KIASMA: 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.
KIASMA
Largest movements
- Cash -€56,342
down €56,342 (-39.4%), from €143,101 to €86,760
mainly Debts after one year (-€40,485) and Other debts (-€19,707)
- Tangible fixed assets -€22,124
down €22,124 (-4.2%), from €527,653 to €505,529
of which Land and buildings: -€23,441
- Receivables within one year +€18,219
up €18,219 (+1,511%), from €1,206 to €19,425
of which Other amounts receivable: +€17,145
- Debts after one year -€40,485
down €40,485 (-43.1%), from €93,929 to €53,444
- Other debts -€19,707
down €19,707 (-40.2%), from €48,996 to €29,290
- Reserves +€18,874
up €18,874 (+4.4%), from €432,744 to €451,618
of which Distributable reserves: +€18,874
- Current portion of long-term debt -€15,241
down €15,241 (-27.4%), from €55,726 to €40,485
- Gross operating margin -€59,623
down €59,623 (-39.9%), from €149,324 to €89,701
- Taxes -€17,401
down €17,401 (-62.5%), from €27,859 to €10,458
- Financial charges -€4,976
down €4,976 (-35.0%), from €14,226 to €9,250
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 | €702,068 | €639,084 | -€62,984 | -9.0% |
| Fixed assets | 21/28 | €527,653 | €505,529 | -€22,124 | -4.2% |
| Tangible fixed assets | 22/27 | €527,653 | €505,529 | -€22,124 | -4.2% |
| Land and buildings | 22 | €527,400 | €503,959 | -€23,441 | -4.4% |
| Plant, machinery and equipment | 23 | €252 | €1,570 | +€1,317 | +522% |
| Current assets | 29/58 | €174,415 | €133,555 | -€40,860 | -23.4% |
| Stocks and contracts in progress | 3 | €27,632 | €24,871 | -€2,761 | -10.0% |
| Stocks | 30/36 | €27,632 | €24,871 | -€2,761 | -10.0% |
| Amounts receivable within one year | 40/41 | €1,206 | €19,425 | +€18,219 | +1,511% |
| Trade receivables | 40 | €1,129 | €2,202 | +€1,074 | +95.1% |
| Other amounts receivable | 41 | €77 | €17,223 | +€17,145 | +22,183% |
| Cash at bank and in hand | 54/58 | €143,101 | €86,760 | -€56,342 | -39.4% |
| Deferred charges and accrued income | 490/1 | €2,476 | €2,500 | +€24 | +1.0% |
| Total equity and liabilities | 10/49 | €702,068 | €639,084 | -€62,984 | -9.0% |
| Equity | 10/15 | €463,744 | €482,618 | +€18,874 | +4.1% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €432,744 | €451,618 | +€18,874 | +4.4% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | €429,644 | €448,518 | +€18,874 | +4.4% |
| Amounts payable | 17/49 | €238,323 | €156,466 | -€81,858 | -34.3% |
| Amounts payable after more than one year | 17 | €93,929 | €53,444 | -€40,485 | -43.1% |
| Financial debts | 170/4 | €93,929 | €53,444 | -€40,485 | -43.1% |
| Amounts payable within one year | 42/48 | €138,055 | €100,214 | -€37,841 | -27.4% |
| Current portion of amounts payable after more than one year | 42 | €55,726 | €40,485 | -€15,241 | -27.4% |
| Financial debts | 43 | - | €24 | +€24 | |
| Credit institutions | 430/8 | - | €24 | +€24 | |
| Trade debts | 44 | €10,582 | €10,881 | +€299 | +2.8% |
| Suppliers | 440/4 | €10,582 | €10,881 | +€299 | +2.8% |
| Advances received on contracts in progress | 46 | €735 | €1,194 | +€459 | +62.5% |
| Taxes, remuneration and social security | 45 | €22,015 | €18,340 | -€3,675 | -16.7% |
| Taxes | 450/3 | €18,721 | €15,118 | -€3,603 | -19.2% |
| Remuneration and social security | 454/9 | €3,295 | €3,222 | -€73 | -2.2% |
| Other amounts payable | 47/48 | €48,996 | €29,290 | -€19,707 | -40.2% |
| Accrued charges and deferred income | 492/3 | €6,340 | €2,808 | -€3,532 | -55.7% |
| Remuneration, social security and pensions | 62 | €22,709 | €21,911 | -€798 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,682 | €25,651 | -€32 | -0.1% |
| Other operating charges | 640/8 | €7,882 | €8,042 | +€160 | +2.0% |
| Gross operating margin | 9900 | €149,324 | €89,701 | -€59,623 | -39.9% |
| Operating profit (loss) | 9901 | €93,051 | €34,097 | -€58,954 | -63.4% |
| Financial income | 75/76B | €4,942 | €4,485 | -€457 | -9.3% |
| Recurring financial income | 75 | €4,942 | €4,485 | -€457 | -9.3% |
| Financial charges | 65/66B | €14,226 | €9,250 | -€4,976 | -35.0% |
| Recurring financial charges | 65 | €14,226 | €9,250 | -€4,976 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €83,767 | €29,332 | -€54,435 | -65.0% |
| Income taxes | 67/77 | €27,859 | €10,458 | -€17,401 | -62.5% |
| Profit (loss) for the period | 9904 | €55,908 | €18,874 | -€37,034 | -66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,908 | €18,874 | -€37,034 | -66.2% |
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 28 October 2026 via checked.be.