KIWAÏ: 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.
KIWAÏ
Largest movements
- Tangible fixed assets -€35,347
down €35,347 (-32.1%), from €109,970 to €74,623
- Cash +€33,366
up €33,366 (+30.2%), from €110,304 to €143,670
mainly Depreciation (+€35,347) and Net result for the year (+€32,552)
- Current investments -€30,000
down €30,000 (-36.1%), from €83,000 to €53,000
- Receivables within one year +€4,571
up €4,571 (+24.2%), from €18,888 to €23,459
- Other debts -€19,310
down €19,310 (-43.4%), from €44,498 to €25,188
- Tax, wage and social debts -€6,741
down €6,741 (-35.9%), from €18,780 to €12,038
- Reserves -€4,500
down €4,500 (-2.6%), from €172,200 to €167,700
- Other operating charges -€5,134
down €5,134 (-67.0%), from €7,663 to €2,529
- Gross operating margin -€4,503
down €4,503 (-4.9%), from €91,112 to €86,609
- Depreciation +€4,482
up €4,482 (+14.5%), from €30,865 to €35,347
- Financial income +€2,300
new in 2025: €2,300
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 | €324,109 | €294,950 | -€29,159 | -9.0% |
| Fixed assets | 21/28 | €109,970 | €74,623 | -€35,347 | -32.1% |
| Tangible fixed assets | 22/27 | €109,970 | €74,623 | -€35,347 | -32.1% |
| Furniture and vehicles | 24 | €109,970 | €74,623 | -€35,347 | -32.1% |
| Current assets | 29/58 | €214,139 | €220,327 | +€6,188 | +2.9% |
| Amounts receivable within one year | 40/41 | €18,888 | €23,459 | +€4,571 | +24.2% |
| Trade receivables | 40 | €18,888 | €23,459 | +€4,571 | +24.2% |
| Current investments | 50/53 | €83,000 | €53,000 | -€30,000 | -36.1% |
| Cash at bank and in hand | 54/58 | €110,304 | €143,670 | +€33,366 | +30.2% |
| Deferred charges and accrued income | 490/1 | €1,947 | €198 | -€1,749 | -89.8% |
| Total equity and liabilities | 10/49 | €324,109 | €294,950 | -€29,159 | -9.0% |
| Equity | 10/15 | €258,730 | €254,782 | -€3,948 | -1.5% |
| Contributions | 10/11 | €33,000 | €33,000 | = | 0.0% |
| Reserves | 13 | €172,200 | €167,700 | -€4,500 | -2.6% |
| Distributable reserves | 133 | €172,200 | €167,700 | -€4,500 | -2.6% |
| Profit (loss) carried forward | 14 | €53,530 | €54,082 | +€552 | +1.0% |
| Amounts payable | 17/49 | €65,379 | €40,168 | -€25,211 | -38.6% |
| Amounts payable within one year | 42/48 | €63,822 | €37,438 | -€26,384 | -41.3% |
| Trade debts | 44 | €544 | €212 | -€332 | -61.0% |
| Suppliers | 440/4 | €544 | €212 | -€332 | -61.0% |
| Taxes, remuneration and social security | 45 | €18,780 | €12,038 | -€6,741 | -35.9% |
| Taxes | 450/3 | €18,780 | €12,038 | -€6,741 | -35.9% |
| Other amounts payable | 47/48 | €44,498 | €25,188 | -€19,310 | -43.4% |
| Accrued charges and deferred income | 492/3 | €1,557 | €2,730 | +€1,173 | +75.3% |
| Non-recurring operating income | 76A | €18,245 | - | -€18,245 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,865 | €35,347 | +€4,482 | +14.5% |
| Other operating charges | 640/8 | €7,663 | €2,529 | -€5,134 | -67.0% |
| Gross operating margin | 9900 | €91,112 | €86,609 | -€4,503 | -4.9% |
| Operating profit (loss) | 9901 | €52,584 | €48,733 | -€3,851 | -7.3% |
| Financial income | 75/76B | - | €2,300 | +€2,300 | |
| Recurring financial income | 75 | - | €2,300 | +€2,300 | |
| Financial charges | 65/66B | €1,730 | €1,443 | -€287 | -16.6% |
| Recurring financial charges | 65 | €1,730 | €1,443 | -€287 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €50,855 | €49,591 | -€1,264 | -2.5% |
| Income taxes | 67/77 | €17,867 | €17,039 | -€828 | -4.6% |
| Profit (loss) for the period | 9904 | €32,987 | €32,552 | -€436 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €32,987 | €32,552 | -€436 | -1.3% |
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 21 October 2026 via checked.be.