KASHKAN: 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.
KASHKAN
Largest movements
- Tangible fixed assets -€31,117
down €31,117 (-31.9%), from €97,588 to €66,471
- Cash +€20,633
up €20,633 (+103.0%), from €20,026 to €40,659
mainly Investment in fixed assets (net) (+€31,117) and Receivables within one year (+€4,016)
- Receivables within one year -€4,016
down €4,016 (-16.1%), from €24,983 to €20,968
of which Trade receivables: -€10,524
- Debts after one year -€19,373
down €19,373 (-70.5%), from €27,463 to €8,090
- Other debts +€3,938
new in 2025: €3,938
- Staff costs +€47,825
new in 2025: €47,825
- Purchases and services -€45,823
down €45,823 (-22.7%), from €201,864 to €156,041
- Turnover -€33,743
down €33,743 (-14.6%), from €230,806 to €197,063
- Depreciation -€27,143
no longer reported in 2025 (was €27,143)
- Gross operating margin +€17,008
up €17,008 (+52.8%), from €32,212 to €49,220
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 | €142,597 | €128,098 | -€14,499 | -10.2% |
| Fixed assets | 21/28 | €97,588 | €66,471 | -€31,117 | -31.9% |
| Tangible fixed assets | 22/27 | €97,588 | €66,471 | -€31,117 | -31.9% |
| Furniture and vehicles | 24 | €97,588 | €66,471 | -€31,117 | -31.9% |
| Current assets | 29/58 | €45,009 | €61,627 | +€16,618 | +36.9% |
| Amounts receivable within one year | 40/41 | €24,983 | €20,968 | -€4,016 | -16.1% |
| Trade receivables | 40 | €10,842 | €318 | -€10,524 | -97.1% |
| Other amounts receivable | 41 | €14,141 | €20,650 | +€6,509 | +46.0% |
| Cash at bank and in hand | 54/58 | €20,026 | €40,659 | +€20,633 | +103.0% |
| Total equity and liabilities | 10/49 | €142,597 | €128,098 | -€14,499 | -10.2% |
| Equity | 10/15 | €62,634 | €63,570 | +€936 | +1.5% |
| Contributions | 10/11 | €9,197 | €9,197 | = | 0.0% |
| Reserves | 13 | €303 | €303 | = | 0.0% |
| Non-distributable reserves | 130/1 | €303 | €303 | = | 0.0% |
| Reserves not available under the articles | 1311 | €303 | €303 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,134 | €54,070 | +€936 | +1.8% |
| Amounts payable | 17/49 | €79,963 | €64,528 | -€15,435 | -19.3% |
| Amounts payable after more than one year | 17 | €27,463 | €8,090 | -€19,373 | -70.5% |
| Financial debts | 170/4 | €27,463 | €8,090 | -€19,373 | -70.5% |
| Amounts payable within one year | 42/48 | €52,500 | €56,438 | +€3,938 | +7.5% |
| Trade debts | 44 | €52,500 | €52,499 | -€1 | 0.0% |
| Suppliers | 440/4 | €52,500 | €52,499 | -€1 | 0.0% |
| Other amounts payable | 47/48 | - | €3,938 | +€3,938 | |
| Turnover | 70 | €230,806 | €197,063 | -€33,743 | -14.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €201,864 | €156,041 | -€45,823 | -22.7% |
| Remuneration, social security and pensions | 62 | - | €47,825 | +€47,825 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,143 | - | -€27,143 | |
| Other operating charges | 640/8 | €510 | €184 | -€326 | -63.9% |
| Gross operating margin | 9900 | €32,212 | €49,220 | +€17,008 | +52.8% |
| Operating profit (loss) | 9901 | €4,559 | €1,211 | -€3,349 | -73.4% |
| Financial charges | 65/66B | €1,236 | €275 | -€961 | -77.8% |
| Recurring financial charges | 65 | €1,236 | €275 | -€961 | -77.8% |
| Profit (loss) for the period before taxes | 9903 | €3,323 | €936 | -€2,387 | -71.8% |
| Income taxes | 67/77 | €41 | - | -€41 | |
| Profit (loss) for the period | 9904 | €3,282 | €936 | -€2,346 | -71.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,282 | €936 | -€2,346 | -71.5% |
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 5 October 2026 via checked.be.