Kesselhof: 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.
Kesselhof
Largest movements
- Tangible fixed assets -€107,274
down €107,274 (-1.0%), from €10.5m to €10.4m
of which Land and buildings: -€109,784
- Profit (loss) carried forward -€366,201
down €366,201 (-52.7%), from -€695,141 to -€1.1m
- Other debts +€195,046
up €195,046 (+11.4%), from €1.7m to €1.9m
- Gross operating margin -€165,511
down €165,511 (-422%), from -€39,221 to -€204,732
- Depreciation +€148,775
up €148,775 (+3,223%), from €4,615 to €153,390
- Other operating charges -€7,492
down €7,492 (-58.8%), from €12,739 to €5,247
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 | €10,517,209 | €10,409,034 | -€108,175 | -1.0% |
| Formation expenses | 20 | €2,373 | €1,392 | -€981 | -41.3% |
| Fixed assets | 21/28 | €10,513,732 | €10,406,458 | -€107,274 | -1.0% |
| Tangible fixed assets | 22/27 | €10,513,732 | €10,406,458 | -€107,274 | -1.0% |
| Land and buildings | 22 | €10,508,008 | €10,398,224 | -€109,784 | -1.0% |
| Plant, machinery and equipment | 23 | €5,723 | €8,234 | +€2,510 | +43.9% |
| Current assets | 29/58 | €1,105 | €1,184 | +€79 | +7.2% |
| Cash at bank and in hand | 54/58 | €1,105 | €1,184 | +€79 | +7.2% |
| Total equity and liabilities | 10/49 | €10,517,209 | €10,409,034 | -€108,175 | -1.0% |
| Equity | 10/15 | €8,804,859 | €8,438,658 | -€366,201 | -4.2% |
| Contributions | 10/11 | €9,500,000 | €9,500,000 | = | 0.0% |
| Capital | 10 | €9,500,000 | €9,500,000 | = | 0.0% |
| Issued capital | 100 | €9,500,000 | €9,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€695,141 | -€1,061,342 | -€366,201 | -52.7% |
| Amounts payable | 17/49 | €1,712,350 | €1,970,376 | +€258,026 | +15.1% |
| Amounts payable within one year | 42/48 | €1,712,350 | €1,970,376 | +€258,026 | +15.1% |
| Trade debts | 44 | €1,496 | €66,836 | +€65,341 | +4,369% |
| Suppliers | 440/4 | €1,496 | €66,836 | +€65,341 | +4,369% |
| Taxes, remuneration and social security | 45 | €2,360 | - | -€2,360 | |
| Taxes | 450/3 | €2,360 | - | -€2,360 | |
| Other amounts payable | 47/48 | €1,708,494 | €1,903,540 | +€195,046 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,615 | €153,390 | +€148,775 | +3,223% |
| Other operating charges | 640/8 | €12,739 | €5,247 | -€7,492 | -58.8% |
| Gross operating margin | 9900 | -€39,221 | -€204,732 | -€165,511 | -422% |
| Operating profit (loss) | 9901 | -€56,576 | -€363,369 | -€306,793 | -542% |
| Financial charges | 65/66B | €1,758 | €2,832 | +€1,074 | +61.1% |
| Recurring financial charges | 65 | €1,758 | €2,832 | +€1,074 | +61.1% |
| Profit (loss) for the period before taxes | 9903 | -€58,334 | -€366,201 | -€307,867 | -528% |
| Profit (loss) for the period | 9904 | -€58,334 | -€366,201 | -€307,867 | -528% |
| Profit (loss) for the period to be appropriated | 9905 | -€58,334 | -€366,201 | -€307,867 | -528% |
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 26 October 2026 via checked.be.