KASTELET: 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.
KASTELET
Largest movements
- Tangible fixed assets -€196,478
down €196,478 (-3.5%), from €5.7m to €5.5m
of which Land and buildings: -€177,891
- Cash +€83,421
up €83,421 (+31.3%), from €266,862 to €350,283
mainly Depreciation (+€380,667) and Debts after one year (+€22,070)
- Profit (loss) carried forward -€87,122
down €87,122 (-12.4%), from -€704,111 to -€791,233
- Financial income +€69,017
up €69,017 (+7720.0%), from €894 to €69,911
- Gross operating margin +€66,128
up €66,128 (+24.8%), from €266,785 to €332,913
- Depreciation +€12,674
up €12,674 (+3.4%), from €367,993 to €380,667
- Financial charges -€12,135
down €12,135 (-17.6%), from €69,049 to €56,914
- Other operating charges +€4,401
up €4,401 (+5.1%), from €86,877 to €91,278
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 | €7,204,981 | €7,096,862 | -€108,119 | -1.5% |
| Fixed assets | 21/28 | €6,895,796 | €6,699,318 | -€196,478 | -2.8% |
| Tangible fixed assets | 22/27 | €5,656,327 | €5,459,849 | -€196,478 | -3.5% |
| Land and buildings | 22 | €5,605,622 | €5,427,731 | -€177,891 | -3.2% |
| Plant, machinery and equipment | 23 | €50,705 | €32,118 | -€18,587 | -36.7% |
| Financial fixed assets | 28 | €1,239,469 | €1,239,469 | = | 0.0% |
| Current assets | 29/58 | €309,185 | €397,544 | +€88,359 | +28.6% |
| Amounts receivable after more than one year | 29 | €42,323 | €45,827 | +€3,504 | +8.3% |
| Trade receivables | 290 | €2,323 | €5,827 | +€3,504 | +150.8% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €266,862 | €350,283 | +€83,421 | +31.3% |
| Deferred charges and accrued income | 490/1 | - | €1,434 | +€1,434 | |
| Total equity and liabilities | 10/49 | €7,204,981 | €7,096,862 | -€108,119 | -1.5% |
| Equity | 10/15 | €1,846,018 | €1,745,406 | -€100,612 | -5.5% |
| Contributions | 10/11 | €1,855,000 | €1,855,000 | = | 0.0% |
| Capital | 10 | €1,855,000 | €1,855,000 | = | 0.0% |
| Issued capital | 100 | €1,855,000 | €1,855,000 | = | 0.0% |
| Reserves | 13 | €695,129 | €681,639 | -€13,490 | -1.9% |
| Non-distributable reserves | 130/1 | €19,752 | €19,752 | = | 0.0% |
| Legal reserve | 130 | €19,752 | €19,752 | = | 0.0% |
| Tax-exempt reserves | 132 | €483,968 | €407,692 | -€76,276 | -15.8% |
| Distributable reserves | 133 | €191,409 | €254,195 | +€62,786 | +32.8% |
| Profit (loss) carried forward | 14 | -€704,111 | -€791,233 | -€87,122 | -12.4% |
| Provisions and deferred taxes | 16 | €161,322 | €135,897 | -€25,425 | -15.8% |
| Deferred taxes | 168 | €161,322 | €135,897 | -€25,425 | -15.8% |
| Amounts payable | 17/49 | €5,197,641 | €5,215,559 | +€17,918 | +0.3% |
| Amounts payable after more than one year | 17 | €5,187,270 | €5,209,340 | +€22,070 | +0.4% |
| Financial debts | 170/4 | €5,187,270 | €5,209,340 | +€22,070 | +0.4% |
| Amounts payable within one year | 42/48 | €5,999 | €6,219 | +€220 | +3.7% |
| Trade debts | 44 | €5,999 | €6,219 | +€220 | +3.7% |
| Suppliers | 440/4 | €5,999 | €6,219 | +€220 | +3.7% |
| Accrued charges and deferred income | 492/3 | €4,372 | - | -€4,372 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €367,993 | €380,667 | +€12,674 | +3.4% |
| Other operating charges | 640/8 | €86,877 | €91,278 | +€4,401 | +5.1% |
| Gross operating margin | 9900 | €266,785 | €332,913 | +€66,128 | +24.8% |
| Operating profit (loss) | 9901 | -€188,085 | -€139,032 | +€49,053 | +26.1% |
| Financial income | 75/76B | €894 | €69,911 | +€69,017 | +7720.0% |
| Recurring financial income | 75 | €894 | €69,911 | +€69,017 | +7720.0% |
| Financial charges | 65/66B | €69,049 | €56,914 | -€12,135 | -17.6% |
| Recurring financial charges | 65 | €69,049 | €56,914 | -€12,135 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | -€256,240 | -€126,035 | +€130,205 | +50.8% |
| Transfer from deferred taxes | 780 | €7,209 | €12,885 | +€5,676 | +78.7% |
| Profit (loss) for the period | 9904 | -€249,031 | -€113,150 | +€135,881 | +54.6% |
| Transfer from tax-exempt reserves | 789 | €2,403 | €38,656 | +€36,253 | +1508.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€246,628 | -€74,494 | +€172,134 | +69.8% |
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 4 October 2026 via checked.be.