KAISIN: what changed
Two fiscal 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.
KAISIN
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Profit (loss) carried forward +€134,685
up €134,685 (+30.0%), from -€448,382 to -€313,697
- Other debts -€103,801
down €103,801 (-15.9%), from €653,383 to €549,582
- Debts after one year -€45,392
down €45,392 (-6.9%), from €656,598 to €611,206
of which Financial debts: -€45,392
- Trade debts +€14,251
up €14,251 (+62.0%), from €22,970 to €37,221
- Turnover +€34,271
up €34,271 (+13.5%), from €253,969 to €288,239
- Financial charges -€14,714
down €14,714 (-30.7%), from €47,870 to €33,156
- Other operating charges +€7,103
up €7,103 (+25.9%), from €27,439 to €34,542
- Depreciation -€4,810
down €4,810 (-8.7%), from €55,242 to €50,432
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.
Cash bridge derived
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 | €1,161,911 | €1,162,506 | +€595 | +0.1% |
| Fixed assets | 21/28 | €1,157,299 | €1,154,374 | -€2,925 | -0.3% |
| Tangible fixed assets | 22/27 | €1,157,299 | €1,154,374 | -€2,925 | -0.3% |
| Land and buildings | 22 | €1,152,267 | €1,117,416 | -€34,851 | -3.0% |
| Plant, machinery and equipment | 23 | €5,032 | €36,958 | +€31,926 | +634.5% |
| Current assets | 29/58 | €4,612 | €8,132 | +€3,520 | +76.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €3,521 | €7,130 | +€3,609 | +102.5% |
| Trade receivables | 40 | €3,521 | €6,130 | +€2,609 | +74.1% |
| Other amounts receivable | 41 | €0 | €1,000 | +€1,000 | |
| Cash at bank and in hand | 54/58 | €1,090 | €1,002 | -€89 | -8.1% |
| Total equity and liabilities | 10/49 | €1,161,911 | €1,162,506 | +€595 | +0.1% |
| Equity | 10/15 | -€229,632 | -€94,947 | +€134,685 | +58.7% |
| Contributions | 10/11 | €212,500 | €212,500 | = | 0.0% |
| Capital | 10 | €212,500 | €212,500 | = | 0.0% |
| Issued capital | 100 | €212,500 | €212,500 | = | 0.0% |
| Reserves | 13 | €6,250 | €6,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€448,382 | -€313,697 | +€134,685 | +30.0% |
| Amounts payable | 17/49 | €1,391,543 | €1,257,453 | -€134,090 | -9.6% |
| Amounts payable after more than one year | 17 | €656,598 | €611,206 | -€45,392 | -6.9% |
| Financial debts | 170/4 | €577,731 | €532,339 | -€45,392 | -7.9% |
| Credit institutions | 173 | €577,731 | €532,339 | -€45,392 | -7.9% |
| Other amounts payable | 178/9 | €78,867 | €78,867 | = | 0.0% |
| Amounts payable within one year | 42/48 | €720,893 | €632,195 | -€88,698 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €44,540 | €45,392 | +€852 | +1.9% |
| Trade debts | 44 | €22,970 | €37,221 | +€14,251 | +62.0% |
| Suppliers | 440/4 | €22,970 | €37,221 | +€14,251 | +62.0% |
| Other amounts payable | 47/48 | €653,383 | €549,582 | -€103,801 | -15.9% |
| Accrued charges and deferred income | 492/3 | €14,052 | €14,052 | = | 0.0% |
| Operating income | 70/76A | €253,969 | €288,239 | +€34,271 | +13.5% |
| Turnover | 70 | €253,969 | €288,239 | +€34,271 | +13.5% |
| Other operating income | 74 | €0 | - | = | |
| Operating charges | 60/66A | €118,947 | €120,398 | +€1,451 | +1.2% |
| Services and other goods | 61 | €36,266 | €35,425 | -€842 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,242 | €50,432 | -€4,810 | -8.7% |
| Other operating charges | 640/8 | €27,439 | €34,542 | +€7,103 | +25.9% |
| Operating profit (loss) | 9901 | €135,022 | €167,841 | +€32,820 | +24.3% |
| Financial charges | 65/66B | €47,870 | €33,156 | -€14,714 | -30.7% |
| Recurring financial charges | 65 | €47,870 | €33,156 | -€14,714 | -30.7% |
| Debt charges | 650 | €47,483 | €32,716 | -€14,767 | -31.1% |
| Other financial charges | 652/9 | €387 | €440 | +€53 | +13.8% |
| Profit (loss) for the period before taxes | 9903 | €87,152 | €134,685 | +€47,534 | +54.5% |
| Profit (loss) for the period | 9904 | €87,152 | €134,685 | +€47,534 | +54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €87,152 | €134,685 | +€47,534 | +54.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.