KALISAN: what changed
What changed
KALISAN
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€345,132
2024 · €161,559+€183,573
Equity
€6.5m
2024 · €6.2m+€314,317
Cash
€230,663
2024 · €286,260-€55,597
Balance sheet total
€7.7m
2024 · €7.4m+€246,076
Largest movements
Assets
- Receivables within one year +€148,166
up €148,166 (+352%), from €42,122 to €190,288
of which Other amounts receivable: +€165,352
- Current investments +€108,895
up €108,895 (+2.7%), from €4.0m to €4.1m
Equity and liabilities
- Reserves +€314,317
up €314,317 (+5.1%), from €6.1m to €6.4m
of which Distributable reserves: +€314,317
Income statement
- Financial income +€276,867
up €276,867 (+218%), from €126,969 to €403,836
- Gross operating margin -€49,093
down €49,093 (-35.1%), from €139,731 to €90,638
- Depreciation +€22,456
up €22,456 (+100%), from €22,369 to €44,825
- Taxes +€18,095
up €18,095 (+52.9%), from €34,189 to €52,284
- Financial charges -€17,611
down €17,611 (-37.3%), from €47,200 to €29,590
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
€161,559
Gross operating margin
-€49,093
Depreciation
-€22,456
Other operating charges
-€39
Other operating items
-€21,222
Financial income
+€276,867
Financial charges
+€17,611
Taxes
-€18,095
Result 2025
€345,132
raises the resultlowers the resultnot broken down further in the accounts
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
+€218,473
Investment
-€198,333
Financing
-€75,738
Cash 2024
€286,260
From operations (derived)
+€218,473
Net result for the year
+€345,132
Depreciation
+€44,825
Receivables within one year
-€148,166
Trade debts
+€1,359
Tax, wage and social debts
+€22,188
Other debts
-€46,865
Investment (derived)
-€198,333
Investment in fixed assets (net)
-€89,438
Current investments
-€108,895
Financing
-€75,738
Debts after one year
-€46,177
Current portion of long-term debt
+€1,255
Contributions, distributions and other
-€30,815
Cash 2025
€230,663
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,434,504 | €7,680,579 | +€246,076 | +3.3% |
| Fixed assets | 21/28 | €3,123,769 | €3,168,382 | +€44,613 | +1.4% |
| Tangible fixed assets | 22/27 | €105,024 | €149,637 | +€44,613 | +42.5% |
| Plant, machinery and equipment | 23 | €1,659 | €1,539 | -€120 | -7.2% |
| Furniture and vehicles | 24 | €103,365 | €148,097 | +€44,732 | +43.3% |
| Financial fixed assets | 28 | €3,018,745 | €3,018,745 | = | 0.0% |
| Current assets | 29/58 | €4,310,735 | €4,512,198 | +€201,463 | +4.7% |
| Amounts receivable within one year | 40/41 | €42,122 | €190,288 | +€148,166 | +352% |
| Trade receivables | 40 | €19,380 | €2,194 | -€17,186 | -88.7% |
| Other amounts receivable | 41 | €22,742 | €188,094 | +€165,352 | +727% |
| Current investments | 50/53 | €3,982,352 | €4,091,247 | +€108,895 | +2.7% |
| Cash at bank and in hand | 54/58 | €286,260 | €230,663 | -€55,597 | -19.4% |
| Total equity and liabilities | 10/49 | €7,434,504 | €7,680,579 | +€246,076 | +3.3% |
| Equity | 10/15 | €6,230,030 | €6,544,347 | +€314,317 | +5.0% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €6,105,030 | €6,419,347 | +€314,317 | +5.1% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €6,092,530 | €6,406,847 | +€314,317 | +5.2% |
| Amounts payable | 17/49 | €1,204,473 | €1,136,232 | -€68,241 | -5.7% |
| Amounts payable after more than one year | 17 | €1,079,319 | €1,033,141 | -€46,177 | -4.3% |
| Financial debts | 170/4 | €1,079,319 | €1,033,141 | -€46,177 | -4.3% |
| Amounts payable within one year | 42/48 | €125,155 | €103,091 | -€22,064 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €44,923 | €46,177 | +€1,255 | +2.8% |
| Trade debts | 44 | €6,335 | €7,694 | +€1,359 | +21.5% |
| Suppliers | 440/4 | €6,335 | €7,694 | +€1,359 | +21.5% |
| Taxes, remuneration and social security | 45 | €27,032 | €49,219 | +€22,188 | +82.1% |
| Taxes | 450/3 | €27,032 | €49,219 | +€22,188 | +82.1% |
| Other amounts payable | 47/48 | €46,865 | - | -€46,865 | |
| Non-recurring operating income | 76A | €33,691 | - | -€33,691 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,369 | €44,825 | +€22,456 | +100% |
| Other operating charges | 640/8 | €1,383 | €1,421 | +€39 | +2.8% |
| Non-recurring operating charges | 66A | - | €21,222 | +€21,222 | |
| Gross operating margin | 9900 | €139,731 | €90,638 | -€49,093 | -35.1% |
| Operating profit (loss) | 9901 | €115,980 | €23,170 | -€92,810 | -80.0% |
| Financial income | 75/76B | €126,969 | €403,836 | +€276,867 | +218% |
| Recurring financial income | 75 | €126,969 | €403,836 | +€276,867 | +218% |
| Financial charges | 65/66B | €47,200 | €29,590 | -€17,611 | -37.3% |
| Recurring financial charges | 65 | €47,200 | €29,590 | -€17,611 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €195,748 | €397,416 | +€201,668 | +103% |
| Income taxes | 67/77 | €34,189 | €52,284 | +€18,095 | +52.9% |
| Profit (loss) for the period | 9904 | €161,559 | €345,132 | +€183,573 | +114% |
| Profit (loss) for the period to be appropriated | 9905 | €161,559 | €345,132 | +€183,573 | +114% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.