‘T KLUSPROJECT: 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.
‘T KLUSPROJECT
Largest movements
- Receivables within one year -€42,571
down €42,571 (-50.2%), from €84,882 to €42,312
of which Trade receivables: -€43,783
- Stocks and contracts +€3,267
up €3,267 (+8.5%), from €38,522 to €41,788
of which Stocks: +€13,267
- Cash +€2,497
new in 2025: €2,497
mainly Receivables within one year (+€42,571) and Depreciation (+€5,774)
- Trade debts -€25,794
down €25,794 (-59.1%), from €43,627 to €17,833
- Short-term financial debts -€11,882
down €11,882 (-45.7%), from €26,023 to €14,141
- Debts after one year -€6,071
down €6,071 (-46.4%), from €13,095 to €7,024
- Reserves +€4,344
up €4,344 (+12.9%), from €33,720 to €38,065
of which Distributable reserves: +€4,344
- Tax, wage and social debts +€3,206
up €3,206 (+31.2%), from €10,288 to €13,494
of which Taxes: +€2,431
- Taxes -€5,563
down €5,563, from €5,000 to -€563
- Gross operating margin -€3,247
down €3,247 (-4.3%), from €74,987 to €71,741
- Other operating charges +€1,165
up €1,165 (+179.0%), from €651 to €1,816
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 | €143,005 | €107,021 | -€35,985 | -25.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €15,331 | €15,702 | +€371 | +2.4% |
| Tangible fixed assets | 22/27 | €15,331 | €15,702 | +€371 | +2.4% |
| Plant, machinery and equipment | 23 | €12,607 | €13,695 | +€1,088 | +8.6% |
| Furniture and vehicles | 24 | €2,724 | €2,007 | -€718 | -26.3% |
| Current assets | 29/58 | €127,674 | €91,319 | -€36,355 | -28.5% |
| Stocks and contracts in progress | 3 | €38,522 | €41,788 | +€3,267 | +8.5% |
| Stocks | 30/36 | €28,522 | €41,788 | +€13,267 | +46.5% |
| Contracts in progress | 37 | €10,000 | €0 | -€10,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €84,882 | €42,312 | -€42,571 | -50.2% |
| Trade receivables | 40 | €70,993 | €27,209 | -€43,783 | -61.7% |
| Other amounts receivable | 41 | €13,890 | €15,102 | +€1,213 | +8.7% |
| Cash at bank and in hand | 54/58 | - | €2,497 | +€2,497 | |
| Deferred charges and accrued income | 490/1 | €4,271 | €4,722 | +€452 | +10.6% |
| Total equity and liabilities | 10/49 | €143,005 | €107,021 | -€35,985 | -25.2% |
| Equity | 10/15 | €44,114 | €48,458 | +€4,344 | +9.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €33,720 | €38,065 | +€4,344 | +12.9% |
| Non-distributable reserves | 130/1 | €266 | €266 | = | 0.0% |
| Reserves not available under the articles | 1311 | €266 | €266 | = | 0.0% |
| Distributable reserves | 133 | €33,454 | €37,799 | +€4,344 | +13.0% |
| Profit (loss) carried forward | 14 | €4,194 | €4,194 | = | 0.0% |
| Amounts payable | 17/49 | €98,891 | €58,562 | -€40,329 | -40.8% |
| Amounts payable after more than one year | 17 | €13,095 | €7,024 | -€6,071 | -46.4% |
| Financial debts | 170/4 | €13,095 | €7,024 | -€6,071 | -46.4% |
| Amounts payable within one year | 42/48 | €85,797 | €51,538 | -€34,258 | -39.9% |
| Current portion of amounts payable after more than one year | 42 | €5,858 | €6,071 | +€213 | +3.6% |
| Financial debts | 43 | €26,023 | €14,141 | -€11,882 | -45.7% |
| Credit institutions | 430/8 | €26,023 | €14,141 | -€11,882 | -45.7% |
| Trade debts | 44 | €43,627 | €17,833 | -€25,794 | -59.1% |
| Suppliers | 440/4 | €43,627 | €17,833 | -€25,794 | -59.1% |
| Taxes, remuneration and social security | 45 | €10,288 | €13,494 | +€3,206 | +31.2% |
| Taxes | 450/3 | €2,065 | €4,496 | +€2,431 | +117.7% |
| Remuneration and social security | 454/9 | €8,223 | €8,998 | +€775 | +9.4% |
| Non-recurring operating income | 76A | €427 | €3,004 | +€2,577 | +603.0% |
| Remuneration, social security and pensions | 62 | €58,982 | €59,576 | +€593 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,188 | €5,774 | -€414 | -6.7% |
| Other operating charges | 640/8 | €651 | €1,816 | +€1,165 | +179.0% |
| Non-recurring operating charges | 66A | €169 | €0 | -€169 | -100.0% |
| Gross operating margin | 9900 | €74,987 | €71,741 | -€3,247 | -4.3% |
| Operating profit (loss) | 9901 | €8,997 | €4,575 | -€4,422 | -49.2% |
| Financial income | 75/76B | €778 | €975 | +€197 | +25.4% |
| Recurring financial income | 75 | €778 | €975 | +€197 | +25.4% |
| Financial charges | 65/66B | €1,960 | €1,769 | -€191 | -9.8% |
| Recurring financial charges | 65 | €1,960 | €1,769 | -€191 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €7,814 | €3,781 | -€4,033 | -51.6% |
| Income taxes | 67/77 | €5,000 | -€563 | -€5,563 | |
| Profit (loss) for the period | 9904 | €2,814 | €4,344 | +€1,530 | +54.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,814 | €4,344 | +€1,530 | +54.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.