KESSEN: 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.
KESSEN
Largest movements
- Cash +€124,516
up €124,516 (+58.0%), from €214,821 to €339,337
mainly Net result for the year (+€114,226) and Depreciation (+€22,503)
- Tangible fixed assets +€5,459
up €5,459 (+10.6%), from €51,478 to €56,937
of which Plant, machinery and equipment: +€5,691
- Reserves +€114,226
up €114,226 (+43.6%), from €261,816 to €376,043
- Tax, wage and social debts +€8,822
up €8,822 (+25.2%), from €35,064 to €43,886
of which Taxes: +€10,200
- Short-term financial debts +€7,007
up €7,007 (+94.4%), from €7,419 to €14,426
- Gross operating margin +€67,881
up €67,881 (+21.2%), from €320,432 to €388,313
- Taxes +€17,434
up €17,434 (+57.9%), from €30,123 to €47,557
- Staff costs +€4,181
up €4,181 (+2.1%), from €196,414 to €200,595
- Financial income -€3,927
down €3,927 (-57.5%), from €6,827 to €2,900
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 | €346,478 | €474,539 | +€128,062 | +37.0% |
| Fixed assets | 21/28 | €51,478 | €56,937 | +€5,459 | +10.6% |
| Tangible fixed assets | 22/27 | €51,478 | €56,937 | +€5,459 | +10.6% |
| Plant, machinery and equipment | 23 | €31,852 | €37,543 | +€5,691 | +17.9% |
| Furniture and vehicles | 24 | €1,981 | €2,714 | +€733 | +37.0% |
| Other tangible fixed assets | 26 | €17,645 | €16,680 | -€966 | -5.5% |
| Current assets | 29/58 | €295,000 | €417,602 | +€122,603 | +41.6% |
| Stocks and contracts in progress | 3 | €1,422 | €0 | -€1,422 | -100.0% |
| Stocks | 30/36 | €1,422 | €0 | -€1,422 | -100.0% |
| Amounts receivable within one year | 40/41 | €71,930 | €73,277 | +€1,346 | +1.9% |
| Trade receivables | 40 | €1,973 | €112 | -€1,861 | -94.3% |
| Other amounts receivable | 41 | €69,957 | €73,164 | +€3,208 | +4.6% |
| Cash at bank and in hand | 54/58 | €214,821 | €339,337 | +€124,516 | +58.0% |
| Deferred charges and accrued income | 490/1 | €6,827 | €4,989 | -€1,838 | -26.9% |
| Total equity and liabilities | 10/49 | €346,478 | €474,539 | +€128,062 | +37.0% |
| Equity | 10/15 | €268,016 | €382,243 | +€114,226 | +42.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €261,816 | €376,043 | +€114,226 | +43.6% |
| Distributable reserves | 133 | €261,816 | €376,043 | +€114,226 | +43.6% |
| Amounts payable | 17/49 | €78,461 | €92,297 | +€13,835 | +17.6% |
| Amounts payable within one year | 42/48 | €78,461 | €92,297 | +€13,835 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €762 | €0 | -€762 | -100.0% |
| Financial debts | 43 | €7,419 | €14,426 | +€7,007 | +94.4% |
| Credit institutions | 430/8 | €7,419 | €14,426 | +€7,007 | +94.4% |
| Trade debts | 44 | €35,216 | €33,985 | -€1,231 | -3.5% |
| Suppliers | 440/4 | €35,216 | €33,985 | -€1,231 | -3.5% |
| Taxes, remuneration and social security | 45 | €35,064 | €43,886 | +€8,822 | +25.2% |
| Taxes | 450/3 | €14,955 | €25,155 | +€10,200 | +68.2% |
| Remuneration and social security | 454/9 | €20,109 | €18,731 | -€1,378 | -6.9% |
| Non-recurring operating income | 76A | €2,047 | €0 | -€2,047 | -100.0% |
| Remuneration, social security and pensions | 62 | €196,414 | €200,595 | +€4,181 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,403 | €22,503 | -€2,900 | -11.4% |
| Other operating charges | 640/8 | €1,444 | €1,258 | -€186 | -12.9% |
| Non-recurring operating charges | 66A | - | €3,125 | +€3,125 | |
| Gross operating margin | 9900 | €320,432 | €388,313 | +€67,881 | +21.2% |
| Operating profit (loss) | 9901 | €97,171 | €160,832 | +€63,661 | +65.5% |
| Financial income | 75/76B | €6,827 | €2,900 | -€3,927 | -57.5% |
| Recurring financial income | 75 | €6,827 | €2,900 | -€3,927 | -57.5% |
| Financial charges | 65/66B | €1,088 | €1,949 | +€861 | +79.1% |
| Recurring financial charges | 65 | €1,088 | €1,949 | +€861 | +79.1% |
| Profit (loss) for the period before taxes | 9903 | €102,910 | €161,783 | +€58,873 | +57.2% |
| Income taxes | 67/77 | €30,123 | €47,557 | +€17,434 | +57.9% |
| Profit (loss) for the period | 9904 | €72,787 | €114,226 | +€41,439 | +56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €72,787 | €114,226 | +€41,439 | +56.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.