KINEAS: what changed
Two fiscal 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.
KINEAS
Largest movements
- Tangible fixed assets -€19,741
down €19,741 (-14.0%), from €140,864 to €121,124
- Cash +€3,429
up €3,429 (+36.4%), from €9,409 to €12,838
mainly Depreciation (+€19,741) and Net result for the year (+€4,944)
- Debts after one year -€19,534
down €19,534 (-28.2%), from €69,263 to €49,729
- Reserves +€4,500
up €4,500 (+23.3%), from €19,319 to €23,819
of which Distributable reserves: +€4,500
- Purchases and services -€5,187
down €5,187 (-6.8%), from €75,898 to €70,711
- Gross operating margin +€2,457
up €2,457 (+8.0%), from €30,543 to €33,000
- Taxes +€1,055
up €1,055 (+39.7%), from €2,657 to €3,712
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 | €152,324 | €136,280 | -€16,044 | -10.5% |
| Fixed assets | 21/28 | €140,864 | €121,124 | -€19,741 | -14.0% |
| Tangible fixed assets | 22/27 | €140,864 | €121,124 | -€19,741 | -14.0% |
| Land and buildings | 22 | €9,000 | €9,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €67,603 | €58,628 | -€8,974 | -13.3% |
| Furniture and vehicles | 24 | €58,751 | €53,064 | -€5,687 | -9.7% |
| Leasing and similar rights | 25 | €5,511 | €431 | -€5,080 | -92.2% |
| Current assets | 29/58 | €11,459 | €15,156 | +€3,697 | +32.3% |
| Amounts receivable within one year | 40/41 | €2,050 | €2,318 | +€268 | +13.1% |
| Trade receivables | 40 | €2,050 | €1,800 | -€250 | -12.2% |
| Other amounts receivable | 41 | - | €518 | +€518 | |
| Cash at bank and in hand | 54/58 | €9,409 | €12,838 | +€3,429 | +36.4% |
| Total equity and liabilities | 10/49 | €152,324 | €136,280 | -€16,044 | -10.5% |
| Equity | 10/15 | €46,898 | €51,842 | +€4,944 | +10.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,319 | €23,819 | +€4,500 | +23.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €17,459 | €21,959 | +€4,500 | +25.8% |
| Profit (loss) carried forward | 14 | €8,979 | €9,423 | +€444 | +4.9% |
| Amounts payable | 17/49 | €105,426 | €84,438 | -€20,988 | -19.9% |
| Amounts payable after more than one year | 17 | €69,263 | €49,729 | -€19,534 | -28.2% |
| Financial debts | 170/4 | €69,263 | €49,729 | -€19,534 | -28.2% |
| Amounts payable within one year | 42/48 | €36,163 | €34,709 | -€1,454 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €22,076 | €21,285 | -€792 | -3.6% |
| Financial debts | 43 | €252 | €317 | +€65 | +25.6% |
| Credit institutions | 430/8 | €252 | €317 | +€65 | +25.6% |
| Trade debts | 44 | €146 | €346 | +€200 | +136.5% |
| Suppliers | 440/4 | €146 | €346 | +€200 | +136.5% |
| Taxes, remuneration and social security | 45 | €3,237 | €1,882 | -€1,355 | -41.9% |
| Taxes | 450/3 | €1,371 | - | -€1,371 | |
| Remuneration and social security | 454/9 | €1,865 | €1,882 | +€16 | +0.9% |
| Other amounts payable | 47/48 | €10,451 | €10,880 | +€428 | +4.1% |
| Turnover | 70 | €101,918 | €100,955 | -€963 | -0.9% |
| Non-recurring operating income | 76A | €2,550 | €778 | -€1,772 | -69.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €75,898 | €70,711 | -€5,187 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,119 | €19,741 | -€378 | -1.9% |
| Other operating charges | 640/8 | €1,323 | €1,428 | +€106 | +8.0% |
| Gross operating margin | 9900 | €30,543 | €33,000 | +€2,457 | +8.0% |
| Operating profit (loss) | 9901 | €9,101 | €11,830 | +€2,729 | +30.0% |
| Financial charges | 65/66B | €3,744 | €3,174 | -€571 | -15.2% |
| Recurring financial charges | 65 | €3,744 | €3,174 | -€571 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €5,357 | €8,657 | +€3,300 | +61.6% |
| Income taxes | 67/77 | €2,657 | €3,712 | +€1,055 | +39.7% |
| Profit (loss) for the period | 9904 | €2,700 | €4,944 | +€2,245 | +83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,700 | €4,944 | +€2,245 | +83.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.