KINELA: 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.
KINELA
Largest movements
- Cash +€47,783
up €47,783 (+51.7%), from €92,431 to €140,214
mainly Net result for the year (+€50,777) and Depreciation (+€42,158)
- Tangible fixed assets -€22,374
down €22,374 (-10.9%), from €204,474 to €182,100
of which Furniture and vehicles: -€22,561
- Debts after one year -€32,503
down €32,503 (-39.6%), from €81,982 to €49,479
- Reserves +€23,000
up €23,000 (+17.4%), from €132,360 to €155,360
of which Distributable reserves: +€23,000
- Other debts +€14,888
up €14,888 (+31.3%), from €47,612 to €62,501
- Current portion of long-term debt +€10,512
up €10,512 (+150.9%), from €6,967 to €17,479
- Tax, wage and social debts +€4,672
up €4,672 (+70.2%), from €6,654 to €11,327
- Gross operating margin +€14,392
up €14,392 (+14.7%), from €97,996 to €112,388
- Depreciation +€11,931
up €11,931 (+39.5%), from €30,227 to €42,158
- Taxes -€2,436
down €2,436 (-13.1%), from €18,654 to €16,219
- Financial charges +€1,741
up €1,741 (+127.3%), from €1,368 to €3,109
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 | €312,025 | €334,071 | +€22,046 | +7.1% |
| Fixed assets | 21/28 | €204,549 | €182,175 | -€22,374 | -10.9% |
| Tangible fixed assets | 22/27 | €204,474 | €182,100 | -€22,374 | -10.9% |
| Plant, machinery and equipment | 23 | €96,608 | €96,796 | +€187 | +0.2% |
| Furniture and vehicles | 24 | €107,866 | €85,305 | -€22,561 | -20.9% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €107,476 | €151,896 | +€44,420 | +41.3% |
| Amounts receivable within one year | 40/41 | €11,731 | €8,580 | -€3,151 | -26.9% |
| Trade receivables | 40 | €7,735 | €0 | -€7,735 | -100.0% |
| Other amounts receivable | 41 | €3,996 | €8,580 | +€4,584 | +114.7% |
| Cash at bank and in hand | 54/58 | €92,431 | €140,214 | +€47,783 | +51.7% |
| Deferred charges and accrued income | 490/1 | €3,314 | €3,102 | -€212 | -6.4% |
| Total equity and liabilities | 10/49 | €312,025 | €334,071 | +€22,046 | +7.1% |
| Equity | 10/15 | €164,340 | €188,117 | +€23,777 | +14.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €132,360 | €155,360 | +€23,000 | +17.4% |
| 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 | €130,500 | €153,500 | +€23,000 | +17.6% |
| Profit (loss) carried forward | 14 | €19,580 | €20,357 | +€777 | +4.0% |
| Amounts payable | 17/49 | €147,685 | €145,953 | -€1,732 | -1.2% |
| Amounts payable after more than one year | 17 | €81,982 | €49,479 | -€32,503 | -39.6% |
| Financial debts | 170/4 | €81,982 | €49,479 | -€32,503 | -39.6% |
| Amounts payable within one year | 42/48 | €65,703 | €96,475 | +€30,772 | +46.8% |
| Current portion of amounts payable after more than one year | 42 | €6,967 | €17,479 | +€10,512 | +150.9% |
| Trade debts | 44 | €4,469 | €5,168 | +€699 | +15.6% |
| Suppliers | 440/4 | €4,469 | €5,168 | +€699 | +15.6% |
| Taxes, remuneration and social security | 45 | €6,654 | €11,327 | +€4,672 | +70.2% |
| Taxes | 450/3 | €6,654 | €11,327 | +€4,672 | +70.2% |
| Other amounts payable | 47/48 | €47,612 | €62,501 | +€14,888 | +31.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,227 | €42,158 | +€11,931 | +39.5% |
| Other operating charges | 640/8 | €69 | €125 | +€55 | +80.0% |
| Gross operating margin | 9900 | €97,996 | €112,388 | +€14,392 | +14.7% |
| Operating profit (loss) | 9901 | €67,699 | €70,105 | +€2,406 | +3.6% |
| Financial charges | 65/66B | €1,368 | €3,109 | +€1,741 | +127.3% |
| Recurring financial charges | 65 | €1,368 | €3,109 | +€1,741 | +127.3% |
| Profit (loss) for the period before taxes | 9903 | €66,331 | €66,996 | +€665 | +1.0% |
| Income taxes | 67/77 | €18,654 | €16,219 | -€2,436 | -13.1% |
| Profit (loss) for the period | 9904 | €47,677 | €50,777 | +€3,100 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,677 | €50,777 | +€3,100 | +6.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.