KIFARU: 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.
KIFARU
Largest movements
- Cash -€12,737
down €12,737 (-8.4%), from €151,211 to €138,474
mainly Contributions, distributions and other (-€51,314) and Receivables within one year (-€3,760)
- Deferred charges and accrued income -€3,818
down €3,818 (-76.2%), from €5,013 to €1,195
- Receivables within one year +€3,760
up €3,760 (+25.2%), from €14,895 to €18,655
of which Trade receivables: +€3,230
- Reserves -€14,191
down €14,191 (-10.4%), from €136,312 to €122,121
of which Distributable reserves: -€14,191
- Trade debts +€1,950
up €1,950 (+34.7%), from €5,618 to €7,568
- Gross operating margin -€2,248
down €2,248 (-4.1%), from €55,191 to €52,943
- Financial income +€650
up €650 (+80.2%), from €810 to €1,460
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 | €174,164 | €159,988 | -€14,176 | -8.1% |
| Fixed assets | 21/28 | €3,045 | €1,664 | -€1,381 | -45.4% |
| Tangible fixed assets | 22/27 | €3,045 | €1,664 | -€1,381 | -45.4% |
| Plant, machinery and equipment | 23 | €1,086 | €753 | -€333 | -30.7% |
| Furniture and vehicles | 24 | €1,959 | €911 | -€1,048 | -53.5% |
| Current assets | 29/58 | €171,119 | €158,324 | -€12,795 | -7.5% |
| Amounts receivable within one year | 40/41 | €14,895 | €18,655 | +€3,760 | +25.2% |
| Trade receivables | 40 | €12,887 | €16,117 | +€3,230 | +25.1% |
| Other amounts receivable | 41 | €2,008 | €2,538 | +€530 | +26.4% |
| Cash at bank and in hand | 54/58 | €151,211 | €138,474 | -€12,737 | -8.4% |
| Deferred charges and accrued income | 490/1 | €5,013 | €1,195 | -€3,818 | -76.2% |
| Total equity and liabilities | 10/49 | €174,164 | €159,988 | -€14,176 | -8.1% |
| Equity | 10/15 | €155,309 | €141,118 | -€14,191 | -9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €136,312 | €122,121 | -€14,191 | -10.4% |
| 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 | €134,452 | €120,261 | -€14,191 | -10.6% |
| Profit (loss) carried forward | 14 | €397 | €397 | = | 0.0% |
| Amounts payable | 17/49 | €18,855 | €18,870 | +€15 | +0.1% |
| Amounts payable within one year | 42/48 | €18,855 | €18,870 | +€15 | +0.1% |
| Trade debts | 44 | €5,618 | €7,568 | +€1,950 | +34.7% |
| Suppliers | 440/4 | €5,618 | €7,568 | +€1,950 | +34.7% |
| Taxes, remuneration and social security | 45 | €11,626 | €10,286 | -€1,340 | -11.5% |
| Taxes | 450/3 | €11,626 | €10,286 | -€1,340 | -11.5% |
| Other amounts payable | 47/48 | €1,611 | €1,016 | -€595 | -36.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,381 | €1,381 | = | 0.0% |
| Other operating charges | 640/8 | €1,050 | €1,076 | +€26 | +2.5% |
| Gross operating margin | 9900 | €55,191 | €52,943 | -€2,248 | -4.1% |
| Operating profit (loss) | 9901 | €52,760 | €50,486 | -€2,274 | -4.3% |
| Financial income | 75/76B | €810 | €1,460 | +€650 | +80.2% |
| Recurring financial income | 75 | €810 | €1,460 | +€650 | +80.2% |
| Financial charges | 65/66B | €54 | €55 | +€1 | +1.9% |
| Recurring financial charges | 65 | €54 | €55 | +€1 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €53,516 | €51,891 | -€1,625 | -3.0% |
| Income taxes | 67/77 | €15,168 | €14,768 | -€400 | -2.6% |
| Profit (loss) for the period | 9904 | €38,348 | €37,123 | -€1,225 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €38,348 | €37,123 | -€1,225 | -3.2% |
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 13 October 2026 via checked.be.