KINAOS: 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.
KINAOS
Largest movements
- Current investments +€15,175
up €15,175 (+77.9%), from €19,479 to €34,653
- Tangible fixed assets -€14,667
down €14,667 (-37.6%), from €38,991 to €24,324
of which Furniture and vehicles: -€9,206
- Intangible fixed assets -€2,000
down €2,000 (-66.7%), from €3,000 to €1,000
- Reserves +€19,878
up €19,878 (+34.9%), from €56,935 to €76,812
- Debts after one year -€11,591
down €11,591 (-82.1%), from €14,115 to €2,524
- Other debts -€5,563
down €5,563 (-45.0%), from €12,353 to €6,791
- Current portion of long-term debt -€2,096
down €2,096 (-15.3%), from €13,688 to €11,591
- Gross operating margin +€10,825
up €10,825 (+22.6%), from €47,914 to €58,739
- Taxes +€2,173
up €2,173 (+35.3%), from €6,164 to €8,337
- Depreciation -€2,097
down €2,097 (-10.7%), from €19,615 to €17,518
- Financial charges -€1,053
down €1,053 (-62.2%), from €1,694 to €641
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 | €155,977 | €156,373 | +€396 | +0.3% |
| Fixed assets | 21/28 | €42,066 | €25,399 | -€16,667 | -39.6% |
| Intangible fixed assets | 21 | €3,000 | €1,000 | -€2,000 | -66.7% |
| Tangible fixed assets | 22/27 | €38,991 | €24,324 | -€14,667 | -37.6% |
| Plant, machinery and equipment | 23 | €12,955 | €7,495 | -€5,461 | -42.1% |
| Furniture and vehicles | 24 | €26,036 | €16,829 | -€9,206 | -35.4% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €113,911 | €130,974 | +€17,063 | +15.0% |
| Amounts receivable within one year | 40/41 | €24,418 | €25,656 | +€1,238 | +5.1% |
| Trade receivables | 40 | €22,361 | €25,656 | +€3,295 | +14.7% |
| Other amounts receivable | 41 | €2,057 | - | -€2,057 | |
| Current investments | 50/53 | €19,479 | €34,653 | +€15,175 | +77.9% |
| Cash at bank and in hand | 54/58 | €67,625 | €68,056 | +€431 | +0.6% |
| Deferred charges and accrued income | 490/1 | €2,389 | €2,608 | +€219 | +9.2% |
| Total equity and liabilities | 10/49 | €155,977 | €156,373 | +€396 | +0.3% |
| Equity | 10/15 | €115,401 | €135,279 | +€19,878 | +17.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €56,935 | €76,812 | +€19,878 | +34.9% |
| Distributable reserves | 133 | €56,935 | €76,812 | +€19,878 | +34.9% |
| Profit (loss) carried forward | 14 | €52,266 | €52,266 | = | 0.0% |
| Amounts payable | 17/49 | €40,576 | €21,094 | -€19,482 | -48.0% |
| Amounts payable after more than one year | 17 | €14,115 | €2,524 | -€11,591 | -82.1% |
| Financial debts | 170/4 | €14,115 | €2,524 | -€11,591 | -82.1% |
| Amounts payable within one year | 42/48 | €26,460 | €18,570 | -€7,890 | -29.8% |
| Current portion of amounts payable after more than one year | 42 | €13,688 | €11,591 | -€2,096 | -15.3% |
| Trade debts | 44 | €419 | - | -€419 | |
| Suppliers | 440/4 | €419 | - | -€419 | |
| Taxes, remuneration and social security | 45 | €0 | €188 | +€188 | +117431.3% |
| Taxes | 450/3 | €0 | €188 | +€188 | +117431.3% |
| Other amounts payable | 47/48 | €12,353 | €6,791 | -€5,563 | -45.0% |
| Non-recurring operating income | 76A | €0 | €0 | +€0 | +100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,615 | €17,518 | -€2,097 | -10.7% |
| Other operating charges | 640/8 | €6,658 | €6,873 | +€214 | +3.2% |
| Non-recurring operating charges | 66A | €45 | €8 | -€37 | -81.3% |
| Gross operating margin | 9900 | €47,914 | €58,739 | +€10,825 | +22.6% |
| Operating profit (loss) | 9901 | €21,596 | €34,340 | +€12,744 | +59.0% |
| Financial income | 75/76B | €737 | €516 | -€221 | -30.0% |
| Recurring financial income | 75 | €737 | €516 | -€221 | -30.0% |
| Financial charges | 65/66B | €1,694 | €641 | -€1,053 | -62.2% |
| Recurring financial charges | 65 | €1,694 | €641 | -€1,053 | -62.2% |
| Profit (loss) for the period before taxes | 9903 | €20,638 | €34,215 | +€13,576 | +65.8% |
| Income taxes | 67/77 | €6,164 | €8,337 | +€2,173 | +35.3% |
| Profit (loss) for the period | 9904 | €14,475 | €25,878 | +€11,403 | +78.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,475 | €25,878 | +€11,403 | +78.8% |
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 11 October 2026 via checked.be.