KINE DELSAUT: 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 DELSAUT
Largest movements
- Tangible fixed assets +€127,964
up €127,964 (+70.8%), from €180,632 to €308,596
of which Land and buildings: +€139,818
- Cash -€16,704
down €16,704 (-32.6%), from €51,244 to €34,540
mainly Investment in fixed assets (net) (-€151,359) and Deferred charges and accrued income (-€15,797)
- Deferred charges and accrued income +€15,797
up €15,797 (+42.8%), from €36,947 to €52,744
- Debts after one year +€94,676
up €94,676 (+71.2%), from €133,017 to €227,693
- Profit (loss) carried forward +€33,054
up €33,054 (+41.0%), from €80,628 to €113,682
- Current portion of long-term debt +€8,820
up €8,820 (+52.2%), from €16,899 to €25,719
- Gross operating margin -€12,541
down €12,541 (-14.5%), from €86,657 to €74,116
- Depreciation +€7,522
up €7,522 (+43.8%), from €17,166 to €24,688
- Taxes -€4,374
down €4,374 (-32.8%), from €13,340 to €8,966
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 | €274,550 | €403,434 | +€128,884 | +46.9% |
| Formation expenses | 20 | €1,005 | €57 | -€948 | -94.3% |
| Fixed assets | 21/28 | €181,440 | €309,059 | +€127,619 | +70.3% |
| Intangible fixed assets | 21 | €808 | €463 | -€345 | -42.7% |
| Tangible fixed assets | 22/27 | €180,632 | €308,596 | +€127,964 | +70.8% |
| Land and buildings | 22 | €133,507 | €273,325 | +€139,818 | +105% |
| Plant, machinery and equipment | 23 | €5,298 | €4,111 | -€1,187 | -22.4% |
| Furniture and vehicles | 24 | €41,827 | €31,160 | -€10,667 | -25.5% |
| Current assets | 29/58 | €92,105 | €94,318 | +€2,213 | +2.4% |
| Amounts receivable within one year | 40/41 | €3,914 | €7,034 | +€3,120 | +79.7% |
| Trade receivables | 40 | €3,897 | - | -€3,897 | |
| Other amounts receivable | 41 | €17 | €7,034 | +€7,017 | +41,276% |
| Cash at bank and in hand | 54/58 | €51,244 | €34,540 | -€16,704 | -32.6% |
| Deferred charges and accrued income | 490/1 | €36,947 | €52,744 | +€15,797 | +42.8% |
| Total equity and liabilities | 10/49 | €274,550 | €403,434 | +€128,884 | +46.9% |
| Equity | 10/15 | €104,628 | €137,682 | +€33,054 | +31.6% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,628 | €113,682 | +€33,054 | +41.0% |
| Amounts payable | 17/49 | €169,922 | €265,752 | +€95,830 | +56.4% |
| Amounts payable after more than one year | 17 | €133,017 | €227,693 | +€94,676 | +71.2% |
| Financial debts | 170/4 | €133,017 | €227,693 | +€94,676 | +71.2% |
| Amounts payable within one year | 42/48 | €36,905 | €37,726 | +€821 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €16,899 | €25,719 | +€8,820 | +52.2% |
| Trade debts | 44 | €4,372 | €1,260 | -€3,112 | -71.2% |
| Suppliers | 440/4 | €4,372 | €1,260 | -€3,112 | -71.2% |
| Taxes, remuneration and social security | 45 | €7,609 | €4,190 | -€3,419 | -44.9% |
| Taxes | 450/3 | €5,909 | €1,158 | -€4,751 | -80.4% |
| Remuneration and social security | 454/9 | €1,700 | €3,032 | +€1,332 | +78.4% |
| Other amounts payable | 47/48 | €8,025 | €6,557 | -€1,468 | -18.3% |
| Accrued charges and deferred income | 492/3 | - | €333 | +€333 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,166 | €24,688 | +€7,522 | +43.8% |
| Other operating charges | 640/8 | €1,118 | €1,926 | +€808 | +72.3% |
| Gross operating margin | 9900 | €86,657 | €74,116 | -€12,541 | -14.5% |
| Operating profit (loss) | 9901 | €68,373 | €47,502 | -€20,871 | -30.5% |
| Financial charges | 65/66B | €4,942 | €5,482 | +€540 | +10.9% |
| Recurring financial charges | 65 | €4,942 | €5,482 | +€540 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €63,431 | €42,020 | -€21,411 | -33.8% |
| Income taxes | 67/77 | €13,340 | €8,966 | -€4,374 | -32.8% |
| Profit (loss) for the period | 9904 | €50,091 | €33,054 | -€17,037 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,091 | €33,054 | -€17,037 | -34.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.