KWAK: 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.
KWAK
Largest movements
- Receivables within one year +€51,775
up €51,775 (+78.0%), from €66,407 to €118,182
of which Trade receivables: +€51,206
- Tangible fixed assets -€11,098
down €11,098 (-16.2%), from €68,469 to €57,371
of which Plant, machinery and equipment: -€12,835
- Cash -€8,339
down €8,339 (-72.5%), from €11,509 to €3,170
mainly Net result for the year (-€61,962) and Receivables within one year (-€51,775)
- Stocks and contracts +€4,887
up €4,887 (+20.8%), from €23,513 to €28,400
- Tax, wage and social debts +€73,078
up €73,078 (+24.9%), from €293,167 to €366,245
of which Remuneration and social security: +€52,071
- Debts after one year +€68,768
up €68,768 (+385.7%), from €17,828 to €86,596
- Profit (loss) carried forward -€61,962
down €61,962 (-12.0%), from -€517,310 to -€579,272
- Trade debts -€36,681
down €36,681 (-28.9%), from €126,955 to €90,274
- Current portion of long-term debt -€5,650
down €5,650 (-20.8%), from €27,127 to €21,477
- Staff costs +€141,939
up €141,939 (+26.1%), from €543,291 to €685,230
- Gross operating margin +€122,472
up €122,472 (+21.0%), from €583,042 to €705,514
- Financial charges +€41,060
up €41,060 (+815.8%), from €5,033 to €46,093
- Other operating charges +€13,478
up €13,478 (+371.5%), from €3,628 to €17,106
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €202,944 | €241,161 | +€38,217 | +18.8% |
| Fixed assets | 21/28 | €99,962 | €88,864 | -€11,098 | -11.1% |
| Tangible fixed assets | 22/27 | €68,469 | €57,371 | -€11,098 | -16.2% |
| Plant, machinery and equipment | 23 | €55,612 | €42,777 | -€12,835 | -23.1% |
| Furniture and vehicles | 24 | €12,857 | €14,594 | +€1,737 | +13.5% |
| Financial fixed assets | 28 | €31,493 | €31,493 | = | 0.0% |
| Current assets | 29/58 | €102,982 | €152,297 | +€49,315 | +47.9% |
| Stocks and contracts in progress | 3 | €23,513 | €28,400 | +€4,887 | +20.8% |
| Stocks | 30/36 | €23,513 | €28,400 | +€4,887 | +20.8% |
| Amounts receivable within one year | 40/41 | €66,407 | €118,182 | +€51,775 | +78.0% |
| Trade receivables | 40 | €59,020 | €110,226 | +€51,206 | +86.8% |
| Other amounts receivable | 41 | €7,387 | €7,956 | +€569 | +7.7% |
| Cash at bank and in hand | 54/58 | €11,509 | €3,170 | -€8,339 | -72.5% |
| Deferred charges and accrued income | 490/1 | €1,553 | €2,545 | +€992 | +63.9% |
| Total equity and liabilities | 10/49 | €202,944 | €241,161 | +€38,217 | +18.8% |
| Equity | 10/15 | -€454,918 | -€516,880 | -€61,962 | -13.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €392 | €392 | = | 0.0% |
| Non-distributable reserves | 130/1 | €392 | €392 | = | 0.0% |
| Reserves not available under the articles | 1311 | €392 | €392 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€517,310 | -€579,272 | -€61,962 | -12.0% |
| Amounts payable | 17/49 | €657,862 | €758,041 | +€100,179 | +15.2% |
| Amounts payable after more than one year | 17 | €17,828 | €86,596 | +€68,768 | +385.7% |
| Financial debts | 170/4 | €17,828 | €86,596 | +€68,768 | +385.7% |
| Amounts payable within one year | 42/48 | €640,034 | €671,445 | +€31,411 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €27,127 | €21,477 | -€5,650 | -20.8% |
| Financial debts | 43 | €20,417 | €20,413 | -€4 | 0.0% |
| Credit institutions | 430/8 | €20,417 | €20,413 | -€4 | 0.0% |
| Trade debts | 44 | €126,955 | €90,274 | -€36,681 | -28.9% |
| Suppliers | 440/4 | €126,955 | €90,274 | -€36,681 | -28.9% |
| Taxes, remuneration and social security | 45 | €293,167 | €366,245 | +€73,078 | +24.9% |
| Taxes | 450/3 | €96,388 | €117,395 | +€21,007 | +21.8% |
| Remuneration and social security | 454/9 | €196,779 | €248,850 | +€52,071 | +26.5% |
| Other amounts payable | 47/48 | €172,368 | €173,036 | +€668 | +0.4% |
| Non-recurring operating income | 76A | €959 | €7,240 | +€6,281 | +655.0% |
| Remuneration, social security and pensions | 62 | €543,291 | €685,230 | +€141,939 | +26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,359 | €17,595 | +€1,236 | +7.6% |
| Other operating charges | 640/8 | €3,628 | €17,106 | +€13,478 | +371.5% |
| Gross operating margin | 9900 | €583,042 | €705,514 | +€122,472 | +21.0% |
| Operating profit (loss) | 9901 | €19,764 | -€14,417 | -€34,181 | |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €5,033 | €46,093 | +€41,060 | +815.8% |
| Recurring financial charges | 65 | €5,033 | €46,093 | +€41,060 | +815.8% |
| Profit (loss) for the period before taxes | 9903 | €14,737 | -€60,510 | -€75,247 | |
| Income taxes | 67/77 | €1,278 | €1,452 | +€174 | +13.6% |
| Profit (loss) for the period | 9904 | €13,459 | -€61,962 | -€75,421 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,459 | -€61,962 | -€75,421 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.