Kerstens Ellen: 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 Ellen
Largest movements
- Tangible fixed assets -€7,054
down €7,054 (-4.6%), from €152,676 to €145,622
- Cash -€3,411
down €3,411 (-79.2%), from €4,306 to €896
mainly Debts after one year (-€7,802) and Net result for the year (-€2,841)
- Debts after one year -€7,802
down €7,802 (-5.7%), from €137,269 to €129,467
- Profit (loss) carried forward -€2,841
down €2,841 (-119%), from -€2,393 to -€5,234
- Gross operating margin -€8,155
down €8,155 (-50.7%), from €16,072 to €7,917
- Other operating charges -€394
down €394 (-24.5%), from €1,604 to €1,210
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 | €157,104 | €146,641 | -€10,462 | -6.7% |
| Fixed assets | 21/28 | €152,676 | €145,622 | -€7,054 | -4.6% |
| Tangible fixed assets | 22/27 | €152,676 | €145,622 | -€7,054 | -4.6% |
| Land and buildings | 22 | €152,676 | €145,622 | -€7,054 | -4.6% |
| Current assets | 29/58 | €4,427 | €1,019 | -€3,408 | -77.0% |
| Cash at bank and in hand | 54/58 | €4,306 | €896 | -€3,411 | -79.2% |
| Deferred charges and accrued income | 490/1 | €121 | €124 | +€2 | +2.0% |
| Total equity and liabilities | 10/49 | €157,104 | €146,641 | -€10,462 | -6.7% |
| Equity | 10/15 | €12,215 | €9,374 | -€2,841 | -23.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €9,608 | €9,608 | = | 0.0% |
| Distributable reserves | 133 | €9,608 | €9,608 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,393 | -€5,234 | -€2,841 | -119% |
| Amounts payable | 17/49 | €144,889 | €137,267 | -€7,622 | -5.3% |
| Amounts payable after more than one year | 17 | €137,269 | €129,467 | -€7,802 | -5.7% |
| Financial debts | 170/4 | €137,269 | €129,467 | -€7,802 | -5.7% |
| Amounts payable within one year | 42/48 | €7,620 | €7,800 | +€180 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €7,620 | €7,800 | +€180 | +2.4% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,054 | €7,054 | = | 0.0% |
| Other operating charges | 640/8 | €1,604 | €1,210 | -€394 | -24.5% |
| Gross operating margin | 9900 | €16,072 | €7,917 | -€8,155 | -50.7% |
| Operating profit (loss) | 9901 | €7,414 | -€348 | -€7,761 | |
| Financial charges | 65/66B | €2,620 | €2,493 | -€127 | -4.8% |
| Recurring financial charges | 65 | €2,620 | €2,493 | -€127 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €4,794 | -€2,841 | -€7,635 | |
| Profit (loss) for the period | 9904 | €4,794 | -€2,841 | -€7,635 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,794 | -€2,841 | -€7,635 |
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 30 October 2026 via checked.be.