KINE DAW: 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 DAW
Largest movements
- Receivables within one year +€16,574
up €16,574 (+201%), from €8,261 to €24,835
of which Other amounts receivable: +€14,574
- Tangible fixed assets +€13,838
up €13,838 (+10.8%), from €128,623 to €142,461
of which Furniture and vehicles: +€9,139
- Cash +€9,906
up €9,906 (+60.2%), from €16,466 to €26,372
mainly Net result for the year (+€37,982) and Tax, wage and social debts (+€10,144)
- Deferred charges and accrued income -€6,603
down €6,603 (-98.9%), from €6,676 to €73
- Reserves +€37,840
new in 2025: €37,840
- Debts after one year -€10,893
down €10,893 (-9.7%), from €112,822 to €101,930
- Tax, wage and social debts +€10,144
new in 2025: €10,144
- Other debts -€7,596
no longer reported in 2025 (was €7,596)
- Current portion of long-term debt +€7,087
up €7,087 (+51.3%), from €13,805 to €20,893
- Gross operating margin +€59,446
up €59,446 (+533%), from €11,145 to €70,591
- Taxes +€17,849
up €17,849 (+778%), from €2,295 to €20,144
- Financial charges +€4,266
up €4,266 (+193%), from €2,212 to €6,478
- Staff costs +€1,808
up €1,808 (+583%), from €310 to €2,118
- Other operating charges -€1,091
down €1,091 (-27.4%), from €3,986 to €2,895
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 | €160,026 | €193,741 | +€33,715 | +21.1% |
| Fixed assets | 21/28 | €128,623 | €142,461 | +€13,838 | +10.8% |
| Tangible fixed assets | 22/27 | €128,623 | €142,461 | +€13,838 | +10.8% |
| Land and buildings | 22 | €5,938 | €5,938 | = | 0.0% |
| Plant, machinery and equipment | 23 | €625 | - | -€625 | |
| Furniture and vehicles | 24 | €243 | €9,382 | +€9,139 | +3,755% |
| Assets under construction and advance payments | 27 | €121,816 | €127,140 | +€5,324 | +4.4% |
| Current assets | 29/58 | €31,403 | €51,280 | +€19,876 | +63.3% |
| Amounts receivable within one year | 40/41 | €8,261 | €24,835 | +€16,574 | +201% |
| Trade receivables | 40 | - | €2,000 | +€2,000 | |
| Other amounts receivable | 41 | €8,261 | €22,835 | +€14,574 | +176% |
| Cash at bank and in hand | 54/58 | €16,466 | €26,372 | +€9,906 | +60.2% |
| Deferred charges and accrued income | 490/1 | €6,676 | €73 | -€6,603 | -98.9% |
| Total equity and liabilities | 10/49 | €160,026 | €193,741 | +€33,715 | +21.1% |
| Equity | 10/15 | €12,982 | €50,821 | +€37,840 | +291% |
| Reserves | 13 | - | €37,840 | +€37,840 | |
| Distributable reserves | 133 | - | €37,840 | +€37,840 | |
| Profit (loss) carried forward | 14 | €12,982 | €12,982 | = | 0.0% |
| Amounts payable | 17/49 | €147,045 | €142,919 | -€4,125 | -2.8% |
| Amounts payable after more than one year | 17 | €112,822 | €101,930 | -€10,893 | -9.7% |
| Financial debts | 170/4 | €112,822 | €101,930 | -€10,893 | -9.7% |
| Amounts payable within one year | 42/48 | €34,222 | €39,340 | +€5,118 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €13,805 | €20,893 | +€7,087 | +51.3% |
| Trade debts | 44 | €12,821 | €8,303 | -€4,517 | -35.2% |
| Suppliers | 440/4 | €12,821 | €8,303 | -€4,517 | -35.2% |
| Taxes, remuneration and social security | 45 | - | €10,144 | +€10,144 | |
| Taxes | 450/3 | - | €10,144 | +€10,144 | |
| Other amounts payable | 47/48 | €7,596 | - | -€7,596 | |
| Accrued charges and deferred income | 492/3 | - | €1,650 | +€1,650 | |
| Remuneration, social security and pensions | 62 | €310 | €2,118 | +€1,808 | +583% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,256 | €974 | -€282 | -22.4% |
| Other operating charges | 640/8 | €3,986 | €2,895 | -€1,091 | -27.4% |
| Gross operating margin | 9900 | €11,145 | €70,591 | +€59,446 | +533% |
| Operating profit (loss) | 9901 | €5,593 | €64,603 | +€59,011 | +1,055% |
| Financial income | 75/76B | €0 | €0 | +€0 | +144% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +144% |
| Financial charges | 65/66B | €2,212 | €6,478 | +€4,266 | +193% |
| Recurring financial charges | 65 | €2,212 | €6,478 | +€4,266 | +193% |
| Profit (loss) for the period before taxes | 9903 | €3,381 | €58,125 | +€54,744 | +1,619% |
| Income taxes | 67/77 | €2,295 | €20,144 | +€17,849 | +778% |
| Profit (loss) for the period | 9904 | €1,086 | €37,982 | +€36,896 | +3,397% |
| Profit (loss) for the period to be appropriated | 9905 | €1,086 | €37,982 | +€36,896 | +3,397% |
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 21 October 2026 via checked.be.