KineWest: 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.
KineWest
Largest movements
- Receivables within one year -€124,491
down €124,491 (-92.0%), from €135,347 to €10,856
of which Other amounts receivable: -€116,727
- Tangible fixed assets +€122,007
up €122,007 (+17.7%), from €688,353 to €810,360
of which Land and buildings: +€115,221
- Cash -€9,346
down €9,346 (-59.5%), from €15,700 to €6,354
mainly Investment in fixed assets (net) (-€157,375) and Trade debts (-€41,370)
- Trade debts -€41,370
down €41,370 (-97.9%), from €42,273 to €904
- Debts after one year +€14,777
up €14,777 (+1.8%), from €810,363 to €825,140
of which Other amounts payable: +€52,000
- Profit (loss) carried forward +€11,351
up €11,351 (+20.8%), from -€54,670 to -€43,318
- Gross operating margin +€44,431
up €44,431 (+229.2%), from €19,388 to €63,818
- Depreciation +€35,368
new in 2025: €35,368
- Financial charges +€8,001
up €8,001 (+94.3%), from €8,481 to €16,481
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 | €840,656 | €829,391 | -€11,266 | -1.3% |
| Fixed assets | 21/28 | €688,353 | €810,360 | +€122,007 | +17.7% |
| Tangible fixed assets | 22/27 | €688,353 | €810,360 | +€122,007 | +17.7% |
| Land and buildings | 22 | €687,348 | €802,569 | +€115,221 | +16.8% |
| Plant, machinery and equipment | 23 | €650 | €4,736 | +€4,086 | +628.6% |
| Furniture and vehicles | 24 | €354 | €3,054 | +€2,700 | +762.4% |
| Current assets | 29/58 | €152,304 | €19,031 | -€133,272 | -87.5% |
| Amounts receivable within one year | 40/41 | €135,347 | €10,856 | -€124,491 | -92.0% |
| Trade receivables | 40 | €18,620 | €10,856 | -€7,764 | -41.7% |
| Other amounts receivable | 41 | €116,727 | €0 | -€116,727 | -100.0% |
| Cash at bank and in hand | 54/58 | €15,700 | €6,354 | -€9,346 | -59.5% |
| Deferred charges and accrued income | 490/1 | €1,257 | €1,821 | +€565 | +44.9% |
| Total equity and liabilities | 10/49 | €840,656 | €829,391 | -€11,266 | -1.3% |
| Equity | 10/15 | -€49,670 | -€38,318 | +€11,351 | +22.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,670 | -€43,318 | +€11,351 | +20.8% |
| Amounts payable | 17/49 | €890,326 | €867,709 | -€22,617 | -2.5% |
| Amounts payable after more than one year | 17 | €810,363 | €825,140 | +€14,777 | +1.8% |
| Financial debts | 170/4 | €744,363 | €707,140 | -€37,223 | -5.0% |
| Other amounts payable | 178/9 | €66,000 | €118,000 | +€52,000 | +78.8% |
| Amounts payable within one year | 42/48 | €78,829 | €41,196 | -€37,634 | -47.7% |
| Current portion of amounts payable after more than one year | 42 | €36,556 | €40,292 | +€3,736 | +10.2% |
| Trade debts | 44 | €42,273 | €904 | -€41,370 | -97.9% |
| Suppliers | 440/4 | €42,273 | €904 | -€41,370 | -97.9% |
| Accrued charges and deferred income | 492/3 | €1,133 | €1,373 | +€240 | +21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €35,368 | +€35,368 | |
| Other operating charges | 640/8 | €581 | €648 | +€66 | +11.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €19,388 | €63,818 | +€44,431 | +229.2% |
| Operating profit (loss) | 9901 | €18,806 | €27,803 | +€8,996 | +47.8% |
| Financial income | 75/76B | - | €30 | +€30 | |
| Recurring financial income | 75 | - | €30 | +€30 | |
| Financial charges | 65/66B | €8,481 | €16,481 | +€8,001 | +94.3% |
| Recurring financial charges | 65 | €8,481 | €16,481 | +€8,001 | +94.3% |
| Profit (loss) for the period before taxes | 9903 | €10,325 | €11,351 | +€1,026 | +9.9% |
| Profit (loss) for the period | 9904 | €10,325 | €11,351 | +€1,026 | +9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,325 | €11,351 | +€1,026 | +9.9% |
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 4 October 2026 via checked.be.