NK MANAGEMENT: 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.
NK MANAGEMENT
Largest movements
- Cash +€32,158
up €32,158 (+234.4%), from €13,721 to €45,879
mainly Net result for the year (+€53,017) and Depreciation (+€9,521)
- Tangible fixed assets -€7,955
down €7,955 (-2.0%), from €392,954 to €384,999
of which Land and buildings: -€9,366
- Reserves +€53,017
up €53,017 (+74.5%), from €71,179 to €124,197
- Other debts -€26,113
down €26,113 (-53.4%), from €48,891 to €22,778
- Debts after one year -€10,717
down €10,717 (-3.9%), from €273,792 to €263,075
- Tax, wage and social debts +€7,957
up €7,957 (+31.1%), from €25,582 to €33,539
- Gross operating margin +€34,941
up €34,941 (+52.8%), from €66,193 to €101,135
- Taxes +€12,965
up €12,965 (+88.9%), from €14,576 to €27,541
- Depreciation -€9,652
down €9,652 (-50.3%), from €19,173 to €9,521
- Financial charges +€3,008
up €3,008 (+42.4%), from €7,092 to €10,100
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 | €461,503 | €487,376 | +€25,873 | +5.6% |
| Fixed assets | 21/28 | €392,954 | €384,999 | -€7,955 | -2.0% |
| Tangible fixed assets | 22/27 | €392,954 | €384,999 | -€7,955 | -2.0% |
| Land and buildings | 22 | €392,954 | €383,588 | -€9,366 | -2.4% |
| Plant, machinery and equipment | 23 | - | €1,411 | +€1,411 | |
| Current assets | 29/58 | €68,549 | €102,377 | +€33,828 | +49.3% |
| Amounts receivable within one year | 40/41 | €13,150 | €14,401 | +€1,251 | +9.5% |
| Trade receivables | 40 | €13,150 | €14,401 | +€1,251 | +9.5% |
| Current investments | 50/53 | €40,500 | €40,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,721 | €45,879 | +€32,158 | +234.4% |
| Deferred charges and accrued income | 490/1 | €1,179 | €1,597 | +€419 | +35.5% |
| Total equity and liabilities | 10/49 | €461,503 | €487,376 | +€25,873 | +5.6% |
| Equity | 10/15 | €100,838 | €153,855 | +€53,017 | +52.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €71,179 | €124,197 | +€53,017 | +74.5% |
| Distributable reserves | 133 | €71,179 | €124,197 | +€53,017 | +74.5% |
| Profit (loss) carried forward | 14 | €23,458 | €23,458 | = | 0.0% |
| Amounts payable | 17/49 | €360,665 | €333,521 | -€27,144 | -7.5% |
| Amounts payable after more than one year | 17 | €273,792 | €263,075 | -€10,717 | -3.9% |
| Financial debts | 170/4 | €273,792 | €263,075 | -€10,717 | -3.9% |
| Amounts payable within one year | 42/48 | €86,028 | €69,631 | -€16,397 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €11,188 | €11,593 | +€405 | +3.6% |
| Trade debts | 44 | €368 | €1,722 | +€1,354 | +368.3% |
| Suppliers | 440/4 | €368 | €1,722 | +€1,354 | +368.3% |
| Taxes, remuneration and social security | 45 | €25,582 | €33,539 | +€7,957 | +31.1% |
| Taxes | 450/3 | €25,582 | €33,539 | +€7,957 | +31.1% |
| Other amounts payable | 47/48 | €48,891 | €22,778 | -€26,113 | -53.4% |
| Accrued charges and deferred income | 492/3 | €845 | €815 | -€31 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,173 | €9,521 | -€9,652 | -50.3% |
| Other operating charges | 640/8 | €1,656 | €1,838 | +€183 | +11.0% |
| Gross operating margin | 9900 | €66,193 | €101,135 | +€34,941 | +52.8% |
| Operating profit (loss) | 9901 | €45,365 | €89,776 | +€44,411 | +97.9% |
| Financial income | 75/76B | €1,105 | €883 | -€222 | -20.1% |
| Recurring financial income | 75 | €1,105 | €883 | -€222 | -20.1% |
| Financial charges | 65/66B | €7,092 | €10,100 | +€3,008 | +42.4% |
| Recurring financial charges | 65 | €7,092 | €10,100 | +€3,008 | +42.4% |
| Profit (loss) for the period before taxes | 9903 | €39,378 | €80,558 | +€41,181 | +104.6% |
| Income taxes | 67/77 | €14,576 | €27,541 | +€12,965 | +88.9% |
| Profit (loss) for the period | 9904 | €24,801 | €53,017 | +€28,216 | +113.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,801 | €53,017 | +€28,216 | +113.8% |
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 5 October 2026 via checked.be.