KASHER INVEST: 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.
KASHER INVEST
Largest movements
- Cash -€18,541
down €18,541 (-87.9%), from €21,082 to €2,541
mainly Investment in fixed assets (net) (-€72,239) and Net result for the year (-€64,464)
- Profit (loss) carried forward -€64,464
down €64,464 (-61.3%), from -€105,214 to -€169,678
- Other debts +€52,007
up €52,007 (+23.3%), from €222,821 to €274,828
- Current portion of long-term debt +€27,438
up €27,438 (+68.9%), from €39,802 to €67,240
- Debts after one year -€26,540
down €26,540 (-2.3%), from €1.1m to €1.1m
of which Financial debts: -€27,240
- Depreciation +€23,441
up €23,441 (+56.2%), from €41,738 to €65,179
- Financial charges +€14,841
up €14,841 (+44.9%), from €33,020 to €47,861
- Other operating charges +€9,807
up €9,807 (+191%), from €5,123 to €14,929
- Gross operating margin +€9,057
up €9,057 (+16.6%), from €54,448 to €63,505
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 | €1,332,324 | €1,321,292 | -€11,032 | -0.8% |
| Fixed assets | 21/28 | €1,307,234 | €1,314,295 | +€7,061 | +0.5% |
| Tangible fixed assets | 22/27 | €1,307,234 | €1,314,295 | +€7,061 | +0.5% |
| Land and buildings | 22 | €1,307,234 | €1,314,295 | +€7,061 | +0.5% |
| Current assets | 29/58 | €25,089 | €6,997 | -€18,092 | -72.1% |
| Cash at bank and in hand | 54/58 | €21,082 | €2,541 | -€18,541 | -87.9% |
| Deferred charges and accrued income | 490/1 | €4,008 | €4,457 | +€449 | +11.2% |
| Total equity and liabilities | 10/49 | €1,332,324 | €1,321,292 | -€11,032 | -0.8% |
| Equity | 10/15 | -€86,214 | -€150,678 | -€64,464 | -74.8% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€105,214 | -€169,678 | -€64,464 | -61.3% |
| Amounts payable | 17/49 | €1,418,538 | €1,471,970 | +€53,432 | +3.8% |
| Amounts payable after more than one year | 17 | €1,144,371 | €1,117,832 | -€26,540 | -2.3% |
| Financial debts | 170/4 | €1,121,551 | €1,094,312 | -€27,240 | -2.4% |
| Other amounts payable | 178/9 | €22,820 | €23,520 | +€700 | +3.1% |
| Amounts payable within one year | 42/48 | €273,516 | €354,138 | +€80,622 | +29.5% |
| Current portion of amounts payable after more than one year | 42 | €39,802 | €67,240 | +€27,438 | +68.9% |
| Trade debts | 44 | €10,894 | €12,070 | +€1,176 | +10.8% |
| Suppliers | 440/4 | €10,894 | €12,070 | +€1,176 | +10.8% |
| Other amounts payable | 47/48 | €222,821 | €274,828 | +€52,007 | +23.3% |
| Accrued charges and deferred income | 492/3 | €650 | - | -€650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,738 | €65,179 | +€23,441 | +56.2% |
| Other operating charges | 640/8 | €5,123 | €14,929 | +€9,807 | +191% |
| Gross operating margin | 9900 | €54,448 | €63,505 | +€9,057 | +16.6% |
| Operating profit (loss) | 9901 | €7,587 | -€16,603 | -€24,190 | |
| Financial income | 75/76B | €4 | €0 | -€4 | -96.9% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -96.9% |
| Financial charges | 65/66B | €33,020 | €47,861 | +€14,841 | +44.9% |
| Recurring financial charges | 65 | €33,020 | €47,861 | +€14,841 | +44.9% |
| Profit (loss) for the period before taxes | 9903 | -€25,429 | -€64,464 | -€39,035 | -154% |
| Profit (loss) for the period | 9904 | -€25,429 | -€64,464 | -€39,035 | -154% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,429 | -€64,464 | -€39,035 | -154% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.