KINE NOBELS: what changed
KINE NOBELS
Largest movements
- Cash +€44,856
up €44,856 (+36.7%), from €122,255 to €167,111
mainly Net result for the year (+€62,324) and Depreciation (+€7,496)
- Receivables after one year +€20,000
new in 2025: €20,000
- Receivables within one year +€4,375
up €4,375 (+181%), from €2,415 to €6,790
of which Other amounts receivable: +€5,445
- Tangible fixed assets -€2,796
down €2,796 (-13.4%), from €20,816 to €18,020
of which Plant, machinery and equipment: -€1,814
- Profit (loss) carried forward +€62,324
up €62,324 (+120%), from €52,128 to €114,452
- Tax, wage and social debts +€3,599
up €3,599 (+18.6%), from €19,401 to €23,000
- Gross operating margin +€14,368
up €14,368 (+18.5%), from €77,516 to €91,885
- Taxes +€3,590
up €3,590 (+20.0%), from €17,944 to €21,534
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 | €155,279 | €219,306 | +€64,027 | +41.2% |
| Fixed assets | 21/28 | €27,110 | €23,314 | -€3,796 | -14.0% |
| Intangible fixed assets | 21 | €6,293 | €5,293 | -€1,000 | -15.9% |
| Tangible fixed assets | 22/27 | €20,816 | €18,020 | -€2,796 | -13.4% |
| Plant, machinery and equipment | 23 | €9,490 | €7,677 | -€1,814 | -19.1% |
| Furniture and vehicles | 24 | €11,326 | €10,344 | -€982 | -8.7% |
| Current assets | 29/58 | €128,169 | €195,992 | +€67,823 | +52.9% |
| Amounts receivable after more than one year | 29 | - | €20,000 | +€20,000 | |
| Other amounts receivable | 291 | - | €20,000 | +€20,000 | |
| Amounts receivable within one year | 40/41 | €2,415 | €6,790 | +€4,375 | +181% |
| Trade receivables | 40 | €1,070 | - | -€1,070 | |
| Other amounts receivable | 41 | €1,345 | €6,790 | +€5,445 | +405% |
| Cash at bank and in hand | 54/58 | €122,255 | €167,111 | +€44,856 | +36.7% |
| Deferred charges and accrued income | 490/1 | €3,499 | €2,090 | -€1,409 | -40.3% |
| Total equity and liabilities | 10/49 | €155,279 | €219,306 | +€64,027 | +41.2% |
| Equity | 10/15 | €118,928 | €181,252 | +€62,324 | +52.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €63,800 | €63,800 | = | 0.0% |
| Distributable reserves | 133 | €63,800 | €63,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,128 | €114,452 | +€62,324 | +120% |
| Amounts payable | 17/49 | €36,351 | €38,053 | +€1,702 | +4.7% |
| Amounts payable within one year | 42/48 | €21,459 | €24,891 | +€3,433 | +16.0% |
| Trade debts | 44 | €2,058 | €1,892 | -€166 | -8.1% |
| Suppliers | 440/4 | €2,058 | €1,892 | -€166 | -8.1% |
| Taxes, remuneration and social security | 45 | €19,401 | €23,000 | +€3,599 | +18.6% |
| Taxes | 450/3 | €19,401 | €23,000 | +€3,599 | +18.6% |
| Accrued charges and deferred income | 492/3 | €14,892 | €13,162 | -€1,730 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,909 | €7,496 | +€587 | +8.5% |
| Other operating charges | 640/8 | €715 | €951 | +€236 | +33.0% |
| Gross operating margin | 9900 | €77,516 | €91,885 | +€14,368 | +18.5% |
| Operating profit (loss) | 9901 | €69,893 | €83,438 | +€13,545 | +19.4% |
| Financial income | 75/76B | €202 | €465 | +€263 | +131% |
| Recurring financial income | 75 | €202 | €465 | +€263 | +131% |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.5% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €70,051 | €83,858 | +€13,807 | +19.7% |
| Income taxes | 67/77 | €17,944 | €21,534 | +€3,590 | +20.0% |
| Profit (loss) for the period | 9904 | €52,107 | €62,324 | +€10,217 | +19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €52,107 | €62,324 | +€10,217 | +19.6% |
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 3 November 2026 via checked.be.