KINE MAQ'S: what changed
KINE MAQ'S
Largest movements
- Tangible fixed assets -€27,684
down €27,684 (-28.0%), from €98,899 to €71,216
of which Plant, machinery and equipment: -€14,836
- Cash -€9,058
down €9,058 (-25.0%), from €36,220 to €27,162
mainly Debts after one year (-€25,620) and Net result for the year (-€6,781)
- Debts after one year -€25,620
down €25,620 (-31.1%), from €82,248 to €56,628
- Reserves -€7,000
down €7,000 (-20.2%), from €34,703 to €27,703
- Current portion of long-term debt -€3,506
down €3,506 (-14.4%), from €24,362 to €20,856
- Tax, wage and social debts -€2,531
down €2,531 (-17.9%), from €14,158 to €11,627
- Other debts +€1,724
up €1,724 (+23.0%), from €7,500 to €9,224
- Gross operating margin -€50,227
down €50,227 (-67.9%), from €74,006 to €23,778
- Taxes -€8,588
down €8,588 (-98.1%), from €8,758 to €169
- Depreciation +€5,893
up €5,893 (+24.7%), from €23,841 to €29,734
- Financial charges -€5,762
down €5,762 (-97.1%), from €5,933 to €170
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €169,181 | €132,891 | -€36,290 | -21.5% |
| Fixed assets | 21/28 | €105,649 | €77,216 | -€28,434 | -26.9% |
| Intangible fixed assets | 21 | €6,750 | €6,000 | -€750 | -11.1% |
| Tangible fixed assets | 22/27 | €98,899 | €71,216 | -€27,684 | -28.0% |
| Land and buildings | 22 | €36,000 | €32,000 | -€4,000 | -11.1% |
| Plant, machinery and equipment | 23 | €32,135 | €17,299 | -€14,836 | -46.2% |
| Furniture and vehicles | 24 | €30,764 | €21,917 | -€8,847 | -28.8% |
| Current assets | 29/58 | €63,531 | €55,675 | -€7,856 | -12.4% |
| Amounts receivable within one year | 40/41 | €25,411 | €26,785 | +€1,375 | +5.4% |
| Trade receivables | 40 | €25,411 | €26,785 | +€1,375 | +5.4% |
| Cash at bank and in hand | 54/58 | €36,220 | €27,162 | -€9,058 | -25.0% |
| Deferred charges and accrued income | 490/1 | €1,901 | €1,728 | -€173 | -9.1% |
| Total equity and liabilities | 10/49 | €169,181 | €132,891 | -€36,290 | -21.5% |
| Equity | 10/15 | €40,703 | €33,922 | -€6,781 | -16.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €34,703 | €27,703 | -€7,000 | -20.2% |
| Distributable reserves | 133 | €34,703 | €27,703 | -€7,000 | -20.2% |
| Profit (loss) carried forward | 14 | - | €219 | +€219 | |
| Amounts payable | 17/49 | €128,478 | €98,969 | -€29,508 | -23.0% |
| Amounts payable after more than one year | 17 | €82,248 | €56,628 | -€25,620 | -31.1% |
| Financial debts | 170/4 | €82,248 | €56,628 | -€25,620 | -31.1% |
| Amounts payable within one year | 42/48 | €46,229 | €42,341 | -€3,888 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €24,362 | €20,856 | -€3,506 | -14.4% |
| Trade debts | 44 | €210 | €635 | +€425 | +202% |
| Suppliers | 440/4 | €210 | €635 | +€425 | +202% |
| Taxes, remuneration and social security | 45 | €14,158 | €11,627 | -€2,531 | -17.9% |
| Taxes | 450/3 | €14,158 | €11,627 | -€2,531 | -17.9% |
| Other amounts payable | 47/48 | €7,500 | €9,224 | +€1,724 | +23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,841 | €29,734 | +€5,893 | +24.7% |
| Other operating charges | 640/8 | €772 | €487 | -€285 | -36.9% |
| Gross operating margin | 9900 | €74,006 | €23,778 | -€50,227 | -67.9% |
| Operating profit (loss) | 9901 | €49,393 | -€6,442 | -€55,835 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €5,933 | €170 | -€5,762 | -97.1% |
| Recurring financial charges | 65 | €5,933 | €170 | -€5,762 | -97.1% |
| Profit (loss) for the period before taxes | 9903 | €43,461 | -€6,612 | -€50,073 | |
| Income taxes | 67/77 | €8,758 | €169 | -€8,588 | -98.1% |
| Profit (loss) for the period | 9904 | €34,703 | -€6,781 | -€41,484 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,703 | -€6,781 | -€41,484 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.