KIMINVEST: 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.
KIMINVEST
Largest movements
- Current investments +€117,919
up €117,919 (+4.1%), from €2.9m to €3.0m
- Cash +€88,238
up €88,238 (+33.3%), from €264,984 to €353,222
mainly Net result for the year (+€103,584) and Depreciation (+€62,906)
- Tangible fixed assets -€62,906
down €62,906 (-3.3%), from €1.9m to €1.9m
of which Land and buildings: -€57,239
- Reserves +€100,440
up €100,440 (+3.1%), from €3.2m to €3.3m
of which Distributable reserves: +€113,000
- Gross operating margin +€41,982
up €41,982 (+17.2%), from €244,709 to €286,690
- Financial income -€21,399
down €21,399 (-95.9%), from €22,313 to €914
- Depreciation -€9,737
down €9,737 (-13.4%), from €72,642 to €62,906
- Taxes +€6,530
up €6,530 (+18.5%), from €35,344 to €41,874
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 | €5,105,240 | €5,227,242 | +€122,001 | +2.4% |
| Fixed assets | 21/28 | €1,924,319 | €1,861,336 | -€62,983 | -3.3% |
| Tangible fixed assets | 22/27 | €1,924,242 | €1,861,336 | -€62,906 | -3.3% |
| Land and buildings | 22 | €1,906,575 | €1,849,336 | -€57,239 | -3.0% |
| Furniture and vehicles | 24 | €5,667 | - | -€5,667 | |
| Other tangible fixed assets | 26 | €12,000 | €12,000 | = | 0.0% |
| Financial fixed assets | 28 | €78 | - | -€78 | |
| Current assets | 29/58 | €3,180,921 | €3,365,906 | +€184,985 | +5.8% |
| Amounts receivable within one year | 40/41 | €23,291 | - | -€23,291 | |
| Trade receivables | 40 | €2,638 | - | -€2,638 | |
| Other amounts receivable | 41 | €20,654 | - | -€20,654 | |
| Current investments | 50/53 | €2,890,979 | €3,008,898 | +€117,919 | +4.1% |
| Cash at bank and in hand | 54/58 | €264,984 | €353,222 | +€88,238 | +33.3% |
| Deferred charges and accrued income | 490/1 | €1,666 | €3,785 | +€2,119 | +127% |
| Total equity and liabilities | 10/49 | €5,105,240 | €5,227,242 | +€122,001 | +2.4% |
| Equity | 10/15 | €4,021,702 | €4,123,620 | +€101,918 | +2.5% |
| Contributions | 10/11 | €772,500 | €772,500 | = | 0.0% |
| Capital | 10 | €772,500 | €772,500 | = | 0.0% |
| Issued capital | 100 | €772,500 | €772,500 | = | 0.0% |
| Reserves | 13 | €3,249,041 | €3,349,480 | +€100,440 | +3.1% |
| Tax-exempt reserves | 132 | €317,041 | €304,480 | -€12,560 | -4.0% |
| Distributable reserves | 133 | €2,932,000 | €3,045,000 | +€113,000 | +3.9% |
| Profit (loss) carried forward | 14 | €162 | €1,640 | +€1,478 | +915% |
| Provisions and deferred taxes | 16 | €141,751 | €136,133 | -€5,618 | -4.0% |
| Deferred taxes | 168 | €141,751 | €136,133 | -€5,618 | -4.0% |
| Amounts payable | 17/49 | €941,787 | €967,488 | +€25,702 | +2.7% |
| Amounts payable after more than one year | 17 | €914,831 | €914,831 | = | 0.0% |
| Other amounts payable | 178/9 | €914,831 | €914,831 | = | 0.0% |
| Amounts payable within one year | 42/48 | €26,956 | €52,658 | +€25,702 | +95.3% |
| Trade debts | 44 | €501 | €968 | +€467 | +93.2% |
| Suppliers | 440/4 | €501 | €968 | +€467 | +93.2% |
| Taxes, remuneration and social security | 45 | €15,702 | €33,070 | +€17,367 | +111% |
| Taxes | 450/3 | €15,702 | €33,070 | +€17,367 | +111% |
| Other amounts payable | 47/48 | €10,753 | €18,621 | +€7,868 | +73.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,642 | €62,906 | -€9,737 | -13.4% |
| Other operating charges | 640/8 | €29,884 | €31,619 | +€1,735 | +5.8% |
| Gross operating margin | 9900 | €244,709 | €286,690 | +€41,982 | +17.2% |
| Operating profit (loss) | 9901 | €142,182 | €192,165 | +€49,983 | +35.2% |
| Financial income | 75/76B | €22,313 | €914 | -€21,399 | -95.9% |
| Recurring financial income | 75 | €22,313 | €914 | -€21,399 | -95.9% |
| Financial charges | 65/66B | €52,594 | €53,239 | +€645 | +1.2% |
| Recurring financial charges | 65 | €52,594 | €53,239 | +€645 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €111,900 | €139,840 | +€27,940 | +25.0% |
| Transfer from deferred taxes | 780 | €5,618 | €5,618 | = | 0.0% |
| Income taxes | 67/77 | €35,344 | €41,874 | +€6,530 | +18.5% |
| Profit (loss) for the period | 9904 | €82,174 | €103,584 | +€21,410 | +26.1% |
| Transfer from tax-exempt reserves | 789 | €12,560 | €12,560 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €94,734 | €116,144 | +€21,410 | +22.6% |
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 20 October 2026 via checked.be.