KIANWAY: 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.
KIANWAY
Largest movements
- Stocks and contracts -€7,717
down €7,717 (-21.1%), from €36,529 to €28,811
- Receivables within one year +€2,078
new in 2025: €2,078
- Cash +€1,086
up €1,086 (+7.3%), from €14,799 to €15,885
mainly Stocks and contracts (+€7,717) and Net result for the year (+€1,753)
- Tax, wage and social debts -€6,031
down €6,031 (-68.6%), from €8,789 to €2,758
of which Taxes: -€7,526
- Profit (loss) carried forward +€1,753
up €1,753 (+4.4%), from €39,876 to €41,629
- Gross operating margin +€3,989
up €3,989 (+29.7%), from €13,413 to €17,402
- Financial charges -€1,922
down €1,922 (-44.1%), from €4,353 to €2,431
- Other operating charges -€923
down €923 (-44.9%), from €2,057 to €1,134
- Staff costs +€762
up €762 (+6.9%), from €11,095 to €11,857
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 | €66,952 | €62,171 | -€4,781 | -7.1% |
| Fixed assets | 21/28 | €15,624 | €15,397 | -€227 | -1.5% |
| Tangible fixed assets | 22/27 | €624 | €397 | -€227 | -36.4% |
| Plant, machinery and equipment | 23 | €624 | €397 | -€227 | -36.4% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €51,327 | €46,774 | -€4,553 | -8.9% |
| Stocks and contracts in progress | 3 | €36,529 | €28,811 | -€7,717 | -21.1% |
| Stocks | 30/36 | €36,529 | €28,811 | -€7,717 | -21.1% |
| Amounts receivable within one year | 40/41 | - | €2,078 | +€2,078 | |
| Other amounts receivable | 41 | - | €2,078 | +€2,078 | |
| Cash at bank and in hand | 54/58 | €14,799 | €15,885 | +€1,086 | +7.3% |
| Total equity and liabilities | 10/49 | €66,952 | €62,171 | -€4,781 | -7.1% |
| Equity | 10/15 | €56,485 | €58,238 | +€1,753 | +3.1% |
| Contributions | 10/11 | €16,109 | €16,109 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Other | 1319 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,876 | €41,629 | +€1,753 | +4.4% |
| Amounts payable | 17/49 | €10,467 | €3,933 | -€6,534 | -62.4% |
| Amounts payable within one year | 42/48 | €10,467 | €3,933 | -€6,534 | -62.4% |
| Trade debts | 44 | €1,678 | €1,176 | -€503 | -30.0% |
| Suppliers | 440/4 | €1,678 | €1,176 | -€503 | -30.0% |
| Taxes, remuneration and social security | 45 | €8,789 | €2,758 | -€6,031 | -68.6% |
| Taxes | 450/3 | €8,736 | €1,210 | -€7,526 | -86.2% |
| Remuneration and social security | 454/9 | €53 | €1,548 | +€1,495 | +2,821% |
| Remuneration, social security and pensions | 62 | €11,095 | €11,857 | +€762 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €227 | €227 | = | 0.0% |
| Other operating charges | 640/8 | €2,057 | €1,134 | -€923 | -44.9% |
| Gross operating margin | 9900 | €13,413 | €17,402 | +€3,989 | +29.7% |
| Operating profit (loss) | 9901 | €34 | €4,184 | +€4,150 | +12,218% |
| Financial charges | 65/66B | €4,353 | €2,431 | -€1,922 | -44.1% |
| Recurring financial charges | 65 | €4,353 | €2,431 | -€1,922 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,319 | €1,753 | +€6,072 | |
| Profit (loss) for the period | 9904 | -€4,319 | €1,753 | +€6,072 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,319 | €1,753 | +€6,072 |
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.