KEVIN GITS: 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.
KEVIN GITS
Largest movements
- Cash -€12,696
down €12,696 (-36.6%), from €34,720 to €22,023
mainly Contributions, distributions and other (-€145,000) and Tax, wage and social debts (-€23,315)
- Receivables within one year +€12,415
up €12,415 (+59.9%), from €20,738 to €33,153
of which Other amounts receivable: +€11,153
- Tangible fixed assets -€10,201
down €10,201 (-20.1%), from €50,628 to €40,427
of which Furniture and vehicles: -€11,180
- Other debts +€73,236
up €73,236 (+377%), from €19,419 to €92,655
- Reserves -€59,433
down €59,433 (-97.5%), from €60,945 to €1,512
- Tax, wage and social debts -€23,315
no longer reported in 2025 (was €23,315)
- Debts after one year -€9,896
down €9,896 (-29.5%), from €33,526 to €23,630
- Trade debts +€8,488
up €8,488 (+64.0%), from €13,255 to €21,743
- Gross operating margin +€15,281
up €15,281 (+26.8%), from €57,065 to €72,346
- Taxes -€6,430
down €6,430 (-30.9%), from €20,836 to €14,406
- Depreciation +€2,920
up €2,920 (+28.5%), from €10,235 to €13,155
- Financial income +€2,800
up €2,800 (+6.6%), from €42,745 to €45,545
- Other operating charges -€2,784
down €2,784 (-59.2%), from €4,699 to €1,915
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 | €206,291 | €195,470 | -€10,820 | -5.2% |
| Fixed assets | 21/28 | €90,628 | €80,427 | -€10,201 | -11.3% |
| Tangible fixed assets | 22/27 | €50,628 | €40,427 | -€10,201 | -20.1% |
| Plant, machinery and equipment | 23 | €3,613 | €4,784 | +€1,171 | +32.4% |
| Furniture and vehicles | 24 | €46,453 | €35,273 | -€11,180 | -24.1% |
| Other tangible fixed assets | 26 | €562 | €370 | -€192 | -34.2% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €115,663 | €115,044 | -€619 | -0.5% |
| Amounts receivable within one year | 40/41 | €20,738 | €33,153 | +€12,415 | +59.9% |
| Trade receivables | 40 | €20,738 | €22,000 | +€1,262 | +6.1% |
| Other amounts receivable | 41 | - | €11,153 | +€11,153 | |
| Current investments | 50/53 | €59,795 | €59,468 | -€327 | -0.5% |
| Cash at bank and in hand | 54/58 | €34,720 | €22,023 | -€12,696 | -36.6% |
| Deferred charges and accrued income | 490/1 | €410 | €400 | -€10 | -2.5% |
| Total equity and liabilities | 10/49 | €206,291 | €195,470 | -€10,820 | -5.2% |
| Equity | 10/15 | €105,945 | €46,512 | -€59,433 | -56.1% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €60,945 | €1,512 | -€59,433 | -97.5% |
| Distributable reserves | 133 | €60,945 | €1,512 | -€59,433 | -97.5% |
| Amounts payable | 17/49 | €100,346 | €148,958 | +€48,613 | +48.4% |
| Amounts payable after more than one year | 17 | €33,526 | €23,630 | -€9,896 | -29.5% |
| Financial debts | 170/4 | €33,526 | €23,630 | -€9,896 | -29.5% |
| Amounts payable within one year | 42/48 | €65,531 | €124,295 | +€58,764 | +89.7% |
| Current portion of amounts payable after more than one year | 42 | €9,542 | €9,896 | +€354 | +3.7% |
| Trade debts | 44 | €13,255 | €21,743 | +€8,488 | +64.0% |
| Suppliers | 440/4 | €13,255 | €21,743 | +€8,488 | +64.0% |
| Taxes, remuneration and social security | 45 | €23,315 | - | -€23,315 | |
| Taxes | 450/3 | €23,315 | - | -€23,315 | |
| Other amounts payable | 47/48 | €19,419 | €92,655 | +€73,236 | +377% |
| Accrued charges and deferred income | 492/3 | €1,288 | €1,033 | -€255 | -19.8% |
| Non-recurring operating income | 76A | €3,937 | - | -€3,937 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,235 | €13,155 | +€2,920 | +28.5% |
| Other operating charges | 640/8 | €4,699 | €1,915 | -€2,784 | -59.2% |
| Non-recurring operating charges | 66A | €128 | €588 | +€460 | +359% |
| Gross operating margin | 9900 | €57,065 | €72,346 | +€15,281 | +26.8% |
| Operating profit (loss) | 9901 | €42,003 | €56,688 | +€14,685 | +35.0% |
| Financial income | 75/76B | €42,745 | €45,545 | +€2,800 | +6.6% |
| Recurring financial income | 75 | €42,745 | €45,545 | +€2,800 | +6.6% |
| Financial charges | 65/66B | €3,009 | €2,260 | -€750 | -24.9% |
| Recurring financial charges | 65 | €3,009 | €2,260 | -€750 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €81,738 | €99,973 | +€18,235 | +22.3% |
| Income taxes | 67/77 | €20,836 | €14,406 | -€6,430 | -30.9% |
| Profit (loss) for the period | 9904 | €60,901 | €85,567 | +€24,665 | +40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,901 | €85,567 | +€24,665 | +40.5% |
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.