KESY: 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.
KESY
Largest movements
- Tangible fixed assets -€14,880
down €14,880 (-11.3%), from €131,134 to €116,254
of which Furniture and vehicles: -€14,100
- Receivables within one year +€3,954
up €3,954 (+27.6%), from €14,348 to €18,302
- Debts after one year -€19,268
down €19,268 (-18.6%), from €103,765 to €84,497
- Tax, wage and social debts +€13,007
up €13,007 (+62.5%), from €20,804 to €33,811
of which Taxes: +€13,383
- Profit (loss) carried forward -€6,341
down €6,341 (-106%), from -€6,001 to -€12,342
- Trade debts +€5,256
up €5,256 (+276%), from €1,904 to €7,160
- Other debts -€5,088
down €5,088 (-82.8%), from €6,145 to €1,057
- Gross operating margin +€27,215
up €27,215 (+93.7%), from €29,040 to €56,254
- Staff costs +€16,701
up €16,701 (+153%), from €10,930 to €27,631
- Financial charges +€6,123
up €6,123 (+66.5%), from €9,209 to €15,332
- Other operating charges +€2,619
up €2,619 (+128%), from €2,043 to €4,662
- Depreciation +€1,114
up €1,114 (+8.1%), from €13,766 to €14,880
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 | €147,275 | €136,051 | -€11,224 | -7.6% |
| Fixed assets | 21/28 | €131,134 | €116,254 | -€14,880 | -11.3% |
| Tangible fixed assets | 22/27 | €131,134 | €116,254 | -€14,880 | -11.3% |
| Plant, machinery and equipment | 23 | €3,693 | €2,913 | -€780 | -21.1% |
| Furniture and vehicles | 24 | €127,441 | €113,341 | -€14,100 | -11.1% |
| Current assets | 29/58 | €16,142 | €19,798 | +€3,656 | +22.7% |
| Amounts receivable within one year | 40/41 | €14,348 | €18,302 | +€3,954 | +27.6% |
| Trade receivables | 40 | €14,348 | €18,302 | +€3,954 | +27.6% |
| Cash at bank and in hand | 54/58 | €1,282 | €143 | -€1,140 | -88.9% |
| Deferred charges and accrued income | 490/1 | €511 | €1,353 | +€842 | +165% |
| Total equity and liabilities | 10/49 | €147,275 | €136,051 | -€11,224 | -7.6% |
| Equity | 10/15 | -€3,401 | -€9,742 | -€6,341 | -186% |
| Contributions | 10/11 | €2,600 | €2,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,001 | -€12,342 | -€6,341 | -106% |
| Amounts payable | 17/49 | €150,676 | €145,793 | -€4,883 | -3.2% |
| Amounts payable after more than one year | 17 | €103,765 | €84,497 | -€19,268 | -18.6% |
| Financial debts | 170/4 | €103,765 | €84,497 | -€19,268 | -18.6% |
| Amounts payable within one year | 42/48 | €46,911 | €61,296 | +€14,385 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €18,058 | €19,268 | +€1,209 | +6.7% |
| Trade debts | 44 | €1,904 | €7,160 | +€5,256 | +276% |
| Suppliers | 440/4 | €1,904 | €7,160 | +€5,256 | +276% |
| Taxes, remuneration and social security | 45 | €20,804 | €33,811 | +€13,007 | +62.5% |
| Taxes | 450/3 | €13,983 | €27,367 | +€13,383 | +95.7% |
| Remuneration and social security | 454/9 | €6,820 | €6,444 | -€376 | -5.5% |
| Other amounts payable | 47/48 | €6,145 | €1,057 | -€5,088 | -82.8% |
| Remuneration, social security and pensions | 62 | €10,930 | €27,631 | +€16,701 | +153% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,766 | €14,880 | +€1,114 | +8.1% |
| Other operating charges | 640/8 | €2,043 | €4,662 | +€2,619 | +128% |
| Gross operating margin | 9900 | €29,040 | €56,254 | +€27,215 | +93.7% |
| Operating profit (loss) | 9901 | €2,301 | €9,082 | +€6,781 | +295% |
| Financial income | 75/76B | - | €159 | +€159 | |
| Recurring financial income | 75 | - | €159 | +€159 | |
| Financial charges | 65/66B | €9,209 | €15,332 | +€6,123 | +66.5% |
| Recurring financial charges | 65 | €9,209 | €15,332 | +€6,123 | +66.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,908 | -€6,091 | +€818 | +11.8% |
| Income taxes | 67/77 | €188 | €250 | +€62 | +32.9% |
| Profit (loss) for the period | 9904 | -€7,096 | -€6,341 | +€756 | +10.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,096 | -€6,341 | +€756 | +10.6% |
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 20 October 2026 via checked.be.