De Kessel: 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 Kessel
Largest movements
- Receivables within one year -€12,427
down €12,427 (-4.2%), from €296,412 to €283,985
of which Other amounts receivable: -€57,982
- Tangible fixed assets -€7,186
down €7,186 (-4.1%), from €173,736 to €166,550
of which Land and buildings: -€13,312
- Other debts +€56,745
new in 2025: €56,745
- Trade debts -€48,651
down €48,651 (-71.4%), from €68,160 to €19,509
- Debts after one year -€26,069
down €26,069 (-15.6%), from €166,825 to €140,757
- Tax, wage and social debts +€19,487
up €19,487 (+141%), from €13,807 to €33,295
of which Taxes: +€22,290
- Current portion of long-term debt -€14,471
down €14,471 (-30.3%), from €47,791 to €33,320
- Gross operating margin +€29,957
up €29,957 (+33.0%), from €90,775 to €120,732
- Staff costs -€17,283
down €17,283 (-58.7%), from €29,466 to €12,183
- Taxes +€12,174
up €12,174 (+120%), from €10,166 to €22,340
- Financial charges +€10,841
up €10,841 (+128%), from €8,440 to €19,281
- Other operating charges +€1,568
up €1,568 (+38.5%), from €4,073 to €5,641
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €470,148 | €450,535 | -€19,613 | -4.2% |
| Fixed assets | 21/28 | €173,736 | €166,550 | -€7,186 | -4.1% |
| Tangible fixed assets | 22/27 | €173,736 | €166,550 | -€7,186 | -4.1% |
| Land and buildings | 22 | €169,757 | €156,445 | -€13,312 | -7.8% |
| Plant, machinery and equipment | 23 | €3,979 | €10,105 | +€6,126 | +154% |
| Current assets | 29/58 | €296,412 | €283,985 | -€12,427 | -4.2% |
| Amounts receivable within one year | 40/41 | €296,412 | €283,985 | -€12,427 | -4.2% |
| Trade receivables | 40 | €57,303 | €102,858 | +€45,555 | +79.5% |
| Other amounts receivable | 41 | €239,110 | €181,127 | -€57,982 | -24.2% |
| Total equity and liabilities | 10/49 | €470,148 | €450,535 | -€19,613 | -4.2% |
| Equity | 10/15 | €160,850 | €148,146 | -€12,704 | -7.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €142,258 | €129,554 | -€12,704 | -8.9% |
| Distributable reserves | 133 | €142,258 | €129,554 | -€12,704 | -8.9% |
| Amounts payable | 17/49 | €309,299 | €302,390 | -€6,909 | -2.2% |
| Amounts payable after more than one year | 17 | €166,825 | €140,757 | -€26,069 | -15.6% |
| Financial debts | 170/4 | €166,825 | €140,757 | -€26,069 | -15.6% |
| Amounts payable within one year | 42/48 | €142,473 | €161,633 | +€19,159 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €47,791 | €33,320 | -€14,471 | -30.3% |
| Financial debts | 43 | €12,715 | €18,765 | +€6,050 | +47.6% |
| Credit institutions | 430/8 | €12,715 | €18,765 | +€6,050 | +47.6% |
| Trade debts | 44 | €68,160 | €19,509 | -€48,651 | -71.4% |
| Suppliers | 440/4 | €68,160 | €19,509 | -€48,651 | -71.4% |
| Taxes, remuneration and social security | 45 | €13,807 | €33,295 | +€19,487 | +141% |
| Taxes | 450/3 | €11,005 | €33,295 | +€22,290 | +203% |
| Remuneration and social security | 454/9 | €2,802 | - | -€2,802 | |
| Other amounts payable | 47/48 | - | €56,745 | +€56,745 | |
| Remuneration, social security and pensions | 62 | €29,466 | €12,183 | -€17,283 | -58.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,368 | €15,637 | +€1,269 | +8.8% |
| Other operating charges | 640/8 | €4,073 | €5,641 | +€1,568 | +38.5% |
| Non-recurring operating charges | 66A | €85 | €88 | +€3 | +3.1% |
| Gross operating margin | 9900 | €90,775 | €120,732 | +€29,957 | +33.0% |
| Operating profit (loss) | 9901 | €42,783 | €87,183 | +€44,400 | +104% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €8,440 | €19,281 | +€10,841 | +128% |
| Recurring financial charges | 65 | €8,440 | €19,281 | +€10,841 | +128% |
| Profit (loss) for the period before taxes | 9903 | €34,343 | €67,902 | +€33,559 | +97.7% |
| Income taxes | 67/77 | €10,166 | €22,340 | +€12,174 | +120% |
| Profit (loss) for the period | 9904 | €24,177 | €45,563 | +€21,385 | +88.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,177 | €45,563 | +€21,385 | +88.5% |
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.