DE KIEVELDEN: 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.
DE KIEVELDEN
Largest movements
- Tangible fixed assets -€735,522
down €735,522 (-84.5%), from €870,877 to €135,355
of which Land and buildings: -€498,254
- Receivables within one year +€200,369
up €200,369 (+87.4%), from €229,243 to €429,612
of which Other amounts receivable: +€238,607
- Stocks and contracts -€42,312
down €42,312 (-32.6%), from €129,748 to €87,437
- Cash +€29,554
up €29,554 (+20.2%), from €146,358 to €175,911
mainly Investment in fixed assets (net) (+€684,694) and Trade debts (+€56,431)
- Debts after one year -€363,257
down €363,257 (-75.3%), from €482,412 to €119,155
- Reserves -€133,884
down €133,884 (-35.8%), from €373,550 to €239,665
of which Distributable reserves: -€133,884
- Current portion of long-term debt -€120,446
down €120,446 (-67.3%), from €178,916 to €58,470
- Trade debts +€56,431
up €56,431 (+67.9%), from €83,083 to €139,514
- Other debts +€23,096
new in 2025: €23,096
- Depreciation -€153,416
down €153,416 (-74.9%), from €204,923 to €51,508
- Gross operating margin -€123,360
down €123,360 (-9.3%), from €1.3m to €1.2m
- Staff costs -€41,819
down €41,819 (-4.0%), from €1.0m to €995,730
- Write-downs +€32,047
new in 2025: €32,047
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 | €1,572,255 | €1,016,723 | -€555,532 | -35.3% |
| Fixed assets | 21/28 | €874,143 | €137,942 | -€736,202 | -84.2% |
| Intangible fixed assets | 21 | €3,266 | €2,586 | -€680 | -20.8% |
| Tangible fixed assets | 22/27 | €870,877 | €135,355 | -€735,522 | -84.5% |
| Land and buildings | 22 | €498,254 | €0 | -€498,254 | -100% |
| Plant, machinery and equipment | 23 | €246,049 | €26,979 | -€219,070 | -89.0% |
| Furniture and vehicles | 24 | €126,574 | €108,376 | -€18,198 | -14.4% |
| Current assets | 29/58 | €698,112 | €878,781 | +€180,669 | +25.9% |
| Amounts receivable after more than one year | 29 | €45,000 | €45,000 | = | 0.0% |
| Other amounts receivable | 291 | €45,000 | €45,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €129,748 | €87,437 | -€42,312 | -32.6% |
| Stocks | 30/36 | €129,748 | €87,437 | -€42,312 | -32.6% |
| Amounts receivable within one year | 40/41 | €229,243 | €429,612 | +€200,369 | +87.4% |
| Trade receivables | 40 | €224,187 | €185,949 | -€38,238 | -17.1% |
| Other amounts receivable | 41 | €5,056 | €243,663 | +€238,607 | +4,719% |
| Current investments | 50/53 | €8,544 | €1,543 | -€7,001 | -81.9% |
| Cash at bank and in hand | 54/58 | €146,358 | €175,911 | +€29,554 | +20.2% |
| Deferred charges and accrued income | 490/1 | €139,219 | €139,278 | +€59 | 0.0% |
| Total equity and liabilities | 10/49 | €1,572,255 | €1,016,723 | -€555,532 | -35.3% |
| Equity | 10/15 | €435,550 | €301,665 | -€133,884 | -30.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €373,550 | €239,665 | -€133,884 | -35.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €367,350 | €233,465 | -€133,884 | -36.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,136,705 | €715,057 | -€421,648 | -37.1% |
| Amounts payable after more than one year | 17 | €482,412 | €119,155 | -€363,257 | -75.3% |
| Financial debts | 170/4 | €482,412 | €119,155 | -€363,257 | -75.3% |
| Amounts payable within one year | 42/48 | €633,347 | €576,979 | -€56,368 | -8.9% |
| Current portion of amounts payable after more than one year | 42 | €178,916 | €58,470 | -€120,446 | -67.3% |
| Financial debts | 43 | €217,872 | €216,688 | -€1,184 | -0.5% |
| Credit institutions | 430/8 | €217,872 | €216,688 | -€1,184 | -0.5% |
| Trade debts | 44 | €83,083 | €139,514 | +€56,431 | +67.9% |
| Suppliers | 440/4 | €83,083 | €139,514 | +€56,431 | +67.9% |
| Advances received on contracts in progress | 46 | €2,081 | €0 | -€2,081 | -100% |
| Taxes, remuneration and social security | 45 | €151,394 | €139,211 | -€12,184 | -8.0% |
| Taxes | 450/3 | €24,823 | €13,864 | -€10,959 | -44.1% |
| Remuneration and social security | 454/9 | €126,571 | €125,347 | -€1,224 | -1.0% |
| Other amounts payable | 47/48 | - | €23,096 | +€23,096 | |
| Accrued charges and deferred income | 492/3 | €20,946 | €18,923 | -€2,023 | -9.7% |
| Non-recurring operating income | 76A | - | €109,059 | +€109,059 | |
| Remuneration, social security and pensions | 62 | €1,037,549 | €995,730 | -€41,819 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204,923 | €51,508 | -€153,416 | -74.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €32,047 | +€32,047 | |
| Other operating charges | 640/8 | €47,296 | €50,036 | +€2,741 | +5.8% |
| Gross operating margin | 9900 | €1,330,884 | €1,207,524 | -€123,360 | -9.3% |
| Operating profit (loss) | 9901 | €41,116 | €78,202 | +€37,086 | +90.2% |
| Financial income | 75/76B | €1,628 | €1,575 | -€54 | -3.3% |
| Recurring financial income | 75 | €1,628 | €1,575 | -€54 | -3.3% |
| Financial charges | 65/66B | €31,174 | €31,366 | +€192 | +0.6% |
| Recurring financial charges | 65 | €31,174 | €31,366 | +€192 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €11,570 | €48,411 | +€36,840 | +318% |
| Income taxes | 67/77 | €1,283 | €4,416 | +€3,134 | +244% |
| Profit (loss) for the period | 9904 | €10,288 | €43,995 | +€33,707 | +328% |
| Profit (loss) for the period to be appropriated | 9905 | €10,288 | €43,995 | +€33,707 | +328% |
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 13 October 2026 via checked.be.