HVDB KINE: what changed
HVDB KINE
Largest movements
- Receivables within one year -€1,843
down €1,843 (-39.8%), from €4,630 to €2,786
of which Trade receivables: -€4,630
- Tangible fixed assets -€878
down €878 (-7.4%), from €11,923 to €11,046
of which Plant, machinery and equipment: -€1,567
- Cash +€852
up €852 (+8.5%), from €10,056 to €10,907
mainly Depreciation (+€2,267) and Trade debts (+€1,911)
- Tax, wage and social debts -€3,637
down €3,637 (-44.8%), from €8,114 to €4,477
- Trade debts +€1,911
up €1,911 (+423%), from €452 to €2,363
- Profit (loss) carried forward -€536
down €536 (-1.6%), from €34,439 to €33,903
- Financial charges +€3,053
up €3,053 (+286%), from €1,068 to €4,121
- Depreciation -€713
down €713 (-23.9%), from €2,980 to €2,267
- Gross operating margin +€642
up €642 (+8.3%), from €7,777 to €8,420
- Taxes -€638
down €638 (-34.5%), from €1,851 to €1,214
- Other operating charges +€158
up €158 (+33.3%), from €475 to €633
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €47,090 | €45,066 | -€2,023 | -4.3% |
| Fixed assets | 21/28 | €11,923 | €11,046 | -€878 | -7.4% |
| Tangible fixed assets | 22/27 | €11,923 | €11,046 | -€878 | -7.4% |
| Plant, machinery and equipment | 23 | €10,125 | €8,558 | -€1,567 | -15.5% |
| Furniture and vehicles | 24 | €1,798 | €1,450 | -€348 | -19.4% |
| Other tangible fixed assets | 26 | - | €1,037 | +€1,037 | |
| Current assets | 29/58 | €35,166 | €34,021 | -€1,145 | -3.3% |
| Amounts receivable within one year | 40/41 | €4,630 | €2,786 | -€1,843 | -39.8% |
| Trade receivables | 40 | €4,630 | €0 | -€4,630 | -100% |
| Other amounts receivable | 41 | - | €2,786 | +€2,786 | |
| Cash at bank and in hand | 54/58 | €10,056 | €10,907 | +€852 | +8.5% |
| Deferred charges and accrued income | 490/1 | €20,481 | €20,327 | -€154 | -0.8% |
| Total equity and liabilities | 10/49 | €47,090 | €45,066 | -€2,023 | -4.3% |
| Equity | 10/15 | €36,939 | €36,403 | -€536 | -1.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,439 | €33,903 | -€536 | -1.6% |
| Amounts payable | 17/49 | €10,150 | €8,663 | -€1,487 | -14.7% |
| Amounts payable within one year | 42/48 | €10,150 | €8,663 | -€1,487 | -14.7% |
| Trade debts | 44 | €452 | €2,363 | +€1,911 | +423% |
| Suppliers | 440/4 | €452 | €2,363 | +€1,911 | +423% |
| Taxes, remuneration and social security | 45 | €8,114 | €4,477 | -€3,637 | -44.8% |
| Taxes | 450/3 | €8,114 | €4,477 | -€3,637 | -44.8% |
| Other amounts payable | 47/48 | €1,584 | €1,823 | +€239 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,980 | €2,267 | -€713 | -23.9% |
| Other operating charges | 640/8 | €475 | €633 | +€158 | +33.3% |
| Gross operating margin | 9900 | €7,777 | €8,420 | +€642 | +8.3% |
| Operating profit (loss) | 9901 | €4,322 | €5,519 | +€1,198 | +27.7% |
| Financial income | 75/76B | €0 | €113 | +€112 | +43,192% |
| Recurring financial income | 75 | €0 | €113 | +€112 | +43,192% |
| Financial charges | 65/66B | €1,068 | €4,121 | +€3,053 | +286% |
| Recurring financial charges | 65 | €1,068 | €4,121 | +€3,053 | +286% |
| Profit (loss) for the period before taxes | 9903 | €3,254 | €1,511 | -€1,743 | -53.6% |
| Income taxes | 67/77 | €1,851 | €1,214 | -€638 | -34.5% |
| Profit (loss) for the period | 9904 | €1,403 | €297 | -€1,106 | -78.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,403 | €297 | -€1,106 | -78.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.