KINEWIL: 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.
KINEWIL
Largest movements
- Cash +€6,372
up €6,372 (+1067.7%), from €597 to €6,969
mainly Depreciation (+€12,617) and Short-term financial debts (+€10,160)
- Receivables within one year +€2,208
up €2,208 (+5.7%), from €38,479 to €40,687
of which Other amounts receivable: +€5,045
- Short-term financial debts +€10,160
new in 2025: €10,160
- Reserves +€7,470
up €7,470 (+6.9%), from €108,438 to €115,908
of which Distributable reserves: +€7,470
- Current portion of long-term debt -€6,570
down €6,570 (-62.1%), from €10,584 to €4,015
- Debts after one year -€4,015
down €4,015 (-11.4%), from €35,320 to €31,306
- Gross operating margin -€2,623
down €2,623 (-8.0%), from €32,836 to €30,213
- Other operating charges +€2,054
up €2,054 (+57.9%), from €3,546 to €5,599
- Taxes -€1,762
down €1,762 (-27.3%), from €6,455 to €4,694
- Depreciation +€1,481
up €1,481 (+13.3%), from €11,136 to €12,617
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 | €177,822 | €186,404 | +€8,582 | +4.8% |
| Fixed assets | 21/28 | €51,260 | €50,784 | -€476 | -0.9% |
| Tangible fixed assets | 22/27 | €51,260 | €50,784 | -€476 | -0.9% |
| Furniture and vehicles | 24 | €969 | €16,921 | +€15,952 | +1646.4% |
| Leasing and similar rights | 25 | €12,098 | €0 | -€12,098 | -100.0% |
| Other tangible fixed assets | 26 | €38,192 | €33,863 | -€4,330 | -11.3% |
| Current assets | 29/58 | €126,562 | €135,620 | +€9,059 | +7.2% |
| Amounts receivable after more than one year | 29 | €80,000 | €80,000 | = | 0.0% |
| Other amounts receivable | 291 | €80,000 | €80,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €38,479 | €40,687 | +€2,208 | +5.7% |
| Trade receivables | 40 | €16,412 | €13,574 | -€2,838 | -17.3% |
| Other amounts receivable | 41 | €22,067 | €27,112 | +€5,045 | +22.9% |
| Cash at bank and in hand | 54/58 | €597 | €6,969 | +€6,372 | +1067.7% |
| Deferred charges and accrued income | 490/1 | €7,486 | €7,965 | +€479 | +6.4% |
| Total equity and liabilities | 10/49 | €177,822 | €186,404 | +€8,582 | +4.8% |
| Equity | 10/15 | €114,638 | €122,108 | +€7,470 | +6.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €108,438 | €115,908 | +€7,470 | +6.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €106,578 | €114,048 | +€7,470 | +7.0% |
| Amounts payable | 17/49 | €63,183 | €64,296 | +€1,113 | +1.8% |
| Amounts payable after more than one year | 17 | €35,320 | €31,306 | -€4,015 | -11.4% |
| Financial debts | 170/4 | €35,320 | €31,306 | -€4,015 | -11.4% |
| Amounts payable within one year | 42/48 | €27,768 | €32,990 | +€5,222 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €10,584 | €4,015 | -€6,570 | -62.1% |
| Financial debts | 43 | - | €10,160 | +€10,160 | |
| Credit institutions | 430/8 | - | €10,160 | +€10,160 | |
| Trade debts | 44 | €6,607 | €7,342 | +€735 | +11.1% |
| Suppliers | 440/4 | €6,607 | €7,342 | +€735 | +11.1% |
| Taxes, remuneration and social security | 45 | €10,577 | €11,474 | +€896 | +8.5% |
| Taxes | 450/3 | €7,856 | €8,648 | +€792 | +10.1% |
| Remuneration and social security | 454/9 | €2,721 | €2,826 | +€105 | +3.8% |
| Accrued charges and deferred income | 492/3 | €95 | €0 | -€95 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,136 | €12,617 | +€1,481 | +13.3% |
| Other operating charges | 640/8 | €3,546 | €5,599 | +€2,054 | +57.9% |
| Gross operating margin | 9900 | €32,836 | €30,213 | -€2,623 | -8.0% |
| Operating profit (loss) | 9901 | €18,154 | €11,996 | -€6,158 | -33.9% |
| Financial income | 75/76B | €3,059 | €3,340 | +€281 | +9.2% |
| Recurring financial income | 75 | €3,059 | €3,340 | +€281 | +9.2% |
| Financial charges | 65/66B | €3,352 | €3,173 | -€179 | -5.3% |
| Recurring financial charges | 65 | €3,352 | €3,173 | -€179 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €17,861 | €12,163 | -€5,698 | -31.9% |
| Income taxes | 67/77 | €6,455 | €4,694 | -€1,762 | -27.3% |
| Profit (loss) for the period | 9904 | €11,406 | €7,470 | -€3,936 | -34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,406 | €7,470 | -€3,936 | -34.5% |
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 8 October 2026 via checked.be.