KINERVA: 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.
KINERVA
Largest movements
- Cash +€31,275
up €31,275 (+99.3%), from €31,496 to €62,772
mainly Depreciation (+€13,015) and Net result for the year (+€11,788)
- Tangible fixed assets -€13,015
down €13,015 (-19.1%), from €68,315 to €55,300
of which Land and buildings: -€12,519
- Profit (loss) carried forward +€11,788
up €11,788 (+144.0%), from €8,185 to €19,973
- Trade debts +€8,003
up €8,003 (+50.3%), from €15,913 to €23,916
- Debts after one year -€7,073
down €7,073 (-12.5%), from €56,714 to €49,642
- Tax, wage and social debts +€3,401
up €3,401 (+62.2%), from €5,470 to €8,871
of which Taxes: +€3,401
- Other debts +€2,899
up €2,899 (+50.1%), from €5,788 to €8,687
- Gross operating margin +€10,997
up €10,997 (+52.4%), from €21,003 to €32,000
- Depreciation +€5,573
up €5,573 (+74.9%), from €7,442 to €13,015
- Taxes +€1,230
up €1,230 (+56.7%), from €2,170 to €3,401
- Financial charges +€641
up €641 (+20.3%), from €3,155 to €3,796
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 | €100,747 | €120,161 | +€19,414 | +19.3% |
| Fixed assets | 21/28 | €69,069 | €56,054 | -€13,015 | -18.8% |
| Tangible fixed assets | 22/27 | €68,315 | €55,300 | -€13,015 | -19.1% |
| Land and buildings | 22 | €66,844 | €54,325 | -€12,519 | -18.7% |
| Furniture and vehicles | 24 | €1,471 | €975 | -€496 | -33.7% |
| Financial fixed assets | 28 | €754 | €754 | = | 0.0% |
| Current assets | 29/58 | €31,678 | €64,107 | +€32,429 | +102.4% |
| Cash at bank and in hand | 54/58 | €31,496 | €62,772 | +€31,275 | +99.3% |
| Deferred charges and accrued income | 490/1 | €182 | €1,336 | +€1,154 | +633.9% |
| Total equity and liabilities | 10/49 | €100,747 | €120,161 | +€19,414 | +19.3% |
| Equity | 10/15 | €10,185 | €21,973 | +€11,788 | +115.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,185 | €19,973 | +€11,788 | +144.0% |
| Amounts payable | 17/49 | €90,562 | €98,188 | +€7,626 | +8.4% |
| Amounts payable after more than one year | 17 | €56,714 | €49,642 | -€7,073 | -12.5% |
| Financial debts | 170/4 | €56,714 | €49,642 | -€7,073 | -12.5% |
| Amounts payable within one year | 42/48 | €33,848 | €48,547 | +€14,699 | +43.4% |
| Current portion of amounts payable after more than one year | 42 | €6,676 | €7,073 | +€397 | +5.9% |
| Trade debts | 44 | €15,913 | €23,916 | +€8,003 | +50.3% |
| Suppliers | 440/4 | €15,913 | €23,916 | +€8,003 | +50.3% |
| Taxes, remuneration and social security | 45 | €5,470 | €8,871 | +€3,401 | +62.2% |
| Taxes | 450/3 | €3,970 | €7,371 | +€3,401 | +85.7% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €5,788 | €8,687 | +€2,899 | +50.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,442 | €13,015 | +€5,573 | +74.9% |
| Other operating charges | 640/8 | €50 | - | -€50 | |
| Gross operating margin | 9900 | €21,003 | €32,000 | +€10,997 | +52.4% |
| Operating profit (loss) | 9901 | €13,510 | €18,985 | +€5,475 | +40.5% |
| Financial charges | 65/66B | €3,155 | €3,796 | +€641 | +20.3% |
| Recurring financial charges | 65 | €3,155 | €3,796 | +€641 | +20.3% |
| Profit (loss) for the period before taxes | 9903 | €10,355 | €15,189 | +€4,834 | +46.7% |
| Income taxes | 67/77 | €2,170 | €3,401 | +€1,230 | +56.7% |
| Profit (loss) for the period | 9904 | €8,185 | €11,788 | +€3,603 | +44.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,185 | €11,788 | +€3,603 | +44.0% |
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.