KINCON: 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.
KINCON
Largest movements
- Cash -€260,427
down €260,427 (-53.6%), from €485,928 to €225,501
mainly Contributions, distributions and other (-€793,973) and Current investments (-€179,235)
- Current investments +€179,235
up €179,235 (+63.1%), from €283,877 to €463,112
- Receivables within one year +€23,034
new in 2025: €23,034
of which Trade receivables: +€21,664
- Deferred charges and accrued income +€10,000
new in 2025: €10,000
- Reserves -€562,850
down €562,850 (-85.4%), from €658,973 to €96,124
- Other debts +€440,845
up €440,845 (+7616.3%), from €5,788 to €446,633
- Debts after one year +€178,092
new in 2025: €178,092
- Tax, wage and social debts -€99,704
down €99,704 (-95.3%), from €104,614 to €4,910
of which Taxes: -€99,704
- Gross operating margin -€121,104
down €121,104 (-33.0%), from €366,669 to €245,565
- Financial income +€22,518
up €22,518 (+50.1%), from €44,968 to €67,487
- Taxes -€19,400
down €19,400 (-19.8%), from €98,030 to €78,630
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 | €777,185 | €731,459 | -€45,725 | -5.9% |
| Fixed assets | 21/28 | €7,380 | €9,813 | +€2,433 | +33.0% |
| Tangible fixed assets | 22/27 | €7,380 | €9,813 | +€2,433 | +33.0% |
| Plant, machinery and equipment | 23 | €1,176 | €876 | -€300 | -25.5% |
| Furniture and vehicles | 24 | €4,137 | €7,116 | +€2,978 | +72.0% |
| Other tangible fixed assets | 26 | €2,066 | €1,821 | -€246 | -11.9% |
| Current assets | 29/58 | €769,805 | €721,646 | -€48,158 | -6.3% |
| Amounts receivable within one year | 40/41 | - | €23,034 | +€23,034 | |
| Trade receivables | 40 | - | €21,664 | +€21,664 | |
| Other amounts receivable | 41 | - | €1,370 | +€1,370 | |
| Current investments | 50/53 | €283,877 | €463,112 | +€179,235 | +63.1% |
| Cash at bank and in hand | 54/58 | €485,928 | €225,501 | -€260,427 | -53.6% |
| Deferred charges and accrued income | 490/1 | - | €10,000 | +€10,000 | |
| Total equity and liabilities | 10/49 | €777,185 | €731,459 | -€45,725 | -5.9% |
| Equity | 10/15 | €662,973 | €100,124 | -€562,850 | -84.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €658,973 | €96,124 | -€562,850 | -85.4% |
| Distributable reserves | 133 | €658,973 | €96,124 | -€562,850 | -85.4% |
| Amounts payable | 17/49 | €114,211 | €631,336 | +€517,124 | +452.8% |
| Amounts payable after more than one year | 17 | - | €178,092 | +€178,092 | |
| Financial debts | 170/4 | - | €178,092 | +€178,092 | |
| Amounts payable within one year | 42/48 | €114,211 | €453,244 | +€339,032 | +296.8% |
| Trade debts | 44 | €3,809 | €1,701 | -€2,108 | -55.3% |
| Suppliers | 440/4 | €3,809 | €1,701 | -€2,108 | -55.3% |
| Taxes, remuneration and social security | 45 | €104,614 | €4,910 | -€99,704 | -95.3% |
| Taxes | 450/3 | €101,236 | €1,531 | -€99,704 | -98.5% |
| Remuneration and social security | 454/9 | €3,378 | €3,378 | = | 0.0% |
| Other amounts payable | 47/48 | €5,788 | €446,633 | +€440,845 | +7616.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,140 | €2,147 | +€8 | +0.4% |
| Other operating charges | 640/8 | €627 | €1,043 | +€416 | +66.3% |
| Gross operating margin | 9900 | €366,669 | €245,565 | -€121,104 | -33.0% |
| Operating profit (loss) | 9901 | €363,902 | €242,375 | -€121,527 | -33.4% |
| Financial income | 75/76B | €44,968 | €67,487 | +€22,518 | +50.1% |
| Recurring financial income | 75 | €44,968 | €67,487 | +€22,518 | +50.1% |
| Financial charges | 65/66B | €532 | €108 | -€424 | -79.7% |
| Recurring financial charges | 65 | €532 | €108 | -€424 | -79.7% |
| Profit (loss) for the period before taxes | 9903 | €408,339 | €309,754 | -€98,585 | -24.1% |
| Income taxes | 67/77 | €98,030 | €78,630 | -€19,400 | -19.8% |
| Profit (loss) for the period | 9904 | €310,308 | €231,124 | -€79,185 | -25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €310,308 | €231,124 | -€79,185 | -25.5% |
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.