 | -63.7% |
| Remuneration and social security | 454/9 | €1,978 | €0 | -€1,978 | -100.0% |
| Other amounts payable | 47/48 | €11,928 | €28,465 | +€16,536 | +138.6% |
| Accrued charges and deferred income | 492/3 | €37,099 | €3,346 | -€33,753 | -91.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €67,440 | €167,742 | +€100,302 | +148.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,980 | €113,452 | +€2,472 | +2.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €118,403 | €23,757 | -€94,646 | -79.9% |
| Other operating charges | 640/8 | €24,491 | €43,157 | +€18,666 | +76.2% |
| Gross operating margin | 9900 | €509,015 | €774,789 | +€265,774 | +52.2% |
| Operating profit (loss) | 9901 | €187,701 | €426,681 | +€238,980 | +127.3% |
| Financial income | 75/76B | €24,426 | €18,433 | -€5,993 | -24.5% |
| Recurring financial income | 75 | €24,426 | €18,433 | -€5,993 | -24.5% |
| Financial charges | 65/66B | €11,074 | €10,245 | -€829 | -7.5% |
| Recurring financial charges | 65 | €11,074 | €10,245 | -€829 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €201,053 | €434,869 | +€233,816 | +116.3% |
| Income taxes | 67/77 | €54,849 | €106,967 | +€52,118 | +95.0% |
| Profit (loss) for the period | 9904 | €146,204 | €327,902 | +€181,699 | +124.3% |
| Profit (loss) for the period to be appropriated | 9905 | €146,204 | €327,902 | +€181,699 | +124.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.