KIU: what changed
Two fiscal 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.
KIU
Largest movements
- Cash -€69,742
down €69,742 (-72.4%), from €96,302 to €26,560
mainly Contributions, distributions and other (-€214,809) and Debts after one year (-€127,903)
- Tangible fixed assets -€58,796
down €58,796 (-26.2%), from €224,330 to €165,534
- Financial fixed assets -€50,000
down €50,000 (-7.4%), from €677,801 to €627,801
- Receivables within one year +€18,403
up €18,403 (+3.4%), from €535,775 to €554,178
of which Trade receivables: +€39,128
- Reserves -€198,359
down €198,359 (-76.3%), from €259,858 to €61,499
of which Distributable reserves: -€198,359
- Other debts +€146,872
up €146,872 (+101.9%), from €144,088 to €290,960
- Debts after one year -€127,903
down €127,903 (-43.2%), from €296,131 to €168,228
- Tax, wage and social debts +€48,471
up €48,471 (+152.1%), from €31,878 to €80,349
of which Taxes: +€27,823
- Short-term financial debts -€23,967
down €23,967 (-11.8%), from €202,644 to €178,677
- Gross operating margin +€153,286
up €153,286 (+37.1%), from €412,966 to €566,252
- Financial charges +€64,457
up €64,457 (+181.5%), from €35,517 to €99,973
of which Non-recurring financial charges: +€50,000
- Staff costs +€27,872
up €27,872 (+10.4%), from €266,900 to €294,773
- Taxes +€11,998
up €11,998 (+73.5%), from €16,317 to €28,314
- Depreciation +€10,516
up €10,516 (+20.1%), from €52,446 to €62,962
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 | €1,629,293 | €1,471,119 | -€158,173 | -9.7% |
| Fixed assets | 21/28 | €906,259 | €795,547 | -€110,712 | -12.2% |
| Intangible fixed assets | 21 | €4,128 | €2,212 | -€1,916 | -46.4% |
| Tangible fixed assets | 22/27 | €224,330 | €165,534 | -€58,796 | -26.2% |
| Plant, machinery and equipment | 23 | €101,638 | €77,972 | -€23,666 | -23.3% |
| Furniture and vehicles | 24 | €50,039 | €32,143 | -€17,897 | -35.8% |
| Other tangible fixed assets | 26 | €72,652 | €55,419 | -€17,233 | -23.7% |
| Financial fixed assets | 28 | €677,801 | €627,801 | -€50,000 | -7.4% |
| Current assets | 29/58 | €723,034 | €675,572 | -€47,461 | -6.6% |
| Stocks and contracts in progress | 3 | €79,340 | €78,433 | -€907 | -1.1% |
| Stocks | 30/36 | €79,340 | €78,433 | -€907 | -1.1% |
| Amounts receivable within one year | 40/41 | €535,775 | €554,178 | +€18,403 | +3.4% |
| Trade receivables | 40 | €115,750 | €154,878 | +€39,128 | +33.8% |
| Other amounts receivable | 41 | €420,025 | €399,300 | -€20,725 | -4.9% |
| Current investments | 50/53 | €8,286 | €8,286 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €96,302 | €26,560 | -€69,742 | -72.4% |
| Deferred charges and accrued income | 490/1 | €3,330 | €8,116 | +€4,785 | +143.7% |
| Total equity and liabilities | 10/49 | €1,629,293 | €1,471,119 | -€158,173 | -9.7% |
| Equity | 10/15 | €420,027 | €226,985 | -€193,042 | -46.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €259,858 | €61,499 | -€198,359 | -76.3% |
| Non-distributable reserves | 130/1 | €4,500 | €4,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,500 | €4,500 | = | 0.0% |
| Distributable reserves | 133 | €255,358 | €56,999 | -€198,359 | -77.7% |
| Profit (loss) carried forward | 14 | €61,428 | €83,195 | +€21,767 | +35.4% |
| Investment grants | 15 | €80,141 | €63,690 | -€16,450 | -20.5% |
| Amounts payable | 17/49 | €1,209,265 | €1,244,134 | +€34,869 | +2.9% |
| Amounts payable after more than one year | 17 | €296,131 | €168,228 | -€127,903 | -43.2% |
| Financial debts | 170/4 | €296,131 | €168,228 | -€127,903 | -43.2% |
| Amounts payable within one year | 42/48 | €907,538 | €1,071,234 | +€163,697 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €133,265 | €138,249 | +€4,984 | +3.7% |
| Financial debts | 43 | €202,644 | €178,677 | -€23,967 | -11.8% |
| Credit institutions | 430/8 | €202,644 | €178,677 | -€23,967 | -11.8% |
| Trade debts | 44 | €395,663 | €382,998 | -€12,664 | -3.2% |
| Suppliers | 440/4 | €395,663 | €382,998 | -€12,664 | -3.2% |
| Taxes, remuneration and social security | 45 | €31,878 | €80,349 | +€48,471 | +152.1% |
| Taxes | 450/3 | €5,891 | €33,713 | +€27,823 | +472.3% |
| Remuneration and social security | 454/9 | €25,987 | €46,636 | +€20,648 | +79.5% |
| Other amounts payable | 47/48 | €144,088 | €290,960 | +€146,872 | +101.9% |
| Accrued charges and deferred income | 492/3 | €5,596 | €4,672 | -€925 | -16.5% |
| Non-recurring operating income | 76A | - | €3,074 | +€3,074 | |
| Remuneration, social security and pensions | 62 | €266,900 | €294,773 | +€27,872 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,446 | €62,962 | +€10,516 | +20.1% |
| Other operating charges | 640/8 | €2,498 | €1,741 | -€758 | -30.3% |
| Non-recurring operating charges | 66A | - | €74,010 | +€74,010 | |
| Gross operating margin | 9900 | €412,966 | €566,252 | +€153,286 | +37.1% |
| Operating profit (loss) | 9901 | €91,122 | €132,767 | +€41,645 | +45.7% |
| Financial income | 75/76B | €22,140 | €17,288 | -€4,852 | -21.9% |
| Recurring financial income | 75 | €22,140 | €17,288 | -€4,852 | -21.9% |
| Financial charges | 65/66B | €35,517 | €99,973 | +€64,457 | +181.5% |
| Recurring financial charges | 65 | €35,517 | €49,973 | +€14,457 | +40.7% |
| Non-recurring financial charges | 66B | - | €50,000 | +€50,000 | |
| Profit (loss) for the period before taxes | 9903 | €77,745 | €50,081 | -€27,664 | -35.6% |
| Income taxes | 67/77 | €16,317 | €28,314 | +€11,998 | +73.5% |
| Profit (loss) for the period | 9904 | €61,428 | €21,767 | -€39,661 | -64.6% |
| Profit (loss) for the period to be appropriated | 9905 | €61,428 | €21,767 | -€39,661 | -64.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.