KISTEMANN Pascal: 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.
KISTEMANN Pascal
Largest movements
- Receivables within one year -€17,926
down €17,926 (-23.0%), from €77,985 to €60,059
of which Other amounts receivable: -€17,444
- Cash -€16,232
down €16,232 (-54.0%), from €30,052 to €13,821
mainly Tax, wage and social debts (-€16,164) and Current portion of long-term debt (-€10,242)
- Tangible fixed assets -€6,195
down €6,195 (-81.0%), from €7,651 to €1,456
of which Furniture and vehicles: -€4,635
- Deferred charges and accrued income -€3,101
down €3,101 (-86.1%), from €3,603 to €502
- Tax, wage and social debts -€16,164
down €16,164 (-64.6%), from €25,010 to €8,845
of which Remuneration and social security: -€12,669
- Current portion of long-term debt -€10,242
down €10,242 (-66.1%), from €15,491 to €5,249
- Other debts -€8,974
down €8,974 (-39.5%), from €22,734 to €13,761
- Debts after one year -€5,249
no longer reported in 2025 (was €5,249)
- Short-term financial debts -€5,000
down €5,000 (-5.3%), from €95,000 to €90,000
- Gross operating margin +€23,919
up €23,919 (+22.9%), from €104,350 to €128,270
- Financial charges -€11,293
down €11,293 (-55.9%), from €20,193 to €8,900
- Staff costs +€8,823
up €8,823 (+9.0%), from €97,769 to €106,591
- Other operating charges -€4,725
down €4,725 (-79.7%), from €5,927 to €1,201
- Depreciation -€2,931
down €2,931 (-32.1%), from €9,126 to €6,195
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.
Cash bridge derived
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 | €119,291 | €75,838 | -€43,453 | -36.4% |
| Fixed assets | 21/28 | €7,651 | €1,456 | -€6,195 | -81.0% |
| Tangible fixed assets | 22/27 | €7,651 | €1,456 | -€6,195 | -81.0% |
| Plant, machinery and equipment | 23 | €2,483 | €922 | -€1,560 | -62.9% |
| Furniture and vehicles | 24 | €5,168 | €533 | -€4,635 | -89.7% |
| Current assets | 29/58 | €111,640 | €74,382 | -€37,258 | -33.4% |
| Amounts receivable within one year | 40/41 | €77,985 | €60,059 | -€17,926 | -23.0% |
| Trade receivables | 40 | €44,055 | €43,573 | -€482 | -1.1% |
| Other amounts receivable | 41 | €33,929 | €16,486 | -€17,444 | -51.4% |
| Cash at bank and in hand | 54/58 | €30,052 | €13,821 | -€16,232 | -54.0% |
| Deferred charges and accrued income | 490/1 | €3,603 | €502 | -€3,101 | -86.1% |
| Total equity and liabilities | 10/49 | €119,291 | €75,838 | -€43,453 | -36.4% |
| Equity | 10/15 | -€69,857 | -€64,964 | +€4,892 | +7.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €107,397 | €107,397 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Other | 1319 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €105,397 | €105,397 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€197,254 | -€192,361 | +€4,892 | +2.5% |
| Amounts payable | 17/49 | €189,147 | €140,802 | -€48,345 | -25.6% |
| Amounts payable after more than one year | 17 | €5,249 | - | -€5,249 | |
| Financial debts | 170/4 | €5,249 | - | -€5,249 | |
| Amounts payable within one year | 42/48 | €183,899 | €140,677 | -€43,222 | -23.5% |
| Current portion of amounts payable after more than one year | 42 | €15,491 | €5,249 | -€10,242 | -66.1% |
| Financial debts | 43 | €95,000 | €90,000 | -€5,000 | -5.3% |
| Credit institutions | 430/8 | €95,000 | €90,000 | -€5,000 | -5.3% |
| Trade debts | 44 | €25,664 | €22,822 | -€2,841 | -11.1% |
| Suppliers | 440/4 | €25,664 | €22,822 | -€2,841 | -11.1% |
| Taxes, remuneration and social security | 45 | €25,010 | €8,845 | -€16,164 | -64.6% |
| Taxes | 450/3 | €8,246 | €4,750 | -€3,496 | -42.4% |
| Remuneration and social security | 454/9 | €16,764 | €4,095 | -€12,669 | -75.6% |
| Other amounts payable | 47/48 | €22,734 | €13,761 | -€8,974 | -39.5% |
| Accrued charges and deferred income | 492/3 | - | €125 | +€125 | |
| Non-recurring operating income | 76A | €68,012 | - | -€68,012 | |
| Remuneration, social security and pensions | 62 | €97,769 | €106,591 | +€8,823 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,126 | €6,195 | -€2,931 | -32.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,933 | €684 | -€1,249 | -64.6% |
| Other operating charges | 640/8 | €5,927 | €1,201 | -€4,725 | -79.7% |
| Gross operating margin | 9900 | €104,350 | €128,270 | +€23,919 | +22.9% |
| Operating profit (loss) | 9901 | -€10,404 | €13,598 | +€24,002 | |
| Financial income | 75/76B | €192 | €194 | +€2 | +1.0% |
| Recurring financial income | 75 | €192 | €194 | +€2 | +1.0% |
| Financial charges | 65/66B | €20,193 | €8,900 | -€11,293 | -55.9% |
| Recurring financial charges | 65 | €20,193 | €8,900 | -€11,293 | -55.9% |
| Profit (loss) for the period before taxes | 9903 | -€30,405 | €4,892 | +€35,297 | |
| Profit (loss) for the period | 9904 | -€30,405 | €4,892 | +€35,297 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,405 | €4,892 | +€35,297 |
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 12 October 2026 via checked.be.