KIZILCA: 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.
KIZILCA
Largest movements
- Cash -€73,909
down €73,909 (-54.2%), from €136,396 to €62,487
mainly Net result for the year (-€55,496) and Investment in fixed assets (net) (-€34,761)
- Tangible fixed assets +€26,517
up €26,517 (+108%), from €24,550 to €51,067
of which Plant, machinery and equipment: +€26,762
- Stocks and contracts +€15,663
up €15,663 (+789%), from €1,985 to €17,648
- Receivables within one year -€8,180
down €8,180 (-10.2%), from €80,533 to €72,352
of which Trade receivables: -€22,585
- Profit (loss) carried forward -€55,496
down €55,496 (-37.2%), from €149,261 to €93,764
- Trade debts +€28,355
up €28,355 (+279%), from €10,163 to €38,518
- Debts after one year -€12,998
down €12,998 (-65.0%), from €20,000 to €7,002
- Tax, wage and social debts -€7,625
down €7,625 (-14.4%), from €52,793 to €45,168
of which Taxes: -€25,424
- Current portion of long-term debt +€6,661
new in 2025: €6,661
- Staff costs +€69,310
up €69,310 (+56.1%), from €123,513 to €192,823
- Gross operating margin -€69,259
down €69,259 (-29.3%), from €236,536 to €167,277
- Taxes -€23,974
down €23,974 (-97.7%), from €24,533 to €560
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 | €250,899 | €209,796 | -€41,103 | -16.4% |
| Fixed assets | 21/28 | €30,377 | €55,854 | +€25,477 | +83.9% |
| Intangible fixed assets | 21 | €5,827 | €4,327 | -€1,500 | -25.7% |
| Tangible fixed assets | 22/27 | €24,550 | €51,067 | +€26,517 | +108% |
| Plant, machinery and equipment | 23 | €23,601 | €50,363 | +€26,762 | +113% |
| Furniture and vehicles | 24 | €948 | €704 | -€244 | -25.8% |
| Financial fixed assets | 28 | - | €460 | +€460 | |
| Current assets | 29/58 | €220,522 | €153,942 | -€66,580 | -30.2% |
| Stocks and contracts in progress | 3 | €1,985 | €17,648 | +€15,663 | +789% |
| Stocks | 30/36 | €1,985 | €17,648 | +€15,663 | +789% |
| Amounts receivable within one year | 40/41 | €80,533 | €72,352 | -€8,180 | -10.2% |
| Trade receivables | 40 | €56,899 | €34,314 | -€22,585 | -39.7% |
| Other amounts receivable | 41 | €23,633 | €38,038 | +€14,405 | +61.0% |
| Cash at bank and in hand | 54/58 | €136,396 | €62,487 | -€73,909 | -54.2% |
| Deferred charges and accrued income | 490/1 | €1,608 | €1,455 | -€154 | -9.6% |
| Total equity and liabilities | 10/49 | €250,899 | €209,796 | -€41,103 | -16.4% |
| Equity | 10/15 | €167,942 | €112,446 | -€55,496 | -33.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €82 | €82 | = | 0.0% |
| Non-distributable reserves | 130/1 | €82 | €82 | = | 0.0% |
| Reserves not available under the articles | 1311 | €82 | €82 | = | 0.0% |
| Profit (loss) carried forward | 14 | €149,261 | €93,764 | -€55,496 | -37.2% |
| Amounts payable | 17/49 | €82,956 | €97,350 | +€14,393 | +17.4% |
| Amounts payable after more than one year | 17 | €20,000 | €7,002 | -€12,998 | -65.0% |
| Financial debts | 170/4 | €20,000 | €7,002 | -€12,998 | -65.0% |
| Amounts payable within one year | 42/48 | €62,956 | €90,348 | +€27,391 | +43.5% |
| Current portion of amounts payable after more than one year | 42 | - | €6,661 | +€6,661 | |
| Trade debts | 44 | €10,163 | €38,518 | +€28,355 | +279% |
| Suppliers | 440/4 | €10,163 | €38,518 | +€28,355 | +279% |
| Taxes, remuneration and social security | 45 | €52,793 | €45,168 | -€7,625 | -14.4% |
| Taxes | 450/3 | €32,258 | €6,833 | -€25,424 | -78.8% |
| Remuneration and social security | 454/9 | €20,536 | €38,335 | +€17,799 | +86.7% |
| Non-recurring operating income | 76A | - | €7,772 | +€7,772 | |
| Remuneration, social security and pensions | 62 | €123,513 | €192,823 | +€69,310 | +56.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,551 | €9,284 | +€733 | +8.6% |
| Other operating charges | 640/8 | €1,125 | €2,363 | +€1,239 | +110% |
| Non-recurring operating charges | 66A | - | €16,671 | +€16,671 | |
| Gross operating margin | 9900 | €236,536 | €167,277 | -€69,259 | -29.3% |
| Operating profit (loss) | 9901 | €103,348 | -€53,864 | -€157,212 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -92.7% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -92.7% |
| Financial charges | 65/66B | €622 | €1,072 | +€450 | +72.4% |
| Recurring financial charges | 65 | €622 | €1,072 | +€450 | +72.4% |
| Profit (loss) for the period before taxes | 9903 | €102,729 | -€54,937 | -€157,665 | |
| Income taxes | 67/77 | €24,533 | €560 | -€23,974 | -97.7% |
| Profit (loss) for the period | 9904 | €78,195 | -€55,496 | -€133,692 | |
| Profit (loss) for the period to be appropriated | 9905 | €78,195 | -€55,496 | -€133,692 |
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 17 October 2026 via checked.be.