KINESUD: 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.
KINESUD
Largest movements
- Tangible fixed assets -€11,965
down €11,965 (-29.4%), from €40,677 to €28,712
of which Furniture and vehicles: -€14,157
- Cash +€8,623
up €8,623 (+10.4%), from €83,293 to €91,917
mainly Depreciation (+€14,255) and Net result for the year (+€9,288)
- Receivables within one year +€2,854
up €2,854 (+23.9%), from €11,942 to €14,795
of which Other amounts receivable: +€4,000
- Reserves +€8,450
up €8,450 (+24.9%), from €33,900 to €42,350
- Current portion of long-term debt -€6,079
down €6,079 (-57.8%), from €10,518 to €4,439
- Debts after one year -€4,439
no longer reported in 2025 (was €4,439)
- Short-term financial debts +€4,326
up €4,326 (+23.9%), from €18,104 to €22,430
- Tax, wage and social debts -€3,265
down €3,265 (-45.6%), from €7,159 to €3,895
- Gross operating margin +€4,865
up €4,865 (+18.4%), from €26,447 to €31,312
- Taxes +€1,831
up €1,831 (+57.2%), from €3,203 to €5,034
- Depreciation +€1,765
up €1,765 (+14.1%), from €12,489 to €14,255
- Financial income +€666
up €666 (+463.9%), from €143 to €809
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 | €138,260 | €137,840 | -€420 | -0.3% |
| Fixed assets | 21/28 | €40,677 | €28,712 | -€11,965 | -29.4% |
| Tangible fixed assets | 22/27 | €40,677 | €28,712 | -€11,965 | -29.4% |
| Land and buildings | 22 | €20,821 | €12,213 | -€8,608 | -41.3% |
| Plant, machinery and equipment | 23 | €1,900 | €12,700 | +€10,800 | +568.6% |
| Furniture and vehicles | 24 | €17,956 | €3,800 | -€14,157 | -78.8% |
| Current assets | 29/58 | €97,583 | €109,128 | +€11,545 | +11.8% |
| Amounts receivable within one year | 40/41 | €11,942 | €14,795 | +€2,854 | +23.9% |
| Trade receivables | 40 | €11,942 | €10,795 | -€1,146 | -9.6% |
| Other amounts receivable | 41 | - | €4,000 | +€4,000 | |
| Cash at bank and in hand | 54/58 | €83,293 | €91,917 | +€8,623 | +10.4% |
| Deferred charges and accrued income | 490/1 | €2,348 | €2,416 | +€68 | +2.9% |
| Total equity and liabilities | 10/49 | €138,260 | €137,840 | -€420 | -0.3% |
| Equity | 10/15 | €96,579 | €105,033 | +€8,455 | +8.8% |
| Contributions | 10/11 | €62,634 | €62,634 | = | 0.0% |
| Reserves | 13 | €33,900 | €42,350 | +€8,450 | +24.9% |
| Distributable reserves | 133 | €33,900 | €42,350 | +€8,450 | +24.9% |
| Profit (loss) carried forward | 14 | €45 | €49 | +€5 | +10.2% |
| Amounts payable | 17/49 | €41,681 | €32,806 | -€8,875 | -21.3% |
| Amounts payable after more than one year | 17 | €4,439 | - | -€4,439 | |
| Financial debts | 170/4 | €4,439 | - | -€4,439 | |
| Amounts payable within one year | 42/48 | €36,592 | €32,156 | -€4,436 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €10,518 | €4,439 | -€6,079 | -57.8% |
| Financial debts | 43 | €18,104 | €22,430 | +€4,326 | +23.9% |
| Credit institutions | 430/8 | €18,104 | €22,430 | +€4,326 | +23.9% |
| Trade debts | 44 | €11 | - | -€11 | |
| Suppliers | 440/4 | €11 | - | -€11 | |
| Taxes, remuneration and social security | 45 | €7,159 | €3,895 | -€3,265 | -45.6% |
| Taxes | 450/3 | €7,159 | €3,895 | -€3,265 | -45.6% |
| Other amounts payable | 47/48 | €800 | €1,393 | +€593 | +74.1% |
| Accrued charges and deferred income | 492/3 | €650 | €650 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €2,313 | €2,313 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,489 | €14,255 | +€1,765 | +14.1% |
| Other operating charges | 640/8 | €857 | €883 | +€26 | +3.0% |
| Gross operating margin | 9900 | €26,447 | €31,312 | +€4,865 | +18.4% |
| Operating profit (loss) | 9901 | €10,788 | €13,862 | +€3,074 | +28.5% |
| Financial income | 75/76B | €143 | €809 | +€666 | +463.9% |
| Recurring financial income | 75 | €143 | €809 | +€666 | +463.9% |
| Financial charges | 65/66B | €563 | €349 | -€213 | -37.9% |
| Recurring financial charges | 65 | €563 | €349 | -€213 | -37.9% |
| Profit (loss) for the period before taxes | 9903 | €10,369 | €14,322 | +€3,953 | +38.1% |
| Income taxes | 67/77 | €3,203 | €5,034 | +€1,831 | +57.2% |
| Profit (loss) for the period | 9904 | €7,166 | €9,288 | +€2,122 | +29.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,166 | €9,288 | +€2,122 | +29.6% |
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.