KINTSUGI: 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.
KINTSUGI
Largest movements
- Tangible fixed assets +€23,068
up €23,068 (+7.8%), from €296,216 to €319,284
of which Land and buildings: +€13,651
- Cash +€4,589
up €4,589 (+25.1%), from €18,298 to €22,886
mainly Net result for the year (+€20,835) and Depreciation (+€18,386)
- Receivables within one year -€4,099
down €4,099 (-62.7%), from €6,535 to €2,436
of which Trade receivables: -€4,303
- Deferred charges and accrued income -€3,565
down €3,565 (-56.5%), from €6,312 to €2,746
- Profit (loss) carried forward +€20,835
up €20,835 (+222%), from €9,391 to €30,226
- Other debts -€12,720
down €12,720 (-23.8%), from €53,457 to €40,737
- Current portion of long-term debt +€6,995
up €6,995 (+46.8%), from €14,955 to €21,949
- Debts after one year +€3,680
up €3,680 (+1.6%), from €236,617 to €240,297
- Gross operating margin +€12,323
up €12,323 (+27.8%), from €44,339 to €56,662
- Taxes +€3,208
up €3,208 (+80.2%), from €3,999 to €7,207
- Depreciation +€2,431
up €2,431 (+15.2%), from €15,954 to €18,386
- Financial charges +€927
up €927 (+22.2%), from €4,180 to €5,107
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 | €327,549 | €347,541 | +€19,992 | +6.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €296,405 | €319,473 | +€23,068 | +7.8% |
| Tangible fixed assets | 22/27 | €296,216 | €319,284 | +€23,068 | +7.8% |
| Land and buildings | 22 | €293,008 | €306,659 | +€13,651 | +4.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,208 | €12,625 | +€9,417 | +294% |
| Financial fixed assets | 28 | €189 | €189 | = | 0.0% |
| Current assets | 29/58 | €31,144 | €28,068 | -€3,076 | -9.9% |
| Amounts receivable within one year | 40/41 | €6,535 | €2,436 | -€4,099 | -62.7% |
| Trade receivables | 40 | €6,535 | €2,232 | -€4,303 | -65.8% |
| Other amounts receivable | 41 | - | €204 | +€204 | |
| Cash at bank and in hand | 54/58 | €18,298 | €22,886 | +€4,589 | +25.1% |
| Deferred charges and accrued income | 490/1 | €6,312 | €2,746 | -€3,565 | -56.5% |
| Total equity and liabilities | 10/49 | €327,549 | €347,541 | +€19,992 | +6.1% |
| Equity | 10/15 | €17,391 | €38,226 | +€20,835 | +120% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,391 | €30,226 | +€20,835 | +222% |
| Amounts payable | 17/49 | €310,158 | €309,315 | -€842 | -0.3% |
| Amounts payable after more than one year | 17 | €236,617 | €240,297 | +€3,680 | +1.6% |
| Financial debts | 170/4 | €236,617 | €240,297 | +€3,680 | +1.6% |
| Amounts payable within one year | 42/48 | €73,541 | €69,018 | -€4,523 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €14,955 | €21,949 | +€6,995 | +46.8% |
| Trade debts | 44 | €1,130 | €1,125 | -€5 | -0.5% |
| Suppliers | 440/4 | €1,130 | €1,125 | -€5 | -0.5% |
| Taxes, remuneration and social security | 45 | €3,999 | €5,207 | +€1,208 | +30.2% |
| Taxes | 450/3 | €3,999 | €5,207 | +€1,208 | +30.2% |
| Other amounts payable | 47/48 | €53,457 | €40,737 | -€12,720 | -23.8% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,954 | €18,386 | +€2,431 | +15.2% |
| Other operating charges | 640/8 | €5,013 | €5,303 | +€290 | +5.8% |
| Gross operating margin | 9900 | €44,339 | €56,662 | +€12,323 | +27.8% |
| Operating profit (loss) | 9901 | €23,372 | €32,973 | +€9,601 | +41.1% |
| Financial income | 75/76B | €0 | €175 | +€175 | |
| Recurring financial income | 75 | €0 | €175 | +€175 | |
| Financial charges | 65/66B | €4,180 | €5,107 | +€927 | +22.2% |
| Recurring financial charges | 65 | €4,180 | €5,107 | +€927 | +22.2% |
| Profit (loss) for the period before taxes | 9903 | €19,192 | €28,042 | +€8,850 | +46.1% |
| Income taxes | 67/77 | €3,999 | €7,207 | +€3,208 | +80.2% |
| Profit (loss) for the period | 9904 | €15,193 | €20,835 | +€5,642 | +37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,193 | €20,835 | +€5,642 | +37.1% |
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 28 October 2026 via checked.be.