KINE-O: 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-O
Largest movements
- Tangible fixed assets +€485,025
up €485,025 (+72.0%), from €673,315 to €1.2m
of which Land and buildings: +€489,352
- Cash -€50,986
down €50,986 (-50.4%), from €101,110 to €50,125
mainly Investment in fixed assets (net) (-€585,436) and Other debts (-€33,814)
- Debts after one year +€377,669
up €377,669 (+121%), from €312,205 to €689,874
- Reserves +€39,000
up €39,000 (+34.2%), from €114,000 to €153,000
- Other debts -€33,814
down €33,814 (-10.5%), from €322,352 to €288,538
- Trade debts +€20,005
up €20,005 (+82.7%), from €24,204 to €44,209
- Accrued charges and deferred income +€19,121
up €19,121, from €0 to €19,121
- Depreciation +€68,730
up €68,730 (+217%), from €31,682 to €100,412
- Gross operating margin +€53,662
up €53,662 (+51.7%), from €103,752 to €157,414
- Other operating charges -€8,725
down €8,725 (-67.9%), from €12,842 to €4,117
- Financial charges +€8,709
up €8,709 (+198%), from €4,388 to €13,097
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 | €828,611 | €1,260,968 | +€432,357 | +52.2% |
| Fixed assets | 21/28 | €673,315 | €1,158,340 | +€485,025 | +72.0% |
| Tangible fixed assets | 22/27 | €673,315 | €1,158,340 | +€485,025 | +72.0% |
| Land and buildings | 22 | €635,328 | €1,124,680 | +€489,352 | +77.0% |
| Plant, machinery and equipment | 23 | €3,192 | €8,317 | +€5,125 | +161% |
| Furniture and vehicles | 24 | €34,794 | €25,342 | -€9,452 | -27.2% |
| Current assets | 29/58 | €155,296 | €102,628 | -€52,667 | -33.9% |
| Amounts receivable within one year | 40/41 | €48,710 | €45,075 | -€3,634 | -7.5% |
| Trade receivables | 40 | €48,710 | €41,007 | -€7,702 | -15.8% |
| Other amounts receivable | 41 | - | €4,068 | +€4,068 | |
| Cash at bank and in hand | 54/58 | €101,110 | €50,125 | -€50,986 | -50.4% |
| Deferred charges and accrued income | 490/1 | €5,476 | €7,428 | +€1,953 | +35.7% |
| Total equity and liabilities | 10/49 | €828,611 | €1,260,968 | +€432,357 | +52.2% |
| Equity | 10/15 | €139,167 | €178,112 | +€38,945 | +28.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €114,000 | €153,000 | +€39,000 | +34.2% |
| Distributable reserves | 133 | €114,000 | €153,000 | +€39,000 | +34.2% |
| Profit (loss) carried forward | 14 | €167 | €112 | -€55 | -33.0% |
| Amounts payable | 17/49 | €689,444 | €1,082,856 | +€393,412 | +57.1% |
| Amounts payable after more than one year | 17 | €312,205 | €689,874 | +€377,669 | +121% |
| Financial debts | 170/4 | €312,205 | €689,874 | +€377,669 | +121% |
| Amounts payable within one year | 42/48 | €377,238 | €373,861 | -€3,377 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €25,996 | €41,115 | +€15,119 | +58.2% |
| Trade debts | 44 | €24,204 | €44,209 | +€20,005 | +82.7% |
| Suppliers | 440/4 | €24,204 | €44,209 | +€20,005 | +82.7% |
| Taxes, remuneration and social security | 45 | €4,686 | €0 | -€4,686 | -100% |
| Taxes | 450/3 | €4,686 | €0 | -€4,686 | -100% |
| Other amounts payable | 47/48 | €322,352 | €288,538 | -€33,814 | -10.5% |
| Accrued charges and deferred income | 492/3 | €0 | €19,121 | +€19,121 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,682 | €100,412 | +€68,730 | +217% |
| Other operating charges | 640/8 | €12,842 | €4,117 | -€8,725 | -67.9% |
| Gross operating margin | 9900 | €103,752 | €157,414 | +€53,662 | +51.7% |
| Operating profit (loss) | 9901 | €59,228 | €52,885 | -€6,343 | -10.7% |
| Financial income | 75/76B | €157 | €88 | -€69 | -43.8% |
| Recurring financial income | 75 | €157 | €88 | -€69 | -43.8% |
| Financial charges | 65/66B | €4,388 | €13,097 | +€8,709 | +198% |
| Recurring financial charges | 65 | €4,388 | €13,097 | +€8,709 | +198% |
| Profit (loss) for the period before taxes | 9903 | €54,998 | €39,877 | -€15,121 | -27.5% |
| Income taxes | 67/77 | €262 | €932 | +€670 | +256% |
| Profit (loss) for the period | 9904 | €54,735 | €38,945 | -€15,791 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €54,735 | €38,945 | -€15,791 | -28.8% |
Source: filed annual accounts (NBB), financial years ended 1 April 2024 and 1 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.