Dr Kisoka: what changed
What changed
Dr Kisoka
filed annual accounts (NBB)
Net result for the year
€151,428
2024 · €188,560-€37,132
Equity
€301,960
2024 · €533,284-€231,323
Cash
€315,413
2024 · €325,145-€9,732
Balance sheet total
€1.0m
2024 · €780,085+€222,973
Largest movements
Assets
- Tangible fixed assets +€258,116
up €258,116 (+90.0%), from €286,939 to €545,055
of which Land and buildings: +€266,011
- Receivables within one year -€19,799
down €19,799 (-41.1%), from €48,187 to €28,388
of which Other amounts receivable: -€33,815
Equity and liabilities
- Other debts +€248,977
new in 2025: €248,977
- Reserves -€231,323
down €231,323 (-44.9%), from €514,684 to €283,360
- Debts after one year +€180,660
up €180,660 (+83.0%), from €217,535 to €398,195
- Current portion of long-term debt +€27,021
up €27,021 (+112%), from €24,114 to €51,135
Income statement
- Depreciation +€42,386
up €42,386 (+76.9%), from €55,121 to €97,507
- Taxes -€17,352
down €17,352 (-27.5%), from €63,036 to €45,684
- Financial charges +€4,308
up €4,308 (+99.7%), from €4,320 to €8,628
- Financial income -€3,784
down €3,784 (-99.1%), from €3,819 to €35
- Gross operating margin -€3,542
down €3,542 (-1.1%), from €309,851 to €306,309
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€188,560
Gross operating margin
-€3,542
Depreciation
-€42,386
Other operating charges
-€463
Financial income
-€3,784
Financial charges
-€4,308
Taxes
+€17,352
Result 2025
€151,428
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€511,701
Investment
-€346,362
Financing
-€175,070
Cash 2024
€325,145
From operations (derived)
+€511,701
Net result for the year
+€151,428
Depreciation
+€97,507
Receivables within one year
+€19,799
Deferred charges and accrued income
-€3,648
Trade debts
-€1,271
Tax, wage and social debts
-€1,091
Other debts
+€248,977
Investment (derived)
-€346,362
Investment in fixed assets (net)
-€346,362
Financing
-€175,070
Debts after one year
+€180,660
Current portion of long-term debt
+€27,021
Contributions, distributions and other
-€382,751
Cash 2025
€315,413
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €780,085 | €1,003,058 | +€222,973 | +28.6% |
| Fixed assets | 21/28 | €317,034 | €565,890 | +€248,856 | +78.5% |
| Intangible fixed assets | 21 | €30,095 | €20,835 | -€9,260 | -30.8% |
| Tangible fixed assets | 22/27 | €286,939 | €545,055 | +€258,116 | +90.0% |
| Land and buildings | 22 | €270,533 | €536,544 | +€266,011 | +98.3% |
| Plant, machinery and equipment | 23 | €9,054 | €3,464 | -€5,589 | -61.7% |
| Furniture and vehicles | 24 | €7,353 | €5,046 | -€2,306 | -31.4% |
| Current assets | 29/58 | €463,050 | €437,168 | -€25,883 | -5.6% |
| Amounts receivable within one year | 40/41 | €48,187 | €28,388 | -€19,799 | -41.1% |
| Trade receivables | 40 | - | €14,016 | +€14,016 | |
| Other amounts receivable | 41 | €48,187 | €14,372 | -€33,815 | -70.2% |
| Cash at bank and in hand | 54/58 | €325,145 | €315,413 | -€9,732 | -3.0% |
| Deferred charges and accrued income | 490/1 | €89,718 | €93,366 | +€3,648 | +4.1% |
| Total equity and liabilities | 10/49 | €780,085 | €1,003,058 | +€222,973 | +28.6% |
| Equity | 10/15 | €533,284 | €301,960 | -€231,323 | -43.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €514,684 | €283,360 | -€231,323 | -44.9% |
| Distributable reserves | 133 | €514,684 | €283,360 | -€231,323 | -44.9% |
| Amounts payable | 17/49 | €246,801 | €701,097 | +€454,296 | +184% |
| Amounts payable after more than one year | 17 | €217,535 | €398,195 | +€180,660 | +83.0% |
| Financial debts | 170/4 | €217,535 | €398,195 | +€180,660 | +83.0% |
| Amounts payable within one year | 42/48 | €29,266 | €302,902 | +€273,636 | +935% |
| Current portion of amounts payable after more than one year | 42 | €24,114 | €51,135 | +€27,021 | +112% |
| Trade debts | 44 | €2,111 | €840 | -€1,271 | -60.2% |
| Suppliers | 440/4 | €2,111 | €840 | -€1,271 | -60.2% |
| Taxes, remuneration and social security | 45 | €3,041 | €1,950 | -€1,091 | -35.9% |
| Taxes | 450/3 | €3,041 | €1,950 | -€1,091 | -35.9% |
| Other amounts payable | 47/48 | - | €248,977 | +€248,977 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,121 | €97,507 | +€42,386 | +76.9% |
| Other operating charges | 640/8 | €2,633 | €3,097 | +€463 | +17.6% |
| Gross operating margin | 9900 | €309,851 | €306,309 | -€3,542 | -1.1% |
| Operating profit (loss) | 9901 | €252,097 | €205,705 | -€46,392 | -18.4% |
| Financial income | 75/76B | €3,819 | €35 | -€3,784 | -99.1% |
| Recurring financial income | 75 | €3,819 | €35 | -€3,784 | -99.1% |
| Financial charges | 65/66B | €4,320 | €8,628 | +€4,308 | +99.7% |
| Recurring financial charges | 65 | €4,320 | €8,628 | +€4,308 | +99.7% |
| Profit (loss) for the period before taxes | 9903 | €251,596 | €197,112 | -€54,484 | -21.7% |
| Income taxes | 67/77 | €63,036 | €45,684 | -€17,352 | -27.5% |
| Profit (loss) for the period | 9904 | €188,560 | €151,428 | -€37,132 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €188,560 | €151,428 | -€37,132 | -19.7% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.