KINEQUANON: 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.
KINEQUANON
Largest movements
- Tangible fixed assets -€17,851
down €17,851 (-9.9%), from €180,957 to €163,106
of which Other tangible fixed assets: -€10,037
- Cash +€10,066
up €10,066 (+24.2%), from €41,577 to €51,643
mainly Depreciation (+€18,180) and Net result for the year (+€15,929)
- Receivables within one year +€3,489
up €3,489 (+32.3%), from €10,795 to €14,284
- Profit (loss) carried forward +€15,929
up €15,929 (+23.3%), from -€68,399 to -€52,469
- Debts after one year -€13,976
down €13,976 (-24.8%), from €56,371 to €42,395
- Current portion of long-term debt -€4,886
down €4,886 (-25.9%), from €18,862 to €13,976
- Trade debts -€3,312
down €3,312 (-73.7%), from €4,495 to €1,183
- Gross operating margin -€11,183
down €11,183 (-23.3%), from €48,068 to €36,885
- Depreciation +€634
up €634 (+3.6%), from €17,547 to €18,180
- Financial charges -€569
down €569 (-25.1%), from €2,264 to €1,695
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 | €233,787 | €229,328 | -€4,459 | -1.9% |
| Fixed assets | 21/28 | €181,311 | €163,131 | -€18,180 | -10.0% |
| Intangible fixed assets | 21 | €329 | €0 | -€329 | -100% |
| Tangible fixed assets | 22/27 | €180,957 | €163,106 | -€17,851 | -9.9% |
| Plant, machinery and equipment | 23 | €43,542 | €36,740 | -€6,802 | -15.6% |
| Furniture and vehicles | 24 | €2,127 | €1,115 | -€1,012 | -47.6% |
| Other tangible fixed assets | 26 | €135,288 | €125,250 | -€10,037 | -7.4% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €52,476 | €66,198 | +€13,721 | +26.1% |
| Amounts receivable within one year | 40/41 | €10,795 | €14,284 | +€3,489 | +32.3% |
| Trade receivables | 40 | €10,795 | €14,284 | +€3,489 | +32.3% |
| Cash at bank and in hand | 54/58 | €41,577 | €51,643 | +€10,066 | +24.2% |
| Deferred charges and accrued income | 490/1 | €104 | €270 | +€166 | +160% |
| Total equity and liabilities | 10/49 | €233,787 | €229,328 | -€4,459 | -1.9% |
| Equity | 10/15 | -€60,339 | -€44,409 | +€15,929 | +26.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,399 | -€52,469 | +€15,929 | +23.3% |
| Amounts payable | 17/49 | €294,126 | €273,737 | -€20,388 | -6.9% |
| Amounts payable after more than one year | 17 | €56,371 | €42,395 | -€13,976 | -24.8% |
| Financial debts | 170/4 | €56,371 | €42,395 | -€13,976 | -24.8% |
| Amounts payable within one year | 42/48 | €237,755 | €231,343 | -€6,412 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €18,862 | €13,976 | -€4,886 | -25.9% |
| Financial debts | 43 | €206 | €56 | -€150 | -72.9% |
| Credit institutions | 430/8 | €206 | €56 | -€150 | -72.9% |
| Trade debts | 44 | €4,495 | €1,183 | -€3,312 | -73.7% |
| Suppliers | 440/4 | €4,495 | €1,183 | -€3,312 | -73.7% |
| Taxes, remuneration and social security | 45 | €128 | €280 | +€152 | +119% |
| Taxes | 450/3 | €128 | €280 | +€152 | +119% |
| Other amounts payable | 47/48 | €214,064 | €215,847 | +€1,783 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,547 | €18,180 | +€634 | +3.6% |
| Other operating charges | 640/8 | €1,367 | €928 | -€439 | -32.1% |
| Gross operating margin | 9900 | €48,068 | €36,885 | -€11,183 | -23.3% |
| Operating profit (loss) | 9901 | €29,154 | €17,777 | -€11,377 | -39.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -17.1% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -17.1% |
| Financial charges | 65/66B | €2,264 | €1,695 | -€569 | -25.1% |
| Recurring financial charges | 65 | €2,264 | €1,695 | -€569 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €26,890 | €16,082 | -€10,808 | -40.2% |
| Income taxes | 67/77 | €128 | €152 | +€24 | +19.1% |
| Profit (loss) for the period | 9904 | €26,762 | €15,929 | -€10,833 | -40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,762 | €15,929 | -€10,833 | -40.5% |
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 18 October 2026 via checked.be.