Kickdown: 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.
Kickdown
Largest movements
- Stocks and contracts +€37,451
up €37,451 (+25.8%), from €144,963 to €182,415
- Tangible fixed assets +€6,750
new in 2025: €6,750
of which Plant, machinery and equipment: +€5,757
- Cash -€2,928
down €2,928 (-11.9%), from €24,568 to €21,640
mainly Stocks and contracts (-€37,451) and Other debts (-€9,637)
- Current portion of long-term debt +€50,000
new in 2025: €50,000
- Other debts -€9,637
down €9,637 (-5.9%), from €163,513 to €153,876
- Reserves +€4,831
up €4,831 (+228.5%), from €2,114 to €6,945
- Trade debts -€2,353
down €2,353 (-73.2%), from €3,214 to €862
- Gross operating margin +€6,219
up €6,219 (+152.0%), from €4,091 to €10,310
- Financial charges +€2,052
up €2,052 (+4145.3%), from €50 to €2,102
- Depreciation +€1,224
new in 2025: €1,224
- Other operating charges +€118
up €118 (+5.8%), from €2,035 to €2,153
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.
Cash bridge derived
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 | €170,842 | €213,683 | +€42,841 | +25.1% |
| Fixed assets | 21/28 | - | €6,750 | +€6,750 | |
| Tangible fixed assets | 22/27 | - | €6,750 | +€6,750 | |
| Plant, machinery and equipment | 23 | - | €5,757 | +€5,757 | |
| Furniture and vehicles | 24 | - | €993 | +€993 | |
| Current assets | 29/58 | €170,842 | €206,932 | +€36,090 | +21.1% |
| Stocks and contracts in progress | 3 | €144,963 | €182,415 | +€37,451 | +25.8% |
| Stocks | 30/36 | €144,963 | €182,415 | +€37,451 | +25.8% |
| Amounts receivable within one year | 40/41 | €1,051 | €2,719 | +€1,668 | +158.7% |
| Trade receivables | 40 | €869 | €2,382 | +€1,513 | +174.0% |
| Other amounts receivable | 41 | €182 | €337 | +€155 | +85.3% |
| Cash at bank and in hand | 54/58 | €24,568 | €21,640 | -€2,928 | -11.9% |
| Deferred charges and accrued income | 490/1 | €259 | €159 | -€101 | -38.9% |
| Total equity and liabilities | 10/49 | €170,842 | €213,683 | +€42,841 | +25.1% |
| Equity | 10/15 | €4,114 | €8,945 | +€4,831 | +117.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €2,114 | €6,945 | +€4,831 | +228.5% |
| Distributable reserves | 133 | €2,114 | €6,945 | +€4,831 | +228.5% |
| Amounts payable | 17/49 | €166,728 | €204,737 | +€38,010 | +22.8% |
| Amounts payable within one year | 42/48 | €166,728 | €204,737 | +€38,010 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €3,214 | €862 | -€2,353 | -73.2% |
| Suppliers | 440/4 | €3,214 | €862 | -€2,353 | -73.2% |
| Other amounts payable | 47/48 | €163,513 | €153,876 | -€9,637 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,224 | +€1,224 | |
| Other operating charges | 640/8 | €2,035 | €2,153 | +€118 | +5.8% |
| Gross operating margin | 9900 | €4,091 | €10,310 | +€6,219 | +152.0% |
| Operating profit (loss) | 9901 | €2,056 | €6,933 | +€4,877 | +237.2% |
| Financial charges | 65/66B | €50 | €2,102 | +€2,052 | +4145.3% |
| Recurring financial charges | 65 | €50 | €2,102 | +€2,052 | +4145.3% |
| Profit (loss) for the period before taxes | 9903 | €2,007 | €4,831 | +€2,824 | +140.7% |
| Profit (loss) for the period | 9904 | €2,007 | €4,831 | +€2,824 | +140.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,007 | €4,831 | +€2,824 | +140.7% |
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 12 October 2026 via checked.be.