KERSTENS: 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.
KERSTENS
Largest movements
- Receivables within one year +€81,487
up €81,487 (+4,231%), from €1,926 to €83,413
of which Trade receivables: +€80,810
- Cash -€68,483
down €68,483 (-32.6%), from €209,902 to €141,419
mainly Receivables within one year (-€81,487) and Investment in fixed assets (net) (-€2,854)
- Tangible fixed assets -€9,717
down €9,717 (-29.0%), from €33,494 to €23,777
of which Furniture and vehicles: -€10,203
- Reserves +€4,264
up €4,264 (+3.0%), from €141,228 to €145,492
of which Distributable reserves: +€4,264
- Gross operating margin -€5,993
down €5,993 (-24.8%), from €24,203 to €18,210
- Financial charges -€3,054
down €3,054 (-66.2%), from €4,617 to €1,563
- Financial income +€867
up €867 (+143%), from €606 to €1,473
- Depreciation +€642
up €642 (+5.4%), from €11,929 to €12,570
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 | €247,203 | €250,464 | +€3,261 | +1.3% |
| Fixed assets | 21/28 | €33,494 | €23,777 | -€9,717 | -29.0% |
| Tangible fixed assets | 22/27 | €33,494 | €23,777 | -€9,717 | -29.0% |
| Plant, machinery and equipment | 23 | €4,501 | €4,987 | +€487 | +10.8% |
| Furniture and vehicles | 24 | €28,993 | €18,790 | -€10,203 | -35.2% |
| Current assets | 29/58 | €213,709 | €226,687 | +€12,977 | +6.1% |
| Amounts receivable within one year | 40/41 | €1,926 | €83,413 | +€81,487 | +4,231% |
| Trade receivables | 40 | €0 | €80,810 | +€80,810 | |
| Other amounts receivable | 41 | €1,926 | €2,602 | +€677 | +35.1% |
| Cash at bank and in hand | 54/58 | €209,902 | €141,419 | -€68,483 | -32.6% |
| Deferred charges and accrued income | 490/1 | €1,882 | €1,855 | -€27 | -1.4% |
| Total equity and liabilities | 10/49 | €247,203 | €250,464 | +€3,261 | +1.3% |
| Equity | 10/15 | €168,428 | €172,692 | +€4,264 | +2.5% |
| Contributions | 10/11 | €47,000 | €47,000 | = | 0.0% |
| Reserves | 13 | €141,228 | €145,492 | +€4,264 | +3.0% |
| Non-distributable reserves | 130/1 | €4,700 | €4,700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,700 | €4,700 | = | 0.0% |
| Distributable reserves | 133 | €136,528 | €140,792 | +€4,264 | +3.1% |
| Profit (loss) carried forward | 14 | -€19,800 | -€19,800 | = | 0.0% |
| Amounts payable | 17/49 | €78,775 | €77,772 | -€1,003 | -1.3% |
| Amounts payable within one year | 42/48 | €78,775 | €77,772 | -€1,003 | -1.3% |
| Trade debts | 44 | €2,219 | €2,064 | -€154 | -6.9% |
| Suppliers | 440/4 | €2,219 | €2,064 | -€154 | -6.9% |
| Taxes, remuneration and social security | 45 | €1,513 | €428 | -€1,085 | -71.7% |
| Taxes | 450/3 | €1,357 | €428 | -€929 | -68.5% |
| Remuneration and social security | 454/9 | €156 | €0 | -€156 | -100% |
| Other amounts payable | 47/48 | €75,043 | €75,280 | +€236 | +0.3% |
| Non-recurring operating income | 76A | - | €12 | +€12 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,929 | €12,570 | +€642 | +5.4% |
| Other operating charges | 640/8 | €756 | €698 | -€58 | -7.7% |
| Gross operating margin | 9900 | €24,203 | €18,210 | -€5,993 | -24.8% |
| Operating profit (loss) | 9901 | €11,518 | €4,942 | -€6,577 | -57.1% |
| Financial income | 75/76B | €606 | €1,473 | +€867 | +143% |
| Recurring financial income | 75 | €606 | €1,473 | +€867 | +143% |
| Financial charges | 65/66B | €4,617 | €1,563 | -€3,054 | -66.2% |
| Recurring financial charges | 65 | €4,617 | €1,563 | -€3,054 | -66.2% |
| Profit (loss) for the period before taxes | 9903 | €7,508 | €4,852 | -€2,656 | -35.4% |
| Income taxes | 67/77 | €801 | €589 | -€212 | -26.5% |
| Profit (loss) for the period | 9904 | €6,707 | €4,264 | -€2,444 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,707 | €4,264 | -€2,444 | -36.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.