KINEPHIL: 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.
KINEPHIL
Largest movements
- Current investments +€31,503
new in 2025: €31,503
- Cash -€13,815
down €13,815 (-18.6%), from €74,177 to €60,362
mainly Current investments (-€31,503) and Debts after one year (-€6,988)
- Tangible fixed assets -€12,162
down €12,162 (-29.9%), from €40,692 to €28,530
of which Furniture and vehicles: -€8,211
- Receivables within one year +€4,319
up €4,319 (+92.2%), from €4,685 to €9,004
of which Trade receivables: +€4,027
- Reserves +€22,538
up €22,538 (+34.5%), from €65,258 to €87,796
- Debts after one year -€6,988
no longer reported in 2025 (was €6,988)
- Current portion of long-term debt -€6,297
down €6,297 (-47.4%), from €13,285 to €6,988
- Gross operating margin +€16,633
up €16,633 (+33.6%), from €49,458 to €66,092
- Taxes +€5,052
up €5,052 (+73.4%), from €6,882 to €11,934
- Staff costs -€1,627
down €1,627 (-19.0%), from €8,539 to €6,913
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 | €119,697 | €129,542 | +€9,845 | +8.2% |
| Fixed assets | 21/28 | €40,835 | €28,672 | -€12,162 | -29.8% |
| Tangible fixed assets | 22/27 | €40,692 | €28,530 | -€12,162 | -29.9% |
| Plant, machinery and equipment | 23 | €13,119 | €9,168 | -€3,951 | -30.1% |
| Furniture and vehicles | 24 | €27,573 | €19,362 | -€8,211 | -29.8% |
| Financial fixed assets | 28 | €143 | €143 | = | 0.0% |
| Current assets | 29/58 | €78,862 | €100,870 | +€22,007 | +27.9% |
| Amounts receivable within one year | 40/41 | €4,685 | €9,004 | +€4,319 | +92.2% |
| Trade receivables | 40 | €168 | €4,196 | +€4,027 | +2391.3% |
| Other amounts receivable | 41 | €4,517 | €4,809 | +€292 | +6.5% |
| Current investments | 50/53 | - | €31,503 | +€31,503 | |
| Cash at bank and in hand | 54/58 | €74,177 | €60,362 | -€13,815 | -18.6% |
| Total equity and liabilities | 10/49 | €119,697 | €129,542 | +€9,845 | +8.2% |
| Equity | 10/15 | €95,855 | €118,393 | +€22,538 | +23.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €65,258 | €87,796 | +€22,538 | +34.5% |
| Distributable reserves | 133 | €65,258 | €87,796 | +€22,538 | +34.5% |
| Profit (loss) carried forward | 14 | €24,397 | €24,397 | = | 0.0% |
| Amounts payable | 17/49 | €23,841 | €11,149 | -€12,693 | -53.2% |
| Amounts payable after more than one year | 17 | €6,988 | - | -€6,988 | |
| Financial debts | 170/4 | €6,988 | - | -€6,988 | |
| Amounts payable within one year | 42/48 | €16,854 | €11,149 | -€5,705 | -33.9% |
| Current portion of amounts payable after more than one year | 42 | €13,285 | €6,988 | -€6,297 | -47.4% |
| Trade debts | 44 | - | €144 | +€144 | |
| Suppliers | 440/4 | - | €144 | +€144 | |
| Taxes, remuneration and social security | 45 | €3,569 | €3,617 | +€48 | +1.3% |
| Taxes | 450/3 | €3,569 | €3,617 | +€48 | +1.3% |
| Other amounts payable | 47/48 | - | €400 | +€400 | |
| Remuneration, social security and pensions | 62 | €8,539 | €6,913 | -€1,627 | -19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,144 | €16,816 | -€327 | -1.9% |
| Other operating charges | 640/8 | €1,297 | €1,321 | +€24 | +1.8% |
| Gross operating margin | 9900 | €49,458 | €66,092 | +€16,633 | +33.6% |
| Operating profit (loss) | 9901 | €22,478 | €41,042 | +€18,564 | +82.6% |
| Financial income | 75/76B | €117 | €420 | +€302 | +257.4% |
| Recurring financial income | 75 | €117 | €420 | +€302 | +257.4% |
| Financial charges | 65/66B | €1,199 | €809 | -€390 | -32.5% |
| Recurring financial charges | 65 | €1,199 | €809 | -€390 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €21,397 | €40,652 | +€19,256 | +90.0% |
| Income taxes | 67/77 | €6,882 | €11,934 | +€5,052 | +73.4% |
| Profit (loss) for the period | 9904 | €14,514 | €28,718 | +€14,204 | +97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,514 | €28,718 | +€14,204 | +97.9% |
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 6 October 2026 via checked.be.