KINN-ETHICS: what changed
KINN-ETHICS
Largest movements
- Tangible fixed assets -€42,462
down €42,462 (-12.6%), from €337,630 to €295,168
of which Land and buildings: -€42,043
- Cash -€21,273
down €21,273 (-27.8%), from €76,641 to €55,368
mainly Net result for the year (-€65,683) and Other debts (-€16,213)
- Stocks and contracts -€20,720
down €20,720 (-16.9%), from €122,900 to €102,180
- Profit (loss) carried forward -€65,683
down €65,683 (-102%), from -€64,205 to -€129,888
- Other debts -€16,213
down €16,213 (-5.6%), from €291,785 to €275,571
- Other operating charges +€8,828
up €8,828 (+214%), from €4,126 to €12,954
- Taxes -€5,701
down €5,701 (-39.1%), from €14,598 to €8,896
- Gross operating margin +€1,220
up €1,220 (+43.8%), from -€2,788 to -€1,568
- Financial charges -€317
down €317 (-75.1%), from €422 to €105
- Financial income +€111
up €111 (+58.5%), from €191 to €302
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €539,952 | €456,242 | -€83,710 | -15.5% |
| Fixed assets | 21/28 | €338,980 | €296,518 | -€42,462 | -12.5% |
| Tangible fixed assets | 22/27 | €337,630 | €295,168 | -€42,462 | -12.6% |
| Land and buildings | 22 | €309,838 | €267,794 | -€42,043 | -13.6% |
| Plant, machinery and equipment | 23 | €2,292 | €1,873 | -€418 | -18.3% |
| Furniture and vehicles | 24 | €25,500 | €25,500 | = | 0.0% |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €200,972 | €159,724 | -€41,248 | -20.5% |
| Stocks and contracts in progress | 3 | €122,900 | €102,180 | -€20,720 | -16.9% |
| Stocks | 30/36 | €122,900 | €102,180 | -€20,720 | -16.9% |
| Amounts receivable within one year | 40/41 | €1,431 | €2,176 | +€745 | +52.1% |
| Other amounts receivable | 41 | €1,431 | €2,176 | +€745 | +52.1% |
| Cash at bank and in hand | 54/58 | €76,641 | €55,368 | -€21,273 | -27.8% |
| Total equity and liabilities | 10/49 | €539,952 | €456,242 | -€83,710 | -15.5% |
| Equity | 10/15 | €245,540 | €179,857 | -€65,683 | -26.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €291,144 | €291,144 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €289,284 | €289,284 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,205 | -€129,888 | -€65,683 | -102% |
| Amounts payable | 17/49 | €294,412 | €276,385 | -€18,027 | -6.1% |
| Amounts payable within one year | 42/48 | €294,412 | €276,385 | -€18,027 | -6.1% |
| Trade debts | 44 | €2,418 | €589 | -€1,829 | -75.7% |
| Suppliers | 440/4 | €2,418 | €589 | -€1,829 | -75.7% |
| Taxes, remuneration and social security | 45 | €210 | €225 | +€15 | +7.2% |
| Taxes | 450/3 | €210 | €225 | +€15 | +7.2% |
| Other amounts payable | 47/48 | €291,785 | €275,571 | -€16,213 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,462 | €42,462 | = | 0.0% |
| Other operating charges | 640/8 | €4,126 | €12,954 | +€8,828 | +214% |
| Gross operating margin | 9900 | -€2,788 | -€1,568 | +€1,220 | +43.8% |
| Operating profit (loss) | 9901 | -€49,376 | -€56,983 | -€7,608 | -15.4% |
| Financial income | 75/76B | €191 | €302 | +€111 | +58.5% |
| Recurring financial income | 75 | €191 | €302 | +€111 | +58.5% |
| Financial charges | 65/66B | €422 | €105 | -€317 | -75.1% |
| Recurring financial charges | 65 | €422 | €105 | -€317 | -75.1% |
| Profit (loss) for the period before taxes | 9903 | -€49,607 | -€56,786 | -€7,179 | -14.5% |
| Income taxes | 67/77 | €14,598 | €8,896 | -€5,701 | -39.1% |
| Profit (loss) for the period | 9904 | -€64,205 | -€65,683 | -€1,478 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,205 | -€65,683 | -€1,478 | -2.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.