DR. M. KINT: 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.
DR. M. KINT
Largest movements
- Receivables within one year +€288,218
new in 2025: €288,218
- Cash +€151,810
up €151,810 (+94.5%), from €160,630 to €312,439
mainly Net result for the year (+€363,561) and Deferred charges and accrued income (+€101,306)
- Current investments +€129,069
up €129,069 (+15.7%), from €824,107 to €953,176
- Deferred charges and accrued income -€101,306
down €101,306 (-96.5%), from €104,947 to €3,640
- Intangible fixed assets -€39,678
down €39,678 (-100%), from €39,678 to €0
- Reserves +€363,561
up €363,561 (+33.4%), from €1.1m to €1.5m
of which Distributable reserves: +€363,561
- Tax, wage and social debts +€60,621
up €60,621 (+271%), from €22,407 to €83,028
- Gross operating margin +€221,456
up €221,456 (+70.6%), from €313,579 to €535,035
- Taxes +€72,296
up €72,296 (+70.1%), from €103,156 to €175,451
- Financial charges +€23,290
up €23,290, from -€11,845 to €11,445
- Depreciation -€12,398
down €12,398 (-94.5%), from €13,117 to €719
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 | €1,137,685 | €1,558,479 | +€420,793 | +37.0% |
| Fixed assets | 21/28 | €48,003 | €1,005 | -€46,997 | -97.9% |
| Intangible fixed assets | 21 | €39,678 | €0 | -€39,678 | -100% |
| Tangible fixed assets | 22/27 | €8,325 | €1,005 | -€7,320 | -87.9% |
| Plant, machinery and equipment | 23 | €8,325 | €1,005 | -€7,320 | -87.9% |
| Current assets | 29/58 | €1,089,683 | €1,557,473 | +€467,790 | +42.9% |
| Amounts receivable within one year | 40/41 | - | €288,218 | +€288,218 | |
| Trade receivables | 40 | - | €288,218 | +€288,218 | |
| Current investments | 50/53 | €824,107 | €953,176 | +€129,069 | +15.7% |
| Cash at bank and in hand | 54/58 | €160,630 | €312,439 | +€151,810 | +94.5% |
| Deferred charges and accrued income | 490/1 | €104,947 | €3,640 | -€101,306 | -96.5% |
| Total equity and liabilities | 10/49 | €1,137,685 | €1,558,479 | +€420,793 | +37.0% |
| Equity | 10/15 | €1,108,632 | €1,472,193 | +€363,561 | +32.8% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,089,632 | €1,453,193 | +€363,561 | +33.4% |
| Non-distributable reserves | 130/1 | €22,060 | €22,060 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,060 | €22,060 | = | 0.0% |
| Distributable reserves | 133 | €1,067,572 | €1,431,133 | +€363,561 | +34.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €29,053 | €86,285 | +€57,232 | +197% |
| Amounts payable within one year | 42/48 | €29,053 | €86,285 | +€57,232 | +197% |
| Trade debts | 44 | €944 | €771 | -€174 | -18.4% |
| Suppliers | 440/4 | €944 | €771 | -€174 | -18.4% |
| Taxes, remuneration and social security | 45 | €22,407 | €83,028 | +€60,621 | +271% |
| Taxes | 450/3 | €22,407 | €83,028 | +€60,621 | +271% |
| Other amounts payable | 47/48 | €5,702 | €2,487 | -€3,215 | -56.4% |
| Non-recurring operating income | 76A | - | €313,939 | +€313,939 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,117 | €719 | -€12,398 | -94.5% |
| Other operating charges | 640/8 | €2,709 | €2,619 | -€91 | -3.3% |
| Gross operating margin | 9900 | €313,579 | €535,035 | +€221,456 | +70.6% |
| Operating profit (loss) | 9901 | €297,753 | €531,698 | +€233,945 | +78.6% |
| Financial income | 75/76B | €20,729 | €18,760 | -€1,970 | -9.5% |
| Recurring financial income | 75 | €20,729 | €18,760 | -€1,970 | -9.5% |
| Financial charges | 65/66B | -€11,845 | €11,445 | +€23,290 | |
| Recurring financial charges | 65 | -€11,845 | €11,445 | +€23,290 | |
| Profit (loss) for the period before taxes | 9903 | €330,327 | €539,013 | +€208,685 | +63.2% |
| Income taxes | 67/77 | €103,156 | €175,451 | +€72,296 | +70.1% |
| Profit (loss) for the period | 9904 | €227,172 | €363,561 | +€136,389 | +60.0% |
| Profit (loss) for the period to be appropriated | 9905 | €227,172 | €363,561 | +€136,389 | +60.0% |
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.