KESIN: 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.
KESIN
Largest movements
- Tangible fixed assets -€47,842
down €47,842 (-4.1%), from €1.2m to €1.1m
- Cash +€14,578
up €14,578 (+101%), from €14,372 to €28,950
mainly Depreciation (+€47,842) and Accrued charges and deferred income (+€7,936)
- Debts after one year -€47,842
down €47,842 (-4.6%), from €1.0m to €982,221
of which Financial debts: -€47,842
- Gross operating margin -€50,707
down €50,707 (-25.4%), from €199,716 to €149,009
- Financial charges -€43,393
down €43,393 (-34.5%), from €125,783 to €82,390
- Taxes -€2,065
down €2,065 (-47.1%), from €4,386 to €2,321
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 | €1,316,744 | €1,282,314 | -€34,430 | -2.6% |
| Fixed assets | 21/28 | €1,181,178 | €1,133,336 | -€47,842 | -4.1% |
| Tangible fixed assets | 22/27 | €1,181,178 | €1,133,336 | -€47,842 | -4.1% |
| Land and buildings | 22 | €1,181,178 | €1,133,336 | -€47,842 | -4.1% |
| Current assets | 29/58 | €135,566 | €148,979 | +€13,412 | +9.9% |
| Amounts receivable within one year | 40/41 | €1,194 | €29 | -€1,165 | -97.6% |
| Other amounts receivable | 41 | €1,194 | €29 | -€1,165 | -97.6% |
| Current investments | 50/53 | €120,000 | €120,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,372 | €28,950 | +€14,578 | +101% |
| Total equity and liabilities | 10/49 | €1,316,744 | €1,282,314 | -€34,430 | -2.6% |
| Equity | 10/15 | €152,376 | €159,340 | +€6,964 | +4.6% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €90,403 | €97,367 | +€6,964 | +7.7% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €84,205 | €91,169 | +€6,964 | +8.3% |
| Amounts payable | 17/49 | €1,164,368 | €1,122,974 | -€41,394 | -3.6% |
| Amounts payable after more than one year | 17 | €1,030,063 | €982,221 | -€47,842 | -4.6% |
| Financial debts | 170/4 | €1,015,100 | €967,257 | -€47,842 | -4.7% |
| Other amounts payable | 178/9 | €14,963 | €14,963 | = | 0.0% |
| Amounts payable within one year | 42/48 | €134,305 | €132,817 | -€1,488 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €109,162 | €108,031 | -€1,131 | -1.0% |
| Trade debts | 44 | €0 | €128 | +€128 | |
| Suppliers | 440/4 | €0 | €128 | +€128 | |
| Taxes, remuneration and social security | 45 | €25,142 | €24,658 | -€485 | -1.9% |
| Taxes | 450/3 | €25,142 | €24,658 | -€485 | -1.9% |
| Accrued charges and deferred income | 492/3 | - | €7,936 | +€7,936 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,842 | €47,842 | = | 0.0% |
| Other operating charges | 640/8 | €10,481 | €10,658 | +€178 | +1.7% |
| Gross operating margin | 9900 | €199,716 | €149,009 | -€50,707 | -25.4% |
| Operating profit (loss) | 9901 | €141,393 | €90,508 | -€50,885 | -36.0% |
| Financial income | 75/76B | €1,934 | €1,167 | -€767 | -39.6% |
| Recurring financial income | 75 | €1,934 | €1,167 | -€767 | -39.6% |
| Financial charges | 65/66B | €125,783 | €82,390 | -€43,393 | -34.5% |
| Recurring financial charges | 65 | €125,783 | €82,390 | -€43,393 | -34.5% |
| Profit (loss) for the period before taxes | 9903 | €17,544 | €9,285 | -€8,259 | -47.1% |
| Income taxes | 67/77 | €4,386 | €2,321 | -€2,065 | -47.1% |
| Profit (loss) for the period | 9904 | €13,158 | €6,964 | -€6,194 | -47.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,158 | €6,964 | -€6,194 | -47.1% |
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 17 October 2026 via checked.be.