KRW: 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.
KRW
Largest movements
- Cash -€152,138
down €152,138 (-52.4%), from €290,106 to €137,968
mainly Stocks and contracts (-€110,564) and Receivables within one year (-€85,129)
- Stocks and contracts +€110,564
up €110,564 (+402%), from €27,500 to €138,064
- Receivables within one year +€85,129
up €85,129 (+391%), from €21,757 to €106,886
of which Other amounts receivable: +€85,129
- Tangible fixed assets -€11,600
down €11,600 (-21.1%), from €55,084 to €43,484
- Reserves +€54,090
up €54,090 (+14.1%), from €383,237 to €437,327
- Other debts -€37,558
down €37,558 (-100%), from €37,558 to €0
- Tax, wage and social debts +€11,130
up €11,130 (+16.4%), from €67,939 to €79,068
- Gross operating margin -€186,338
down €186,338 (-68.9%), from €270,269 to €83,931
- Taxes -€48,831
down €48,831 (-70.9%), from €68,834 to €20,003
- Depreciation +€8,684
up €8,684 (+298%), from €2,916 to €11,600
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 | €494,447 | €525,552 | +€31,105 | +6.3% |
| Fixed assets | 21/28 | €55,084 | €43,484 | -€11,600 | -21.1% |
| Tangible fixed assets | 22/27 | €55,084 | €43,484 | -€11,600 | -21.1% |
| Furniture and vehicles | 24 | €55,084 | €43,484 | -€11,600 | -21.1% |
| Current assets | 29/58 | €439,363 | €482,068 | +€42,705 | +9.7% |
| Stocks and contracts in progress | 3 | €27,500 | €138,064 | +€110,564 | +402% |
| Stocks | 30/36 | €27,500 | €138,064 | +€110,564 | +402% |
| Amounts receivable within one year | 40/41 | €21,757 | €106,886 | +€85,129 | +391% |
| Trade receivables | 40 | €18,150 | €18,150 | = | 0.0% |
| Other amounts receivable | 41 | €3,607 | €88,736 | +€85,129 | +2,360% |
| Current investments | 50/53 | €100,000 | €99,150 | -€850 | -0.9% |
| Cash at bank and in hand | 54/58 | €290,106 | €137,968 | -€152,138 | -52.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €494,447 | €525,552 | +€31,105 | +6.3% |
| Equity | 10/15 | €383,237 | €437,327 | +€54,090 | +14.1% |
| Reserves | 13 | €383,237 | €437,327 | +€54,090 | +14.1% |
| Distributable reserves | 133 | €383,237 | €437,327 | +€54,090 | +14.1% |
| Amounts payable | 17/49 | €111,210 | €88,225 | -€22,985 | -20.7% |
| Amounts payable within one year | 42/48 | €110,034 | €87,826 | -€22,209 | -20.2% |
| Trade debts | 44 | €4,538 | €8,757 | +€4,220 | +93.0% |
| Suppliers | 440/4 | €4,538 | €8,757 | +€4,220 | +93.0% |
| Taxes, remuneration and social security | 45 | €67,939 | €79,068 | +€11,130 | +16.4% |
| Taxes | 450/3 | €67,939 | €79,068 | +€11,130 | +16.4% |
| Other amounts payable | 47/48 | €37,558 | €0 | -€37,558 | -100% |
| Accrued charges and deferred income | 492/3 | €1,176 | €400 | -€777 | -66.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,916 | €11,600 | +€8,684 | +298% |
| Other operating charges | 640/8 | €715 | €520 | -€195 | -27.3% |
| Gross operating margin | 9900 | €270,269 | €83,931 | -€186,338 | -68.9% |
| Operating profit (loss) | 9901 | €266,638 | €71,811 | -€194,827 | -73.1% |
| Financial income | 75/76B | €3,350 | €3,360 | +€10 | +0.3% |
| Recurring financial income | 75 | €3,350 | €3,360 | +€10 | +0.3% |
| Financial charges | 65/66B | €1,959 | €1,078 | -€881 | -45.0% |
| Recurring financial charges | 65 | €1,959 | €1,078 | -€881 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | €268,029 | €74,093 | -€193,936 | -72.4% |
| Income taxes | 67/77 | €68,834 | €20,003 | -€48,831 | -70.9% |
| Profit (loss) for the period | 9904 | €199,195 | €54,090 | -€145,105 | -72.8% |
| Profit (loss) for the period to be appropriated | 9905 | €199,195 | €54,090 | -€145,105 | -72.8% |
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 28 October 2026 via checked.be.