Kisa: 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.
Kisa
Largest movements
- Receivables within one year -€702,406
down €702,406 (-20.6%), from €3.4m to €2.7m
of which Trade receivables: -€646,383
- Cash -€99,283
down €99,283 (-15.1%), from €656,320 to €557,037
mainly Accrued charges and deferred income (-€691,785) and Other debts (-€469,328)
- Accrued charges and deferred income -€691,785
down €691,785 (-43.6%), from €1.6m to €894,298
- Other debts -€469,328
down €469,328 (-34.5%), from €1.4m to €892,655
- Reserves +€236,685
up €236,685 (+294%), from €80,370 to €317,055
of which Distributable reserves: +€236,685
- Trade debts -€125,919
down €125,919 (-11.9%), from €1.1m to €931,403
- Short-term financial debts +€100,000
new in 2025: €100,000
- Gross operating margin -€183,862
down €183,862 (-18.6%), from €989,575 to €805,714
- Taxes -€63,382
down €63,382 (-39.5%), from €160,410 to €97,028
- Financial income -€32,901
down €32,901 (-53.4%), from €61,653 to €28,753
- Staff costs +€22,418
up €22,418 (+5.6%), from €397,807 to €420,225
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 | €4,200,467 | €3,349,825 | -€850,641 | -20.3% |
| Fixed assets | 21/28 | €118,932 | €82,443 | -€36,489 | -30.7% |
| Intangible fixed assets | 21 | €46,759 | €40,759 | -€6,000 | -12.8% |
| Tangible fixed assets | 22/27 | €70,628 | €40,139 | -€30,489 | -43.2% |
| Plant, machinery and equipment | 23 | €4,069 | €6,135 | +€2,066 | +50.8% |
| Furniture and vehicles | 24 | €66,560 | €34,004 | -€32,555 | -48.9% |
| Financial fixed assets | 28 | €1,545 | €1,545 | = | 0.0% |
| Current assets | 29/58 | €4,081,535 | €3,267,383 | -€814,152 | -19.9% |
| Amounts receivable within one year | 40/41 | €3,403,462 | €2,701,057 | -€702,406 | -20.6% |
| Trade receivables | 40 | €3,222,492 | €2,576,109 | -€646,383 | -20.1% |
| Other amounts receivable | 41 | €180,970 | €124,948 | -€56,022 | -31.0% |
| Cash at bank and in hand | 54/58 | €656,320 | €557,037 | -€99,283 | -15.1% |
| Deferred charges and accrued income | 490/1 | €21,752 | €9,289 | -€12,463 | -57.3% |
| Total equity and liabilities | 10/49 | €4,200,467 | €3,349,825 | -€850,641 | -20.3% |
| Equity | 10/15 | €142,370 | €379,055 | +€236,685 | +166% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €80,370 | €317,055 | +€236,685 | +294% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €74,170 | €310,855 | +€236,685 | +319% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,058,097 | €2,970,770 | -€1.1m | -26.8% |
| Amounts payable after more than one year | 17 | €5,000 | €5,000 | = | 0.0% |
| Other amounts payable | 178/9 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,467,014 | €2,071,472 | -€395,542 | -16.0% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Other loans | 439 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €1,057,322 | €931,403 | -€125,919 | -11.9% |
| Suppliers | 440/4 | €1,057,322 | €931,403 | -€125,919 | -11.9% |
| Taxes, remuneration and social security | 45 | €47,709 | €147,415 | +€99,705 | +209% |
| Taxes | 450/3 | - | €97,083 | +€97,083 | |
| Remuneration and social security | 454/9 | €47,709 | €50,332 | +€2,623 | +5.5% |
| Other amounts payable | 47/48 | €1,361,983 | €892,655 | -€469,328 | -34.5% |
| Accrued charges and deferred income | 492/3 | €1,586,083 | €894,298 | -€691,785 | -43.6% |
| Non-recurring operating income | 76A | €19,164 | €0 | -€19,164 | -100% |
| Remuneration, social security and pensions | 62 | €397,807 | €420,225 | +€22,418 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,119 | €41,180 | -€3,939 | -8.7% |
| Other operating charges | 640/8 | €16,258 | €7,516 | -€8,742 | -53.8% |
| Gross operating margin | 9900 | €989,575 | €805,714 | -€183,862 | -18.6% |
| Operating profit (loss) | 9901 | €530,392 | €336,793 | -€193,599 | -36.5% |
| Financial income | 75/76B | €61,653 | €28,753 | -€32,901 | -53.4% |
| Recurring financial income | 75 | €61,653 | €28,753 | -€32,901 | -53.4% |
| Financial charges | 65/66B | €27,051 | €31,833 | +€4,782 | +17.7% |
| Recurring financial charges | 65 | €27,051 | €31,833 | +€4,782 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | €564,994 | €333,713 | -€231,281 | -40.9% |
| Income taxes | 67/77 | €160,410 | €97,028 | -€63,382 | -39.5% |
| Profit (loss) for the period | 9904 | €404,584 | €236,685 | -€167,899 | -41.5% |
| Profit (loss) for the period to be appropriated | 9905 | €404,584 | €236,685 | -€167,899 | -41.5% |
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.