KIELE: 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.
KIELE
Largest movements
- Tangible fixed assets +€224,997
up €224,997 (+51.4%), from €437,947 to €662,945
of which Land and buildings: +€236,122
- Cash +€24,369
up €24,369 (+244%), from €9,977 to €34,347
mainly Debts after one year (+€233,810) and Depreciation (+€81,867)
- Stocks and contracts -€15,569
down €15,569 (-37.5%), from €41,569 to €26,000
- Debts after one year +€233,810
up €233,810 (+82.1%), from €284,769 to €518,579
- Current portion of long-term debt -€11,238
down €11,238 (-21.9%), from €51,253 to €40,015
- Other debts +€10,243
up €10,243 (+769%), from €1,332 to €11,575
- Gross operating margin +€65,829
up €65,829 (+74.6%), from €88,300 to €154,129
- Depreciation +€21,977
up €21,977 (+36.7%), from €59,890 to €81,867
- Staff costs -€10,339
down €10,339 (-16.5%), from €62,584 to €52,245
- Financial charges +€5,617
up €5,617 (+113%), from €4,965 to €10,582
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 | €557,233 | €793,983 | +€236,749 | +42.5% |
| Fixed assets | 21/28 | €437,947 | €662,945 | +€224,997 | +51.4% |
| Tangible fixed assets | 22/27 | €437,947 | €662,945 | +€224,997 | +51.4% |
| Land and buildings | 22 | €421,760 | €657,882 | +€236,122 | +56.0% |
| Plant, machinery and equipment | 23 | €7,379 | €3,721 | -€3,658 | -49.6% |
| Furniture and vehicles | 24 | €8,808 | €1,341 | -€7,467 | -84.8% |
| Current assets | 29/58 | €119,286 | €131,038 | +€11,752 | +9.9% |
| Stocks and contracts in progress | 3 | €41,569 | €26,000 | -€15,569 | -37.5% |
| Stocks | 30/36 | €41,569 | €26,000 | -€15,569 | -37.5% |
| Amounts receivable within one year | 40/41 | €62,515 | €62,262 | -€253 | -0.4% |
| Trade receivables | 40 | €35,533 | €58,236 | +€22,703 | +63.9% |
| Other amounts receivable | 41 | €26,982 | €4,026 | -€22,956 | -85.1% |
| Cash at bank and in hand | 54/58 | €9,977 | €34,347 | +€24,369 | +244% |
| Deferred charges and accrued income | 490/1 | €5,224 | €8,430 | +€3,205 | +61.4% |
| Total equity and liabilities | 10/49 | €557,233 | €793,983 | +€236,749 | +42.5% |
| Equity | 10/15 | €188,983 | €195,861 | +€6,878 | +3.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €182,783 | €189,661 | +€6,878 | +3.8% |
| Distributable reserves | 133 | €182,783 | €189,661 | +€6,878 | +3.8% |
| Amounts payable | 17/49 | €368,250 | €598,122 | +€229,871 | +62.4% |
| Amounts payable after more than one year | 17 | €284,769 | €518,579 | +€233,810 | +82.1% |
| Financial debts | 170/4 | €284,769 | €518,579 | +€233,810 | +82.1% |
| Amounts payable within one year | 42/48 | €81,539 | €77,817 | -€3,722 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €51,253 | €40,015 | -€11,238 | -21.9% |
| Trade debts | 44 | €20,067 | €18,083 | -€1,984 | -9.9% |
| Suppliers | 440/4 | €20,067 | €18,083 | -€1,984 | -9.9% |
| Taxes, remuneration and social security | 45 | €8,888 | €8,145 | -€743 | -8.4% |
| Taxes | 450/3 | €161 | €39 | -€122 | -75.7% |
| Remuneration and social security | 454/9 | €8,727 | €8,106 | -€621 | -7.1% |
| Other amounts payable | 47/48 | €1,332 | €11,575 | +€10,243 | +769% |
| Accrued charges and deferred income | 492/3 | €1,942 | €1,725 | -€217 | -11.2% |
| Remuneration, social security and pensions | 62 | €62,584 | €52,245 | -€10,339 | -16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,890 | €81,867 | +€21,977 | +36.7% |
| Other operating charges | 640/8 | €3,571 | €3,477 | -€94 | -2.6% |
| Gross operating margin | 9900 | €88,300 | €154,129 | +€65,829 | +74.6% |
| Operating profit (loss) | 9901 | -€37,745 | €16,539 | +€54,284 | |
| Financial income | 75/76B | €2,068 | €1,094 | -€974 | -47.1% |
| Recurring financial income | 75 | €2,068 | €1,094 | -€974 | -47.1% |
| Financial charges | 65/66B | €4,965 | €10,582 | +€5,617 | +113% |
| Recurring financial charges | 65 | €4,965 | €10,582 | +€5,617 | +113% |
| Profit (loss) for the period before taxes | 9903 | -€40,642 | €7,051 | +€47,693 | |
| Income taxes | 67/77 | €161 | €173 | +€12 | +7.4% |
| Profit (loss) for the period | 9904 | -€40,803 | €6,878 | +€47,681 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,803 | €6,878 | +€47,681 |
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 31 October 2026 via checked.be.