KESAN: 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.
KESAN
Largest movements
- Receivables within one year -€34,030
down €34,030 (-35.1%), from €96,868 to €62,837
of which Trade receivables: -€42,278
- Cash -€30,904
down €30,904 (-64.3%), from €48,045 to €17,141
mainly Net result for the year (-€67,216) and Accrued charges and deferred income (-€18,786)
- Tangible fixed assets -€20,478
down €20,478 (-22.6%), from €90,561 to €70,083
of which Other tangible fixed assets: -€14,600
- Profit (loss) carried forward -€67,216
down €67,216 (-59.5%), from €112,898 to €45,681
- Accrued charges and deferred income -€18,786
down €18,786 (-55.6%), from €33,786 to €15,000
- Tax, wage and social debts +€2,484
up €2,484 (+21.2%), from €11,692 to €14,176
of which Taxes: +€6,742
- Gross operating margin -€199,758
down €199,758 (-69.5%), from €287,627 to €87,869
- Staff costs -€66,433
down €66,433 (-37.3%), from €178,141 to €111,707
- Other operating charges -€44,755
down €44,755 (-76.9%), from €58,163 to €13,407
- Financial charges -€10,769
down €10,769 (-50.9%), from €21,171 to €10,402
- Depreciation -€5,859
down €5,859 (-22.2%), from €26,337 to €20,478
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 | €238,922 | €152,865 | -€86,057 | -36.0% |
| Fixed assets | 21/28 | €92,732 | €72,254 | -€20,478 | -22.1% |
| Tangible fixed assets | 22/27 | €90,561 | €70,083 | -€20,478 | -22.6% |
| Furniture and vehicles | 24 | €20,110 | €14,232 | -€5,878 | -29.2% |
| Other tangible fixed assets | 26 | €70,451 | €55,852 | -€14,600 | -20.7% |
| Financial fixed assets | 28 | €2,170 | €2,170 | = | 0.0% |
| Current assets | 29/58 | €146,190 | €80,612 | -€65,579 | -44.9% |
| Amounts receivable within one year | 40/41 | €96,868 | €62,837 | -€34,030 | -35.1% |
| Trade receivables | 40 | €67,921 | €25,643 | -€42,278 | -62.2% |
| Other amounts receivable | 41 | €28,947 | €37,195 | +€8,247 | +28.5% |
| Cash at bank and in hand | 54/58 | €48,045 | €17,141 | -€30,904 | -64.3% |
| Deferred charges and accrued income | 490/1 | €1,278 | €634 | -€644 | -50.4% |
| Total equity and liabilities | 10/49 | €238,922 | €152,865 | -€86,057 | -36.0% |
| Equity | 10/15 | €131,498 | €64,281 | -€67,216 | -51.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,898 | €45,681 | -€67,216 | -59.5% |
| Amounts payable | 17/49 | €107,424 | €88,584 | -€18,841 | -17.5% |
| Amounts payable within one year | 42/48 | €73,639 | €73,584 | -€55 | -0.1% |
| Trade debts | 44 | €39,587 | €37,362 | -€2,225 | -5.6% |
| Suppliers | 440/4 | €23,287 | €21,062 | -€2,225 | -9.6% |
| Bills of exchange payable | 441 | €16,300 | €16,300 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €11,692 | €14,176 | +€2,484 | +21.2% |
| Taxes | 450/3 | €18 | €6,760 | +€6,742 | +36,682% |
| Remuneration and social security | 454/9 | €11,674 | €7,416 | -€4,258 | -36.5% |
| Other amounts payable | 47/48 | €22,360 | €22,045 | -€314 | -1.4% |
| Accrued charges and deferred income | 492/3 | €33,786 | €15,000 | -€18,786 | -55.6% |
| Non-recurring operating income | 76A | €213 | €0 | -€213 | -100% |
| Remuneration, social security and pensions | 62 | €178,141 | €111,707 | -€66,433 | -37.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,337 | €20,478 | -€5,859 | -22.2% |
| Other operating charges | 640/8 | €58,163 | €13,407 | -€44,755 | -76.9% |
| Gross operating margin | 9900 | €287,627 | €87,869 | -€199,758 | -69.5% |
| Operating profit (loss) | 9901 | €24,987 | -€57,724 | -€82,711 | |
| Financial income | 75/76B | €2,803 | €554 | -€2,249 | -80.2% |
| Recurring financial income | 75 | €2,803 | €554 | -€2,249 | -80.2% |
| Financial charges | 65/66B | €21,171 | €10,402 | -€10,769 | -50.9% |
| Recurring financial charges | 65 | €21,171 | €10,402 | -€10,769 | -50.9% |
| Profit (loss) for the period before taxes | 9903 | €6,619 | -€67,572 | -€74,191 | |
| Income taxes | 67/77 | €2,318 | -€355 | -€2,674 | |
| Profit (loss) for the period | 9904 | €4,301 | -€67,216 | -€71,517 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,301 | -€67,216 | -€71,517 |
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 20 October 2026 via checked.be.