KINETICS: 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.
KINETICS
Largest movements
- Tangible fixed assets -€154,619
down €154,619 (-20.7%), from €748,099 to €593,480
of which Land and buildings: -€142,369
- Cash +€33,958
up €33,958 (+248.0%), from €13,695 to €47,652
mainly Investment in fixed assets (net) (+€122,737) and Net result for the year (+€67,378)
- Other debts -€93,066
down €93,066 (-28.4%), from €327,240 to €234,174
- Short-term financial debts -€75,000
down €75,000 (-100.0%), from €75,000 to €0
- Reserves +€67,378
up €67,378 (+21.4%), from €315,528 to €382,906
of which Distributable reserves: +€67,378
- Debts after one year -€24,742
down €24,742 (-100.0%), from €24,742 to €0
- Current portion of long-term debt -€8,202
down €8,202 (-100.0%), from €8,202 to €0
- Gross operating margin +€40,825
up €40,825 (+41.3%), from €98,963 to €139,788
- Taxes +€17,403
up €17,403 (+122.7%), from €14,186 to €31,589
- Depreciation -€5,681
down €5,681 (-15.1%), from €37,564 to €31,883
- Other operating charges +€3,665
up €3,665 (+103.3%), from €3,549 to €7,215
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 | €770,088 | €647,289 | -€122,798 | -15.9% |
| Fixed assets | 21/28 | €748,099 | €593,480 | -€154,619 | -20.7% |
| Tangible fixed assets | 22/27 | €748,099 | €593,480 | -€154,619 | -20.7% |
| Land and buildings | 22 | €716,592 | €574,223 | -€142,369 | -19.9% |
| Plant, machinery and equipment | 23 | €20,499 | €11,002 | -€9,497 | -46.3% |
| Furniture and vehicles | 24 | €3,791 | €2,288 | -€1,503 | -39.6% |
| Other tangible fixed assets | 26 | €7,218 | €5,968 | -€1,250 | -17.3% |
| Current assets | 29/58 | €21,988 | €53,809 | +€31,821 | +144.7% |
| Amounts receivable within one year | 40/41 | €6,493 | €4,130 | -€2,362 | -36.4% |
| Trade receivables | 40 | €4,679 | €2,317 | -€2,362 | -50.5% |
| Other amounts receivable | 41 | €1,814 | €1,814 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,695 | €47,652 | +€33,958 | +248.0% |
| Deferred charges and accrued income | 490/1 | €1,800 | €2,026 | +€225 | +12.5% |
| Total equity and liabilities | 10/49 | €770,088 | €647,289 | -€122,798 | -15.9% |
| Equity | 10/15 | €334,120 | €401,498 | +€67,378 | +20.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €315,528 | €382,906 | +€67,378 | +21.4% |
| Tax-exempt reserves | 132 | €2,497 | €2,497 | = | 0.0% |
| Distributable reserves | 133 | €313,031 | €380,410 | +€67,378 | +21.5% |
| Amounts payable | 17/49 | €435,967 | €245,791 | -€190,177 | -43.6% |
| Amounts payable after more than one year | 17 | €24,742 | €0 | -€24,742 | -100.0% |
| Financial debts | 170/4 | €24,742 | €0 | -€24,742 | -100.0% |
| Amounts payable within one year | 42/48 | €411,225 | €245,791 | -€165,435 | -40.2% |
| Current portion of amounts payable after more than one year | 42 | €8,202 | €0 | -€8,202 | -100.0% |
| Financial debts | 43 | €75,000 | €0 | -€75,000 | -100.0% |
| Credit institutions | 430/8 | €75,000 | €0 | -€75,000 | -100.0% |
| Trade debts | 44 | €784 | €5,028 | +€4,244 | +541.7% |
| Suppliers | 440/4 | €784 | €5,028 | +€4,244 | +541.7% |
| Taxes, remuneration and social security | 45 | €0 | €6,589 | +€6,589 | |
| Taxes | 450/3 | €0 | €6,589 | +€6,589 | |
| Other amounts payable | 47/48 | €327,240 | €234,174 | -€93,066 | -28.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €61,485 | +€61,485 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,564 | €31,883 | -€5,681 | -15.1% |
| Other operating charges | 640/8 | €3,549 | €7,215 | +€3,665 | +103.3% |
| Gross operating margin | 9900 | €98,963 | €139,788 | +€40,825 | +41.3% |
| Operating profit (loss) | 9901 | €57,850 | €100,691 | +€42,841 | +74.1% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €1,413 | €1,727 | +€314 | +22.2% |
| Recurring financial charges | 65 | €1,413 | €1,727 | +€314 | +22.2% |
| Profit (loss) for the period before taxes | 9903 | €56,437 | €98,967 | +€42,530 | +75.4% |
| Income taxes | 67/77 | €14,186 | €31,589 | +€17,403 | +122.7% |
| Profit (loss) for the period | 9904 | €42,251 | €67,378 | +€25,127 | +59.5% |
| Profit (loss) for the period to be appropriated | 9905 | €42,251 | €67,378 | +€25,127 | +59.5% |
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 3 October 2026 via checked.be.