KINELINE: 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.
KINELINE
Largest movements
- Tangible fixed assets -€64,050
down €64,050 (-12.1%), from €531,111 to €467,061
of which Land and buildings: -€46,336
- Deferred charges and accrued income +€14,734
up €14,734 (+44.1%), from €33,421 to €48,155
- Cash -€7,853
down €7,853 (-17.2%), from €45,755 to €37,902
mainly Debts after one year (-€45,788) and Deferred charges and accrued income (-€14,734)
- Debts after one year -€45,788
down €45,788 (-9.5%), from €483,461 to €437,673
- Current portion of long-term debt -€10,785
down €10,785 (-19.1%), from €56,570 to €45,785
- Gross operating margin +€34,877
up €34,877 (+28.3%), from €123,170 to €158,048
- Financial charges -€8,237
down €8,237 (-33.6%), from €24,541 to €16,304
of which Non-recurring financial charges: -€7,680
- Other operating charges +€6,341
up €6,341 (+41.5%), from €15,285 to €21,626
- Staff costs +€3,144
up €3,144 (+5.5%), from €57,510 to €60,653
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 | €624,573 | €562,891 | -€61,682 | -9.9% |
| Fixed assets | 21/28 | €531,461 | €467,161 | -€64,300 | -12.1% |
| Tangible fixed assets | 22/27 | €531,111 | €467,061 | -€64,050 | -12.1% |
| Land and buildings | 22 | €487,078 | €440,742 | -€46,336 | -9.5% |
| Plant, machinery and equipment | 23 | €3,418 | €2,402 | -€1,015 | -29.7% |
| Furniture and vehicles | 24 | €10,705 | €4,261 | -€6,445 | -60.2% |
| Leasing and similar rights | 25 | €29,910 | €19,655 | -€10,255 | -34.3% |
| Financial fixed assets | 28 | €350 | €100 | -€250 | -71.4% |
| Current assets | 29/58 | €93,112 | €95,730 | +€2,618 | +2.8% |
| Amounts receivable within one year | 40/41 | €13,936 | €9,673 | -€4,263 | -30.6% |
| Trade receivables | 40 | €7,893 | €5,084 | -€2,810 | -35.6% |
| Other amounts receivable | 41 | €6,043 | €4,589 | -€1,454 | -24.1% |
| Cash at bank and in hand | 54/58 | €45,755 | €37,902 | -€7,853 | -17.2% |
| Deferred charges and accrued income | 490/1 | €33,421 | €48,155 | +€14,734 | +44.1% |
| Total equity and liabilities | 10/49 | €624,573 | €562,891 | -€61,682 | -9.9% |
| Equity | 10/15 | €66,743 | €60,765 | -€5,979 | -9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €86,740 | €86,740 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €86,740 | €86,740 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,597 | -€44,575 | -€5,979 | -15.5% |
| Amounts payable | 17/49 | €557,829 | €502,126 | -€55,704 | -10.0% |
| Amounts payable after more than one year | 17 | €483,461 | €437,673 | -€45,788 | -9.5% |
| Financial debts | 170/4 | €483,461 | €437,673 | -€45,788 | -9.5% |
| Amounts payable within one year | 42/48 | €67,329 | €57,482 | -€9,847 | -14.6% |
| Current portion of amounts payable after more than one year | 42 | €56,570 | €45,785 | -€10,785 | -19.1% |
| Trade debts | 44 | €6,836 | €4,950 | -€1,886 | -27.6% |
| Suppliers | 440/4 | €6,836 | €4,950 | -€1,886 | -27.6% |
| Taxes, remuneration and social security | 45 | €3,923 | €5,781 | +€1,858 | +47.4% |
| Taxes | 450/3 | €1,193 | €2,825 | +€1,631 | +137% |
| Remuneration and social security | 454/9 | €2,730 | €2,956 | +€227 | +8.3% |
| Other amounts payable | 47/48 | - | €966 | +€966 | |
| Accrued charges and deferred income | 492/3 | €7,039 | €6,970 | -€69 | -1.0% |
| Non-recurring operating income | 76A | €5,000 | €0 | -€5,000 | -100% |
| Remuneration, social security and pensions | 62 | €57,510 | €60,653 | +€3,144 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,962 | €65,090 | -€872 | -1.3% |
| Other operating charges | 640/8 | €15,285 | €21,626 | +€6,341 | +41.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €123,170 | €158,048 | +€34,877 | +28.3% |
| Operating profit (loss) | 9901 | -€15,587 | €10,678 | +€26,265 | |
| Financial income | 75/76B | €40 | €35 | -€5 | -13.5% |
| Recurring financial income | 75 | €40 | €35 | -€5 | -13.5% |
| Financial charges | 65/66B | €24,541 | €16,304 | -€8,237 | -33.6% |
| Recurring financial charges | 65 | €16,861 | €16,304 | -€557 | -3.3% |
| Non-recurring financial charges | 66B | €7,680 | €0 | -€7,680 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€40,087 | -€5,591 | +€34,496 | +86.1% |
| Income taxes | 67/77 | €369 | €387 | +€18 | +4.8% |
| Profit (loss) for the period | 9904 | -€40,457 | -€5,979 | +€34,478 | +85.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,457 | -€5,979 | +€34,478 | +85.2% |
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 25 October 2026 via checked.be.