KIPFOUMAY: 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.
KIPFOUMAY
Largest movements
- Receivables within one year +€194,775
up €194,775 (+82.3%), from €236,751 to €431,526
- Cash -€19,503
down €19,503 (-11.6%), from €168,696 to €149,192
mainly Receivables within one year (-€194,775) and Contributions, distributions and other (-€20,000)
- Trade debts +€127,775
up €127,775 (+51.8%), from €246,629 to €374,404
- Profit (loss) carried forward +€42,066
up €42,066 (+37.7%), from €111,627 to €153,693
- Other debts +€20,022
up €20,022 (+2985.8%), from €671 to €20,693
- Tax, wage and social debts -€13,184
down €13,184 (-30.7%), from €42,968 to €29,784
of which Taxes: -€9,919
- Gross operating margin +€59,535
up €59,535 (+59.2%), from €100,635 to €160,170
- Staff costs +€35,517
up €35,517 (+104.5%), from €33,990 to €69,508
- Taxes +€23,081
new in 2025: €23,081
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 | €423,274 | €597,828 | +€174,555 | +41.2% |
| Fixed assets | 21/28 | €17,827 | €17,110 | -€717 | -4.0% |
| Tangible fixed assets | 22/27 | €17,827 | €13,210 | -€4,617 | -25.9% |
| Furniture and vehicles | 24 | €17,827 | €13,210 | -€4,617 | -25.9% |
| Financial fixed assets | 28 | - | €3,900 | +€3,900 | |
| Current assets | 29/58 | €405,447 | €580,718 | +€175,272 | +43.2% |
| Amounts receivable within one year | 40/41 | €236,751 | €431,526 | +€194,775 | +82.3% |
| Trade receivables | 40 | €236,751 | €431,526 | +€194,775 | +82.3% |
| Cash at bank and in hand | 54/58 | €168,696 | €149,192 | -€19,503 | -11.6% |
| Total equity and liabilities | 10/49 | €423,274 | €597,828 | +€174,555 | +41.2% |
| Equity | 10/15 | €111,627 | €153,693 | +€42,066 | +37.7% |
| Profit (loss) carried forward | 14 | €111,627 | €153,693 | +€42,066 | +37.7% |
| Amounts payable | 17/49 | €311,647 | €444,135 | +€132,488 | +42.5% |
| Amounts payable within one year | 42/48 | €311,647 | €444,135 | +€132,488 | +42.5% |
| Trade debts | 44 | €246,629 | €374,404 | +€127,775 | +51.8% |
| Suppliers | 440/4 | €246,629 | €374,404 | +€127,775 | +51.8% |
| Advances received on contracts in progress | 46 | €21,379 | €19,254 | -€2,125 | -9.9% |
| Taxes, remuneration and social security | 45 | €42,968 | €29,784 | -€13,184 | -30.7% |
| Taxes | 450/3 | €31,556 | €21,637 | -€9,919 | -31.4% |
| Remuneration and social security | 454/9 | €11,412 | €8,147 | -€3,265 | -28.6% |
| Other amounts payable | 47/48 | €671 | €20,693 | +€20,022 | +2985.8% |
| Remuneration, social security and pensions | 62 | €33,990 | €69,508 | +€35,517 | +104.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,617 | €4,617 | = | 0.0% |
| Other operating charges | 640/8 | €861 | €857 | -€4 | -0.4% |
| Gross operating margin | 9900 | €100,635 | €160,170 | +€59,535 | +59.2% |
| Operating profit (loss) | 9901 | €61,167 | €85,189 | +€24,022 | +39.3% |
| Financial charges | 65/66B | €42 | €42 | = | 0.0% |
| Recurring financial charges | 65 | €42 | €42 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €61,125 | €85,147 | +€24,022 | +39.3% |
| Income taxes | 67/77 | - | €23,081 | +€23,081 | |
| Profit (loss) for the period | 9904 | €61,125 | €62,066 | +€941 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,125 | €62,066 | +€941 | +1.5% |
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 12 October 2026 via checked.be.