AUDREY KAISER MANAGEMENT: 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.
AUDREY KAISER MANAGEMENT
Largest movements
- Receivables within one year +€16,161
up €16,161 (+64.4%), from €25,110 to €41,271
of which Trade receivables: +€14,218
- Cash -€14,449
down €14,449 (-77.8%), from €18,572 to €4,123
mainly Debts after one year (-€28,106) and Investment in fixed assets (net) (-€16,913)
- Tangible fixed assets +€10,973
up €10,973 (+928%), from €1,182 to €12,155
of which Furniture and vehicles: +€11,336
- Reserves +€34,913
up €34,913 (+13.9%), from €251,439 to €286,351
- Debts after one year -€28,106
down €28,106 (-11.4%), from €246,119 to €218,013
- Gross operating margin +€7,487
up €7,487 (+14.2%), from €52,564 to €60,051
- Depreciation +€5,358
up €5,358 (+919%), from €583 to €5,941
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 | €568,457 | €581,244 | +€12,786 | +2.2% |
| Fixed assets | 21/28 | €524,776 | €535,748 | +€10,973 | +2.1% |
| Tangible fixed assets | 22/27 | €1,182 | €12,155 | +€10,973 | +928% |
| Plant, machinery and equipment | 23 | €965 | €602 | -€363 | -37.7% |
| Furniture and vehicles | 24 | €218 | €11,554 | +€11,336 | +5,208% |
| Financial fixed assets | 28 | €523,593 | €523,593 | = | 0.0% |
| Current assets | 29/58 | €43,682 | €45,496 | +€1,814 | +4.2% |
| Amounts receivable within one year | 40/41 | €25,110 | €41,271 | +€16,161 | +64.4% |
| Trade receivables | 40 | €7,109 | €21,326 | +€14,218 | +200% |
| Other amounts receivable | 41 | €18,001 | €19,945 | +€1,944 | +10.8% |
| Cash at bank and in hand | 54/58 | €18,572 | €4,123 | -€14,449 | -77.8% |
| Deferred charges and accrued income | 490/1 | - | €101 | +€101 | |
| Total equity and liabilities | 10/49 | €568,457 | €581,244 | +€12,786 | +2.2% |
| Equity | 10/15 | €263,839 | €298,751 | +€34,913 | +13.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €251,439 | €286,351 | +€34,913 | +13.9% |
| Distributable reserves | 133 | €251,439 | €286,351 | +€34,913 | +13.9% |
| Amounts payable | 17/49 | €304,619 | €282,492 | -€22,126 | -7.3% |
| Amounts payable after more than one year | 17 | €246,119 | €218,013 | -€28,106 | -11.4% |
| Financial debts | 170/4 | €246,119 | €218,013 | -€28,106 | -11.4% |
| Amounts payable within one year | 42/48 | €58,500 | €64,480 | +€5,980 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €33,275 | €38,714 | +€5,439 | +16.3% |
| Trade debts | 44 | €417 | €726 | +€309 | +74.1% |
| Suppliers | 440/4 | €417 | €726 | +€309 | +74.1% |
| Taxes, remuneration and social security | 45 | €1,070 | €1,302 | +€232 | +21.7% |
| Taxes | 450/3 | €1,070 | €1,302 | +€232 | +21.7% |
| Other amounts payable | 47/48 | €23,737 | €23,737 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €583 | €5,941 | +€5,358 | +919% |
| Other operating charges | 640/8 | €954 | €1,008 | +€55 | +5.7% |
| Gross operating margin | 9900 | €52,564 | €60,051 | +€7,487 | +14.2% |
| Operating profit (loss) | 9901 | €51,027 | €53,102 | +€2,074 | +4.1% |
| Financial charges | 65/66B | €4,609 | €4,515 | -€94 | -2.0% |
| Recurring financial charges | 65 | €4,609 | €4,515 | -€94 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €46,418 | €48,586 | +€2,168 | +4.7% |
| Income taxes | 67/77 | €13,369 | €13,674 | +€305 | +2.3% |
| Profit (loss) for the period | 9904 | €33,049 | €34,913 | +€1,863 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,049 | €34,913 | +€1,863 | +5.6% |
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 29 October 2026 via checked.be.