KESTANE: 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.
KESTANE
Largest movements
- Tangible fixed assets +€88,794
up €88,794 (+167.6%), from €52,966 to €141,760
of which Plant, machinery and equipment: +€109,343
- Cash -€77,221
down €77,221 (-70.3%), from €109,778 to €32,557
mainly Investment in fixed assets (net) (-€128,533) and Tax, wage and social debts (-€55,689)
- Stocks and contracts +€8,552
up €8,552 (+92.9%), from €9,204 to €17,756
- Receivables within one year +€6,305
up €6,305 (+181.3%), from €3,477 to €9,782
of which Other amounts receivable: +€6,373
- Profit (loss) carried forward +€76,282
up €76,282 (+86.1%), from €88,619 to €164,902
- Tax, wage and social debts -€55,689
down €55,689 (-64.2%), from €86,806 to €31,116
of which Taxes: -€30,079
- Trade debts +€5,837
up €5,837, from €0 to €5,837
- Turnover +€864,423
new in 2025: €864,423
- Purchases and services +€504,251
new in 2025: €504,251
- Gross operating margin +€81,460
up €81,460 (+29.2%), from €279,180 to €360,640
- Taxes +€49,313
up €49,313 (+1142.1%), from €4,318 to €53,631
- Staff costs -€31,882
down €31,882 (-14.7%), from €217,282 to €185,400
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 | €190,425 | €216,855 | +€26,430 | +13.9% |
| Fixed assets | 21/28 | €67,966 | €156,760 | +€88,794 | +130.6% |
| Tangible fixed assets | 22/27 | €52,966 | €141,760 | +€88,794 | +167.6% |
| Plant, machinery and equipment | 23 | €12,328 | €121,671 | +€109,343 | +887.0% |
| Furniture and vehicles | 24 | €26,819 | €10,928 | -€15,891 | -59.3% |
| Other tangible fixed assets | 26 | €13,820 | €9,161 | -€4,659 | -33.7% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €122,459 | €60,095 | -€62,364 | -50.9% |
| Stocks and contracts in progress | 3 | €9,204 | €17,756 | +€8,552 | +92.9% |
| Stocks | 30/36 | €9,204 | €17,756 | +€8,552 | +92.9% |
| Amounts receivable within one year | 40/41 | €3,477 | €9,782 | +€6,305 | +181.3% |
| Trade receivables | 40 | €68 | - | -€68 | |
| Other amounts receivable | 41 | €3,409 | €9,782 | +€6,373 | +186.9% |
| Cash at bank and in hand | 54/58 | €109,778 | €32,557 | -€77,221 | -70.3% |
| Total equity and liabilities | 10/49 | €190,425 | €216,855 | +€26,430 | +13.9% |
| Equity | 10/15 | €103,619 | €179,902 | +€76,282 | +73.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Capital | 10 | - | €15,000 | +€15,000 | |
| Issued capital | 100 | - | €15,000 | +€15,000 | |
| Outside capital | 11 | €15,000 | - | -€15,000 | |
| Share premium | 1100/10 | €15,000 | - | -€15,000 | |
| Profit (loss) carried forward | 14 | €88,619 | €164,902 | +€76,282 | +86.1% |
| Amounts payable | 17/49 | €86,806 | €36,954 | -€49,852 | -57.4% |
| Amounts payable within one year | 42/48 | €86,806 | €36,954 | -€49,852 | -57.4% |
| Trade debts | 44 | €0 | €5,837 | +€5,837 | |
| Suppliers | 440/4 | €0 | €5,837 | +€5,837 | |
| Taxes, remuneration and social security | 45 | €86,806 | €31,116 | -€55,689 | -64.2% |
| Taxes | 450/3 | €61,196 | €31,116 | -€30,079 | -49.2% |
| Remuneration and social security | 454/9 | €25,610 | - | -€25,610 | |
| Turnover | 70 | - | €864,423 | +€864,423 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €504,251 | +€504,251 | |
| Remuneration, social security and pensions | 62 | €217,282 | €185,400 | -€31,882 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,694 | €39,739 | +€10,045 | +33.8% |
| Other operating charges | 640/8 | €893 | €1,047 | +€154 | +17.2% |
| Non-recurring operating charges | 66A | €20 | €100 | +€80 | +411.0% |
| Gross operating margin | 9900 | €279,180 | €360,640 | +€81,460 | +29.2% |
| Operating profit (loss) | 9901 | €31,291 | €134,353 | +€103,063 | +329.4% |
| Financial charges | 65/66B | €2,338 | €4,440 | +€2,102 | +89.9% |
| Recurring financial charges | 65 | €2,338 | €4,440 | +€2,102 | +89.9% |
| Profit (loss) for the period before taxes | 9903 | €28,952 | €129,913 | +€100,961 | +348.7% |
| Income taxes | 67/77 | €4,318 | €53,631 | +€49,313 | +1142.1% |
| Profit (loss) for the period | 9904 | €24,635 | €76,282 | +€51,648 | +209.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,635 | €76,282 | +€51,648 | +209.7% |
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 5 October 2026 via checked.be.