KINE BULTOT: 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 BULTOT
Largest movements
- Tangible fixed assets -€12,058
down €12,058 (-23.5%), from €51,295 to €39,237
of which Furniture and vehicles: -€12,732
- Cash +€7,627
up €7,627 (+6.2%), from €122,693 to €130,319
mainly Other debts (+€33,877) and Net result for the year (+€25,874)
- Other debts +€33,877
up €33,877 (+148%), from €22,873 to €56,750
- Reserves -€33,575
down €33,575 (-26.9%), from €124,795 to €91,220
- Debts after one year -€9,366
down €9,366 (-41.9%), from €22,377 to €13,012
- Tax, wage and social debts +€5,524
up €5,524 (+119%), from €4,625 to €10,148
- Gross operating margin +€22,020
up €22,020 (+71.4%), from €30,846 to €52,866
- Taxes +€6,037
up €6,037 (+116%), from €5,205 to €11,241
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 | €192,743 | €188,612 | -€4,130 | -2.1% |
| Fixed assets | 21/28 | €51,295 | €39,262 | -€12,033 | -23.5% |
| Tangible fixed assets | 22/27 | €51,295 | €39,237 | -€12,058 | -23.5% |
| Plant, machinery and equipment | 23 | €1,753 | €3,820 | +€2,067 | +118% |
| Furniture and vehicles | 24 | €39,822 | €27,090 | -€12,732 | -32.0% |
| Other tangible fixed assets | 26 | €9,720 | €8,327 | -€1,393 | -14.3% |
| Financial fixed assets | 28 | - | €25 | +€25 | |
| Current assets | 29/58 | €141,448 | €149,350 | +€7,903 | +5.6% |
| Amounts receivable within one year | 40/41 | €9,241 | €8,991 | -€251 | -2.7% |
| Trade receivables | 40 | €4,426 | €8,991 | +€4,565 | +103% |
| Other amounts receivable | 41 | €4,815 | - | -€4,815 | |
| Cash at bank and in hand | 54/58 | €122,693 | €130,319 | +€7,627 | +6.2% |
| Deferred charges and accrued income | 490/1 | €9,513 | €10,040 | +€527 | +5.5% |
| Total equity and liabilities | 10/49 | €192,743 | €188,612 | -€4,130 | -2.1% |
| Equity | 10/15 | €132,855 | €99,280 | -€33,575 | -25.3% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €124,795 | €91,220 | -€33,575 | -26.9% |
| Distributable reserves | 133 | €124,795 | €91,220 | -€33,575 | -26.9% |
| Amounts payable | 17/49 | €59,888 | €89,332 | +€29,444 | +49.2% |
| Amounts payable after more than one year | 17 | €22,377 | €13,012 | -€9,366 | -41.9% |
| Financial debts | 170/4 | €22,377 | €13,012 | -€9,366 | -41.9% |
| Amounts payable within one year | 42/48 | €37,510 | €76,320 | +€38,810 | +103% |
| Current portion of amounts payable after more than one year | 42 | €9,041 | €9,366 | +€324 | +3.6% |
| Trade debts | 44 | €971 | €56 | -€915 | -94.2% |
| Suppliers | 440/4 | €971 | €56 | -€915 | -94.2% |
| Taxes, remuneration and social security | 45 | €4,625 | €10,148 | +€5,524 | +119% |
| Taxes | 450/3 | €4,625 | €10,148 | +€5,524 | +119% |
| Other amounts payable | 47/48 | €22,873 | €56,750 | +€33,877 | +148% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,277 | €14,533 | +€257 | +1.8% |
| Other operating charges | 640/8 | €544 | €556 | +€12 | +2.3% |
| Gross operating margin | 9900 | €30,846 | €52,866 | +€22,020 | +71.4% |
| Operating profit (loss) | 9901 | €16,026 | €37,777 | +€21,751 | +136% |
| Financial income | 75/76B | €411 | €635 | +€224 | +54.5% |
| Recurring financial income | 75 | €411 | €635 | +€224 | +54.5% |
| Financial charges | 65/66B | €1,419 | €1,297 | -€122 | -8.6% |
| Recurring financial charges | 65 | €1,419 | €1,297 | -€122 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €15,019 | €37,116 | +€22,097 | +147% |
| Income taxes | 67/77 | €5,205 | €11,241 | +€6,037 | +116% |
| Profit (loss) for the period | 9904 | €9,814 | €25,874 | +€16,060 | +164% |
| Profit (loss) for the period to be appropriated | 9905 | €9,814 | €25,874 | +€16,060 | +164% |
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 29 October 2026 via checked.be.