Kip-Or: 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.
Kip-Or
Largest movements
- Cash -€23,306
down €23,306 (-51.8%), from €44,971 to €21,665
mainly Debts after one year (-€20,557) and Net result for the year (-€11,611)
- Tangible fixed assets -€14,341
down €14,341 (-3.5%), from €407,240 to €392,899
- Debts after one year -€20,557
down €20,557 (-5.3%), from €390,611 to €370,054
of which Financial debts: -€15,557
- Gross operating margin -€8,840
down €8,840 (-74.2%), from €11,918 to €3,078
- Financial income +€2,756
up €2,756 (+398.7%), from €691 to €3,447
- Other operating charges +€230
up €230 (+4.5%), from €5,158 to €5,388
- Financial charges -€208
down €208 (-17.2%), from €1,209 to €1,000
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 | €775,946 | €744,985 | -€30,961 | -4.0% |
| Fixed assets | 21/28 | €407,240 | €392,899 | -€14,341 | -3.5% |
| Tangible fixed assets | 22/27 | €407,240 | €392,899 | -€14,341 | -3.5% |
| Land and buildings | 22 | €407,240 | €392,899 | -€14,341 | -3.5% |
| Current assets | 29/58 | €368,705 | €352,085 | -€16,620 | -4.5% |
| Amounts receivable within one year | 40/41 | €7,478 | €10,712 | +€3,234 | +43.2% |
| Trade receivables | 40 | €773 | €7,412 | +€6,639 | +858.8% |
| Other amounts receivable | 41 | €6,705 | €3,300 | -€3,405 | -50.8% |
| Current investments | 50/53 | €316,130 | €319,577 | +€3,447 | +1.1% |
| Cash at bank and in hand | 54/58 | €44,971 | €21,665 | -€23,306 | -51.8% |
| Deferred charges and accrued income | 490/1 | €126 | €130 | +€4 | +3.4% |
| Total equity and liabilities | 10/49 | €775,946 | €744,985 | -€30,961 | -4.0% |
| Equity | 10/15 | €323,447 | €311,836 | -€11,611 | -3.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €246,539 | €241,287 | -€5,252 | -2.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €88,904 | €83,652 | -€5,252 | -5.9% |
| Distributable reserves | 133 | €151,435 | €151,435 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,908 | €8,549 | -€6,359 | -42.7% |
| Provisions and deferred taxes | 16 | €45,533 | €42,844 | -€2,689 | -5.9% |
| Deferred taxes | 168 | €45,533 | €42,844 | -€2,689 | -5.9% |
| Amounts payable | 17/49 | €406,966 | €390,305 | -€16,661 | -4.1% |
| Amounts payable after more than one year | 17 | €390,611 | €370,054 | -€20,557 | -5.3% |
| Financial debts | 170/4 | €35,411 | €19,854 | -€15,557 | -43.9% |
| Other amounts payable | 178/9 | €355,200 | €350,200 | -€5,000 | -1.4% |
| Amounts payable within one year | 42/48 | €16,354 | €20,250 | +€3,896 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €15,248 | €15,557 | +€309 | +2.0% |
| Trade debts | 44 | €436 | €90 | -€346 | -79.4% |
| Suppliers | 440/4 | €436 | €90 | -€346 | -79.4% |
| Other amounts payable | 47/48 | €670 | €4,604 | +€3,933 | +586.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,341 | €14,341 | = | 0.0% |
| Other operating charges | 640/8 | €5,158 | €5,388 | +€230 | +4.5% |
| Gross operating margin | 9900 | €11,918 | €3,078 | -€8,840 | -74.2% |
| Operating profit (loss) | 9901 | -€7,580 | -€16,650 | -€9,070 | -119.6% |
| Financial income | 75/76B | €691 | €3,447 | +€2,756 | +398.7% |
| Recurring financial income | 75 | €691 | €3,447 | +€2,756 | +398.7% |
| Financial charges | 65/66B | €1,209 | €1,000 | -€208 | -17.2% |
| Recurring financial charges | 65 | €1,209 | €1,000 | -€208 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,098 | -€14,203 | -€6,106 | -75.4% |
| Transfer from deferred taxes | 780 | €2,689 | €2,689 | = | 0.0% |
| Income taxes | 67/77 | €100 | €97 | -€3 | -3.2% |
| Profit (loss) for the period | 9904 | -€5,509 | -€11,611 | -€6,102 | -110.8% |
| Transfer from tax-exempt reserves | 789 | €5,252 | €5,252 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€257 | -€6,359 | -€6,102 | -2377.2% |
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.