KINE ELS: 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 ELS
Largest movements
- Cash +€34,816
up €34,816 (+60.6%), from €57,417 to €92,233
mainly Net result for the year (+€67,078) and Depreciation (+€27,499)
- Tangible fixed assets -€25,909
down €25,909 (-10.7%), from €243,200 to €217,291
of which Furniture and vehicles: -€16,288
- Receivables within one year +€25,334
up €25,334 (+68.2%), from €37,173 to €62,507
of which Trade receivables: +€13,334
- Reserves +€66,800
new in 2025: €66,800
- Other debts -€22,858
down €22,858 (-30.4%), from €75,270 to €52,412
- Short-term financial debts -€9,350
down €9,350 (-43.0%), from €21,763 to €12,413
- Trade debts -€8,344
down €8,344 (-100.0%), from €8,344 to €0
- Tax, wage and social debts +€7,715
up €7,715, from €0 to €7,715
- Gross operating margin +€8,054
up €8,054 (+8.4%), from €95,807 to €103,861
- Other operating charges -€7,020
no longer reported in 2025 (was €7,020)
- Taxes -€5,320
down €5,320 (-44.3%), from €12,000 to €6,680
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 | €337,890 | €372,131 | +€34,241 | +10.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €243,300 | €217,391 | -€25,909 | -10.6% |
| Tangible fixed assets | 22/27 | €243,200 | €217,291 | -€25,909 | -10.7% |
| Land and buildings | 22 | €180,548 | €170,927 | -€9,621 | -5.3% |
| Furniture and vehicles | 24 | €62,652 | €46,365 | -€16,288 | -26.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €94,590 | €154,740 | +€60,150 | +63.6% |
| Amounts receivable within one year | 40/41 | €37,173 | €62,507 | +€25,334 | +68.2% |
| Trade receivables | 40 | €21,684 | €35,018 | +€13,334 | +61.5% |
| Other amounts receivable | 41 | €15,489 | €27,489 | +€12,000 | +77.5% |
| Cash at bank and in hand | 54/58 | €57,417 | €92,233 | +€34,816 | +60.6% |
| Total equity and liabilities | 10/49 | €337,890 | €372,131 | +€34,241 | +10.1% |
| Equity | 10/15 | €232,513 | €299,591 | +€67,078 | +28.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €66,800 | +€66,800 | |
| Distributable reserves | 133 | - | €66,800 | +€66,800 | |
| Profit (loss) carried forward | 14 | €213,913 | €214,191 | +€278 | +0.1% |
| Amounts payable | 17/49 | €105,377 | €72,540 | -€32,837 | -31.2% |
| Amounts payable within one year | 42/48 | €105,377 | €72,540 | -€32,837 | -31.2% |
| Financial debts | 43 | €21,763 | €12,413 | -€9,350 | -43.0% |
| Other loans | 439 | €21,763 | €12,413 | -€9,350 | -43.0% |
| Trade debts | 44 | €8,344 | €0 | -€8,344 | -100.0% |
| Suppliers | 440/4 | €8,344 | €0 | -€8,344 | -100.0% |
| Taxes, remuneration and social security | 45 | €0 | €7,715 | +€7,715 | |
| Taxes | 450/3 | €0 | €7,715 | +€7,715 | |
| Other amounts payable | 47/48 | €75,270 | €52,412 | -€22,858 | -30.4% |
| Remuneration, social security and pensions | 62 | €2,010 | €2,539 | +€529 | +26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,643 | €27,499 | -€144 | -0.5% |
| Other operating charges | 640/8 | €7,020 | - | -€7,020 | |
| Gross operating margin | 9900 | €95,807 | €103,861 | +€8,054 | +8.4% |
| Operating profit (loss) | 9901 | €59,133 | €73,823 | +€14,690 | +24.8% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €86 | €65 | -€21 | -24.9% |
| Recurring financial charges | 65 | €86 | €65 | -€21 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €59,047 | €73,758 | +€14,711 | +24.9% |
| Income taxes | 67/77 | €12,000 | €6,680 | -€5,320 | -44.3% |
| Profit (loss) for the period | 9904 | €47,047 | €67,078 | +€20,031 | +42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €47,047 | €67,078 | +€20,031 | +42.6% |
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 12 October 2026 via checked.be.