Kippenbout: 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.
Kippenbout
Largest movements
- Receivables within one year -€509,378
down €509,378 (-43.6%), from €1.2m to €660,128
of which Other amounts receivable: -€342,406
- Cash +€363,583
up €363,583 (+312,625%), from €116 to €363,699
mainly Receivables within one year (+€509,378) and Net result for the year (+€353,713)
- Tangible fixed assets +€344,886
up €344,886 (+853%), from €40,430 to €385,316
of which Furniture and vehicles: +€274,233
- Other debts +€312,945
up €312,945 (+65.4%), from €478,848 to €791,793
- Reserves -€306,287
down €306,287 (-80.3%), from €381,415 to €75,128
- Debts after one year +€219,052
new in 2025: €219,052
- Tax, wage and social debts -€81,028
down €81,028 (-25.8%), from €314,559 to €233,531
- Current portion of long-term debt +€65,342
new in 2025: €65,342
- Gross operating margin -€74,488
down €74,488 (-11.9%), from €623,868 to €549,380
- Depreciation +€66,858
up €66,858 (+4,887%), from €1,368 to €68,226
- Taxes -€38,627
down €38,627 (-22.9%), from €168,469 to €129,841
- Financial income -€9,769
down €9,769 (-29.2%), from €33,432 to €23,663
- Financial charges +€7,089
up €7,089 (+65.8%), from €10,778 to €17,867
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 | €1,210,119 | €1,422,238 | +€212,120 | +17.5% |
| Fixed assets | 21/28 | €40,430 | €394,616 | +€354,186 | +876% |
| Tangible fixed assets | 22/27 | €40,430 | €385,316 | +€344,886 | +853% |
| Furniture and vehicles | 24 | €1,875 | €276,108 | +€274,233 | +14,627% |
| Other tangible fixed assets | 26 | €38,555 | €38,555 | = | 0.0% |
| Assets under construction and advance payments | 27 | - | €70,654 | +€70,654 | |
| Financial fixed assets | 28 | - | €9,300 | +€9,300 | |
| Current assets | 29/58 | €1,169,689 | €1,027,622 | -€142,067 | -12.1% |
| Amounts receivable within one year | 40/41 | €1,169,506 | €660,128 | -€509,378 | -43.6% |
| Trade receivables | 40 | €217,642 | €50,670 | -€166,972 | -76.7% |
| Other amounts receivable | 41 | €951,864 | €609,458 | -€342,406 | -36.0% |
| Cash at bank and in hand | 54/58 | €116 | €363,699 | +€363,583 | +312,625% |
| Deferred charges and accrued income | 490/1 | €67 | €3,795 | +€3,728 | +5,603% |
| Total equity and liabilities | 10/49 | €1,210,119 | €1,422,238 | +€212,120 | +17.5% |
| Equity | 10/15 | €391,415 | €85,128 | -€306,287 | -78.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €381,415 | €75,128 | -€306,287 | -80.3% |
| Distributable reserves | 133 | €381,415 | €75,128 | -€306,287 | -80.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €818,704 | €1,337,111 | +€518,407 | +63.3% |
| Amounts payable after more than one year | 17 | - | €219,052 | +€219,052 | |
| Financial debts | 170/4 | - | €219,052 | +€219,052 | |
| Amounts payable within one year | 42/48 | €818,704 | €1,117,334 | +€298,630 | +36.5% |
| Current portion of amounts payable after more than one year | 42 | - | €65,342 | +€65,342 | |
| Trade debts | 44 | €25,297 | €26,669 | +€1,372 | +5.4% |
| Suppliers | 440/4 | €25,297 | €26,669 | +€1,372 | +5.4% |
| Taxes, remuneration and social security | 45 | €314,559 | €233,531 | -€81,028 | -25.8% |
| Taxes | 450/3 | €314,559 | €233,531 | -€81,028 | -25.8% |
| Other amounts payable | 47/48 | €478,848 | €791,793 | +€312,945 | +65.4% |
| Accrued charges and deferred income | 492/3 | - | €724 | +€724 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,368 | €68,226 | +€66,858 | +4,887% |
| Other operating charges | 640/8 | €892 | €3,395 | +€2,503 | +281% |
| Gross operating margin | 9900 | €623,868 | €549,380 | -€74,488 | -11.9% |
| Operating profit (loss) | 9901 | €621,608 | €477,759 | -€143,850 | -23.1% |
| Financial income | 75/76B | €33,432 | €23,663 | -€9,769 | -29.2% |
| Recurring financial income | 75 | €33,432 | €23,663 | -€9,769 | -29.2% |
| Financial charges | 65/66B | €10,778 | €17,867 | +€7,089 | +65.8% |
| Recurring financial charges | 65 | €10,778 | €17,867 | +€7,089 | +65.8% |
| Profit (loss) for the period before taxes | 9903 | €644,262 | €483,554 | -€160,708 | -24.9% |
| Income taxes | 67/77 | €168,469 | €129,841 | -€38,627 | -22.9% |
| Profit (loss) for the period | 9904 | €475,794 | €353,713 | -€122,081 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €475,794 | €353,713 | -€122,081 | -25.7% |
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 15 October 2026 via checked.be.