Kaseh: 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.
Kaseh
Largest movements
- Cash -€136,763
down €136,763 (-75.9%), from €180,101 to €43,338
mainly Contributions, distributions and other (-€220,000) and Net result for the year (-€61,948)
- Current investments -€119,281
no longer reported in 2025 (was €119,281)
- Tangible fixed assets -€22,673
down €22,673 (-91.1%), from €24,896 to €2,224
of which Furniture and vehicles: -€21,566
- Receivables within one year -€22,109
down €22,109 (-92.1%), from €24,018 to €1,909
of which Trade receivables: -€18,364
- Profit (loss) carried forward -€281,948
down €281,948 (-92.5%), from €304,842 to €22,894
- Trade debts -€19,987
no longer reported in 2025 (was €19,987)
- Depreciation -€12,808
down €12,808 (-95.5%), from €13,416 to €607
- Gross operating margin -€10,922
down €10,922 (-21.4%), from -€51,117 to -€62,039
- Financial income +€10,365
up €10,365 (+204.4%), from €5,070 to €15,435
- Other operating charges +€7,049
up €7,049 (+175.4%), from €4,019 to €11,067
- Financial charges -€3,168
down €3,168, from €2,258 to -€910
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 | €349,381 | €47,471 | -€301,911 | -86.4% |
| Fixed assets | 21/28 | €24,896 | €2,224 | -€22,673 | -91.1% |
| Tangible fixed assets | 22/27 | €24,896 | €2,224 | -€22,673 | -91.1% |
| Plant, machinery and equipment | 23 | €3,330 | €2,224 | -€1,107 | -33.2% |
| Furniture and vehicles | 24 | €21,566 | - | -€21,566 | |
| Current assets | 29/58 | €324,485 | €45,247 | -€279,238 | -86.1% |
| Amounts receivable within one year | 40/41 | €24,018 | €1,909 | -€22,109 | -92.1% |
| Trade receivables | 40 | €18,364 | - | -€18,364 | |
| Other amounts receivable | 41 | €5,654 | €1,909 | -€3,745 | -66.2% |
| Current investments | 50/53 | €119,281 | - | -€119,281 | |
| Cash at bank and in hand | 54/58 | €180,101 | €43,338 | -€136,763 | -75.9% |
| Deferred charges and accrued income | 490/1 | €1,085 | - | -€1,085 | |
| Total equity and liabilities | 10/49 | €349,381 | €47,471 | -€301,911 | -86.4% |
| Equity | 10/15 | €325,302 | €43,354 | -€281,948 | -86.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €304,842 | €22,894 | -€281,948 | -92.5% |
| Amounts payable | 17/49 | €24,079 | €4,116 | -€19,962 | -82.9% |
| Amounts payable within one year | 42/48 | €24,036 | €4,099 | -€19,937 | -82.9% |
| Trade debts | 44 | €19,987 | - | -€19,987 | |
| Suppliers | 440/4 | €19,987 | - | -€19,987 | |
| Taxes, remuneration and social security | 45 | €4,049 | €3,493 | -€556 | -13.7% |
| Taxes | 450/3 | €710 | €3,493 | +€2,782 | +391.7% |
| Remuneration and social security | 454/9 | €3,339 | - | -€3,339 | |
| Other amounts payable | 47/48 | - | €606 | +€606 | |
| Accrued charges and deferred income | 492/3 | €43 | €17 | -€26 | -59.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,416 | €607 | -€12,808 | -95.5% |
| Other operating charges | 640/8 | €4,019 | €11,067 | +€7,049 | +175.4% |
| Non-recurring operating charges | 66A | - | €605 | +€605 | |
| Gross operating margin | 9900 | -€51,117 | -€62,039 | -€10,922 | -21.4% |
| Operating profit (loss) | 9901 | -€68,551 | -€74,319 | -€5,768 | -8.4% |
| Financial income | 75/76B | €5,070 | €15,435 | +€10,365 | +204.4% |
| Recurring financial income | 75 | €5,070 | €15,435 | +€10,365 | +204.4% |
| Financial charges | 65/66B | €2,258 | -€910 | -€3,168 | |
| Recurring financial charges | 65 | €2,258 | -€910 | -€3,168 | |
| Profit (loss) for the period before taxes | 9903 | -€65,739 | -€57,974 | +€7,765 | +11.8% |
| Income taxes | 67/77 | €1,150 | €3,974 | +€2,825 | +245.7% |
| Profit (loss) for the period | 9904 | -€66,888 | -€61,948 | +€4,940 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€66,888 | -€61,948 | +€4,940 | +7.4% |
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 8 October 2026 via checked.be.