Andreas De Kerpel: what changed
Andreas De Kerpel
Largest movements
- Cash +€240,726
up €240,726 (+153%), from €157,334 to €398,060
mainly Other debts (+€410,078) and Net result for the year (+€127,708)
- Receivables within one year -€81,534
down €81,534 (-52.6%), from €154,957 to €73,423
of which Trade receivables: -€101,426
- Current investments -€64,000
down €64,000 (-100%), from €64,000 to €0
- Tangible fixed assets -€21,482
down €21,482 (-39.0%), from €55,113 to €33,630
of which Plant, machinery and equipment: -€10,786
- Other debts +€410,078
up €410,078 (+18,507%), from €2,216 to €412,294
- Reserves -€344,034
down €344,034 (-100%), from €344,034 to €0
- Gross operating margin +€23,193
up €23,193 (+13.9%), from €166,463 to €189,656
- Taxes +€5,370
up €5,370 (+15.7%), from €34,126 to €39,496
- Depreciation -€3,851
down €3,851 (-15.2%), from €25,333 to €21,482
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €441,435 | €514,075 | +€72,640 | +16.5% |
| Fixed assets | 21/28 | €55,113 | €33,630 | -€21,482 | -39.0% |
| Tangible fixed assets | 22/27 | €55,113 | €33,630 | -€21,482 | -39.0% |
| Plant, machinery and equipment | 23 | €29,422 | €18,636 | -€10,786 | -36.7% |
| Furniture and vehicles | 24 | €25,691 | €14,994 | -€10,696 | -41.6% |
| Current assets | 29/58 | €386,322 | €480,445 | +€94,122 | +24.4% |
| Stocks and contracts in progress | 3 | €5,400 | €4,257 | -€1,143 | -21.2% |
| Stocks | 30/36 | €5,400 | €4,257 | -€1,143 | -21.2% |
| Amounts receivable within one year | 40/41 | €154,957 | €73,423 | -€81,534 | -52.6% |
| Trade receivables | 40 | €151,149 | €49,723 | -€101,426 | -67.1% |
| Other amounts receivable | 41 | €3,808 | €23,700 | +€19,892 | +522% |
| Current investments | 50/53 | €64,000 | €0 | -€64,000 | -100% |
| Cash at bank and in hand | 54/58 | €157,334 | €398,060 | +€240,726 | +153% |
| Deferred charges and accrued income | 490/1 | €4,632 | €4,705 | +€72 | +1.6% |
| Total equity and liabilities | 10/49 | €441,435 | €514,075 | +€72,640 | +16.5% |
| Equity | 10/15 | €354,034 | €10,000 | -€344,034 | -97.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €344,034 | €0 | -€344,034 | -100% |
| Distributable reserves | 133 | €344,034 | €0 | -€344,034 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €87,401 | €504,075 | +€416,675 | +477% |
| Amounts payable within one year | 42/48 | €87,401 | €503,311 | +€415,910 | +476% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €78,631 | €80,743 | +€2,112 | +2.7% |
| Suppliers | 440/4 | €78,631 | €80,743 | +€2,112 | +2.7% |
| Taxes, remuneration and social security | 45 | €6,554 | €10,274 | +€3,721 | +56.8% |
| Taxes | 450/3 | €6,554 | €7,605 | +€1,051 | +16.0% |
| Remuneration and social security | 454/9 | €0 | €2,669 | +€2,669 | |
| Other amounts payable | 47/48 | €2,216 | €412,294 | +€410,078 | +18,507% |
| Accrued charges and deferred income | 492/3 | - | €764 | +€764 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,333 | €21,482 | -€3,851 | -15.2% |
| Other operating charges | 640/8 | €1,819 | €1,520 | -€298 | -16.4% |
| Gross operating margin | 9900 | €166,463 | €189,656 | +€23,193 | +13.9% |
| Operating profit (loss) | 9901 | €139,311 | €166,653 | +€27,342 | +19.6% |
| Financial income | 75/76B | €500 | €926 | +€427 | +85.4% |
| Recurring financial income | 75 | €500 | €926 | +€427 | +85.4% |
| Financial charges | 65/66B | €185 | €375 | +€190 | +103% |
| Recurring financial charges | 65 | €185 | €375 | +€190 | +103% |
| Profit (loss) for the period before taxes | 9903 | €139,626 | €167,205 | +€27,579 | +19.8% |
| Income taxes | 67/77 | €34,126 | €39,496 | +€5,370 | +15.7% |
| Profit (loss) for the period | 9904 | €105,500 | €127,708 | +€22,209 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €105,500 | €127,708 | +€22,209 | +21.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.