KST: what changed
Two fiscal 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.
KST
Largest movements
- Tangible fixed assets -€61,135
down €61,135 (-30.0%), from €203,570 to €142,435
- Stocks and contracts -€27,052
down €27,052 (-30.3%), from €89,331 to €62,279
of which Contracts in progress: -€15,602
- Receivables within one year +€19,231
up €19,231 (+69.7%), from €27,577 to €46,808
of which Trade receivables: +€18,943
- Cash +€18,028
up €18,028 (+84.6%), from €21,313 to €39,341
mainly Depreciation (+€72,537) and Stocks and contracts (+€27,052)
- Intangible fixed assets -€9,000
down €9,000 (-44.5%), from €20,219 to €11,219
- Debts after one year -€40,639
down €40,639 (-30.4%), from €133,719 to €93,080
- Trade debts -€14,521
down €14,521 (-57.2%), from €25,367 to €10,846
- Profit (loss) carried forward -€6,056
down €6,056 (-22.6%), from -€26,832 to -€32,888
- Staff costs -€22,694
down €22,694 (-99.3%), from €22,859 to €165
- Gross operating margin -€2,421
down €2,421 (-2.9%), from €84,365 to €81,943
- Financial charges -€993
down €993 (-7.5%), from €13,234 to €12,241
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 | €364,970 | €302,081 | -€62,889 | -17.2% |
| Fixed assets | 21/28 | €223,789 | €153,654 | -€70,135 | -31.3% |
| Intangible fixed assets | 21 | €20,219 | €11,219 | -€9,000 | -44.5% |
| Tangible fixed assets | 22/27 | €203,570 | €142,435 | -€61,135 | -30.0% |
| Land and buildings | 22 | €13,601 | €11,982 | -€1,619 | -11.9% |
| Plant, machinery and equipment | 23 | €61,413 | €35,493 | -€25,920 | -42.2% |
| Furniture and vehicles | 24 | €68,710 | €52,354 | -€16,355 | -23.8% |
| Leasing and similar rights | 25 | €59,846 | €42,606 | -€17,241 | -28.8% |
| Current assets | 29/58 | €141,181 | €148,427 | +€7,246 | +5.1% |
| Stocks and contracts in progress | 3 | €89,331 | €62,279 | -€27,052 | -30.3% |
| Stocks | 30/36 | €32,729 | €21,279 | -€11,450 | -35.0% |
| Contracts in progress | 37 | €56,602 | €41,000 | -€15,602 | -27.6% |
| Amounts receivable within one year | 40/41 | €27,577 | €46,808 | +€19,231 | +69.7% |
| Trade receivables | 40 | €22,154 | €41,097 | +€18,943 | +85.5% |
| Other amounts receivable | 41 | €5,422 | €5,711 | +€289 | +5.3% |
| Cash at bank and in hand | 54/58 | €21,313 | €39,341 | +€18,028 | +84.6% |
| Deferred charges and accrued income | 490/1 | €2,960 | €0 | -€2,960 | -100.0% |
| Total equity and liabilities | 10/49 | €364,970 | €302,081 | -€62,889 | -17.2% |
| Equity | 10/15 | €6,081 | €24 | -€6,056 | -99.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €22,913 | €22,913 | = | 0.0% |
| Distributable reserves | 133 | €22,913 | €22,913 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,832 | -€32,888 | -€6,056 | -22.6% |
| Amounts payable | 17/49 | €358,890 | €302,057 | -€56,832 | -15.8% |
| Amounts payable after more than one year | 17 | €133,719 | €93,080 | -€40,639 | -30.4% |
| Financial debts | 170/4 | €133,719 | €93,080 | -€40,639 | -30.4% |
| Amounts payable within one year | 42/48 | €224,281 | €208,142 | -€16,139 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €43,575 | €41,256 | -€2,319 | -5.3% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €25,367 | €10,846 | -€14,521 | -57.2% |
| Suppliers | 440/4 | €25,367 | €10,846 | -€14,521 | -57.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,348 | €3,284 | -€64 | -1.9% |
| Taxes | 450/3 | €364 | €272 | -€92 | -25.3% |
| Remuneration and social security | 454/9 | €2,984 | €3,012 | +€28 | +0.9% |
| Other amounts payable | 47/48 | €26,991 | €27,756 | +€766 | +2.8% |
| Accrued charges and deferred income | 492/3 | €890 | €835 | -€55 | -6.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €22,859 | €165 | -€22,694 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,053 | €72,537 | +€484 | +0.7% |
| Other operating charges | 640/8 | €2,998 | €2,935 | -€63 | -2.1% |
| Gross operating margin | 9900 | €84,365 | €81,943 | -€2,421 | -2.9% |
| Operating profit (loss) | 9901 | -€13,545 | €6,307 | +€19,852 | |
| Financial income | 75/76B | €311 | €150 | -€161 | -51.8% |
| Recurring financial income | 75 | €311 | €150 | -€161 | -51.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €13,234 | €12,241 | -€993 | -7.5% |
| Recurring financial charges | 65 | €13,234 | €12,241 | -€993 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | -€26,468 | -€5,784 | +€20,683 | +78.1% |
| Income taxes | 67/77 | €364 | €272 | -€92 | -25.3% |
| Profit (loss) for the period | 9904 | -€26,832 | -€6,056 | +€20,775 | +77.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,832 | -€6,056 | +€20,775 | +77.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.