KIEME: 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.
KIEME
Largest movements
- Tangible fixed assets +€36,980
up €36,980 (+28.8%), from €128,500 to €165,480
of which Furniture and vehicles: +€39,036
- Receivables within one year -€24,403
down €24,403 (-16.0%), from €152,964 to €128,561
of which Trade receivables: -€24,506
- Cash +€22,974
up €22,974 (+26.8%), from €85,648 to €108,622
mainly Net result for the year (+€72,511) and Receivables within one year (+€24,403)
- Current investments -€22,210
down €22,210 (-21.7%), from €102,468 to €80,257
- Reserves +€15,304
up €15,304 (+4.4%), from €350,874 to €366,178
of which Distributable reserves: +€15,304
- Advances received -€9,100
down €9,100 (-100.0%), from €9,100 to €0
- Debts after one year +€8,960
up €8,960 (+16.7%), from €53,754 to €62,713
- Current portion of long-term debt +€6,215
up €6,215 (+47.6%), from €13,053 to €19,268
- Gross operating margin -€39,688
down €39,688 (-19.1%), from €207,978 to €168,291
- Taxes -€10,661
down €10,661 (-28.2%), from €37,745 to €27,085
- Staff costs -€9,913
down €9,913 (-15.8%), from €62,649 to €52,735
- Depreciation +€2,416
up €2,416 (+20.3%), from €11,918 to €14,334
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 | €503,769 | €512,671 | +€8,901 | +1.8% |
| Fixed assets | 21/28 | €129,120 | €165,528 | +€36,408 | +28.2% |
| Intangible fixed assets | 21 | €620 | €48 | -€572 | -92.3% |
| Tangible fixed assets | 22/27 | €128,500 | €165,480 | +€36,980 | +28.8% |
| Land and buildings | 22 | €121,236 | €119,024 | -€2,212 | -1.8% |
| Plant, machinery and equipment | 23 | €1,791 | €1,947 | +€156 | +8.7% |
| Furniture and vehicles | 24 | €5,474 | €44,510 | +€39,036 | +713.1% |
| Current assets | 29/58 | €374,649 | €347,143 | -€27,507 | -7.3% |
| Stocks and contracts in progress | 3 | €26,590 | €24,567 | -€2,023 | -7.6% |
| Stocks | 30/36 | €26,590 | €24,567 | -€2,023 | -7.6% |
| Amounts receivable within one year | 40/41 | €152,964 | €128,561 | -€24,403 | -16.0% |
| Trade receivables | 40 | €149,215 | €124,709 | -€24,506 | -16.4% |
| Other amounts receivable | 41 | €3,749 | €3,853 | +€104 | +2.8% |
| Current investments | 50/53 | €102,468 | €80,257 | -€22,210 | -21.7% |
| Cash at bank and in hand | 54/58 | €85,648 | €108,622 | +€22,974 | +26.8% |
| Deferred charges and accrued income | 490/1 | €6,979 | €5,134 | -€1,845 | -26.4% |
| Total equity and liabilities | 10/49 | €503,769 | €512,671 | +€8,901 | +1.8% |
| Equity | 10/15 | €363,274 | €378,578 | +€15,304 | +4.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €350,874 | €366,178 | +€15,304 | +4.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €350,874 | €366,178 | +€15,304 | +4.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €12,078 | €12,078 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €12,078 | €12,078 | = | 0.0% |
| Pensions and similar obligations | 160 | €12,078 | €12,078 | = | 0.0% |
| Amounts payable | 17/49 | €128,417 | €122,015 | -€6,402 | -5.0% |
| Amounts payable after more than one year | 17 | €53,754 | €62,713 | +€8,960 | +16.7% |
| Financial debts | 170/4 | €53,754 | €62,713 | +€8,960 | +16.7% |
| Amounts payable within one year | 42/48 | €74,664 | €59,301 | -€15,362 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €13,053 | €19,268 | +€6,215 | +47.6% |
| Trade debts | 44 | €25,885 | €21,347 | -€4,538 | -17.5% |
| Suppliers | 440/4 | €25,885 | €21,347 | -€4,538 | -17.5% |
| Advances received on contracts in progress | 46 | €9,100 | €0 | -€9,100 | -100.0% |
| Taxes, remuneration and social security | 45 | €17,684 | €12,885 | -€4,799 | -27.1% |
| Taxes | 450/3 | €9,129 | €4,029 | -€5,101 | -55.9% |
| Remuneration and social security | 454/9 | €8,555 | €8,857 | +€302 | +3.5% |
| Other amounts payable | 47/48 | €8,941 | €5,801 | -€3,140 | -35.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €62,649 | €52,735 | -€9,913 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,918 | €14,334 | +€2,416 | +20.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,449 | €2,545 | +€96 | +3.9% |
| Gross operating margin | 9900 | €207,978 | €168,291 | -€39,688 | -19.1% |
| Operating profit (loss) | 9901 | €130,962 | €98,676 | -€32,286 | -24.7% |
| Financial income | 75/76B | €4,372 | €2,661 | -€1,711 | -39.1% |
| Recurring financial income | 75 | €4,372 | €2,661 | -€1,711 | -39.1% |
| Financial charges | 65/66B | €2,854 | €1,742 | -€1,112 | -39.0% |
| Recurring financial charges | 65 | €2,854 | €1,742 | -€1,112 | -39.0% |
| Profit (loss) for the period before taxes | 9903 | €132,480 | €99,596 | -€32,884 | -24.8% |
| Income taxes | 67/77 | €37,745 | €27,085 | -€10,661 | -28.2% |
| Profit (loss) for the period | 9904 | €94,734 | €72,511 | -€22,223 | -23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €94,734 | €72,511 | -€22,223 | -23.5% |
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 12 October 2026 via checked.be.