MS KINE: 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.
MS KINE
Largest movements
- Tangible fixed assets -€12,023
down €12,023 (-24.9%), from €48,216 to €36,193
of which Furniture and vehicles: -€8,739
- Cash +€5,455
up €5,455 (+27.0%), from €20,234 to €25,689
mainly Depreciation (+€14,587) and Net result for the year (+€5,844)
- Deferred charges and accrued income +€4,854
up €4,854 (+118%), from €4,118 to €8,972
- Debts after one year -€6,117
no longer reported in 2025 (was €6,117)
- Profit (loss) carried forward +€5,844
up €5,844 (+35.0%), from -€16,698 to -€10,854
- Current portion of long-term debt -€2,841
down €2,841 (-31.7%), from €8,958 to €6,117
- Other debts +€1,564
up €1,564 (+3.1%), from €50,245 to €51,810
- Gross operating margin +€10,324
up €10,324 (+84.9%), from €12,154 to €22,478
- Depreciation -€4,288
down €4,288 (-22.7%), from €18,874 to €14,587
- Other operating charges +€496
up €496 (+67.1%), from €740 to €1,236
- Financial charges -€273
down €273 (-35.8%), from €763 to €490
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 | €72,764 | €71,229 | -€1,536 | -2.1% |
| Fixed assets | 21/28 | €48,216 | €36,193 | -€12,023 | -24.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €48,216 | €36,193 | -€12,023 | -24.9% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €28,570 | €19,831 | -€8,739 | -30.6% |
| Other tangible fixed assets | 26 | €19,646 | €16,362 | -€3,284 | -16.7% |
| Current assets | 29/58 | €24,548 | €35,035 | +€10,487 | +42.7% |
| Amounts receivable within one year | 40/41 | €196 | €374 | +€178 | +90.6% |
| Other amounts receivable | 41 | €196 | €374 | +€178 | +90.6% |
| Cash at bank and in hand | 54/58 | €20,234 | €25,689 | +€5,455 | +27.0% |
| Deferred charges and accrued income | 490/1 | €4,118 | €8,972 | +€4,854 | +118% |
| Total equity and liabilities | 10/49 | €72,764 | €71,229 | -€1,536 | -2.1% |
| Equity | 10/15 | €7,302 | €13,146 | +€5,844 | +80.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €19,000 | €19,000 | = | 0.0% |
| Distributable reserves | 133 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,698 | -€10,854 | +€5,844 | +35.0% |
| Amounts payable | 17/49 | €65,462 | €58,082 | -€7,380 | -11.3% |
| Amounts payable after more than one year | 17 | €6,117 | - | -€6,117 | |
| Financial debts | 170/4 | €6,117 | - | -€6,117 | |
| Amounts payable within one year | 42/48 | €59,279 | €58,015 | -€1,264 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €8,958 | €6,117 | -€2,841 | -31.7% |
| Trade debts | 44 | €76 | €89 | +€13 | +17.6% |
| Suppliers | 440/4 | €76 | €89 | +€13 | +17.6% |
| Other amounts payable | 47/48 | €50,245 | €51,810 | +€1,564 | +3.1% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,874 | €14,587 | -€4,288 | -22.7% |
| Other operating charges | 640/8 | €740 | €1,236 | +€496 | +67.1% |
| Gross operating margin | 9900 | €12,154 | €22,478 | +€10,324 | +84.9% |
| Operating profit (loss) | 9901 | -€7,460 | €6,655 | +€14,115 | |
| Financial charges | 65/66B | €763 | €490 | -€273 | -35.8% |
| Recurring financial charges | 65 | €763 | €490 | -€273 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | -€8,223 | €6,166 | +€14,388 | |
| Income taxes | 67/77 | €304 | €322 | +€18 | +6.1% |
| Profit (loss) for the period | 9904 | -€8,526 | €5,844 | +€14,370 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,526 | €5,844 | +€14,370 |
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 24 October 2026 via checked.be.