KAARSLICHT: 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.
KAARSLICHT
Largest movements
- Tangible fixed assets +€625,435
up €625,435 (+373%), from €167,551 to €792,987
of which Land and buildings: +€598,406
- Cash -€34,618
down €34,618 (-16.0%), from €216,796 to €182,178
mainly Investment in fixed assets (net) (-€721,765) and Trade debts (-€16,058)
- Other debts +€274,799
up €274,799 (+1,356%), from €20,270 to €295,069
- Debts after one year +€232,765
up €232,765 (+985%), from €23,623 to €256,388
- Reserves +€82,196
up €82,196 (+32.3%), from €254,256 to €336,452
- Current portion of long-term debt +€24,234
up €24,234 (+213%), from €11,401 to €35,635
- Trade debts -€16,058
down €16,058 (-31.8%), from €50,565 to €34,506
- Gross operating margin +€66,940
up €66,940 (+25.4%), from €263,339 to €330,279
- Depreciation +€59,321
up €59,321 (+160%), from €37,009 to €96,330
- Staff costs +€4,132
up €4,132 (+4.3%), from €95,905 to €100,037
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 | €444,413 | €1,027,996 | +€583,583 | +131% |
| Fixed assets | 21/28 | €167,551 | €792,987 | +€625,435 | +373% |
| Tangible fixed assets | 22/27 | €167,551 | €792,987 | +€625,435 | +373% |
| Land and buildings | 22 | €106,032 | €704,437 | +€598,406 | +564% |
| Plant, machinery and equipment | 23 | €15,799 | €13,050 | -€2,749 | -17.4% |
| Furniture and vehicles | 24 | €45,721 | €75,499 | +€29,779 | +65.1% |
| Current assets | 29/58 | €276,861 | €235,009 | -€41,852 | -15.1% |
| Stocks and contracts in progress | 3 | €41,050 | €41,970 | +€920 | +2.2% |
| Stocks | 30/36 | €41,050 | €41,970 | +€920 | +2.2% |
| Amounts receivable within one year | 40/41 | €14,326 | €8,273 | -€6,053 | -42.2% |
| Trade receivables | 40 | €12,329 | €8,273 | -€4,056 | -32.9% |
| Other amounts receivable | 41 | €1,997 | - | -€1,997 | |
| Cash at bank and in hand | 54/58 | €216,796 | €182,178 | -€34,618 | -16.0% |
| Deferred charges and accrued income | 490/1 | €4,689 | €2,588 | -€2,101 | -44.8% |
| Total equity and liabilities | 10/49 | €444,413 | €1,027,996 | +€583,583 | +131% |
| Equity | 10/15 | €277,331 | €359,527 | +€82,196 | +29.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €254,256 | €336,452 | +€82,196 | +32.3% |
| Distributable reserves | 133 | €254,256 | €336,452 | +€82,196 | +32.3% |
| Profit (loss) carried forward | 14 | €4,475 | €4,475 | = | 0.0% |
| Amounts payable | 17/49 | €167,082 | €668,469 | +€501,387 | +300% |
| Amounts payable after more than one year | 17 | €23,623 | €256,388 | +€232,765 | +985% |
| Financial debts | 170/4 | €23,623 | €256,388 | +€232,765 | +985% |
| Amounts payable within one year | 42/48 | €143,459 | €412,081 | +€268,622 | +187% |
| Current portion of amounts payable after more than one year | 42 | €11,401 | €35,635 | +€24,234 | +213% |
| Trade debts | 44 | €50,565 | €34,506 | -€16,058 | -31.8% |
| Suppliers | 440/4 | €50,565 | €34,506 | -€16,058 | -31.8% |
| Taxes, remuneration and social security | 45 | €61,223 | €46,871 | -€14,353 | -23.4% |
| Taxes | 450/3 | €53,051 | €39,361 | -€13,691 | -25.8% |
| Remuneration and social security | 454/9 | €8,172 | €7,510 | -€662 | -8.1% |
| Other amounts payable | 47/48 | €20,270 | €295,069 | +€274,799 | +1,356% |
| Remuneration, social security and pensions | 62 | €95,905 | €100,037 | +€4,132 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,009 | €96,330 | +€59,321 | +160% |
| Other operating charges | 640/8 | €4,129 | €4,254 | +€125 | +3.0% |
| Gross operating margin | 9900 | €263,339 | €330,279 | +€66,940 | +25.4% |
| Operating profit (loss) | 9901 | €126,297 | €129,658 | +€3,361 | +2.7% |
| Financial income | 75/76B | €1 | €53 | +€52 | +4,378% |
| Recurring financial income | 75 | €1 | €53 | +€52 | +4,378% |
| Financial charges | 65/66B | €6,257 | €8,611 | +€2,354 | +37.6% |
| Recurring financial charges | 65 | €6,257 | €8,611 | +€2,354 | +37.6% |
| Profit (loss) for the period before taxes | 9903 | €120,041 | €121,100 | +€1,059 | +0.9% |
| Income taxes | 67/77 | €39,941 | €38,904 | -€1,037 | -2.6% |
| Profit (loss) for the period | 9904 | €80,100 | €82,196 | +€2,096 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €80,100 | €82,196 | +€2,096 | +2.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.