GM KINE: 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.
GM KINE
Largest movements
- Cash +€36,829
up €36,829 (+158%), from €23,266 to €60,095
mainly Depreciation (+€60,217) and Net result for the year (+€34,626)
- Tangible fixed assets +€13,105
up €13,105 (+1.8%), from €719,191 to €732,296
of which Land and buildings: +€11,533
- Receivables within one year -€10,145
down €10,145 (-17.2%), from €59,029 to €48,884
of which Trade receivables: -€12,640
- Reserves +€24,626
up €24,626 (+40.1%), from €61,469 to €86,095
- Current portion of long-term debt +€18,426
up €18,426 (+24.9%), from €74,016 to €92,442
- Debts after one year -€14,422
down €14,422 (-3.4%), from €418,547 to €404,125
- Gross operating margin +€18,215
up €18,215 (+15.8%), from €115,217 to €133,432
- Other operating charges +€4,757
up €4,757 (+197%), from €2,411 to €7,168
- Depreciation +€4,208
up €4,208 (+7.5%), from €56,008 to €60,217
- Taxes +€1,992
up €1,992 (+15.5%), from €12,893 to €14,885
- Financial charges +€1,694
up €1,694 (+11.3%), from €14,936 to €16,630
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 | €807,322 | €847,105 | +€39,784 | +4.9% |
| Fixed assets | 21/28 | €719,191 | €732,296 | +€13,105 | +1.8% |
| Tangible fixed assets | 22/27 | €719,191 | €732,296 | +€13,105 | +1.8% |
| Land and buildings | 22 | €681,377 | €692,911 | +€11,533 | +1.7% |
| Furniture and vehicles | 24 | €22,733 | €21,399 | -€1,334 | -5.9% |
| Leasing and similar rights | 25 | €15,080 | €10,327 | -€4,753 | -31.5% |
| Other tangible fixed assets | 26 | - | €7,659 | +€7,659 | |
| Current assets | 29/58 | €88,131 | €114,810 | +€26,679 | +30.3% |
| Amounts receivable within one year | 40/41 | €59,029 | €48,884 | -€10,145 | -17.2% |
| Trade receivables | 40 | €41,392 | €28,752 | -€12,640 | -30.5% |
| Other amounts receivable | 41 | €17,638 | €20,133 | +€2,495 | +14.1% |
| Cash at bank and in hand | 54/58 | €23,266 | €60,095 | +€36,829 | +158% |
| Deferred charges and accrued income | 490/1 | €5,836 | €5,830 | -€5 | -0.1% |
| Total equity and liabilities | 10/49 | €807,322 | €847,105 | +€39,784 | +4.9% |
| Equity | 10/15 | €311,100 | €335,726 | +€24,626 | +7.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €61,469 | €86,095 | +€24,626 | +40.1% |
| Distributable reserves | 133 | €61,469 | €86,095 | +€24,626 | +40.1% |
| Profit (loss) carried forward | 14 | €231,031 | €231,031 | = | 0.0% |
| Amounts payable | 17/49 | €496,221 | €511,380 | +€15,158 | +3.1% |
| Amounts payable after more than one year | 17 | €418,547 | €404,125 | -€14,422 | -3.4% |
| Financial debts | 170/4 | €418,547 | €404,125 | -€14,422 | -3.4% |
| Amounts payable within one year | 42/48 | €77,476 | €106,996 | +€29,520 | +38.1% |
| Current portion of amounts payable after more than one year | 42 | €74,016 | €92,442 | +€18,426 | +24.9% |
| Financial debts | 43 | - | €6,181 | +€6,181 | |
| Credit institutions | 430/8 | - | €6,181 | +€6,181 | |
| Trade debts | 44 | €2,348 | €7,761 | +€5,413 | +231% |
| Suppliers | 440/4 | €2,348 | €7,761 | +€5,413 | +231% |
| Taxes, remuneration and social security | 45 | €500 | - | -€500 | |
| Taxes | 450/3 | €500 | - | -€500 | |
| Other amounts payable | 47/48 | €612 | €612 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €198 | €258 | +€60 | +30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,008 | €60,217 | +€4,208 | +7.5% |
| Other operating charges | 640/8 | €2,411 | €7,168 | +€4,757 | +197% |
| Gross operating margin | 9900 | €115,217 | €133,432 | +€18,215 | +15.8% |
| Operating profit (loss) | 9901 | €56,798 | €66,047 | +€9,249 | +16.3% |
| Financial income | 75/76B | €48 | €93 | +€45 | +94.0% |
| Recurring financial income | 75 | €48 | €93 | +€45 | +94.0% |
| Financial charges | 65/66B | €14,936 | €16,630 | +€1,694 | +11.3% |
| Recurring financial charges | 65 | €14,936 | €16,630 | +€1,694 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €41,910 | €49,510 | +€7,601 | +18.1% |
| Income taxes | 67/77 | €12,893 | €14,885 | +€1,992 | +15.5% |
| Profit (loss) for the period | 9904 | €29,017 | €34,626 | +€5,609 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,017 | €34,626 | +€5,609 | +19.3% |
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 24 October 2026 via checked.be.