KIRS: what changed
KIRS
Largest movements
- Receivables within one year +€33,131
up €33,131 (+273%), from €12,122 to €45,253
of which Trade receivables: +€34,241
- Cash +€32,816
up €32,816 (+252%), from €13,029 to €45,845
mainly Other debts (+€63,146) and Net result for the year (+€60,374)
- Tangible fixed assets -€18,248
down €18,248 (-5.5%), from €329,518 to €311,270
- Other debts +€63,146
up €63,146 (+668%), from €9,454 to €72,600
- Debts after one year -€24,450
down €24,450 (-7.4%), from €328,945 to €304,494
of which Financial debts: -€24,450
- Tax, wage and social debts +€13,741
up €13,741 (+449%), from €3,061 to €16,802
- Reserves -€5,700
no longer reported in 2025 (was €5,700)
- Gross operating margin +€47,870
up €47,870 (+72.9%), from €65,702 to €113,573
- Taxes +€13,058
up €13,058 (+131%), from €9,990 to €23,048
- Depreciation +€4,478
up €4,478 (+26.7%), from €16,764 to €21,242
- Other operating charges -€2,005
down €2,005 (-29.0%), from €6,914 to €4,909
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 | €392,702 | €439,968 | +€47,266 | +12.0% |
| Fixed assets | 21/28 | €366,237 | €347,989 | -€18,248 | -5.0% |
| Tangible fixed assets | 22/27 | €329,518 | €311,270 | -€18,248 | -5.5% |
| Land and buildings | 22 | €279,692 | €272,725 | -€6,967 | -2.5% |
| Furniture and vehicles | 24 | €37,676 | €30,819 | -€6,857 | -18.2% |
| Other tangible fixed assets | 26 | €12,150 | €7,727 | -€4,423 | -36.4% |
| Financial fixed assets | 28 | €36,719 | €36,719 | = | 0.0% |
| Current assets | 29/58 | €26,465 | €91,979 | +€65,514 | +248% |
| Amounts receivable within one year | 40/41 | €12,122 | €45,253 | +€33,131 | +273% |
| Trade receivables | 40 | €9,812 | €44,053 | +€34,241 | +349% |
| Other amounts receivable | 41 | €2,310 | €1,199 | -€1,110 | -48.1% |
| Cash at bank and in hand | 54/58 | €13,029 | €45,845 | +€32,816 | +252% |
| Deferred charges and accrued income | 490/1 | €1,314 | €881 | -€433 | -32.9% |
| Total equity and liabilities | 10/49 | €392,702 | €439,968 | +€47,266 | +12.0% |
| Equity | 10/15 | €24,332 | €18,606 | -€5,726 | -23.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,700 | - | -€5,700 | |
| Distributable reserves | 133 | €5,700 | - | -€5,700 | |
| Profit (loss) carried forward | 14 | €32 | €6 | -€26 | -82.6% |
| Amounts payable | 17/49 | €368,370 | €421,363 | +€52,993 | +14.4% |
| Amounts payable after more than one year | 17 | €328,945 | €304,494 | -€24,450 | -7.4% |
| Financial debts | 170/4 | €237,945 | €213,494 | -€24,450 | -10.3% |
| Other amounts payable | 178/9 | €91,000 | €91,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €39,425 | €115,984 | +€76,559 | +194% |
| Current portion of amounts payable after more than one year | 42 | €24,097 | €24,450 | +€353 | +1.5% |
| Trade debts | 44 | €2,813 | €2,132 | -€681 | -24.2% |
| Suppliers | 440/4 | €2,813 | €2,132 | -€681 | -24.2% |
| Taxes, remuneration and social security | 45 | €3,061 | €16,802 | +€13,741 | +449% |
| Taxes | 450/3 | €3,061 | €16,802 | +€13,741 | +449% |
| Other amounts payable | 47/48 | €9,454 | €72,600 | +€63,146 | +668% |
| Accrued charges and deferred income | 492/3 | - | €884 | +€884 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,764 | €21,242 | +€4,478 | +26.7% |
| Other operating charges | 640/8 | €6,914 | €4,909 | -€2,005 | -29.0% |
| Gross operating margin | 9900 | €65,702 | €113,573 | +€47,870 | +72.9% |
| Operating profit (loss) | 9901 | €42,025 | €87,423 | +€45,397 | +108% |
| Financial income | 75/76B | €21 | - | -€21 | |
| Recurring financial income | 75 | €21 | - | -€21 | |
| Financial charges | 65/66B | €4,348 | €4,001 | -€347 | -8.0% |
| Recurring financial charges | 65 | €4,348 | €4,001 | -€347 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €37,697 | €83,422 | +€45,724 | +121% |
| Income taxes | 67/77 | €9,990 | €23,048 | +€13,058 | +131% |
| Profit (loss) for the period | 9904 | €27,707 | €60,374 | +€32,666 | +118% |
| Profit (loss) for the period to be appropriated | 9905 | €27,707 | €60,374 | +€32,666 | +118% |
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 8 November 2026 via checked.be.