RED KITE: 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.
RED KITE
Largest movements
- Receivables within one year -€333,698
down €333,698 (-68.0%), from €490,854 to €157,156
of which Trade receivables: -€472,792
- Tangible fixed assets -€115,789
down €115,789 (-92.0%), from €125,895 to €10,105
of which Leasing and similar rights: -€112,950
- Receivables after one year +€15,000
new in 2025: €15,000
- Profit (loss) carried forward -€319,246
down €319,246, from €310 to -€318,937
- Other debts -€133,375
down €133,375 (-46.3%), from €287,998 to €154,623
- Trade debts +€115,370
up €115,370 (+52856.6%), from €218 to €115,588
- Debts after one year -€65,894
down €65,894 (-100.0%), from €65,894 to €0
- Current portion of long-term debt -€25,772
down €25,772 (-100.0%), from €25,772 to €0
- Write-downs +€617,614
new in 2025: €617,614
- Gross operating margin -€348,663
down €348,663, from €343,992 to -€4,671
- Financial income +€146,298
up €146,298 (+68.7%), from €212,843 to €359,141
- Taxes -€77,427
down €77,427 (-99.5%), from €77,851 to €424
- Other operating charges +€41,310
up €41,310 (+611.4%), from €6,757 to €48,067
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 | €776,768 | €339,794 | -€436,974 | -56.3% |
| Fixed assets | 21/28 | €247,721 | €130,819 | -€116,901 | -47.2% |
| Intangible fixed assets | 21 | €1,526 | €714 | -€812 | -53.2% |
| Tangible fixed assets | 22/27 | €125,895 | €10,105 | -€115,789 | -92.0% |
| Furniture and vehicles | 24 | €622 | €0 | -€622 | -100.0% |
| Leasing and similar rights | 25 | €112,950 | €0 | -€112,950 | -100.0% |
| Other tangible fixed assets | 26 | €12,324 | €10,105 | -€2,218 | -18.0% |
| Financial fixed assets | 28 | €120,300 | €120,000 | -€300 | -0.2% |
| Current assets | 29/58 | €529,047 | €208,975 | -€320,073 | -60.5% |
| Amounts receivable after more than one year | 29 | - | €15,000 | +€15,000 | |
| Other amounts receivable | 291 | - | €15,000 | +€15,000 | |
| Amounts receivable within one year | 40/41 | €490,854 | €157,156 | -€333,698 | -68.0% |
| Trade receivables | 40 | €474,705 | €1,913 | -€472,792 | -99.6% |
| Other amounts receivable | 41 | €16,149 | €155,243 | +€139,094 | +861.3% |
| Current investments | 50/53 | €8,656 | €8,402 | -€254 | -2.9% |
| Cash at bank and in hand | 54/58 | €27,364 | €20,388 | -€6,976 | -25.5% |
| Deferred charges and accrued income | 490/1 | €2,174 | €8,029 | +€5,855 | +269.4% |
| Total equity and liabilities | 10/49 | €776,768 | €339,794 | -€436,974 | -56.3% |
| Equity | 10/15 | €385,360 | €66,113 | -€319,246 | -82.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €366,450 | €366,450 | = | 0.0% |
| Distributable reserves | 133 | €366,450 | €366,450 | = | 0.0% |
| Profit (loss) carried forward | 14 | €310 | -€318,937 | -€319,246 | |
| Amounts payable | 17/49 | €391,408 | €273,681 | -€117,728 | -30.1% |
| Amounts payable after more than one year | 17 | €65,894 | €0 | -€65,894 | -100.0% |
| Financial debts | 170/4 | €65,894 | €0 | -€65,894 | -100.0% |
| Amounts payable within one year | 42/48 | €325,514 | €270,737 | -€54,777 | -16.8% |
| Current portion of amounts payable after more than one year | 42 | €25,772 | €0 | -€25,772 | -100.0% |
| Trade debts | 44 | €218 | €115,588 | +€115,370 | +52856.6% |
| Suppliers | 440/4 | €218 | €115,588 | +€115,370 | +52856.6% |
| Taxes, remuneration and social security | 45 | €11,525 | €525 | -€11,000 | -95.4% |
| Taxes | 450/3 | €11,525 | €525 | -€11,000 | -95.4% |
| Other amounts payable | 47/48 | €287,998 | €154,623 | -€133,375 | -46.3% |
| Accrued charges and deferred income | 492/3 | - | €2,944 | +€2,944 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,348 | €3,652 | -€13,696 | -78.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €617,614 | +€617,614 | |
| Other operating charges | 640/8 | €6,757 | €48,067 | +€41,310 | +611.4% |
| Gross operating margin | 9900 | €343,992 | -€4,671 | -€348,663 | |
| Operating profit (loss) | 9901 | €319,888 | -€674,003 | -€993,891 | |
| Financial income | 75/76B | €212,843 | €359,141 | +€146,298 | +68.7% |
| Recurring financial income | 75 | €212,843 | €359,141 | +€146,298 | +68.7% |
| Financial charges | 65/66B | €27,570 | €3,960 | -€23,610 | -85.6% |
| Recurring financial charges | 65 | €27,570 | €3,960 | -€23,610 | -85.6% |
| Profit (loss) for the period before taxes | 9903 | €505,161 | -€318,822 | -€823,983 | |
| Income taxes | 67/77 | €77,851 | €424 | -€77,427 | -99.5% |
| Profit (loss) for the period | 9904 | €427,310 | -€319,246 | -€746,556 | |
| Profit (loss) for the period to be appropriated | 9905 | €427,310 | -€319,246 | -€746,556 |
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.