De Kazerne: 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.
De Kazerne
Largest movements
- Current investments +€75,000
up €75,000 (+60.0%), from €125,000 to €200,000
- Cash +€30,636
up €30,636 (+23.3%), from €131,494 to €162,130
mainly Net result for the year (+€125,292) and Depreciation (+€9,023)
- Receivables within one year +€29,010
up €29,010 (+458%), from €6,334 to €35,343
of which Trade receivables: +€29,010
- Intangible fixed assets -€6,000
down €6,000 (-32.2%), from €18,625 to €12,625
- Reserves +€125,292
up €125,292 (+102%), from €122,919 to €248,211
- Tax, wage and social debts -€5,463
down €5,463 (-5.2%), from €104,121 to €98,657
of which Remuneration and social security: -€17,562
- Gross operating margin +€114,955
up €114,955 (+42.2%), from €272,471 to €387,426
- Staff costs +€34,021
up €34,021 (+18.9%), from €179,741 to €213,762
- Taxes +€21,781
up €21,781 (+157%), from €13,887 to €35,668
- Financial charges -€6,894
down €6,894 (-89.3%), from €7,718 to €824
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 | €309,575 | €433,793 | +€124,218 | +40.1% |
| Fixed assets | 21/28 | €29,828 | €20,805 | -€9,023 | -30.3% |
| Intangible fixed assets | 21 | €18,625 | €12,625 | -€6,000 | -32.2% |
| Tangible fixed assets | 22/27 | €11,203 | €8,180 | -€3,023 | -27.0% |
| Land and buildings | 22 | €1,941 | €1,736 | -€205 | -10.5% |
| Plant, machinery and equipment | 23 | €4,202 | €2,982 | -€1,220 | -29.0% |
| Furniture and vehicles | 24 | €5,060 | €3,462 | -€1,598 | -31.6% |
| Current assets | 29/58 | €279,747 | €412,988 | +€133,241 | +47.6% |
| Stocks and contracts in progress | 3 | €16,920 | €13,531 | -€3,389 | -20.0% |
| Stocks | 30/36 | €16,920 | €13,531 | -€3,389 | -20.0% |
| Amounts receivable within one year | 40/41 | €6,334 | €35,343 | +€29,010 | +458% |
| Trade receivables | 40 | €6,334 | €35,343 | +€29,010 | +458% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €125,000 | €200,000 | +€75,000 | +60.0% |
| Cash at bank and in hand | 54/58 | €131,494 | €162,130 | +€30,636 | +23.3% |
| Deferred charges and accrued income | 490/1 | €0 | €1,984 | +€1,984 | |
| Total equity and liabilities | 10/49 | €309,575 | €433,793 | +€124,218 | +40.1% |
| Equity | 10/15 | €132,919 | €258,211 | +€125,292 | +94.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €122,919 | €248,211 | +€125,292 | +102% |
| Distributable reserves | 133 | €122,919 | €248,211 | +€125,292 | +102% |
| Amounts payable | 17/49 | €176,656 | €175,582 | -€1,074 | -0.6% |
| Amounts payable after more than one year | 17 | €18,000 | €18,000 | = | 0.0% |
| Financial debts | 170/4 | €18,000 | €18,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €158,656 | €157,060 | -€1,596 | -1.0% |
| Trade debts | 44 | €44,480 | €47,968 | +€3,487 | +7.8% |
| Suppliers | 440/4 | €44,480 | €47,968 | +€3,487 | +7.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €104,121 | €98,657 | -€5,463 | -5.2% |
| Taxes | 450/3 | €66,128 | €78,227 | +€12,099 | +18.3% |
| Remuneration and social security | 454/9 | €37,992 | €20,430 | -€17,562 | -46.2% |
| Other amounts payable | 47/48 | €10,055 | €10,435 | +€380 | +3.8% |
| Accrued charges and deferred income | 492/3 | - | €522 | +€522 | |
| Remuneration, social security and pensions | 62 | €179,741 | €213,762 | +€34,021 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,835 | €9,023 | +€188 | +2.1% |
| Other operating charges | 640/8 | €7,399 | €5,651 | -€1,748 | -23.6% |
| Gross operating margin | 9900 | €272,471 | €387,426 | +€114,955 | +42.2% |
| Operating profit (loss) | 9901 | €76,496 | €158,990 | +€82,494 | +108% |
| Financial income | 75/76B | €0 | €2,793 | +€2,793 | +3,491,000% |
| Recurring financial income | 75 | €0 | €2,793 | +€2,793 | +3,491,000% |
| Financial charges | 65/66B | €7,718 | €824 | -€6,894 | -89.3% |
| Recurring financial charges | 65 | €7,718 | €824 | -€6,894 | -89.3% |
| Profit (loss) for the period before taxes | 9903 | €68,778 | €160,960 | +€92,181 | +134% |
| Income taxes | 67/77 | €13,887 | €35,668 | +€21,781 | +157% |
| Profit (loss) for the period | 9904 | €54,892 | €125,292 | +€70,400 | +128% |
| Profit (loss) for the period to be appropriated | 9905 | €54,892 | €125,292 | +€70,400 | +128% |
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 15 October 2026 via checked.be.