AHN - KERF: 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.
AHN - KERF
Largest movements
- Cash -€46,608
down €46,608 (-30.6%), from €152,178 to €105,571
mainly Investment in fixed assets (net) (-€86,405) and Net result for the year (-€17,684)
- Profit (loss) carried forward -€17,684
down €17,684 (-44.4%), from €39,821 to €22,137
- Debts after one year -€10,115
down €10,115 (-18.0%), from €56,046 to €45,930
- Trade debts -€8,591
down €8,591 (-38.6%), from €22,277 to €13,686
- Gross operating margin -€34,256
down €34,256 (-18.3%), from €186,843 to €152,587
- Depreciation +€9,785
up €9,785 (+13.5%), from €72,281 to €82,065
- Taxes -€9,704
down €9,704 (-98.9%), from €9,813 to €109
- Staff costs +€7,367
up €7,367 (+10.7%), from €69,133 to €76,500
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 | €443,924 | €402,693 | -€41,231 | -9.3% |
| Fixed assets | 21/28 | €251,050 | €255,390 | +€4,340 | +1.7% |
| Tangible fixed assets | 22/27 | €251,050 | €255,390 | +€4,340 | +1.7% |
| Land and buildings | 22 | €168,061 | €210,045 | +€41,984 | +25.0% |
| Plant, machinery and equipment | 23 | €28,718 | €20,812 | -€7,906 | -27.5% |
| Furniture and vehicles | 24 | €54,271 | €24,533 | -€29,738 | -54.8% |
| Current assets | 29/58 | €192,874 | €147,303 | -€45,571 | -23.6% |
| Stocks and contracts in progress | 3 | €29,965 | €31,627 | +€1,663 | +5.5% |
| Stocks | 30/36 | €29,965 | €31,627 | +€1,663 | +5.5% |
| Amounts receivable within one year | 40/41 | €3,922 | €3,394 | -€528 | -13.5% |
| Trade receivables | 40 | €1,432 | - | -€1,432 | |
| Other amounts receivable | 41 | €2,490 | €3,394 | +€904 | +36.3% |
| Cash at bank and in hand | 54/58 | €152,178 | €105,571 | -€46,608 | -30.6% |
| Deferred charges and accrued income | 490/1 | €6,809 | €6,712 | -€98 | -1.4% |
| Total equity and liabilities | 10/49 | €443,924 | €402,693 | -€41,231 | -9.3% |
| Equity | 10/15 | €276,881 | €259,197 | -€17,684 | -6.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €218,460 | €218,460 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €216,600 | €216,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,821 | €22,137 | -€17,684 | -44.4% |
| Amounts payable | 17/49 | €167,043 | €143,496 | -€23,547 | -14.1% |
| Amounts payable after more than one year | 17 | €56,046 | €45,930 | -€10,115 | -18.0% |
| Financial debts | 170/4 | €56,046 | €45,930 | -€10,115 | -18.0% |
| Amounts payable within one year | 42/48 | €110,997 | €97,565 | -€13,431 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €43,918 | €44,603 | +€685 | +1.6% |
| Trade debts | 44 | €22,277 | €13,686 | -€8,591 | -38.6% |
| Suppliers | 440/4 | €22,277 | €13,686 | -€8,591 | -38.6% |
| Advances received on contracts in progress | 46 | €120 | €200 | +€80 | +66.7% |
| Taxes, remuneration and social security | 45 | €32,136 | €28,549 | -€3,587 | -11.2% |
| Taxes | 450/3 | €16,234 | €15,165 | -€1,070 | -6.6% |
| Remuneration and social security | 454/9 | €15,902 | €13,384 | -€2,518 | -15.8% |
| Other amounts payable | 47/48 | €12,545 | €10,528 | -€2,018 | -16.1% |
| Remuneration, social security and pensions | 62 | €69,133 | €76,500 | +€7,367 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,281 | €82,065 | +€9,785 | +13.5% |
| Other operating charges | 640/8 | €4,159 | €3,921 | -€238 | -5.7% |
| Non-recurring operating charges | 66A | €166 | €653 | +€487 | +293.1% |
| Gross operating margin | 9900 | €186,843 | €152,587 | -€34,256 | -18.3% |
| Operating profit (loss) | 9901 | €41,104 | -€10,553 | -€51,657 | |
| Financial income | 75/76B | €9 | €11 | +€1 | +14.4% |
| Recurring financial income | 75 | €9 | €11 | +€1 | +14.4% |
| Financial charges | 65/66B | €7,537 | €7,033 | -€504 | -6.7% |
| Recurring financial charges | 65 | €7,537 | €7,033 | -€504 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €33,576 | -€17,575 | -€51,151 | |
| Income taxes | 67/77 | €9,813 | €109 | -€9,704 | -98.9% |
| Profit (loss) for the period | 9904 | €23,764 | -€17,684 | -€41,448 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,764 | -€17,684 | -€41,448 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.