KINESO: 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.
KINESO
Largest movements
- Tangible fixed assets -€42,144
down €42,144 (-8.2%), from €512,705 to €470,561
of which Land and buildings: -€33,238
- Cash +€18,769
up €18,769 (+10.6%), from €176,918 to €195,688
mainly Depreciation (+€43,628) and Net result for the year (+€21,312)
- Debts after one year -€38,608
down €38,608 (-11.7%), from €330,744 to €292,136
- Reserves +€21,312
up €21,312 (+9.9%), from €214,467 to €235,780
of which Distributable reserves: +€21,312
- Other debts -€14,952
down €14,952 (-27.8%), from €53,802 to €38,850
- Trade debts +€7,387
up €7,387 (+28.9%), from €25,567 to €32,954
- Financial income +€4,774
up €4,774 (+786.8%), from €607 to €5,381
- Financial charges +€3,417
up €3,417 (+28.4%), from €12,050 to €15,467
- Other operating charges +€2,991
up €2,991 (+53.8%), from €5,556 to €8,547
- Gross operating margin -€2,803
down €2,803 (-2.9%), from €97,848 to €95,045
- Depreciation -€1,653
down €1,653 (-3.7%), from €45,282 to €43,628
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 | €691,750 | €669,287 | -€22,463 | -3.2% |
| Fixed assets | 21/28 | €512,705 | €470,561 | -€42,144 | -8.2% |
| Tangible fixed assets | 22/27 | €512,705 | €470,561 | -€42,144 | -8.2% |
| Land and buildings | 22 | €478,103 | €444,865 | -€33,238 | -7.0% |
| Plant, machinery and equipment | 23 | €7,440 | €4,183 | -€3,257 | -43.8% |
| Furniture and vehicles | 24 | €683 | €1,274 | +€592 | +86.6% |
| Other tangible fixed assets | 26 | €26,479 | €20,239 | -€6,241 | -23.6% |
| Current assets | 29/58 | €179,044 | €198,726 | +€19,681 | +11.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €176,918 | €195,688 | +€18,769 | +10.6% |
| Deferred charges and accrued income | 490/1 | €2,126 | €3,038 | +€912 | +42.9% |
| Total equity and liabilities | 10/49 | €691,750 | €669,287 | -€22,463 | -3.2% |
| Equity | 10/15 | €220,667 | €241,980 | +€21,312 | +9.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €214,467 | €235,780 | +€21,312 | +9.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €773 | €773 | = | 0.0% |
| Distributable reserves | 133 | €211,834 | €233,146 | +€21,312 | +10.1% |
| Amounts payable | 17/49 | €471,082 | €427,307 | -€43,775 | -9.3% |
| Amounts payable after more than one year | 17 | €330,744 | €292,136 | -€38,608 | -11.7% |
| Financial debts | 170/4 | €330,744 | €292,136 | -€38,608 | -11.7% |
| Amounts payable within one year | 42/48 | €136,346 | €131,891 | -€4,454 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €37,955 | €38,608 | +€652 | +1.7% |
| Trade debts | 44 | €25,567 | €32,954 | +€7,387 | +28.9% |
| Suppliers | 440/4 | €25,567 | €32,954 | +€7,387 | +28.9% |
| Taxes, remuneration and social security | 45 | €19,021 | €21,480 | +€2,459 | +12.9% |
| Taxes | 450/3 | €19,021 | €21,480 | +€2,459 | +12.9% |
| Other amounts payable | 47/48 | €53,802 | €38,850 | -€14,952 | -27.8% |
| Accrued charges and deferred income | 492/3 | €3,993 | €3,280 | -€713 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,282 | €43,628 | -€1,653 | -3.7% |
| Other operating charges | 640/8 | €5,556 | €8,547 | +€2,991 | +53.8% |
| Gross operating margin | 9900 | €97,848 | €95,045 | -€2,803 | -2.9% |
| Operating profit (loss) | 9901 | €47,010 | €42,870 | -€4,140 | -8.8% |
| Financial income | 75/76B | €607 | €5,381 | +€4,774 | +786.8% |
| Recurring financial income | 75 | €607 | €5,381 | +€4,774 | +786.8% |
| Financial charges | 65/66B | €12,050 | €15,467 | +€3,417 | +28.4% |
| Recurring financial charges | 65 | €12,050 | €15,467 | +€3,417 | +28.4% |
| Profit (loss) for the period before taxes | 9903 | €35,567 | €32,783 | -€2,783 | -7.8% |
| Income taxes | 67/77 | €12,732 | €11,471 | -€1,261 | -9.9% |
| Profit (loss) for the period | 9904 | €22,835 | €21,312 | -€1,523 | -6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,835 | €21,312 | -€1,523 | -6.7% |
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.