Kwasyst: 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.
Kwasyst
Largest movements
- Intangible fixed assets +€743,791
new in 2025: €743,791
- Receivables within one year +€259,683
up €259,683 (+31.4%), from €825,751 to €1.1m
of which Trade receivables: +€259,620
- Stocks and contracts +€136,767
up €136,767 (+91.1%), from €150,093 to €286,860
- Deferred charges and accrued income +€40,607
up €40,607 (+16.8%), from €240,994 to €281,601
- Debts after one year +€800,000
up €800,000, from €0 to €800,000
of which Other amounts payable: +€800,000
- Trade debts +€406,633
up €406,633 (+236%), from €171,982 to €578,615
- Other debts -€67,273
down €67,273 (-32.2%), from €209,219 to €141,946
- Advances received +€52,843
up €52,843 (+15.4%), from €342,330 to €395,173
- Tax, wage and social debts +€50,043
up €50,043 (+70.6%), from €70,899 to €120,942
of which Taxes: +€44,744
- Staff costs +€86,496
up €86,496 (+19.2%), from €449,792 to €536,288
- Financial income -€46,578
down €46,578 (-72.2%), from €64,497 to €17,919
- Taxes -€29,591
down €29,591 (-39.1%), from €75,630 to €46,039
- Gross operating margin +€10,330
up €10,330 (+1.5%), from €676,298 to €686,628
- Other operating charges -€9,227
down €9,227 (-57.5%), from €16,043 to €6,816
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 | €1,892,237 | €3,057,865 | +€1.2m | +61.6% |
| Fixed assets | 21/28 | €636,515 | €1,363,552 | +€727,036 | +114% |
| Intangible fixed assets | 21 | - | €743,791 | +€743,791 | |
| Tangible fixed assets | 22/27 | €86,515 | €69,761 | -€16,754 | -19.4% |
| Land and buildings | 22 | - | €171 | +€171 | |
| Plant, machinery and equipment | 23 | €6,813 | €5,567 | -€1,246 | -18.3% |
| Furniture and vehicles | 24 | €79,703 | €57,920 | -€21,783 | -27.3% |
| Other tangible fixed assets | 26 | - | €6,103 | +€6,103 | |
| Financial fixed assets | 28 | €550,000 | €550,000 | = | 0.0% |
| Current assets | 29/58 | €1,255,722 | €1,694,313 | +€438,591 | +34.9% |
| Stocks and contracts in progress | 3 | €150,093 | €286,860 | +€136,767 | +91.1% |
| Stocks | 30/36 | €150,093 | €286,860 | +€136,767 | +91.1% |
| Amounts receivable within one year | 40/41 | €825,751 | €1,085,435 | +€259,683 | +31.4% |
| Trade receivables | 40 | €825,194 | €1,084,814 | +€259,620 | +31.5% |
| Other amounts receivable | 41 | €558 | €621 | +€63 | +11.3% |
| Cash at bank and in hand | 54/58 | €38,884 | €40,418 | +€1,534 | +3.9% |
| Deferred charges and accrued income | 490/1 | €240,994 | €281,601 | +€40,607 | +16.8% |
| Total equity and liabilities | 10/49 | €1,892,237 | €3,057,865 | +€1.2m | +61.6% |
| Equity | 10/15 | €1,053,446 | €1,021,189 | -€32,258 | -3.1% |
| Contributions | 10/11 | €570,000 | €570,000 | = | 0.0% |
| Reserves | 13 | €483,446 | €451,189 | -€32,258 | -6.7% |
| Distributable reserves | 133 | €483,446 | €451,189 | -€32,258 | -6.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €838,791 | €2,036,676 | +€1.2m | +143% |
| Amounts payable after more than one year | 17 | €0 | €800,000 | +€800,000 | |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | - | €800,000 | +€800,000 | |
| Amounts payable within one year | 42/48 | €838,791 | €1,236,676 | +€397,886 | +47.4% |
| Current portion of amounts payable after more than one year | 42 | €44,361 | €0 | -€44,361 | -100% |
| Trade debts | 44 | €171,982 | €578,615 | +€406,633 | +236% |
| Suppliers | 440/4 | €171,982 | €578,615 | +€406,633 | +236% |
| Advances received on contracts in progress | 46 | €342,330 | €395,173 | +€52,843 | +15.4% |
| Taxes, remuneration and social security | 45 | €70,899 | €120,942 | +€50,043 | +70.6% |
| Taxes | 450/3 | €39,330 | €84,074 | +€44,744 | +114% |
| Remuneration and social security | 454/9 | €31,569 | €36,868 | +€5,299 | +16.8% |
| Other amounts payable | 47/48 | €209,219 | €141,946 | -€67,273 | -32.2% |
| Non-recurring operating income | 76A | €20,102 | €8,967 | -€11,135 | -55.4% |
| Remuneration, social security and pensions | 62 | €449,792 | €536,288 | +€86,496 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,523 | €32,611 | -€1,912 | -5.5% |
| Other operating charges | 640/8 | €16,043 | €6,816 | -€9,227 | -57.5% |
| Gross operating margin | 9900 | €676,298 | €686,628 | +€10,330 | +1.5% |
| Operating profit (loss) | 9901 | €175,940 | €110,914 | -€65,027 | -37.0% |
| Financial income | 75/76B | €64,497 | €17,919 | -€46,578 | -72.2% |
| Recurring financial income | 75 | €64,497 | €17,919 | -€46,578 | -72.2% |
| Financial charges | 65/66B | €9,570 | €6,711 | -€2,859 | -29.9% |
| Recurring financial charges | 65 | €8,649 | €2,596 | -€6,052 | -70.0% |
| Non-recurring financial charges | 66B | €921 | €4,115 | +€3,194 | +347% |
| Profit (loss) for the period before taxes | 9903 | €230,867 | €122,121 | -€108,746 | -47.1% |
| Income taxes | 67/77 | €75,630 | €46,039 | -€29,591 | -39.1% |
| Profit (loss) for the period | 9904 | €155,237 | €76,083 | -€79,155 | -51.0% |
| Profit (loss) for the period to be appropriated | 9905 | €155,237 | €76,083 | -€79,155 | -51.0% |
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 20 October 2026 via checked.be.