KESTAN: 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.
KESTAN
Largest movements
- Receivables within one year +€23,987
up €23,987 (+1236.9%), from €1,939 to €25,926
of which Other amounts receivable: +€24,759
- Cash +€3,634
up €3,634 (+10.5%), from €34,746 to €38,380
mainly Net result for the year (+€20,962) and Depreciation (+€19,056)
- Tangible fixed assets -€2,206
down €2,206 (-3.6%), from €60,564 to €58,358
of which Furniture and vehicles: -€3,217
- Stocks and contracts +€1,534
up €1,534 (+17.6%), from €8,700 to €10,234
- Profit (loss) carried forward +€20,962
up €20,962 (+48.1%), from €43,541 to €64,503
- Trade debts -€19,674
down €19,674 (-59.8%), from €32,915 to €13,240
- Accrued charges and deferred income +€18,851
up €18,851 (+2934.7%), from €642 to €19,493
- Tax, wage and social debts +€11,800
up €11,800 (+65.4%), from €18,042 to €29,843
of which Taxes: +€11,473
- Other debts -€6,203
no longer reported in 2025 (was €6,203)
- Gross operating margin +€16,792
up €16,792 (+18.1%), from €92,876 to €109,668
- Staff costs -€14,026
down €14,026 (-19.3%), from €72,526 to €58,500
- Taxes +€8,235
up €8,235 (+243.9%), from €3,376 to €11,611
- Depreciation +€1,942
up €1,942 (+11.3%), from €17,114 to €19,056
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 | €107,343 | €133,079 | +€25,736 | +24.0% |
| Fixed assets | 21/28 | €60,564 | €58,358 | -€2,206 | -3.6% |
| Tangible fixed assets | 22/27 | €60,564 | €58,358 | -€2,206 | -3.6% |
| Plant, machinery and equipment | 23 | €29,441 | €30,016 | +€575 | +2.0% |
| Furniture and vehicles | 24 | €10,346 | €7,129 | -€3,217 | -31.1% |
| Other tangible fixed assets | 26 | €20,777 | €21,213 | +€435 | +2.1% |
| Current assets | 29/58 | €46,779 | €74,721 | +€27,942 | +59.7% |
| Stocks and contracts in progress | 3 | €8,700 | €10,234 | +€1,534 | +17.6% |
| Stocks | 30/36 | €8,700 | €10,234 | +€1,534 | +17.6% |
| Amounts receivable within one year | 40/41 | €1,939 | €25,926 | +€23,987 | +1236.9% |
| Trade receivables | 40 | €772 | - | -€772 | |
| Other amounts receivable | 41 | €1,167 | €25,926 | +€24,759 | +2121.8% |
| Cash at bank and in hand | 54/58 | €34,746 | €38,380 | +€3,634 | +10.5% |
| Deferred charges and accrued income | 490/1 | €1,394 | €180 | -€1,213 | -87.1% |
| Total equity and liabilities | 10/49 | €107,343 | €133,079 | +€25,736 | +24.0% |
| Equity | 10/15 | €49,541 | €70,503 | +€20,962 | +42.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,541 | €64,503 | +€20,962 | +48.1% |
| Amounts payable | 17/49 | €57,802 | €62,576 | +€4,774 | +8.3% |
| Amounts payable within one year | 42/48 | €57,160 | €43,083 | -€14,077 | -24.6% |
| Trade debts | 44 | €32,915 | €13,240 | -€19,674 | -59.8% |
| Suppliers | 440/4 | €32,915 | €13,240 | -€19,674 | -59.8% |
| Taxes, remuneration and social security | 45 | €18,042 | €29,843 | +€11,800 | +65.4% |
| Taxes | 450/3 | €15,497 | €26,970 | +€11,473 | +74.0% |
| Remuneration and social security | 454/9 | €2,545 | €2,872 | +€327 | +12.9% |
| Other amounts payable | 47/48 | €6,203 | - | -€6,203 | |
| Accrued charges and deferred income | 492/3 | €642 | €19,493 | +€18,851 | +2934.7% |
| Remuneration, social security and pensions | 62 | €72,526 | €58,500 | -€14,026 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,114 | €19,056 | +€1,942 | +11.3% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €92,876 | €109,668 | +€16,792 | +18.1% |
| Operating profit (loss) | 9901 | €3,110 | €31,984 | +€28,874 | +928.4% |
| Financial income | 75/76B | €15 | €968 | +€953 | +6206.4% |
| Recurring financial income | 75 | €15 | €968 | +€953 | +6206.4% |
| Financial charges | 65/66B | €513 | €379 | -€134 | -26.0% |
| Recurring financial charges | 65 | €513 | €379 | -€134 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €2,613 | €32,573 | +€29,960 | +1146.7% |
| Income taxes | 67/77 | €3,376 | €11,611 | +€8,235 | +243.9% |
| Profit (loss) for the period | 9904 | -€763 | €20,962 | +€21,725 | |
| Profit (loss) for the period to be appropriated | 9905 | -€763 | €20,962 | +€21,725 |
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 10 October 2026 via checked.be.