KIEWITHOEVE: 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.
KIEWITHOEVE
Largest movements
- Tangible fixed assets -€44,826
down €44,826 (-28.4%), from €157,609 to €112,783
of which Leasing and similar rights: -€23,331
- Cash +€11,724
up €11,724 (+188.4%), from €6,224 to €17,948
mainly Depreciation (+€49,739) and Trade debts (+€4,557)
- Receivables within one year +€4,929
up €4,929 (+100.8%), from €4,889 to €9,818
of which Trade receivables: +€5,444
- Deferred charges and accrued income -€3,089
down €3,089 (-50.0%), from €6,181 to €3,092
- Profit (loss) carried forward -€20,925
down €20,925 (-59.2%), from -€35,374 to -€56,299
- Debts after one year -€13,484
down €13,484 (-26.7%), from €50,520 to €37,036
- Trade debts +€4,557
up €4,557 (+25.6%), from €17,779 to €22,335
- Tax, wage and social debts -€3,245
down €3,245 (-14.5%), from €22,329 to €19,084
of which Remuneration and social security: -€2,346
- Staff costs -€10,396
down €10,396 (-9.9%), from €105,369 to €94,973
- Depreciation -€2,137
down €2,137 (-4.1%), from €51,876 to €49,739
- Gross operating margin +€1,482
up €1,482 (+1.1%), from €134,020 to €135,501
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 | €200,620 | €169,001 | -€31,620 | -15.8% |
| Fixed assets | 21/28 | €157,609 | €112,783 | -€44,826 | -28.4% |
| Tangible fixed assets | 22/27 | €157,609 | €112,783 | -€44,826 | -28.4% |
| Plant, machinery and equipment | 23 | €51,783 | €38,162 | -€13,620 | -26.3% |
| Furniture and vehicles | 24 | €6,031 | €3,802 | -€2,229 | -37.0% |
| Leasing and similar rights | 25 | €73,473 | €50,142 | -€23,331 | -31.8% |
| Other tangible fixed assets | 26 | €26,323 | €20,677 | -€5,646 | -21.4% |
| Current assets | 29/58 | €43,011 | €56,218 | +€13,207 | +30.7% |
| Stocks and contracts in progress | 3 | €25,717 | €25,359 | -€358 | -1.4% |
| Stocks | 30/36 | €25,717 | €25,359 | -€358 | -1.4% |
| Amounts receivable within one year | 40/41 | €4,889 | €9,818 | +€4,929 | +100.8% |
| Trade receivables | 40 | €2,773 | €8,217 | +€5,444 | +196.3% |
| Other amounts receivable | 41 | €2,116 | €1,601 | -€515 | -24.4% |
| Cash at bank and in hand | 54/58 | €6,224 | €17,948 | +€11,724 | +188.4% |
| Deferred charges and accrued income | 490/1 | €6,181 | €3,092 | -€3,089 | -50.0% |
| Total equity and liabilities | 10/49 | €200,620 | €169,001 | -€31,620 | -15.8% |
| Equity | 10/15 | €75,845 | €54,920 | -€20,925 | -27.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €105,019 | €105,019 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €103,159 | €103,159 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,374 | -€56,299 | -€20,925 | -59.2% |
| Amounts payable | 17/49 | €124,776 | €114,081 | -€10,695 | -8.6% |
| Amounts payable after more than one year | 17 | €50,520 | €37,036 | -€13,484 | -26.7% |
| Financial debts | 170/4 | €50,520 | €37,036 | -€13,484 | -26.7% |
| Amounts payable within one year | 42/48 | €74,255 | €77,045 | +€2,790 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €28,610 | €29,762 | +€1,152 | +4.0% |
| Trade debts | 44 | €17,779 | €22,335 | +€4,557 | +25.6% |
| Suppliers | 440/4 | €17,779 | €22,335 | +€4,557 | +25.6% |
| Advances received on contracts in progress | 46 | €1,164 | €1,881 | +€717 | +61.5% |
| Taxes, remuneration and social security | 45 | €22,329 | €19,084 | -€3,245 | -14.5% |
| Taxes | 450/3 | €7,712 | €6,814 | -€899 | -11.7% |
| Remuneration and social security | 454/9 | €14,617 | €12,271 | -€2,346 | -16.1% |
| Other amounts payable | 47/48 | €4,373 | €3,982 | -€391 | -8.9% |
| Non-recurring operating income | 76A | €400 | €0 | -€400 | -100.0% |
| Remuneration, social security and pensions | 62 | €105,369 | €94,973 | -€10,396 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,876 | €49,739 | -€2,137 | -4.1% |
| Other operating charges | 640/8 | €7,471 | €8,289 | +€818 | +10.9% |
| Non-recurring operating charges | 66A | €1,393 | €0 | -€1,393 | -100.0% |
| Gross operating margin | 9900 | €134,020 | €135,501 | +€1,482 | +1.1% |
| Operating profit (loss) | 9901 | -€32,089 | -€17,499 | +€14,590 | +45.5% |
| Financial income | 75/76B | €21 | €205 | +€184 | +895.5% |
| Recurring financial income | 75 | €21 | €205 | +€184 | +895.5% |
| Financial charges | 65/66B | €3,110 | €3,385 | +€275 | +8.8% |
| Recurring financial charges | 65 | €3,110 | €3,385 | +€275 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | -€35,179 | -€20,680 | +€14,499 | +41.2% |
| Income taxes | 67/77 | €195 | €245 | +€50 | +25.9% |
| Profit (loss) for the period | 9904 | -€35,374 | -€20,925 | +€14,449 | +40.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,374 | -€20,925 | +€14,449 | +40.8% |
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 10 October 2026 via checked.be.