KIP ROYAL: 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.
KIP ROYAL
Largest movements
- Cash +€145,322
up €145,322 (+36.2%), from €400,917 to €546,239
mainly Net result for the year (+€90,937) and Other debts (+€45,055)
- Tangible fixed assets -€33,131
down €33,131 (-20.8%), from €159,080 to €125,950
of which Furniture and vehicles: -€27,256
- Receivables within one year -€19,448
down €19,448 (-91.6%), from €21,242 to €1,795
of which Other amounts receivable: -€18,315
- Reserves +€45,937
up €45,937 (+17.9%), from €257,114 to €303,051
- Other debts +€45,055
up €45,055 (+80.4%), from €56,031 to €101,085
- Gross operating margin -€81,966
down €81,966 (-30.7%), from €267,262 to €185,297
- Taxes -€28,116
down €28,116 (-61.4%), from €45,795 to €17,678
- Financial charges +€4,994
up €4,994 (+34.8%), from €14,360 to €19,354
- Depreciation +€4,850
up €4,850 (+12.5%), from €38,858 to €43,708
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 | €584,286 | €677,109 | +€92,823 | +15.9% |
| Fixed assets | 21/28 | €159,215 | €125,950 | -€33,266 | -20.9% |
| Tangible fixed assets | 22/27 | €159,080 | €125,950 | -€33,131 | -20.8% |
| Land and buildings | 22 | €32,626 | €28,923 | -€3,703 | -11.3% |
| Plant, machinery and equipment | 23 | €5,375 | €3,204 | -€2,172 | -40.4% |
| Furniture and vehicles | 24 | €121,079 | €93,823 | -€27,256 | -22.5% |
| Financial fixed assets | 28 | €135 | €0 | -€135 | -100% |
| Current assets | 29/58 | €425,071 | €551,159 | +€126,088 | +29.7% |
| Stocks and contracts in progress | 3 | €1,000 | €1,000 | = | 0.0% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,242 | €1,795 | -€19,448 | -91.6% |
| Trade receivables | 40 | €1,133 | €0 | -€1,133 | -100% |
| Other amounts receivable | 41 | €20,110 | €1,795 | -€18,315 | -91.1% |
| Cash at bank and in hand | 54/58 | €400,917 | €546,239 | +€145,322 | +36.2% |
| Deferred charges and accrued income | 490/1 | €1,911 | €2,126 | +€215 | +11.2% |
| Total equity and liabilities | 10/49 | €584,286 | €677,109 | +€92,823 | +15.9% |
| Equity | 10/15 | €277,114 | €323,051 | +€45,937 | +16.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €257,114 | €303,051 | +€45,937 | +17.9% |
| Distributable reserves | 133 | €257,114 | €303,051 | +€45,937 | +17.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €307,172 | €354,058 | +€46,886 | +15.3% |
| Amounts payable after more than one year | 17 | €214,000 | €214,000 | = | 0.0% |
| Financial debts | 170/4 | €214,000 | €214,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €93,172 | €140,058 | +€46,886 | +50.3% |
| Trade debts | 44 | €32,125 | €31,653 | -€472 | -1.5% |
| Suppliers | 440/4 | €32,125 | €31,653 | -€472 | -1.5% |
| Taxes, remuneration and social security | 45 | €5,017 | €7,319 | +€2,302 | +45.9% |
| Taxes | 450/3 | €5,017 | €7,319 | +€2,302 | +45.9% |
| Other amounts payable | 47/48 | €56,031 | €101,085 | +€45,055 | +80.4% |
| Remuneration, social security and pensions | 62 | €3,987 | €3,832 | -€155 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,858 | €43,708 | +€4,850 | +12.5% |
| Other operating charges | 640/8 | €7,633 | €10,166 | +€2,532 | +33.2% |
| Gross operating margin | 9900 | €267,262 | €185,297 | -€81,966 | -30.7% |
| Operating profit (loss) | 9901 | €216,784 | €127,591 | -€89,192 | -41.1% |
| Financial income | 75/76B | €5 | €378 | +€373 | +7,131% |
| Recurring financial income | 75 | €5 | €378 | +€373 | +7,131% |
| Financial charges | 65/66B | €14,360 | €19,354 | +€4,994 | +34.8% |
| Recurring financial charges | 65 | €14,360 | €19,354 | +€4,994 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | €202,429 | €108,616 | -€93,813 | -46.3% |
| Income taxes | 67/77 | €45,795 | €17,678 | -€28,116 | -61.4% |
| Profit (loss) for the period | 9904 | €156,634 | €90,937 | -€65,697 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €156,634 | €90,937 | -€65,697 | -41.9% |
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 26 October 2026 via checked.be.