KINE ALAERTS: 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.
KINE ALAERTS
Largest movements
- Current investments +€101,200
up €101,200 (+28.9%), from €350,162 to €451,362
- Cash -€23,560
down €23,560 (-39.3%), from €59,872 to €36,313
mainly Current investments (-€101,200) and Receivables within one year (-€9,010)
- Tangible fixed assets -€21,542
down €21,542 (-18.8%), from €114,384 to €92,842
- Receivables within one year +€9,010
up €9,010 (+58.0%), from €15,542 to €24,552
of which Trade receivables: +€9,005
- Reserves +€62,077
up €62,077 (+13.6%), from €455,227 to €517,303
- Gross operating margin +€12,685
up €12,685 (+13.0%), from €97,578 to €110,263
- Taxes +€6,430
up €6,430 (+27.3%), from €23,549 to €29,979
- Financial income +€4,509
up €4,509 (+105%), from €4,311 to €8,820
- Depreciation -€3,388
down €3,388 (-13.6%), from €24,930 to €21,542
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 | €542,097 | €605,111 | +€63,014 | +11.6% |
| Fixed assets | 21/28 | €114,384 | €92,842 | -€21,542 | -18.8% |
| Tangible fixed assets | 22/27 | €114,384 | €92,842 | -€21,542 | -18.8% |
| Land and buildings | 22 | €16,775 | €15,030 | -€1,745 | -10.4% |
| Plant, machinery and equipment | 23 | €53,603 | €44,554 | -€9,049 | -16.9% |
| Furniture and vehicles | 24 | €43,815 | €33,258 | -€10,557 | -24.1% |
| Other tangible fixed assets | 26 | €191 | - | -€191 | |
| Current assets | 29/58 | €427,713 | €512,269 | +€84,556 | +19.8% |
| Amounts receivable within one year | 40/41 | €15,542 | €24,552 | +€9,010 | +58.0% |
| Trade receivables | 40 | €15,542 | €24,547 | +€9,005 | +57.9% |
| Other amounts receivable | 41 | - | €5 | +€5 | |
| Current investments | 50/53 | €350,162 | €451,362 | +€101,200 | +28.9% |
| Cash at bank and in hand | 54/58 | €59,872 | €36,313 | -€23,560 | -39.3% |
| Deferred charges and accrued income | 490/1 | €2,137 | €43 | -€2,094 | -98.0% |
| Total equity and liabilities | 10/49 | €542,097 | €605,111 | +€63,014 | +11.6% |
| Equity | 10/15 | €467,627 | €529,703 | +€62,077 | +13.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €455,227 | €517,303 | +€62,077 | +13.6% |
| Distributable reserves | 133 | €455,227 | €517,303 | +€62,077 | +13.6% |
| Amounts payable | 17/49 | €74,471 | €75,408 | +€937 | +1.3% |
| Amounts payable within one year | 42/48 | €74,471 | €75,408 | +€937 | +1.3% |
| Financial debts | 43 | - | €760 | +€760 | |
| Credit institutions | 430/8 | - | €760 | +€760 | |
| Trade debts | 44 | €942 | €4 | -€937 | -99.5% |
| Suppliers | 440/4 | €942 | €4 | -€937 | -99.5% |
| Taxes, remuneration and social security | 45 | €8,692 | €6,786 | -€1,906 | -21.9% |
| Taxes | 450/3 | €8,692 | €6,786 | -€1,906 | -21.9% |
| Other amounts payable | 47/48 | €64,836 | €67,857 | +€3,021 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,930 | €21,542 | -€3,388 | -13.6% |
| Other operating charges | 640/8 | €772 | €514 | -€259 | -33.5% |
| Gross operating margin | 9900 | €97,578 | €110,263 | +€12,685 | +13.0% |
| Operating profit (loss) | 9901 | €71,876 | €88,207 | +€16,331 | +22.7% |
| Financial income | 75/76B | €4,311 | €8,820 | +€4,509 | +105% |
| Recurring financial income | 75 | €4,311 | €8,820 | +€4,509 | +105% |
| Financial charges | 65/66B | €4,061 | €4,971 | +€910 | +22.4% |
| Recurring financial charges | 65 | €4,061 | €4,971 | +€910 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | €72,126 | €92,056 | +€19,930 | +27.6% |
| Income taxes | 67/77 | €23,549 | €29,979 | +€6,430 | +27.3% |
| Profit (loss) for the period | 9904 | €48,577 | €62,077 | +€13,500 | +27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €48,577 | €62,077 | +€13,500 | +27.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.