KRISTEL: 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.
KRISTEL
Largest movements
- Cash +€49,944
up €49,944 (+2,398%), from €2,083 to €52,027
mainly Net result for the year (+€91,067) and Depreciation (+€46,423)
- Receivables within one year -€23,439
down €23,439 (-8.3%), from €281,230 to €257,790
of which Other amounts receivable: -€28,301
- Tangible fixed assets -€12,383
down €12,383 (-1.9%), from €642,696 to €630,313
of which Land and buildings: -€23,121
- Reserves +€91,067
up €91,067 (+30.8%), from €295,536 to €386,603
of which Distributable reserves: +€93,038
- Debts after one year -€57,773
down €57,773 (-16.7%), from €346,553 to €288,780
- Current portion of long-term debt -€14,522
down €14,522 (-20.1%), from €72,295 to €57,773
- Tax, wage and social debts -€14,514
down €14,514 (-58.6%), from €24,771 to €10,258
of which Taxes: -€16,313
- Short-term financial debts +€11,772
new in 2025: €11,772
- Financial charges -€47,081
down €47,081 (-82.4%), from €57,126 to €10,045
- Taxes +€19,304
up €19,304 (+79.9%), from €24,154 to €43,458
- Gross operating margin -€12,612
down €12,612 (-5.9%), from €212,453 to €199,842
- Staff costs +€6,199
up €6,199 (+1,011%), from €613 to €6,812
- Financial income -€2,249
down €2,249 (-95.9%), from €2,345 to €96
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 | €948,752 | €960,638 | +€11,886 | +1.3% |
| Fixed assets | 21/28 | €662,696 | €650,313 | -€12,383 | -1.9% |
| Tangible fixed assets | 22/27 | €642,696 | €630,313 | -€12,383 | -1.9% |
| Land and buildings | 22 | €611,219 | €588,098 | -€23,121 | -3.8% |
| Plant, machinery and equipment | 23 | €27,152 | €35,749 | +€8,597 | +31.7% |
| Other tangible fixed assets | 26 | €4,325 | €6,467 | +€2,141 | +49.5% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €286,055 | €310,325 | +€24,269 | +8.5% |
| Amounts receivable within one year | 40/41 | €281,230 | €257,790 | -€23,439 | -8.3% |
| Trade receivables | 40 | €4,090 | €8,952 | +€4,861 | +119% |
| Other amounts receivable | 41 | €277,139 | €248,839 | -€28,301 | -10.2% |
| Cash at bank and in hand | 54/58 | €2,083 | €52,027 | +€49,944 | +2,398% |
| Deferred charges and accrued income | 490/1 | €2,743 | €508 | -€2,235 | -81.5% |
| Total equity and liabilities | 10/49 | €948,752 | €960,638 | +€11,886 | +1.3% |
| Equity | 10/15 | €307,939 | €399,005 | +€91,067 | +29.6% |
| Contributions | 10/11 | €12,403 | €12,403 | = | 0.0% |
| Reserves | 13 | €295,536 | €386,603 | +€91,067 | +30.8% |
| Tax-exempt reserves | 132 | €47,964 | €45,993 | -€1,971 | -4.1% |
| Distributable reserves | 133 | €247,572 | €340,610 | +€93,038 | +37.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €66,916 | €66,259 | -€657 | -1.0% |
| Provisions for liabilities and charges | 160/5 | €50,928 | €50,928 | = | 0.0% |
| Pensions and similar obligations | 160 | €50,928 | €50,928 | = | 0.0% |
| Deferred taxes | 168 | €15,988 | €15,331 | -€657 | -4.1% |
| Amounts payable | 17/49 | €573,896 | €495,373 | -€78,523 | -13.7% |
| Amounts payable after more than one year | 17 | €346,553 | €288,780 | -€57,773 | -16.7% |
| Financial debts | 170/4 | €346,553 | €288,780 | -€57,773 | -16.7% |
| Amounts payable within one year | 42/48 | €226,844 | €205,651 | -€21,193 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €72,295 | €57,773 | -€14,522 | -20.1% |
| Financial debts | 43 | - | €11,772 | +€11,772 | |
| Credit institutions | 430/8 | - | €11,772 | +€11,772 | |
| Trade debts | 44 | €18,809 | €20,927 | +€2,118 | +11.3% |
| Suppliers | 440/4 | €18,809 | €20,927 | +€2,118 | +11.3% |
| Taxes, remuneration and social security | 45 | €24,771 | €10,258 | -€14,514 | -58.6% |
| Taxes | 450/3 | €24,771 | €8,458 | -€16,313 | -65.9% |
| Remuneration and social security | 454/9 | - | €1,799 | +€1,799 | |
| Other amounts payable | 47/48 | €110,969 | €104,922 | -€6,047 | -5.4% |
| Accrued charges and deferred income | 492/3 | €500 | €942 | +€442 | +88.4% |
| Remuneration, social security and pensions | 62 | €613 | €6,812 | +€6,199 | +1,011% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,813 | €46,423 | +€1,610 | +3.6% |
| Other operating charges | 640/8 | €3,762 | €2,789 | -€973 | -25.9% |
| Gross operating margin | 9900 | €212,453 | €199,842 | -€12,612 | -5.9% |
| Operating profit (loss) | 9901 | €163,265 | €143,817 | -€19,447 | -11.9% |
| Financial income | 75/76B | €2,345 | €96 | -€2,249 | -95.9% |
| Recurring financial income | 75 | €2,345 | €96 | -€2,249 | -95.9% |
| Financial charges | 65/66B | €57,126 | €10,045 | -€47,081 | -82.4% |
| Recurring financial charges | 65 | €57,126 | €10,045 | -€47,081 | -82.4% |
| Profit (loss) for the period before taxes | 9903 | €108,483 | €133,868 | +€25,385 | +23.4% |
| Transfer from deferred taxes | 780 | €657 | €657 | = | 0.0% |
| Income taxes | 67/77 | €24,154 | €43,458 | +€19,304 | +79.9% |
| Profit (loss) for the period | 9904 | €84,986 | €91,067 | +€6,081 | +7.2% |
| Transfer from tax-exempt reserves | 789 | €1,971 | €1,971 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €86,957 | €93,038 | +€6,081 | +7.0% |
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 16 October 2026 via checked.be.