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
- Receivables within one year +€14,463
new in 2025: €14,463
of which Trade receivables: +€9,308
- Cash -€2,625
down €2,625 (-14.7%), from €17,843 to €15,218
mainly Receivables within one year (-€14,463) and Contributions, distributions and other (-€6,845)
- Tangible fixed assets -€1,842
down €1,842 (-30.4%), from €6,058 to €4,216
of which Furniture and vehicles: -€1,806
- Other debts +€8,247
up €8,247 (+246.3%), from €3,349 to €11,596
- Profit (loss) carried forward +€2,212
no longer reported in 2025 (was -€2,212)
- Gross operating margin -€2,318
down €2,318 (-13.0%), from €17,780 to €15,463
- Depreciation +€1,687
up €1,687 (+265.6%), from €635 to €2,322
- Taxes +€1,442
up €1,442 (+60.0%), from €2,403 to €3,845
- Financial income -€495
down €495 (-52.4%), from €945 to €450
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 | €68,901 | €78,897 | +€9,996 | +14.5% |
| Fixed assets | 21/28 | €6,058 | €4,216 | -€1,842 | -30.4% |
| Tangible fixed assets | 22/27 | €6,058 | €4,216 | -€1,842 | -30.4% |
| Plant, machinery and equipment | 23 | €36 | - | -€36 | |
| Furniture and vehicles | 24 | €6,022 | €4,216 | -€1,806 | -30.0% |
| Current assets | 29/58 | €62,843 | €74,681 | +€11,838 | +18.8% |
| Amounts receivable after more than one year | 29 | €45,000 | €45,000 | = | 0.0% |
| Other amounts receivable | 291 | €45,000 | €45,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €14,463 | +€14,463 | |
| Trade receivables | 40 | - | €9,308 | +€9,308 | |
| Other amounts receivable | 41 | - | €5,155 | +€5,155 | |
| Cash at bank and in hand | 54/58 | €17,843 | €15,218 | -€2,625 | -14.7% |
| Total equity and liabilities | 10/49 | €68,901 | €78,897 | +€9,996 | +14.5% |
| Equity | 10/15 | €62,687 | €64,899 | +€2,212 | +3.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €52,499 | €52,499 | = | 0.0% |
| Distributable reserves | 133 | €52,499 | €52,499 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,212 | - | +€2,212 | |
| Amounts payable | 17/49 | €6,214 | €13,998 | +€7,784 | +125.3% |
| Amounts payable within one year | 42/48 | €6,214 | €13,998 | +€7,784 | +125.3% |
| Trade debts | 44 | €463 | - | -€463 | |
| Suppliers | 440/4 | €463 | - | -€463 | |
| Taxes, remuneration and social security | 45 | €2,403 | €2,403 | = | 0.0% |
| Taxes | 450/3 | €2,403 | €2,403 | = | 0.0% |
| Other amounts payable | 47/48 | €3,349 | €11,596 | +€8,247 | +246.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €635 | €2,322 | +€1,687 | +265.6% |
| Other operating charges | 640/8 | €576 | €519 | -€56 | -9.8% |
| Gross operating margin | 9900 | €17,780 | €15,463 | -€2,318 | -13.0% |
| Operating profit (loss) | 9901 | €16,570 | €12,621 | -€3,948 | -23.8% |
| Financial income | 75/76B | €945 | €450 | -€495 | -52.4% |
| Recurring financial income | 75 | €945 | €450 | -€495 | -52.4% |
| Financial charges | 65/66B | €263 | €170 | -€92 | -35.2% |
| Recurring financial charges | 65 | €263 | €170 | -€92 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | €17,252 | €12,901 | -€4,351 | -25.2% |
| Income taxes | 67/77 | €2,403 | €3,845 | +€1,442 | +60.0% |
| Profit (loss) for the period | 9904 | €14,849 | €9,056 | -€5,793 | -39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,849 | €9,056 | -€5,793 | -39.0% |
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 5 October 2026 via checked.be.