KISADO: 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.
KISADO
Largest movements
- Cash -€148,171
down €148,171 (-43.4%), from €341,163 to €192,993
mainly Contributions, distributions and other (-€100,000) and Other debts (-€90,000)
- Receivables within one year +€4,866
up €4,866 (+23.0%), from €21,115 to €25,981
of which Trade receivables: +€7,279
- Other debts -€90,000
down €90,000 (-47.4%), from €190,000 to €100,000
- Trade debts -€24,421
down €24,421 (-13.8%), from €177,241 to €152,820
- Accrued charges and deferred income -€23,774
down €23,774 (-100%), from €23,774 to €0
- Profit (loss) carried forward -€10,501
down €10,501 (-85.1%), from €12,337 to €1,836
- Tax, wage and social debts +€6,952
up €6,952 (+11.7%), from €59,649 to €66,601
of which Taxes: +€8,730
- Staff costs +€48,738
up €48,738 (+9.4%), from €520,864 to €569,602
- Gross operating margin +€26,880
up €26,880 (+4.1%), from €658,063 to €684,943
- Taxes +€23,791
up €23,791 (+438%), from €5,428 to €29,219
- Financial charges -€17,650
down €17,650 (-92.7%), from €19,045 to €1,395
- Financial income +€10,253
up €10,253 (+3,730%), from €275 to €10,528
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 | €483,461 | €341,718 | -€141,743 | -29.3% |
| Fixed assets | 21/28 | €15,238 | €12,686 | -€2,552 | -16.8% |
| Tangible fixed assets | 22/27 | €15,238 | €12,686 | -€2,552 | -16.8% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €15,238 | €12,686 | -€2,552 | -16.8% |
| Current assets | 29/58 | €468,223 | €329,032 | -€139,191 | -29.7% |
| Stocks and contracts in progress | 3 | €102,945 | €106,941 | +€3,997 | +3.9% |
| Stocks | 30/36 | €102,945 | €106,941 | +€3,997 | +3.9% |
| Amounts receivable within one year | 40/41 | €21,115 | €25,981 | +€4,866 | +23.0% |
| Trade receivables | 40 | €8,039 | €15,318 | +€7,279 | +90.5% |
| Other amounts receivable | 41 | €13,076 | €10,663 | -€2,413 | -18.5% |
| Cash at bank and in hand | 54/58 | €341,163 | €192,993 | -€148,171 | -43.4% |
| Deferred charges and accrued income | 490/1 | €3,000 | €3,118 | +€118 | +3.9% |
| Total equity and liabilities | 10/49 | €483,461 | €341,718 | -€141,743 | -29.3% |
| Equity | 10/15 | €32,797 | €22,296 | -€10,501 | -32.0% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €12,337 | €1,836 | -€10,501 | -85.1% |
| Amounts payable | 17/49 | €450,664 | €319,422 | -€131,242 | -29.1% |
| Amounts payable within one year | 42/48 | €426,890 | €319,422 | -€107,468 | -25.2% |
| Trade debts | 44 | €177,241 | €152,820 | -€24,421 | -13.8% |
| Suppliers | 440/4 | €177,241 | €152,820 | -€24,421 | -13.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €59,649 | €66,601 | +€6,952 | +11.7% |
| Taxes | 450/3 | €5,428 | €14,158 | +€8,730 | +161% |
| Remuneration and social security | 454/9 | €54,221 | €52,444 | -€1,777 | -3.3% |
| Other amounts payable | 47/48 | €190,000 | €100,000 | -€90,000 | -47.4% |
| Accrued charges and deferred income | 492/3 | €23,774 | €0 | -€23,774 | -100% |
| Remuneration, social security and pensions | 62 | €520,864 | €569,602 | +€48,738 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,901 | €3,707 | +€1,806 | +95.0% |
| Other operating charges | 640/8 | €2,010 | €2,049 | +€38 | +1.9% |
| Gross operating margin | 9900 | €658,063 | €684,943 | +€26,880 | +4.1% |
| Operating profit (loss) | 9901 | €133,287 | €109,585 | -€23,702 | -17.8% |
| Financial income | 75/76B | €275 | €10,528 | +€10,253 | +3,730% |
| Recurring financial income | 75 | €275 | €10,528 | +€10,253 | +3,730% |
| Financial charges | 65/66B | €19,045 | €1,395 | -€17,650 | -92.7% |
| Recurring financial charges | 65 | €19,045 | €1,395 | -€17,650 | -92.7% |
| Profit (loss) for the period before taxes | 9903 | €114,517 | €118,718 | +€4,201 | +3.7% |
| Income taxes | 67/77 | €5,428 | €29,219 | +€23,791 | +438% |
| Profit (loss) for the period | 9904 | €109,089 | €89,499 | -€19,590 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €109,089 | €89,499 | -€19,590 | -18.0% |
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 15 October 2026 via checked.be.