KIPPENHANDEL MARTH: what changed
KIPPENHANDEL MARTH
Largest movements
- Current investments +€80,000
new in 2025: €80,000
- Intangible fixed assets -€17,500
down €17,500 (-20.0%), from €87,452 to €69,952
- Tangible fixed assets -€10,678
down €10,678 (-10.4%), from €102,410 to €91,732
of which Furniture and vehicles: -€18,768
- Receivables within one year +€7,672
up €7,672 (+331%), from €2,321 to €9,993
of which Other amounts receivable: +€6,820
- Cash -€4,581
down €4,581 (-3.7%), from €125,068 to €120,487
mainly Current investments (-€80,000) and Debts after one year (-€34,344)
- Reserves +€92,000
up €92,000 (+60.9%), from €151,000 to €243,000
- Debts after one year -€34,344
down €34,344 (-63.0%), from €54,529 to €20,185
- Trade debts -€4,243
down €4,243 (-19.2%), from €22,148 to €17,905
- Gross operating margin +€71,758
up €71,758 (+31.3%), from €229,530 to €301,288
- Staff costs +€21,214
up €21,214 (+20.6%), from €102,781 to €123,995
- Taxes +€10,870
up €10,870 (+65.0%), from €16,719 to €27,589
- Depreciation +€8,262
up €8,262 (+22.7%), from €36,352 to €44,613
- Other operating charges -€4,174
down €4,174 (-27.2%), from €15,356 to €11,182
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €323,818 | €379,490 | +€55,671 | +17.2% |
| Fixed assets | 21/28 | €189,862 | €161,684 | -€28,178 | -14.8% |
| Intangible fixed assets | 21 | €87,452 | €69,952 | -€17,500 | -20.0% |
| Tangible fixed assets | 22/27 | €102,410 | €91,732 | -€10,678 | -10.4% |
| Plant, machinery and equipment | 23 | €9,399 | €12,794 | +€3,395 | +36.1% |
| Furniture and vehicles | 24 | €87,447 | €68,679 | -€18,768 | -21.5% |
| Other tangible fixed assets | 26 | €5,564 | €10,260 | +€4,696 | +84.4% |
| Current assets | 29/58 | €133,956 | €217,805 | +€83,849 | +62.6% |
| Amounts receivable within one year | 40/41 | €2,321 | €9,993 | +€7,672 | +331% |
| Trade receivables | 40 | €2,242 | €3,094 | +€852 | +38.0% |
| Other amounts receivable | 41 | €80 | €6,900 | +€6,820 | +8,550% |
| Current investments | 50/53 | - | €80,000 | +€80,000 | |
| Cash at bank and in hand | 54/58 | €125,068 | €120,487 | -€4,581 | -3.7% |
| Deferred charges and accrued income | 490/1 | €6,567 | €7,325 | +€758 | +11.5% |
| Total equity and liabilities | 10/49 | €323,818 | €379,490 | +€55,671 | +17.2% |
| Equity | 10/15 | €190,665 | €282,642 | +€91,976 | +48.2% |
| Contributions | 10/11 | €39,388 | €39,388 | = | 0.0% |
| Reserves | 13 | €151,000 | €243,000 | +€92,000 | +60.9% |
| Distributable reserves | 133 | €151,000 | €243,000 | +€92,000 | +60.9% |
| Profit (loss) carried forward | 14 | €277 | €254 | -€24 | -8.6% |
| Amounts payable | 17/49 | €133,153 | €96,848 | -€36,305 | -27.3% |
| Amounts payable after more than one year | 17 | €54,529 | €20,185 | -€34,344 | -63.0% |
| Financial debts | 170/4 | €54,529 | €20,185 | -€34,344 | -63.0% |
| Amounts payable within one year | 42/48 | €78,624 | €76,663 | -€1,961 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €34,020 | €34,344 | +€324 | +1.0% |
| Trade debts | 44 | €22,148 | €17,905 | -€4,243 | -19.2% |
| Suppliers | 440/4 | €22,148 | €17,905 | -€4,243 | -19.2% |
| Taxes, remuneration and social security | 45 | €19,644 | €22,749 | +€3,105 | +15.8% |
| Taxes | 450/3 | €11,499 | €10,604 | -€896 | -7.8% |
| Remuneration and social security | 454/9 | €8,145 | €12,145 | +€4,000 | +49.1% |
| Other amounts payable | 47/48 | €2,813 | €1,666 | -€1,147 | -40.8% |
| Remuneration, social security and pensions | 62 | €102,781 | €123,995 | +€21,214 | +20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,352 | €44,613 | +€8,262 | +22.7% |
| Other operating charges | 640/8 | €15,356 | €11,182 | -€4,174 | -27.2% |
| Gross operating margin | 9900 | €229,530 | €301,288 | +€71,758 | +31.3% |
| Operating profit (loss) | 9901 | €75,041 | €121,498 | +€46,458 | +61.9% |
| Financial income | 75/76B | €360 | €989 | +€629 | +174% |
| Recurring financial income | 75 | €360 | €989 | +€629 | +174% |
| Financial charges | 65/66B | €1,849 | €1,256 | -€593 | -32.1% |
| Recurring financial charges | 65 | €1,849 | €1,256 | -€593 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | €73,552 | €121,231 | +€47,679 | +64.8% |
| Income taxes | 67/77 | €16,719 | €27,589 | +€10,870 | +65.0% |
| Profit (loss) for the period | 9904 | €56,834 | €93,642 | +€36,808 | +64.8% |
| Profit (loss) for the period to be appropriated | 9905 | €56,834 | €93,642 | +€36,808 | +64.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.