KIPUINA: 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.
KIPUINA
Largest movements
- Tangible fixed assets +€34,909
up €34,909 (+348%), from €10,039 to €44,949
of which Furniture and vehicles: +€30,118
- Deferred charges and accrued income +€5,156
up €5,156 (+43.1%), from €11,972 to €17,127
- Receivables within one year -€3,999
down €3,999 (-22.5%), from €17,750 to €13,752
of which Trade receivables: -€6,203
- Cash -€1,819
down €1,819 (-1.8%), from €100,782 to €98,963
mainly Investment in fixed assets (net) (-€39,738) and Other debts (-€9,383)
- Reserves +€36,519
up €36,519 (+60.2%), from €60,646 to €97,165
of which Distributable reserves: +€36,519
- Other debts -€9,383
down €9,383 (-37.0%), from €25,350 to €15,967
- Tax, wage and social debts +€8,664
up €8,664 (+25.3%), from €34,237 to €42,901
of which Taxes: +€9,313
- Trade debts -€1,921
down €1,921 (-29.6%), from €6,479 to €4,558
- Staff costs -€6,106
down €6,106 (-4.3%), from €140,683 to €134,577
- Gross operating margin +€5,343
up €5,343 (+2.7%), from €194,332 to €199,675
- Taxes +€4,886
up €4,886 (+35.2%), from €13,881 to €18,766
- Depreciation +€2,674
up €2,674 (+124%), from €2,155 to €4,829
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 | €144,456 | €178,334 | +€33,878 | +23.5% |
| Fixed assets | 21/28 | €10,039 | €44,949 | +€34,909 | +348% |
| Tangible fixed assets | 22/27 | €10,039 | €44,949 | +€34,909 | +348% |
| Plant, machinery and equipment | 23 | €6,131 | €10,922 | +€4,791 | +78.2% |
| Furniture and vehicles | 24 | €3,909 | €34,027 | +€30,118 | +771% |
| Current assets | 29/58 | €134,416 | €133,385 | -€1,031 | -0.8% |
| Stocks and contracts in progress | 3 | €3,912 | €3,543 | -€369 | -9.4% |
| Stocks | 30/36 | €3,912 | €3,543 | -€369 | -9.4% |
| Amounts receivable within one year | 40/41 | €17,750 | €13,752 | -€3,999 | -22.5% |
| Trade receivables | 40 | €16,672 | €10,470 | -€6,203 | -37.2% |
| Other amounts receivable | 41 | €1,078 | €3,282 | +€2,204 | +204% |
| Cash at bank and in hand | 54/58 | €100,782 | €98,963 | -€1,819 | -1.8% |
| Deferred charges and accrued income | 490/1 | €11,972 | €17,127 | +€5,156 | +43.1% |
| Total equity and liabilities | 10/49 | €144,456 | €178,334 | +€33,878 | +23.5% |
| Equity | 10/15 | €78,389 | €114,908 | +€36,519 | +46.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €60,646 | €97,165 | +€36,519 | +60.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €58,787 | €95,306 | +€36,519 | +62.1% |
| Profit (loss) carried forward | 14 | -€849 | -€849 | = | 0.0% |
| Amounts payable | 17/49 | €66,067 | €63,426 | -€2,640 | -4.0% |
| Amounts payable within one year | 42/48 | €66,067 | €63,426 | -€2,640 | -4.0% |
| Trade debts | 44 | €6,479 | €4,558 | -€1,921 | -29.6% |
| Suppliers | 440/4 | €6,479 | €4,558 | -€1,921 | -29.6% |
| Taxes, remuneration and social security | 45 | €34,237 | €42,901 | +€8,664 | +25.3% |
| Taxes | 450/3 | €19,285 | €28,598 | +€9,313 | +48.3% |
| Remuneration and social security | 454/9 | €14,953 | €14,303 | -€650 | -4.3% |
| Other amounts payable | 47/48 | €25,350 | €15,967 | -€9,383 | -37.0% |
| Remuneration, social security and pensions | 62 | €140,683 | €134,577 | -€6,106 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,155 | €4,829 | +€2,674 | +124% |
| Other operating charges | 640/8 | €2,773 | €3,060 | +€287 | +10.3% |
| Gross operating margin | 9900 | €194,332 | €199,675 | +€5,343 | +2.7% |
| Operating profit (loss) | 9901 | €48,721 | €57,209 | +€8,488 | +17.4% |
| Financial income | 75/76B | €9 | €183 | +€175 | +2,039% |
| Recurring financial income | 75 | €9 | €183 | +€175 | +2,039% |
| Financial charges | 65/66B | €1,062 | €2,107 | +€1,045 | +98.4% |
| Recurring financial charges | 65 | €1,062 | €2,107 | +€1,045 | +98.4% |
| Profit (loss) for the period before taxes | 9903 | €47,668 | €55,285 | +€7,618 | +16.0% |
| Income taxes | 67/77 | €13,881 | €18,766 | +€4,886 | +35.2% |
| Profit (loss) for the period | 9904 | €33,787 | €36,519 | +€2,732 | +8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,787 | €36,519 | +€2,732 | +8.1% |
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 23 October 2026 via checked.be.