KAST: 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.
KAST
Largest movements
- Tangible fixed assets -€25,177
down €25,177 (-35.9%), from €70,222 to €45,045
of which Plant, machinery and equipment: -€13,041
- Receivables within one year -€12,846
down €12,846 (-23.7%), from €54,314 to €41,468
of which Trade receivables: -€9,819
- Stocks and contracts +€12,748
up €12,748 (+61.0%), from €20,889 to €33,637
of which Contracts in progress: +€8,658
- Cash +€10,598
up €10,598 (+13.6%), from €78,186 to €88,784
mainly Depreciation (+€25,177) and Tax, wage and social debts (+€20,426)
- Deferred charges and accrued income +€3,833
new in 2025: €3,833
- Debts after one year -€34,048
down €34,048 (-42.7%), from €79,720 to €45,672
- Tax, wage and social debts +€20,426
up €20,426 (+80.3%), from €25,425 to €45,852
of which Remuneration and social security: +€18,920
- Advances received +€17,454
up €17,454 (+68.9%), from €25,317 to €42,771
- Profit (loss) carried forward -€13,688
down €13,688 (-28.8%), from €47,605 to €33,918
- Short-term financial debts -€7,192
down €7,192 (-53.3%), from €13,485 to €6,292
- Gross operating margin -€116,934
down €116,934 (-35.3%), from €331,059 to €214,124
- Staff costs -€24,667
down €24,667 (-11.1%), from €221,850 to €197,183
- Taxes -€12,687
down €12,687 (-97.4%), from €13,028 to €341
- Depreciation -€9,963
down €9,963 (-28.4%), from €35,141 to €25,177
- Financial charges -€6,418
down €6,418 (-53.7%), from €11,944 to €5,526
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 | €231,766 | €220,922 | -€10,844 | -4.7% |
| Fixed assets | 21/28 | €78,377 | €53,200 | -€25,177 | -32.1% |
| Tangible fixed assets | 22/27 | €70,222 | €45,045 | -€25,177 | -35.9% |
| Plant, machinery and equipment | 23 | €45,315 | €32,274 | -€13,041 | -28.8% |
| Furniture and vehicles | 24 | €24,907 | €12,771 | -€12,136 | -48.7% |
| Financial fixed assets | 28 | €8,155 | €8,155 | = | 0.0% |
| Current assets | 29/58 | €153,389 | €167,722 | +€14,333 | +9.3% |
| Stocks and contracts in progress | 3 | €20,889 | €33,637 | +€12,748 | +61.0% |
| Stocks | 30/36 | €8,173 | €12,262 | +€4,090 | +50.0% |
| Contracts in progress | 37 | €12,716 | €21,374 | +€8,658 | +68.1% |
| Amounts receivable within one year | 40/41 | €54,314 | €41,468 | -€12,846 | -23.7% |
| Trade receivables | 40 | €51,287 | €41,468 | -€9,819 | -19.1% |
| Other amounts receivable | 41 | €3,028 | - | -€3,028 | |
| Cash at bank and in hand | 54/58 | €78,186 | €88,784 | +€10,598 | +13.6% |
| Deferred charges and accrued income | 490/1 | - | €3,833 | +€3,833 | |
| Total equity and liabilities | 10/49 | €231,766 | €220,922 | -€10,844 | -4.7% |
| Equity | 10/15 | €52,605 | €38,918 | -€13,688 | -26.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,605 | €33,918 | -€13,688 | -28.8% |
| Amounts payable | 17/49 | €179,161 | €182,004 | +€2,843 | +1.6% |
| Amounts payable after more than one year | 17 | €79,720 | €45,672 | -€34,048 | -42.7% |
| Financial debts | 170/4 | €79,720 | €45,672 | -€34,048 | -42.7% |
| Amounts payable within one year | 42/48 | €99,441 | €136,332 | +€36,891 | +37.1% |
| Current portion of amounts payable after more than one year | 42 | €26,360 | €27,755 | +€1,395 | +5.3% |
| Financial debts | 43 | €13,485 | €6,292 | -€7,192 | -53.3% |
| Credit institutions | 430/8 | €13,485 | €6,292 | -€7,192 | -53.3% |
| Trade debts | 44 | €8,855 | €13,662 | +€4,807 | +54.3% |
| Suppliers | 440/4 | €8,855 | €13,662 | +€4,807 | +54.3% |
| Advances received on contracts in progress | 46 | €25,317 | €42,771 | +€17,454 | +68.9% |
| Taxes, remuneration and social security | 45 | €25,425 | €45,852 | +€20,426 | +80.3% |
| Taxes | 450/3 | €13,390 | €14,896 | +€1,507 | +11.3% |
| Remuneration and social security | 454/9 | €12,036 | €30,955 | +€18,920 | +157% |
| Remuneration, social security and pensions | 62 | €221,850 | €197,183 | -€24,667 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,141 | €25,177 | -€9,963 | -28.4% |
| Other operating charges | 640/8 | €3,085 | €63 | -€3,021 | -97.9% |
| Gross operating margin | 9900 | €331,059 | €214,124 | -€116,934 | -35.3% |
| Operating profit (loss) | 9901 | €70,984 | -€8,299 | -€79,283 | |
| Financial income | 75/76B | €1,594 | €479 | -€1,115 | -69.9% |
| Recurring financial income | 75 | €1,594 | €479 | -€1,115 | -69.9% |
| Financial charges | 65/66B | €11,944 | €5,526 | -€6,418 | -53.7% |
| Recurring financial charges | 65 | €11,944 | €5,526 | -€6,418 | -53.7% |
| Profit (loss) for the period before taxes | 9903 | €60,634 | -€13,346 | -€73,980 | |
| Income taxes | 67/77 | €13,028 | €341 | -€12,687 | -97.4% |
| Profit (loss) for the period | 9904 | €47,605 | -€13,688 | -€61,293 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,605 | -€13,688 | -€61,293 |
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 13 October 2026 via checked.be.