KIGUNA: 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.
KIGUNA
Largest movements
- Tangible fixed assets -€108,866
down €108,866 (-2.6%), from €4.1m to €4.0m
- Debts after one year -€355,764
down €355,764 (-12.6%), from €2.8m to €2.5m
of which Financial debts: -€388,042
- Reserves +€137,114
up €137,114 (+19.8%), from €691,571 to €828,685
of which Distributable reserves: +€137,114
- Advances received +€78,755
up €78,755 (+35.1%), from €224,684 to €303,439
- Gross operating margin +€39,823
up €39,823 (+7.9%), from €502,596 to €542,419
- Taxes +€13,592
up €13,592 (+41.6%), from €32,638 to €46,230
- Financial charges -€11,137
down €11,137 (-8.5%), from €131,345 to €120,208
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 | €4,217,733 | €4,114,915 | -€102,819 | -2.4% |
| Fixed assets | 21/28 | €4,141,319 | €4,032,452 | -€108,866 | -2.6% |
| Tangible fixed assets | 22/27 | €4,141,319 | €4,032,452 | -€108,866 | -2.6% |
| Land and buildings | 22 | €4,141,319 | €4,032,452 | -€108,866 | -2.6% |
| Current assets | 29/58 | €76,415 | €82,462 | +€6,048 | +7.9% |
| Amounts receivable within one year | 40/41 | €67,563 | €77,064 | +€9,501 | +14.1% |
| Trade receivables | 40 | €32,285 | €67,514 | +€35,229 | +109.1% |
| Other amounts receivable | 41 | €35,279 | €9,550 | -€25,728 | -72.9% |
| Cash at bank and in hand | 54/58 | €6,231 | €2,463 | -€3,768 | -60.5% |
| Deferred charges and accrued income | 490/1 | €2,621 | €2,936 | +€315 | +12.0% |
| Total equity and liabilities | 10/49 | €4,217,733 | €4,114,915 | -€102,819 | -2.4% |
| Equity | 10/15 | €764,568 | €901,682 | +€137,114 | +17.9% |
| Contributions | 10/11 | €72,996 | €72,996 | = | 0.0% |
| Reserves | 13 | €691,571 | €828,685 | +€137,114 | +19.8% |
| Non-distributable reserves | 130/1 | €7,300 | €7,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,300 | €7,300 | = | 0.0% |
| Distributable reserves | 133 | €684,271 | €821,385 | +€137,114 | +20.0% |
| Amounts payable | 17/49 | €3,453,166 | €3,213,233 | -€239,933 | -6.9% |
| Amounts payable after more than one year | 17 | €2,830,979 | €2,475,215 | -€355,764 | -12.6% |
| Financial debts | 170/4 | €2,295,859 | €1,907,817 | -€388,042 | -16.9% |
| Other amounts payable | 178/9 | €535,120 | €567,398 | +€32,278 | +6.0% |
| Amounts payable within one year | 42/48 | €622,187 | €738,018 | +€115,831 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €376,098 | €388,027 | +€11,929 | +3.2% |
| Trade debts | 44 | €8,539 | €363 | -€8,176 | -95.7% |
| Suppliers | 440/4 | €8,539 | €363 | -€8,176 | -95.7% |
| Advances received on contracts in progress | 46 | €224,684 | €303,439 | +€78,755 | +35.1% |
| Taxes, remuneration and social security | 45 | €12,865 | €46,189 | +€33,323 | +259.0% |
| Taxes | 450/3 | €12,865 | €46,189 | +€33,323 | +259.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €205,965 | €202,512 | -€3,454 | -1.7% |
| Other operating charges | 640/8 | €34,732 | €36,354 | +€1,622 | +4.7% |
| Gross operating margin | 9900 | €502,596 | €542,419 | +€39,823 | +7.9% |
| Operating profit (loss) | 9901 | €261,899 | €303,552 | +€41,654 | +15.9% |
| Financial charges | 65/66B | €131,345 | €120,208 | -€11,137 | -8.5% |
| Recurring financial charges | 65 | €131,345 | €120,208 | -€11,137 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €130,553 | €183,344 | +€52,791 | +40.4% |
| Income taxes | 67/77 | €32,638 | €46,230 | +€13,592 | +41.6% |
| Profit (loss) for the period | 9904 | €97,915 | €137,114 | +€39,199 | +40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €97,915 | €137,114 | +€39,199 | +40.0% |
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.