N & K GROUP: 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.
N & K GROUP
Largest movements
- Tangible fixed assets -€211,712
down €211,712 (-51.5%), from €410,815 to €199,103
of which Land and buildings: -€198,885
- Receivables within one year -€25,910
down €25,910 (-99.8%), from €25,963 to €53
of which Other amounts receivable: -€16,358
- Cash -€19,217
no longer reported in 2025 (was €19,217)
mainly Debts after one year (-€162,928) and Net result for the year (-€67,264)
- Financial fixed assets -€9,000
no longer reported in 2025 (was €9,000)
- Debts after one year -€162,928
down €162,928 (-50.4%), from €323,297 to €160,369
- Reserves -€67,264
down €67,264 (-89.0%), from €75,562 to €8,298
- Trade debts -€35,921
no longer reported in 2025 (was €35,921)
- Current portion of long-term debt -€16,075
down €16,075 (-75.4%), from €21,326 to €5,252
- Other debts +€15,312
up €15,312 (+429%), from €3,570 to €18,882
- Gross operating margin +€49,573
up €49,573 (+60.4%), from -€82,079 to -€32,506
- Staff costs -€12,523
no longer reported in 2025 (was €12,523)
- Depreciation -€6,365
down €6,365 (-53.1%), from €11,985 to €5,621
- Financial charges -€5,021
down €5,021 (-23.2%), from €21,604 to €16,583
- Financial income -€3,890
down €3,890 (-97.7%), from €3,981 to €91
of which Financial income: -€3,004
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 | €464,994 | €199,155 | -€265,839 | -57.2% |
| Fixed assets | 21/28 | €419,815 | €199,103 | -€220,712 | -52.6% |
| Tangible fixed assets | 22/27 | €410,815 | €199,103 | -€211,712 | -51.5% |
| Land and buildings | 22 | €395,986 | €197,101 | -€198,885 | -50.2% |
| Plant, machinery and equipment | 23 | €3,092 | - | -€3,092 | |
| Furniture and vehicles | 24 | €11,737 | €2,002 | -€9,735 | -82.9% |
| Financial fixed assets | 28 | €9,000 | - | -€9,000 | |
| Current assets | 29/58 | €45,180 | €53 | -€45,127 | -99.9% |
| Amounts receivable within one year | 40/41 | €25,963 | €53 | -€25,910 | -99.8% |
| Trade receivables | 40 | €9,552 | - | -€9,552 | |
| Other amounts receivable | 41 | €16,411 | €53 | -€16,358 | -99.7% |
| Cash at bank and in hand | 54/58 | €19,217 | - | -€19,217 | |
| Total equity and liabilities | 10/49 | €464,994 | €199,155 | -€265,839 | -57.2% |
| Equity | 10/15 | €80,562 | €13,298 | -€67,264 | -83.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €75,562 | €8,298 | -€67,264 | -89.0% |
| Distributable reserves | 133 | €75,562 | €8,298 | -€67,264 | -89.0% |
| Amounts payable | 17/49 | €384,432 | €185,857 | -€198,575 | -51.7% |
| Amounts payable after more than one year | 17 | €323,297 | €160,369 | -€162,928 | -50.4% |
| Financial debts | 170/4 | €323,297 | €160,369 | -€162,928 | -50.4% |
| Amounts payable within one year | 42/48 | €61,135 | €25,489 | -€35,647 | -58.3% |
| Current portion of amounts payable after more than one year | 42 | €21,326 | €5,252 | -€16,075 | -75.4% |
| Trade debts | 44 | €35,921 | - | -€35,921 | |
| Suppliers | 440/4 | €35,921 | - | -€35,921 | |
| Taxes, remuneration and social security | 45 | €318 | €1,355 | +€1,038 | +327% |
| Taxes | 450/3 | €318 | €1,355 | +€1,038 | +327% |
| Other amounts payable | 47/48 | €3,570 | €18,882 | +€15,312 | +429% |
| Remuneration, social security and pensions | 62 | €12,523 | - | -€12,523 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,985 | €5,621 | -€6,365 | -53.1% |
| Other operating charges | 640/8 | €4,530 | €1,554 | -€2,976 | -65.7% |
| Non-recurring operating charges | 66A | €23,155 | €11,091 | -€12,064 | -52.1% |
| Gross operating margin | 9900 | -€82,079 | -€32,506 | +€49,573 | +60.4% |
| Operating profit (loss) | 9901 | -€134,272 | -€50,772 | +€83,500 | +62.2% |
| Financial income | 75/76B | €3,981 | €91 | -€3,890 | -97.7% |
| Recurring financial income | 75 | €3,095 | €91 | -€3,004 | -97.1% |
| Non-recurring financial income | 76B | €886 | - | -€886 | |
| Financial charges | 65/66B | €21,604 | €16,583 | -€5,021 | -23.2% |
| Recurring financial charges | 65 | €21,604 | €16,583 | -€5,021 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | -€151,895 | -€67,264 | +€84,631 | +55.7% |
| Income taxes | 67/77 | €318 | - | -€318 | |
| Profit (loss) for the period | 9904 | -€152,213 | -€67,264 | +€84,949 | +55.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€152,213 | -€67,264 | +€84,949 | +55.8% |
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 25 October 2026 via checked.be.