KINCO: what changed
Two fiscal 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.
KINCO
Largest movements
- Tangible fixed assets -€27,687
down €27,687 (-8.5%), from €323,992 to €296,304
of which Land and buildings: -€26,933
- Current investments +€13,584
up €13,584 (+26.4%), from €51,416 to €65,000
- Cash -€6,273
down €6,273 (-20.9%), from €29,970 to €23,697
mainly Debts after one year (-€27,368) and Current investments (-€13,584)
- Debts after one year -€27,368
down €27,368 (-12.8%), from €213,477 to €186,109
- Reserves +€16,747
up €16,747 (+11.9%), from €140,462 to €157,209
- Tax, wage and social debts -€4,523
down €4,523 (-38.4%), from €11,772 to €7,249
- Gross operating margin +€10,510
up €10,510 (+16.4%), from €63,896 to €74,405
- Taxes +€2,916
up €2,916 (+32.8%), from €8,880 to €11,796
- Financial charges -€793
down €793 (-15.6%), from €5,086 to €4,294
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 | €419,860 | €402,586 | -€17,274 | -4.1% |
| Fixed assets | 21/28 | €323,992 | €296,304 | -€27,687 | -8.5% |
| Tangible fixed assets | 22/27 | €323,992 | €296,304 | -€27,687 | -8.5% |
| Land and buildings | 22 | €322,346 | €295,414 | -€26,933 | -8.4% |
| Plant, machinery and equipment | 23 | €1,646 | €891 | -€755 | -45.9% |
| Current assets | 29/58 | €95,868 | €106,282 | +€10,414 | +10.9% |
| Amounts receivable within one year | 40/41 | €14,482 | €17,585 | +€3,103 | +21.4% |
| Trade receivables | 40 | €14,482 | €12,719 | -€1,763 | -12.2% |
| Other amounts receivable | 41 | - | €4,866 | +€4,866 | |
| Current investments | 50/53 | €51,416 | €65,000 | +€13,584 | +26.4% |
| Cash at bank and in hand | 54/58 | €29,970 | €23,697 | -€6,273 | -20.9% |
| Total equity and liabilities | 10/49 | €419,860 | €402,586 | -€17,274 | -4.1% |
| Equity | 10/15 | €159,062 | €175,809 | +€16,747 | +10.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €140,462 | €157,209 | +€16,747 | +11.9% |
| Distributable reserves | 133 | €140,462 | €157,209 | +€16,747 | +11.9% |
| Amounts payable | 17/49 | €260,797 | €226,777 | -€34,021 | -13.0% |
| Amounts payable after more than one year | 17 | €213,477 | €186,109 | -€27,368 | -12.8% |
| Financial debts | 170/4 | €213,477 | €186,109 | -€27,368 | -12.8% |
| Amounts payable within one year | 42/48 | €47,320 | €40,667 | -€6,653 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €27,018 | €27,368 | +€350 | +1.3% |
| Trade debts | 44 | €3,702 | €4,261 | +€559 | +15.1% |
| Suppliers | 440/4 | €3,702 | €4,261 | +€559 | +15.1% |
| Taxes, remuneration and social security | 45 | €11,772 | €7,249 | -€4,523 | -38.4% |
| Taxes | 450/3 | €11,772 | €7,249 | -€4,523 | -38.4% |
| Other amounts payable | 47/48 | €4,829 | €1,790 | -€3,039 | -62.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,950 | €27,687 | -€262 | -0.9% |
| Other operating charges | 640/8 | €4,677 | €4,640 | -€38 | -0.8% |
| Gross operating margin | 9900 | €63,896 | €74,405 | +€10,510 | +16.4% |
| Operating profit (loss) | 9901 | €31,268 | €42,078 | +€10,809 | +34.6% |
| Financial income | 75/76B | €1,205 | €824 | -€381 | -31.6% |
| Recurring financial income | 75 | €1,205 | €824 | -€381 | -31.6% |
| Financial charges | 65/66B | €5,086 | €4,294 | -€793 | -15.6% |
| Recurring financial charges | 65 | €5,086 | €4,294 | -€793 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €27,387 | €38,608 | +€11,221 | +41.0% |
| Income taxes | 67/77 | €8,880 | €11,796 | +€2,916 | +32.8% |
| Profit (loss) for the period | 9904 | €18,508 | €26,812 | +€8,305 | +44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,508 | €26,812 | +€8,305 | +44.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.