De Kippe: 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.
De Kippe
Largest movements
- Receivables within one year +€16,776
up €16,776 (+43.5%), from €38,539 to €55,315
of which Other amounts receivable: +€17,523
- Cash -€9,612
down €9,612 (-3.6%), from €269,314 to €259,703
mainly Contributions, distributions and other (-€52,000) and Investment in fixed assets (net) (-€42,718)
- Other debts +€52,000
new in 2025: €52,000
- Debts after one year -€32,388
down €32,388 (-23.8%), from €136,087 to €103,699
- Current portion of long-term debt -€12,495
down €12,495 (-22.1%), from €56,486 to €43,991
- Tax, wage and social debts -€11,079
down €11,079 (-14.5%), from €76,427 to €65,348
of which Remuneration and social security: -€14,514
- Reserves +€6,733
up €6,733 (+3.3%), from €201,311 to €208,044
- Gross operating margin -€74,313
down €74,313 (-12.1%), from €615,305 to €540,992
- Staff costs -€20,120
down €20,120 (-4.7%), from €427,078 to €406,958
- Depreciation -€18,096
down €18,096 (-27.8%), from €65,030 to €46,934
- Taxes -€9,812
down €9,812 (-38.2%), from €25,658 to €15,846
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 | €510,132 | €507,864 | -€2,268 | -0.4% |
| Fixed assets | 21/28 | €165,815 | €161,598 | -€4,217 | -2.5% |
| Intangible fixed assets | 21 | €1 | €0 | -€0 | -19.2% |
| Tangible fixed assets | 22/27 | €165,814 | €161,598 | -€4,216 | -2.5% |
| Plant, machinery and equipment | 23 | €58,639 | €57,212 | -€1,427 | -2.4% |
| Furniture and vehicles | 24 | €22,958 | €13,628 | -€9,330 | -40.6% |
| Leasing and similar rights | 25 | - | €11,414 | +€11,414 | |
| Other tangible fixed assets | 26 | €84,217 | €79,343 | -€4,874 | -5.8% |
| Current assets | 29/58 | €344,317 | €346,266 | +€1,949 | +0.6% |
| Stocks and contracts in progress | 3 | €30,583 | €27,559 | -€3,024 | -9.9% |
| Stocks | 30/36 | €30,583 | €27,559 | -€3,024 | -9.9% |
| Amounts receivable within one year | 40/41 | €38,539 | €55,315 | +€16,776 | +43.5% |
| Trade receivables | 40 | €1,733 | €985 | -€747 | -43.1% |
| Other amounts receivable | 41 | €36,807 | €54,330 | +€17,523 | +47.6% |
| Cash at bank and in hand | 54/58 | €269,314 | €259,703 | -€9,612 | -3.6% |
| Deferred charges and accrued income | 490/1 | €5,881 | €3,689 | -€2,191 | -37.3% |
| Total equity and liabilities | 10/49 | €510,132 | €507,864 | -€2,268 | -0.4% |
| Equity | 10/15 | €206,311 | €213,044 | +€6,733 | +3.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €201,311 | €208,044 | +€6,733 | +3.3% |
| Distributable reserves | 133 | €201,311 | €208,044 | +€6,733 | +3.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €303,820 | €294,820 | -€9,001 | -3.0% |
| Amounts payable after more than one year | 17 | €136,087 | €103,699 | -€32,388 | -23.8% |
| Financial debts | 170/4 | €136,087 | €103,699 | -€32,388 | -23.8% |
| Amounts payable within one year | 42/48 | €166,987 | €190,298 | +€23,311 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €56,486 | €43,991 | -€12,495 | -22.1% |
| Financial debts | 43 | €10,000 | €6,321 | -€3,679 | -36.8% |
| Credit institutions | 430/8 | €10,000 | €6,321 | -€3,679 | -36.8% |
| Trade debts | 44 | €24,074 | €22,638 | -€1,436 | -6.0% |
| Suppliers | 440/4 | €24,074 | €22,638 | -€1,436 | -6.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €76,427 | €65,348 | -€11,079 | -14.5% |
| Taxes | 450/3 | €26,579 | €30,014 | +€3,435 | +12.9% |
| Remuneration and social security | 454/9 | €49,848 | €35,334 | -€14,514 | -29.1% |
| Other amounts payable | 47/48 | - | €52,000 | +€52,000 | |
| Accrued charges and deferred income | 492/3 | €747 | €823 | +€77 | +10.3% |
| Non-recurring operating income | 76A | €100 | €150 | +€50 | +50.0% |
| Remuneration, social security and pensions | 62 | €427,078 | €406,958 | -€20,120 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,030 | €46,934 | -€18,096 | -27.8% |
| Other operating charges | 640/8 | €3,823 | €4,396 | +€573 | +15.0% |
| Non-recurring operating charges | 66A | €1,552 | €0 | -€1,552 | -100.0% |
| Gross operating margin | 9900 | €615,305 | €540,992 | -€74,313 | -12.1% |
| Operating profit (loss) | 9901 | €117,822 | €82,704 | -€35,119 | -29.8% |
| Financial income | 75/76B | €1,551 | €3,017 | +€1,465 | +94.5% |
| Recurring financial income | 75 | €1,551 | €3,017 | +€1,465 | +94.5% |
| Financial charges | 65/66B | €8,092 | €11,142 | +€3,050 | +37.7% |
| Recurring financial charges | 65 | €8,092 | €11,096 | +€3,004 | +37.1% |
| Non-recurring financial charges | 66B | €0 | €46 | +€46 | |
| Profit (loss) for the period before taxes | 9903 | €111,282 | €74,579 | -€36,703 | -33.0% |
| Income taxes | 67/77 | €25,658 | €15,846 | -€9,812 | -38.2% |
| Profit (loss) for the period | 9904 | €85,624 | €58,733 | -€26,891 | -31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €85,624 | €58,733 | -€26,891 | -31.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.