MS Kiné: 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 Kiné
Largest movements
- Cash +€126,316
up €126,316 (+206%), from €61,171 to €187,487
mainly Net result for the year (+€88,648) and Tax, wage and social debts (+€16,603)
- Receivables within one year -€7,443
down €7,443 (-11.9%), from €62,542 to €55,099
- Intangible fixed assets -€7,000
down €7,000 (-15.2%), from €46,083 to €39,083
- Reserves +€88,000
up €88,000 (+53.3%), from €165,000 to €253,000
- Tax, wage and social debts +€16,603
up €16,603 (+203%), from €8,174 to €24,777
of which Taxes: +€11,688
- Trade debts +€4,860
up €4,860 (+7.1%), from €68,783 to €73,643
- Gross operating margin +€70,468
up €70,468 (+105%), from €67,253 to €137,721
- Taxes +€25,788
up €25,788 (+193%), from €13,362 to €39,150
- Depreciation -€3,640
down €3,640 (-26.7%), from €13,633 to €9,993
- Other operating charges -€2,870
down €2,870 (-71.1%), from €4,037 to €1,167
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 | €281,141 | €391,252 | +€110,111 | +39.2% |
| Fixed assets | 21/28 | €57,356 | €47,363 | -€9,993 | -17.4% |
| Intangible fixed assets | 21 | €46,083 | €39,083 | -€7,000 | -15.2% |
| Tangible fixed assets | 22/27 | €11,273 | €8,280 | -€2,993 | -26.6% |
| Plant, machinery and equipment | 23 | €10,780 | €8,279 | -€2,501 | -23.2% |
| Furniture and vehicles | 24 | €493 | €1 | -€492 | -99.8% |
| Current assets | 29/58 | €223,785 | €343,889 | +€120,104 | +53.7% |
| Amounts receivable within one year | 40/41 | €62,542 | €55,099 | -€7,443 | -11.9% |
| Trade receivables | 40 | €62,542 | €55,099 | -€7,443 | -11.9% |
| Current investments | 50/53 | €100,072 | €101,060 | +€988 | +1.0% |
| Cash at bank and in hand | 54/58 | €61,171 | €187,487 | +€126,316 | +206% |
| Deferred charges and accrued income | 490/1 | - | €243 | +€243 | |
| Total equity and liabilities | 10/49 | €281,141 | €391,252 | +€110,111 | +39.2% |
| Equity | 10/15 | €204,184 | €292,832 | +€88,648 | +43.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €165,000 | €253,000 | +€88,000 | +53.3% |
| Distributable reserves | 133 | €165,000 | €253,000 | +€88,000 | +53.3% |
| Profit (loss) carried forward | 14 | €29,184 | €29,832 | +€648 | +2.2% |
| Amounts payable | 17/49 | €76,957 | €98,420 | +€21,463 | +27.9% |
| Amounts payable within one year | 42/48 | €76,957 | €98,420 | +€21,463 | +27.9% |
| Trade debts | 44 | €68,783 | €73,643 | +€4,860 | +7.1% |
| Suppliers | 440/4 | €68,783 | €73,643 | +€4,860 | +7.1% |
| Taxes, remuneration and social security | 45 | €8,174 | €24,777 | +€16,603 | +203% |
| Taxes | 450/3 | €6,166 | €17,854 | +€11,688 | +190% |
| Remuneration and social security | 454/9 | €2,008 | €6,923 | +€4,915 | +245% |
| Non-recurring operating income | 76A | €15,622 | - | -€15,622 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,633 | €9,993 | -€3,640 | -26.7% |
| Other operating charges | 640/8 | €4,037 | €1,167 | -€2,870 | -71.1% |
| Gross operating margin | 9900 | €67,253 | €137,721 | +€70,468 | +105% |
| Operating profit (loss) | 9901 | €49,583 | €126,561 | +€76,978 | +155% |
| Financial income | 75/76B | €62 | €1,376 | +€1,314 | +2,119% |
| Recurring financial income | 75 | €62 | €1,376 | +€1,314 | +2,119% |
| Financial charges | 65/66B | €102 | €139 | +€37 | +36.3% |
| Recurring financial charges | 65 | €102 | €139 | +€37 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €49,543 | €127,798 | +€78,255 | +158% |
| Income taxes | 67/77 | €13,362 | €39,150 | +€25,788 | +193% |
| Profit (loss) for the period | 9904 | €36,181 | €88,648 | +€52,467 | +145% |
| Profit (loss) for the period to be appropriated | 9905 | €36,181 | €88,648 | +€52,467 | +145% |
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 20 October 2026 via checked.be.