Kieco: 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.
Kieco
Largest movements
- Cash +€26,095
up €26,095 (+111.2%), from €23,463 to €49,558
mainly Net result for the year (+€24,726) and Depreciation (+€9,690)
- Tangible fixed assets -€9,690
down €9,690 (-20.2%), from €47,867 to €38,178
of which Furniture and vehicles: -€9,280
- Receivables within one year +€3,164
up €3,164 (+33.7%), from €9,383 to €12,547
of which Trade receivables: +€2,263
- Deferred charges and accrued income +€1,708
up €1,708 (+63.4%), from €2,693 to €4,400
- Profit (loss) carried forward +€24,726
up €24,726 (+105.3%), from €23,481 to €48,207
- Debts after one year -€10,000
down €10,000 (-25.0%), from €40,000 to €30,000
- Tax, wage and social debts +€6,897
up €6,897 (+92.9%), from €7,421 to €14,317
- Gross operating margin +€12,859
up €12,859 (+42.6%), from €30,172 to €43,031
- Depreciation +€9,109
up €9,109 (+1568.0%), from €581 to €9,690
- Financial charges +€1,546
new in 2025: €1,546
- Taxes +€848
up €848 (+13.9%), from €6,110 to €6,957
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 | €83,406 | €104,683 | +€21,277 | +25.5% |
| Fixed assets | 21/28 | €47,867 | €38,178 | -€9,690 | -20.2% |
| Tangible fixed assets | 22/27 | €47,867 | €38,178 | -€9,690 | -20.2% |
| Plant, machinery and equipment | 23 | €1,909 | €1,500 | -€410 | -21.4% |
| Furniture and vehicles | 24 | €45,958 | €36,678 | -€9,280 | -20.2% |
| Current assets | 29/58 | €35,539 | €66,505 | +€30,967 | +87.1% |
| Amounts receivable within one year | 40/41 | €9,383 | €12,547 | +€3,164 | +33.7% |
| Trade receivables | 40 | €9,383 | €11,646 | +€2,263 | +24.1% |
| Other amounts receivable | 41 | - | €901 | +€901 | |
| Cash at bank and in hand | 54/58 | €23,463 | €49,558 | +€26,095 | +111.2% |
| Deferred charges and accrued income | 490/1 | €2,693 | €4,400 | +€1,708 | +63.4% |
| Total equity and liabilities | 10/49 | €83,406 | €104,683 | +€21,277 | +25.5% |
| Equity | 10/15 | €25,481 | €50,207 | +€24,726 | +97.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,481 | €48,207 | +€24,726 | +105.3% |
| Amounts payable | 17/49 | €57,925 | €54,476 | -€3,449 | -6.0% |
| Amounts payable after more than one year | 17 | €40,000 | €30,000 | -€10,000 | -25.0% |
| Financial debts | 170/4 | €40,000 | €30,000 | -€10,000 | -25.0% |
| Amounts payable within one year | 42/48 | €17,925 | €24,476 | +€6,551 | +36.5% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €10,000 | = | 0.0% |
| Trade debts | 44 | €420 | €158 | -€261 | -62.3% |
| Suppliers | 440/4 | €420 | €158 | -€261 | -62.3% |
| Taxes, remuneration and social security | 45 | €7,421 | €14,317 | +€6,897 | +92.9% |
| Taxes | 450/3 | €7,421 | €14,317 | +€6,897 | +92.9% |
| Other amounts payable | 47/48 | €85 | €0 | -€85 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €581 | €9,690 | +€9,109 | +1568.0% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | €30,172 | €43,031 | +€12,859 | +42.6% |
| Operating profit (loss) | 9901 | €29,591 | €33,221 | +€3,631 | +12.3% |
| Financial income | 75/76B | €0 | €9 | +€9 | +44450.0% |
| Recurring financial income | 75 | €0 | €9 | +€9 | +44450.0% |
| Financial charges | 65/66B | - | €1,546 | +€1,546 | |
| Recurring financial charges | 65 | - | €1,546 | +€1,546 | |
| Profit (loss) for the period before taxes | 9903 | €29,591 | €31,684 | +€2,093 | +7.1% |
| Income taxes | 67/77 | €6,110 | €6,957 | +€848 | +13.9% |
| Profit (loss) for the period | 9904 | €23,481 | €24,726 | +€1,245 | +5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,481 | €24,726 | +€1,245 | +5.3% |
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 9 October 2026 via checked.be.