KINEXCELLENCE: 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.
KINEXCELLENCE
Largest movements
- Tangible fixed assets -€13,525
down €13,525 (-38.7%), from €34,933 to €21,408
- Deferred charges and accrued income -€6,075
down €6,075 (-18.3%), from €33,164 to €27,089
- Receivables within one year -€5,925
down €5,925 (-6.6%), from €90,420 to €84,495
of which Trade receivables: -€10,391
- Tax, wage and social debts -€16,495
down €16,495 (-58.7%), from €28,090 to €11,595
of which Taxes: -€18,255
- Profit (loss) carried forward -€12,594
down €12,594 (-23.2%), from €54,287 to €41,693
- Debts after one year -€9,332
down €9,332 (-53.6%), from €17,410 to €8,078
- Current portion of long-term debt +€7,880
up €7,880 (+88.0%), from €8,951 to €16,832
- Short-term financial debts +€4,981
new in 2025: €4,981
- Financial charges +€39,972
up €39,972 (+1,415%), from €2,825 to €42,797
- Taxes -€9,039
no longer reported in 2025 (was €9,039)
- Gross operating margin -€6,347
down €6,347 (-13.6%), from €46,703 to €40,355
- Financial income +€3,372
up €3,372 (+318,111%), from €1 to €3,373
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.
Derived cash bridge
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 | €159,049 | €132,992 | -€26,058 | -16.4% |
| Fixed assets | 21/28 | €34,933 | €21,408 | -€13,525 | -38.7% |
| Tangible fixed assets | 22/27 | €34,933 | €21,408 | -€13,525 | -38.7% |
| Furniture and vehicles | 24 | €34,933 | €21,408 | -€13,525 | -38.7% |
| Current assets | 29/58 | €124,116 | €111,584 | -€12,532 | -10.1% |
| Amounts receivable within one year | 40/41 | €90,420 | €84,495 | -€5,925 | -6.6% |
| Trade receivables | 40 | €26,828 | €16,437 | -€10,391 | -38.7% |
| Other amounts receivable | 41 | €63,592 | €68,058 | +€4,466 | +7.0% |
| Cash at bank and in hand | 54/58 | €532 | - | -€532 | |
| Deferred charges and accrued income | 490/1 | €33,164 | €27,089 | -€6,075 | -18.3% |
| Total equity and liabilities | 10/49 | €159,049 | €132,992 | -€26,058 | -16.4% |
| Equity | 10/15 | €99,624 | €87,030 | -€12,594 | -12.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €42,337 | €42,337 | = | 0.0% |
| Distributable reserves | 133 | €42,337 | €42,337 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,287 | €41,693 | -€12,594 | -23.2% |
| Amounts payable | 17/49 | €59,425 | €45,962 | -€13,464 | -22.7% |
| Amounts payable after more than one year | 17 | €17,410 | €8,078 | -€9,332 | -53.6% |
| Financial debts | 170/4 | €17,410 | €8,078 | -€9,332 | -53.6% |
| Amounts payable within one year | 42/48 | €41,265 | €37,883 | -€3,382 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €8,951 | €16,832 | +€7,880 | +88.0% |
| Financial debts | 43 | - | €4,981 | +€4,981 | |
| Credit institutions | 430/8 | - | €4,981 | +€4,981 | |
| Trade debts | 44 | €4,223 | €4,475 | +€252 | +6.0% |
| Suppliers | 440/4 | €4,223 | €4,475 | +€252 | +6.0% |
| Taxes, remuneration and social security | 45 | €28,090 | €11,595 | -€16,495 | -58.7% |
| Taxes | 450/3 | €28,090 | €9,835 | -€18,255 | -65.0% |
| Remuneration and social security | 454/9 | - | €1,760 | +€1,760 | |
| Accrued charges and deferred income | 492/3 | €750 | - | -€750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,679 | €13,525 | -€153 | -1.1% |
| Other operating charges | 640/8 | €447 | - | -€447 | |
| Gross operating margin | 9900 | €46,703 | €40,355 | -€6,347 | -13.6% |
| Operating profit (loss) | 9901 | €32,577 | €26,830 | -€5,747 | -17.6% |
| Financial income | 75/76B | €1 | €3,373 | +€3,372 | +318,111% |
| Recurring financial income | 75 | €1 | €3,373 | +€3,372 | +318,111% |
| Financial charges | 65/66B | €2,825 | €42,797 | +€39,972 | +1,415% |
| Recurring financial charges | 65 | €2,825 | €42,797 | +€39,972 | +1,415% |
| Profit (loss) for the period before taxes | 9903 | €29,752 | -€12,594 | -€42,347 | |
| Income taxes | 67/77 | €9,039 | - | -€9,039 | |
| Profit (loss) for the period | 9904 | €20,713 | -€12,594 | -€33,307 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,713 | -€12,594 | -€33,307 |
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 18 October 2026 via checked.be.