KESTELO: 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.
KESTELO
Largest movements
- Cash -€7,109
down €7,109 (-24.8%), from €28,618 to €21,509
mainly Stocks and contracts (-€5,905) and Investment in fixed assets (net) (-€2,406)
- Stocks and contracts +€5,905
up €5,905 (+58.5%), from €10,098 to €16,003
- Receivables within one year +€1,793
up €1,793 (+59.8%), from €2,999 to €4,791
of which Trade receivables: +€1,793
- Profit (loss) carried forward +€4,110
up €4,110 (+10.8%), from -€38,067 to -€33,956
- Other debts -€2,014
down €2,014 (-5.9%), from €34,064 to €32,050
- Trade debts -€914
down €914 (-9.3%), from €9,850 to €8,937
- Gross operating margin +€31,298
up €31,298 (+21.2%), from €147,313 to €178,611
- Financial charges +€20,266
up €20,266 (+21.8%), from €92,866 to €113,132
- Staff costs +€17,796
up €17,796 (+47.9%), from €37,162 to €54,959
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 | €45,073 | €45,966 | +€893 | +2.0% |
| Fixed assets | 21/28 | €3,359 | €3,662 | +€304 | +9.0% |
| Tangible fixed assets | 22/27 | €3,359 | €3,662 | +€304 | +9.0% |
| Land and buildings | 22 | €333 | €184 | -€150 | -44.8% |
| Plant, machinery and equipment | 23 | €469 | €173 | -€297 | -63.2% |
| Furniture and vehicles | 24 | €2,556 | €3,306 | +€750 | +29.4% |
| Current assets | 29/58 | €41,715 | €42,304 | +€589 | +1.4% |
| Stocks and contracts in progress | 3 | €10,098 | €16,003 | +€5,905 | +58.5% |
| Stocks | 30/36 | €10,098 | €16,003 | +€5,905 | +58.5% |
| Amounts receivable within one year | 40/41 | €2,999 | €4,791 | +€1,793 | +59.8% |
| Trade receivables | 40 | €2,569 | €4,362 | +€1,793 | +69.8% |
| Other amounts receivable | 41 | €429 | €429 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €28,618 | €21,509 | -€7,109 | -24.8% |
| Total equity and liabilities | 10/49 | €45,073 | €45,966 | +€893 | +2.0% |
| Equity | 10/15 | -€17,607 | -€13,496 | +€4,110 | +23.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,067 | -€33,956 | +€4,110 | +10.8% |
| Amounts payable | 17/49 | €62,680 | €59,463 | -€3,217 | -5.1% |
| Amounts payable within one year | 42/48 | €62,680 | €59,463 | -€3,217 | -5.1% |
| Trade debts | 44 | €9,850 | €8,937 | -€914 | -9.3% |
| Suppliers | 440/4 | €9,850 | €8,937 | -€914 | -9.3% |
| Taxes, remuneration and social security | 45 | €18,766 | €18,476 | -€290 | -1.5% |
| Taxes | 450/3 | €4,293 | €8,369 | +€4,076 | +95.0% |
| Remuneration and social security | 454/9 | €14,473 | €10,107 | -€4,366 | -30.2% |
| Other amounts payable | 47/48 | €34,064 | €32,050 | -€2,014 | -5.9% |
| Remuneration, social security and pensions | 62 | €37,162 | €54,959 | +€17,796 | +47.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,551 | €2,102 | -€449 | -17.6% |
| Other operating charges | 640/8 | €988 | €1,312 | +€324 | +32.8% |
| Gross operating margin | 9900 | €147,313 | €178,611 | +€31,298 | +21.2% |
| Operating profit (loss) | 9901 | €106,612 | €120,238 | +€13,626 | +12.8% |
| Financial income | 75/76B | €0 | €6 | +€6 | +62000.0% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +62000.0% |
| Financial charges | 65/66B | €92,866 | €113,132 | +€20,266 | +21.8% |
| Recurring financial charges | 65 | €92,866 | €113,132 | +€20,266 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €13,745 | €7,112 | -€6,633 | -48.3% |
| Income taxes | 67/77 | €4,510 | €3,002 | -€1,508 | -33.4% |
| Profit (loss) for the period | 9904 | €9,235 | €4,110 | -€5,125 | -55.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,235 | €4,110 | -€5,125 | -55.5% |
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 3 October 2026 via checked.be.