KESTREL CONSULTANCY: 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.
KESTREL CONSULTANCY
Largest movements
- Cash +€21,177
up €21,177 (+34.4%), from €61,497 to €82,674
mainly Net result for the year (+€36,985) and Depreciation (+€5,525)
- Receivables within one year +€14,320
up €14,320 (+773%), from €1,853 to €16,172
of which Trade receivables: +€11,760
- Profit (loss) carried forward +€36,985
up €36,985 (+50.7%), from €72,914 to €109,899
- Trade debts -€1,983
down €1,983 (-80.0%), from €2,479 to €496
- Tax, wage and social debts -€1,352
down €1,352 (-13.0%), from €10,374 to €9,022
- Gross operating margin +€26,120
up €26,120 (+83.2%), from €31,388 to €57,508
- Taxes -€9,108
down €9,108 (-45.2%), from €20,148 to €11,040
- Other operating charges -€1,222
down €1,222 (-69.8%), from €1,750 to €528
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.
Derived cash bridge
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 | €92,340 | €126,705 | +€34,364 | +37.2% |
| Fixed assets | 21/28 | €26,203 | €24,979 | -€1,224 | -4.7% |
| Tangible fixed assets | 22/27 | €26,203 | €24,979 | -€1,224 | -4.7% |
| Furniture and vehicles | 24 | €5,710 | €7,469 | +€1,760 | +30.8% |
| Other tangible fixed assets | 26 | €20,493 | €17,510 | -€2,984 | -14.6% |
| Current assets | 29/58 | €66,137 | €101,726 | +€35,589 | +53.8% |
| Amounts receivable within one year | 40/41 | €1,853 | €16,172 | +€14,320 | +773% |
| Trade receivables | 40 | €1,853 | €13,613 | +€11,760 | +635% |
| Other amounts receivable | 41 | - | €2,560 | +€2,560 | |
| Cash at bank and in hand | 54/58 | €61,497 | €82,674 | +€21,177 | +34.4% |
| Deferred charges and accrued income | 490/1 | €2,787 | €2,879 | +€92 | +3.3% |
| Total equity and liabilities | 10/49 | €92,340 | €126,705 | +€34,364 | +37.2% |
| Equity | 10/15 | €75,914 | €112,899 | +€36,985 | +48.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,914 | €109,899 | +€36,985 | +50.7% |
| Amounts payable | 17/49 | €16,426 | €13,805 | -€2,621 | -16.0% |
| Amounts payable within one year | 42/48 | €14,183 | €11,082 | -€3,100 | -21.9% |
| Trade debts | 44 | €2,479 | €496 | -€1,983 | -80.0% |
| Suppliers | 440/4 | €2,479 | €496 | -€1,983 | -80.0% |
| Taxes, remuneration and social security | 45 | €10,374 | €9,022 | -€1,352 | -13.0% |
| Taxes | 450/3 | €10,374 | €9,022 | -€1,352 | -13.0% |
| Other amounts payable | 47/48 | €1,330 | €1,564 | +€235 | +17.6% |
| Accrued charges and deferred income | 492/3 | €2,244 | €2,723 | +€480 | +21.4% |
| Remuneration, social security and pensions | 62 | €370 | €370 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,039 | €5,525 | +€486 | +9.6% |
| Other operating charges | 640/8 | €1,750 | €528 | -€1,222 | -69.8% |
| Gross operating margin | 9900 | €31,388 | €57,508 | +€26,120 | +83.2% |
| Operating profit (loss) | 9901 | €24,229 | €51,085 | +€26,856 | +111% |
| Financial income | 75/76B | €3 | €5 | +€2 | +78.4% |
| Recurring financial income | 75 | €3 | €5 | +€2 | +78.4% |
| Financial charges | 65/66B | €3,309 | €3,065 | -€245 | -7.4% |
| Recurring financial charges | 65 | €3,309 | €3,065 | -€245 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €20,922 | €48,025 | +€27,103 | +130% |
| Income taxes | 67/77 | €20,148 | €11,040 | -€9,108 | -45.2% |
| Profit (loss) for the period | 9904 | €774 | €36,985 | +€36,211 | +4,676% |
| Profit (loss) for the period to be appropriated | 9905 | €774 | €36,985 | +€36,211 | +4,676% |
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 14 October 2026 via checked.be.