KIESAK: 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.
KIESAK
Largest movements
- Cash -€59,266
down €59,266 (-79.5%), from €74,524 to €15,258
mainly Contributions, distributions and other (-€60,000) and Other debts (-€3,720)
- Receivables within one year -€2,915
down €2,915 (-11.0%), from €26,511 to €23,597
of which Trade receivables: -€8,639
- Reserves -€59,637
down €59,637 (-97.1%), from €61,448 to €1,810
- Trade debts +€5,386
up €5,386 (+4,519%), from €119 to €5,505
- Other debts -€3,720
down €3,720 (-18.7%), from €19,935 to €16,214
- Tax, wage and social debts -€3,664
down €3,664 (-22.8%), from €16,067 to €12,403
- Gross operating margin -€15,821
down €15,821 (-76.7%), from €20,622 to €4,801
- Taxes -€2,640
down €2,640 (-60.2%), from €4,384 to €1,743
- Financial charges -€588
down €588 (-26.0%), from €2,261 to €1,672
- Other operating charges +€368
up €368 (+116%), from €317 to €685
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 | €101,668 | €39,533 | -€62,135 | -61.1% |
| Fixed assets | 21/28 | €338 | €0 | -€338 | -100% |
| Tangible fixed assets | 22/27 | €338 | €0 | -€338 | -100% |
| Furniture and vehicles | 24 | €338 | €0 | -€338 | -100% |
| Current assets | 29/58 | €101,330 | €39,533 | -€61,797 | -61.0% |
| Amounts receivable within one year | 40/41 | €26,511 | €23,597 | -€2,915 | -11.0% |
| Trade receivables | 40 | €26,511 | €17,872 | -€8,639 | -32.6% |
| Other amounts receivable | 41 | - | €5,725 | +€5,725 | |
| Cash at bank and in hand | 54/58 | €74,524 | €15,258 | -€59,266 | -79.5% |
| Deferred charges and accrued income | 490/1 | €295 | €678 | +€383 | +130% |
| Total equity and liabilities | 10/49 | €101,668 | €39,533 | -€62,135 | -61.1% |
| Equity | 10/15 | €65,048 | €5,410 | -€59,637 | -91.7% |
| Contributions | 10/11 | €3,600 | €3,600 | = | 0.0% |
| Reserves | 13 | €61,448 | €1,810 | -€59,637 | -97.1% |
| Distributable reserves | 133 | €61,448 | €1,810 | -€59,637 | -97.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €36,620 | €34,122 | -€2,498 | -6.8% |
| Amounts payable within one year | 42/48 | €36,120 | €34,122 | -€1,998 | -5.5% |
| Trade debts | 44 | €119 | €5,505 | +€5,386 | +4,519% |
| Suppliers | 440/4 | €119 | €5,505 | +€5,386 | +4,519% |
| Taxes, remuneration and social security | 45 | €16,067 | €12,403 | -€3,664 | -22.8% |
| Taxes | 450/3 | €16,067 | €12,403 | -€3,664 | -22.8% |
| Other amounts payable | 47/48 | €19,935 | €16,214 | -€3,720 | -18.7% |
| Accrued charges and deferred income | 492/3 | €500 | €0 | -€500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €340 | €338 | -€2 | -0.7% |
| Other operating charges | 640/8 | €317 | €685 | +€368 | +116% |
| Gross operating margin | 9900 | €20,622 | €4,801 | -€15,821 | -76.7% |
| Operating profit (loss) | 9901 | €19,965 | €3,779 | -€16,186 | -81.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,261 | €1,672 | -€588 | -26.0% |
| Recurring financial charges | 65 | €2,261 | €1,672 | -€588 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €17,704 | €2,106 | -€15,598 | -88.1% |
| Income taxes | 67/77 | €4,384 | €1,743 | -€2,640 | -60.2% |
| Profit (loss) for the period | 9904 | €13,321 | €363 | -€12,958 | -97.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,321 | €363 | -€12,958 | -97.3% |
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 16 October 2026 via checked.be.