KESAYI: 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.
KESAYI
Largest movements
- Tangible fixed assets -€13,616
down €13,616 (-39.3%), from €34,618 to €21,002
of which Plant, machinery and equipment: -€13,805
- Stocks and contracts +€12,660
up €12,660 (+175%), from €7,231 to €19,892
- Cash -€2,588
down €2,588 (-82.8%), from €3,124 to €536
mainly Other debts (-€20,132) and Stocks and contracts (-€12,660)
- Current investments +€2,109
new in 2025: €2,109
- Receivables within one year -€1,228
down €1,228 (-84.9%), from €1,447 to €219
of which Trade receivables: -€874
- Other debts -€20,132
down €20,132 (-84.3%), from €23,889 to €3,757
- Tax, wage and social debts +€16,080
up €16,080 (+60.4%), from €26,624 to €42,704
of which Remuneration and social security: +€13,997
- Profit (loss) carried forward +€10,094
up €10,094 (+19.4%), from -€52,121 to -€42,027
- Trade debts -€8,281
down €8,281 (-22.6%), from €36,655 to €28,375
- Staff costs +€43,340
up €43,340 (+81.8%), from €52,992 to €96,331
- Gross operating margin +€42,094
up €42,094 (+49.3%), from €85,366 to €127,459
- Other operating charges -€4,438
down €4,438 (-69.3%), from €6,407 to €1,968
- Depreciation +€2,212
up €2,212 (+15.9%), from €13,951 to €16,164
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 | €53,647 | €51,408 | -€2,239 | -4.2% |
| Fixed assets | 21/28 | €41,700 | €28,084 | -€13,616 | -32.7% |
| Tangible fixed assets | 22/27 | €34,618 | €21,002 | -€13,616 | -39.3% |
| Plant, machinery and equipment | 23 | €34,367 | €20,562 | -€13,805 | -40.2% |
| Furniture and vehicles | 24 | €251 | €440 | +€189 | +75.4% |
| Financial fixed assets | 28 | €7,082 | €7,082 | = | 0.0% |
| Current assets | 29/58 | €11,948 | €23,325 | +€11,377 | +95.2% |
| Stocks and contracts in progress | 3 | €7,231 | €19,892 | +€12,660 | +175% |
| Stocks | 30/36 | €7,231 | €19,892 | +€12,660 | +175% |
| Amounts receivable within one year | 40/41 | €1,447 | €219 | -€1,228 | -84.9% |
| Trade receivables | 40 | €874 | - | -€874 | |
| Other amounts receivable | 41 | €573 | €219 | -€354 | -61.7% |
| Current investments | 50/53 | - | €2,109 | +€2,109 | |
| Cash at bank and in hand | 54/58 | €3,124 | €536 | -€2,588 | -82.8% |
| Deferred charges and accrued income | 490/1 | €146 | €568 | +€423 | +291% |
| Total equity and liabilities | 10/49 | €53,647 | €51,408 | -€2,239 | -4.2% |
| Equity | 10/15 | -€33,521 | -€23,427 | +€10,094 | +30.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,121 | -€42,027 | +€10,094 | +19.4% |
| Amounts payable | 17/49 | €87,169 | €74,836 | -€12,333 | -14.1% |
| Amounts payable within one year | 42/48 | €87,169 | €74,836 | -€12,333 | -14.1% |
| Trade debts | 44 | €36,655 | €28,375 | -€8,281 | -22.6% |
| Suppliers | 440/4 | €36,655 | €28,375 | -€8,281 | -22.6% |
| Taxes, remuneration and social security | 45 | €26,624 | €42,704 | +€16,080 | +60.4% |
| Taxes | 450/3 | €9,593 | €11,676 | +€2,083 | +21.7% |
| Remuneration and social security | 454/9 | €17,031 | €31,028 | +€13,997 | +82.2% |
| Other amounts payable | 47/48 | €23,889 | €3,757 | -€20,132 | -84.3% |
| Remuneration, social security and pensions | 62 | €52,992 | €96,331 | +€43,340 | +81.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,951 | €16,164 | +€2,212 | +15.9% |
| Other operating charges | 640/8 | €6,407 | €1,968 | -€4,438 | -69.3% |
| Gross operating margin | 9900 | €85,366 | €127,459 | +€42,094 | +49.3% |
| Operating profit (loss) | 9901 | €12,016 | €12,996 | +€980 | +8.2% |
| Financial income | 75/76B | - | €718 | +€718 | |
| Recurring financial income | 75 | - | €206 | +€206 | |
| Non-recurring financial income | 76B | - | €512 | +€512 | |
| Financial charges | 65/66B | €2,969 | €3,479 | +€510 | +17.2% |
| Recurring financial charges | 65 | €2,969 | €3,479 | +€510 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €9,047 | €10,235 | +€1,188 | +13.1% |
| Income taxes | 67/77 | €338 | €141 | -€197 | -58.3% |
| Profit (loss) for the period | 9904 | €8,709 | €10,094 | +€1,385 | +15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,709 | €10,094 | +€1,385 | +15.9% |
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.