KRIS VOLKAERTS: 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.
KRIS VOLKAERTS
Largest movements
- Stocks and contracts +€2.0m
new in 2026: €2.0m
- Tangible fixed assets +€445,325
up €445,325 (+130%), from €342,592 to €787,917
of which Land and buildings: +€432,633
- Cash -€253,124
down €253,124 (-72.1%), from €350,847 to €97,722
mainly Stocks and contracts (-€2.0m) and Investment in fixed assets (net) (-€495,482)
- Receivables within one year -€121,091
down €121,091 (-72.2%), from €167,732 to €46,641
of which Other amounts receivable: -€157,208
- Receivables after one year -€70,937
down €70,937 (-8.1%), from €871,124 to €800,186
- Debts after one year +€1.7m
up €1.7m (+2,602%), from €65,000 to €1.8m
of which Financial debts: +€1.7m
- Current portion of long-term debt +€153,811
up €153,811, from €0 to €153,811
- Reserves +€105,783
up €105,783 (+5.6%), from €1.9m to €2.0m
- Other debts +€72,545
up €72,545 (+4,776%), from €1,519 to €74,064
- Gross operating margin -€349,820
down €349,820 (-48.6%), from €720,111 to €370,292
- Taxes -€120,607
down €120,607 (-51.4%), from €234,511 to €113,904
- Depreciation +€29,526
up €29,526 (+143%), from €20,631 to €50,157
- Financial income -€9,122
down €9,122 (-12.6%), from €72,447 to €63,325
- Other operating charges +€7,629
up €7,629 (+453%), from €1,685 to €9,314
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,018,454 | €4,011,355 | +€2.0m | +98.7% |
| Fixed assets | 21/28 | €345,072 | €790,397 | +€445,325 | +129% |
| Tangible fixed assets | 22/27 | €342,592 | €787,917 | +€445,325 | +130% |
| Land and buildings | 22 | €293,253 | €725,886 | +€432,633 | +148% |
| Furniture and vehicles | 24 | €40,139 | €52,831 | +€12,692 | +31.6% |
| Other tangible fixed assets | 26 | €9,200 | €9,200 | = | 0.0% |
| Financial fixed assets | 28 | €2,480 | €2,480 | = | 0.0% |
| Current assets | 29/58 | €1,673,382 | €3,220,958 | +€1.5m | +92.5% |
| Amounts receivable after more than one year | 29 | €871,124 | €800,186 | -€70,937 | -8.1% |
| Other amounts receivable | 291 | €871,124 | €800,186 | -€70,937 | -8.1% |
| Stocks and contracts in progress | 3 | - | €1,982,768 | +€2.0m | |
| Stocks | 30/36 | - | €1,982,768 | +€2.0m | |
| Amounts receivable within one year | 40/41 | €167,732 | €46,641 | -€121,091 | -72.2% |
| Trade receivables | 40 | €7,454 | €43,570 | +€36,117 | +485% |
| Other amounts receivable | 41 | €160,278 | €3,070 | -€157,208 | -98.1% |
| Current investments | 50/53 | €246,542 | €262,303 | +€15,761 | +6.4% |
| Cash at bank and in hand | 54/58 | €350,847 | €97,722 | -€253,124 | -72.1% |
| Deferred charges and accrued income | 490/1 | €37,138 | €31,338 | -€5,800 | -15.6% |
| Total equity and liabilities | 10/49 | €2,018,454 | €4,011,355 | +€2.0m | +98.7% |
| Equity | 10/15 | €1,881,137 | €1,999,320 | +€118,183 | +6.3% |
| Contributions | 10/11 | €6,000 | €18,400 | +€12,400 | +207% |
| Reserves | 13 | €1,875,137 | €1,980,920 | +€105,783 | +5.6% |
| Distributable reserves | 133 | €1,875,137 | €1,980,920 | +€105,783 | +5.6% |
| Profit (loss) carried forward | 14 | €0 | €1 | +€1 | |
| Amounts payable | 17/49 | €137,317 | €2,012,034 | +€1.9m | +1,365% |
| Amounts payable after more than one year | 17 | €65,000 | €1,756,474 | +€1.7m | +2,602% |
| Financial debts | 170/4 | €65,000 | €1,754,525 | +€1.7m | +2,599% |
| Other amounts payable | 178/9 | - | €1,949 | +€1,949 | |
| Amounts payable within one year | 42/48 | €69,116 | €255,561 | +€186,445 | +270% |
| Current portion of amounts payable after more than one year | 42 | €0 | €153,811 | +€153,811 | |
| Financial debts | 43 | €0 | €28 | +€28 | |
| Credit institutions | 430/8 | €0 | €28 | +€28 | |
| Trade debts | 44 | €15,053 | €5,348 | -€9,705 | -64.5% |
| Suppliers | 440/4 | €15,053 | €5,348 | -€9,705 | -64.5% |
| Taxes, remuneration and social security | 45 | €52,545 | €22,311 | -€30,234 | -57.5% |
| Taxes | 450/3 | €52,545 | €22,311 | -€30,234 | -57.5% |
| Other amounts payable | 47/48 | €1,519 | €74,064 | +€72,545 | +4,776% |
| Accrued charges and deferred income | 492/3 | €3,201 | €0 | -€3,201 | -100% |
| Non-recurring operating income | 76A | €0 | €18,000 | +€18,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,631 | €50,157 | +€29,526 | +143% |
| Other operating charges | 640/8 | €1,685 | €9,314 | +€7,629 | +453% |
| Gross operating margin | 9900 | €720,111 | €370,292 | -€349,820 | -48.6% |
| Operating profit (loss) | 9901 | €697,795 | €310,820 | -€386,975 | -55.5% |
| Financial income | 75/76B | €72,447 | €63,325 | -€9,122 | -12.6% |
| Recurring financial income | 75 | €72,447 | €63,325 | -€9,122 | -12.6% |
| Financial charges | 65/66B | €17,962 | €10,675 | -€7,287 | -40.6% |
| Recurring financial charges | 65 | €17,962 | €10,675 | -€7,287 | -40.6% |
| Profit (loss) for the period before taxes | 9903 | €752,280 | €363,470 | -€388,810 | -51.7% |
| Income taxes | 67/77 | €234,511 | €113,904 | -€120,607 | -51.4% |
| Profit (loss) for the period | 9904 | €517,769 | €249,566 | -€268,203 | -51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €517,769 | €249,566 | -€268,203 | -51.8% |
Source: filed annual accounts (NBB), financial years ended 31 May 2025 and 31 May 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.