KESSLER: 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.
KESSLER
Largest movements
- Receivables within one year +€79,855
up €79,855 (+172%), from €46,408 to €126,263
- Stocks and contracts -€70,464
down €70,464 (-30.4%), from €231,994 to €161,531
- Current investments +€21,825
up €21,825 (+33.3%), from €65,503 to €87,328
- Tangible fixed assets -€7,003
down €7,003 (-6.8%), from €102,602 to €95,599
of which Furniture and vehicles: -€5,323
- Trade debts -€41,508
down €41,508 (-79.6%), from €52,122 to €10,613
- Profit (loss) carried forward +€39,278
up €39,278, from -€31,228 to €8,050
- Tax, wage and social debts +€15,788
up €15,788 (+265%), from €5,964 to €21,753
- Other debts +€12,511
up €12,511 (+31.4%), from €39,825 to €52,336
- Gross operating margin +€44,455
up €44,455 (+92.7%), from €47,933 to €92,389
- Taxes +€8,921
up €8,921 (+102%), from €8,749 to €17,670
- Financial charges -€2,552
down €2,552 (-31.6%), from €8,087 to €5,535
- Depreciation +€1,910
up €1,910 (+23.6%), from €8,085 to €9,995
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €446,507 | €470,720 | +€24,213 | +5.4% |
| Fixed assets | 21/28 | €102,602 | €95,599 | -€7,003 | -6.8% |
| Tangible fixed assets | 22/27 | €102,602 | €95,599 | -€7,003 | -6.8% |
| Land and buildings | 22 | €80,968 | €78,263 | -€2,705 | -3.3% |
| Plant, machinery and equipment | 23 | €2,025 | €3,050 | +€1,025 | +50.6% |
| Furniture and vehicles | 24 | €19,609 | €14,285 | -€5,323 | -27.1% |
| Current assets | 29/58 | €343,905 | €375,122 | +€31,217 | +9.1% |
| Stocks and contracts in progress | 3 | €231,994 | €161,531 | -€70,464 | -30.4% |
| Stocks | 30/36 | €231,994 | €161,531 | -€70,464 | -30.4% |
| Amounts receivable within one year | 40/41 | €46,408 | €126,263 | +€79,855 | +172% |
| Trade receivables | 40 | €46,408 | €126,263 | +€79,855 | +172% |
| Current investments | 50/53 | €65,503 | €87,328 | +€21,825 | +33.3% |
| Total equity and liabilities | 10/49 | €446,507 | €470,720 | +€24,213 | +5.4% |
| Equity | 10/15 | €266,740 | €306,018 | +€39,278 | +14.7% |
| Contributions | 10/11 | €297,968 | €297,968 | = | 0.0% |
| Capital | 10 | €297,968 | €297,968 | = | 0.0% |
| Issued capital | 100 | €297,968 | €297,968 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,228 | €8,050 | +€39,278 | |
| Amounts payable | 17/49 | €179,767 | €164,703 | -€15,065 | -8.4% |
| Amounts payable within one year | 42/48 | €179,767 | €164,703 | -€15,065 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €2,171 | - | -€2,171 | |
| Financial debts | 43 | €79,685 | €80,000 | +€315 | +0.4% |
| Credit institutions | 430/8 | €79,685 | €80,000 | +€315 | +0.4% |
| Trade debts | 44 | €52,122 | €10,613 | -€41,508 | -79.6% |
| Suppliers | 440/4 | €52,122 | €10,613 | -€41,508 | -79.6% |
| Taxes, remuneration and social security | 45 | €5,964 | €21,753 | +€15,788 | +265% |
| Remuneration and social security | 454/9 | €5,964 | €21,753 | +€15,788 | +265% |
| Other amounts payable | 47/48 | €39,825 | €52,336 | +€12,511 | +31.4% |
| Remuneration, social security and pensions | 62 | €12,264 | €13,051 | +€787 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,085 | €9,995 | +€1,910 | +23.6% |
| Other operating charges | 640/8 | €6,363 | €5,444 | -€919 | -14.4% |
| Gross operating margin | 9900 | €47,933 | €92,389 | +€44,455 | +92.7% |
| Operating profit (loss) | 9901 | €21,221 | €63,898 | +€42,678 | +201% |
| Financial income | 75/76B | €694 | €585 | -€110 | -15.8% |
| Recurring financial income | 75 | €694 | €585 | -€110 | -15.8% |
| Financial charges | 65/66B | €8,087 | €5,535 | -€2,552 | -31.6% |
| Recurring financial charges | 65 | €8,087 | €5,535 | -€2,552 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €13,828 | €58,948 | +€45,120 | +326% |
| Income taxes | 67/77 | €8,749 | €17,670 | +€8,921 | +102% |
| Profit (loss) for the period | 9904 | €5,079 | €41,278 | +€36,199 | +713% |
| Profit (loss) for the period to be appropriated | 9905 | €5,079 | €41,278 | +€36,199 | +713% |
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 18 October 2026 via checked.be.