KESSELNOVA: what changed
Two fiscal 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.
KESSELNOVA
Largest movements
- Receivables after one year +€160,000
up €160,000 (+307.7%), from €52,000 to €212,000
- Tangible fixed assets -€81,142
down €81,142 (-15.6%), from €521,314 to €440,172
of which Other tangible fixed assets: -€57,610
- Stocks and contracts +€73,873
up €73,873 (+63.8%), from €115,840 to €189,713
- Cash -€61,443
down €61,443 (-56.6%), from €108,502 to €47,060
mainly Receivables after one year (-€160,000) and Stocks and contracts (-€73,873)
- Receivables within one year -€33,668
down €33,668 (-49.6%), from €67,859 to €34,190
of which Trade receivables: -€17,649
- Debts after one year -€69,911
down €69,911 (-18.6%), from €375,009 to €305,098
- Trade debts +€53,293
up €53,293 (+17.5%), from €305,142 to €358,435
- Profit (loss) carried forward +€52,393
up €52,393 (+596.0%), from €8,791 to €61,184
- Tax, wage and social debts +€20,853
up €20,853 (+47.6%), from €43,844 to €64,697
of which Taxes: +€15,256
- Gross operating margin +€84,225
up €84,225 (+24.1%), from €349,295 to €433,519
- Staff costs +€22,147
up €22,147 (+9.9%), from €224,042 to €246,188
- Taxes +€15,256
up €15,256 (+889.0%), from €1,716 to €16,972
- Depreciation +€11,161
up €11,161 (+13.3%), from €84,054 to €95,215
- Financial charges -€10,913
down €10,913 (-34.7%), from €31,406 to €20,493
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.
Cash bridge derived
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 | €876,974 | €931,325 | +€54,350 | +6.2% |
| Fixed assets | 21/28 | €522,017 | €440,687 | -€81,330 | -15.6% |
| Intangible fixed assets | 21 | €703 | €515 | -€188 | -26.8% |
| Tangible fixed assets | 22/27 | €521,314 | €440,172 | -€81,142 | -15.6% |
| Plant, machinery and equipment | 23 | €31,648 | €27,869 | -€3,778 | -11.9% |
| Furniture and vehicles | 24 | €95,606 | €75,853 | -€19,753 | -20.7% |
| Other tangible fixed assets | 26 | €394,060 | €336,449 | -€57,610 | -14.6% |
| Current assets | 29/58 | €354,958 | €490,638 | +€135,680 | +38.2% |
| Amounts receivable after more than one year | 29 | €52,000 | €212,000 | +€160,000 | +307.7% |
| Other amounts receivable | 291 | €52,000 | €212,000 | +€160,000 | +307.7% |
| Stocks and contracts in progress | 3 | €115,840 | €189,713 | +€73,873 | +63.8% |
| Stocks | 30/36 | €115,840 | €189,713 | +€73,873 | +63.8% |
| Amounts receivable within one year | 40/41 | €67,859 | €34,190 | -€33,668 | -49.6% |
| Trade receivables | 40 | €17,649 | - | -€17,649 | |
| Other amounts receivable | 41 | €50,210 | €34,190 | -€16,020 | -31.9% |
| Cash at bank and in hand | 54/58 | €108,502 | €47,060 | -€61,443 | -56.6% |
| Deferred charges and accrued income | 490/1 | €10,757 | €7,675 | -€3,082 | -28.6% |
| Total equity and liabilities | 10/49 | €876,974 | €931,325 | +€54,350 | +6.2% |
| Equity | 10/15 | €80,791 | €133,184 | +€52,393 | +64.9% |
| Contributions | 10/11 | €72,000 | €72,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,791 | €61,184 | +€52,393 | +596.0% |
| Amounts payable | 17/49 | €796,184 | €798,141 | +€1,957 | +0.2% |
| Amounts payable after more than one year | 17 | €375,009 | €305,098 | -€69,911 | -18.6% |
| Financial debts | 170/4 | €375,009 | €305,098 | -€69,911 | -18.6% |
| Amounts payable within one year | 42/48 | €421,175 | €493,043 | +€71,869 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €67,003 | €69,911 | +€2,908 | +4.3% |
| Trade debts | 44 | €305,142 | €358,435 | +€53,293 | +17.5% |
| Suppliers | 440/4 | €305,142 | €358,435 | +€53,293 | +17.5% |
| Taxes, remuneration and social security | 45 | €43,844 | €64,697 | +€20,853 | +47.6% |
| Taxes | 450/3 | €1,716 | €16,972 | +€15,256 | +889.0% |
| Remuneration and social security | 454/9 | €42,128 | €47,725 | +€5,597 | +13.3% |
| Other amounts payable | 47/48 | €5,185 | - | -€5,185 | |
| Remuneration, social security and pensions | 62 | €224,042 | €246,188 | +€22,147 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,054 | €95,215 | +€11,161 | +13.3% |
| Other operating charges | 640/8 | €2,932 | €5,785 | +€2,853 | +97.3% |
| Gross operating margin | 9900 | €349,295 | €433,519 | +€84,225 | +24.1% |
| Operating profit (loss) | 9901 | €38,267 | €86,331 | +€48,064 | +125.6% |
| Financial income | 75/76B | €3,646 | €3,527 | -€119 | -3.3% |
| Recurring financial income | 75 | €3,646 | €3,527 | -€119 | -3.3% |
| Financial charges | 65/66B | €31,406 | €20,493 | -€10,913 | -34.7% |
| Recurring financial charges | 65 | €31,406 | €20,493 | -€10,913 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €10,507 | €69,365 | +€58,858 | +560.2% |
| Income taxes | 67/77 | €1,716 | €16,972 | +€15,256 | +889.0% |
| Profit (loss) for the period | 9904 | €8,791 | €52,393 | +€43,602 | +496.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,791 | €52,393 | +€43,602 | +496.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.