DR. CARMEN KERKHOFS: what changed
What changed
DR. CARMEN KERKHOFS
filed annual accounts (NBB)
Net result for the year
€411,531
2024 · €280,641+€130,890
Equity
€6,172
2024 · €5,641+€531
Cash
€31,208
2024 · €87,400-€56,192
Balance sheet total
€353,086
2024 · €296,599+€56,487
Largest movements
Assets
- Deferred charges and accrued income +€122,778
up €122,778 (+74.2%), from €165,405 to €288,182
- Cash -€56,192
down €56,192 (-64.3%), from €87,400 to €31,208
mainly Contributions, distributions and other (-€411,000) and Deferred charges and accrued income (-€122,778)
- Tangible fixed assets -€11,442
down €11,442 (-29.6%), from €38,668 to €27,226
Equity and liabilities
- Tax, wage and social debts +€50,030
up €50,030 (+99.9%), from €50,064 to €100,094
- Other debts +€5,600
up €5,600 (+2.4%), from €238,000 to €243,600
Income statement
- Gross operating margin +€184,041
up €184,041 (+48.8%), from €377,407 to €561,449
- Taxes +€46,251
up €46,251 (+52.6%), from €87,879 to €134,130
- Financial income -€7,250
down €7,250 (-98.2%), from €7,384 to €134
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.
Result 2024
€280,641
Gross operating margin
+€184,041
Staff costs
+€1,289
Depreciation
-€373
Other operating charges
-€472
Financial income
-€7,250
Financial charges
-€94
Taxes
-€46,251
Result 2025
€411,531
raises the resultlowers the result
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.
From operations
+€357,811
Investment
-€3,004
Financing
-€411,000
Cash 2024
€87,400
From operations (derived)
+€357,811
Net result for the year
+€411,531
Depreciation
+€14,445
Receivables within one year
-€1,343
Deferred charges and accrued income
-€122,778
Trade debts
+€326
Tax, wage and social debts
+€50,030
Other debts
+€5,600
Investment (derived)
-€3,004
Investment in fixed assets (net)
-€3,004
Financing
-€411,000
Contributions, distributions and other
-€411,000
Cash 2025
€31,208
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €296,599 | €353,086 | +€56,487 | +19.0% |
| Fixed assets | 21/28 | €39,168 | €27,726 | -€11,442 | -29.2% |
| Tangible fixed assets | 22/27 | €38,668 | €27,226 | -€11,442 | -29.6% |
| Furniture and vehicles | 24 | €38,668 | €27,226 | -€11,442 | -29.6% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €257,431 | €325,360 | +€67,929 | +26.4% |
| Amounts receivable within one year | 40/41 | €4,627 | €5,970 | +€1,343 | +29.0% |
| Trade receivables | 40 | €2,900 | €2,900 | = | 0.0% |
| Other amounts receivable | 41 | €1,727 | €3,070 | +€1,343 | +77.8% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €87,400 | €31,208 | -€56,192 | -64.3% |
| Deferred charges and accrued income | 490/1 | €165,405 | €288,182 | +€122,778 | +74.2% |
| Total equity and liabilities | 10/49 | €296,599 | €353,086 | +€56,487 | +19.0% |
| Equity | 10/15 | €5,641 | €6,172 | +€531 | +9.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €641 | €1,172 | +€531 | +82.8% |
| Distributable reserves | 133 | €641 | €1,172 | +€531 | +82.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €290,958 | €346,914 | +€55,956 | +19.2% |
| Amounts payable within one year | 42/48 | €290,958 | €346,914 | +€55,956 | +19.2% |
| Trade debts | 44 | €2,894 | €3,220 | +€326 | +11.3% |
| Suppliers | 440/4 | €2,894 | €3,220 | +€326 | +11.3% |
| Taxes, remuneration and social security | 45 | €50,064 | €100,094 | +€50,030 | +99.9% |
| Taxes | 450/3 | €50,064 | €100,094 | +€50,030 | +99.9% |
| Other amounts payable | 47/48 | €238,000 | €243,600 | +€5,600 | +2.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,289 | €0 | -€1,289 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,072 | €14,445 | +€373 | +2.7% |
| Other operating charges | 640/8 | €785 | €1,257 | +€472 | +60.2% |
| Gross operating margin | 9900 | €377,407 | €561,449 | +€184,041 | +48.8% |
| Operating profit (loss) | 9901 | €361,262 | €545,747 | +€184,485 | +51.1% |
| Financial income | 75/76B | €7,384 | €134 | -€7,250 | -98.2% |
| Recurring financial income | 75 | €7,384 | €134 | -€7,250 | -98.2% |
| Financial charges | 65/66B | €126 | €219 | +€94 | +74.3% |
| Recurring financial charges | 65 | €126 | €219 | +€94 | +74.3% |
| Profit (loss) for the period before taxes | 9903 | €368,520 | €545,661 | +€177,141 | +48.1% |
| Income taxes | 67/77 | €87,879 | €134,130 | +€46,251 | +52.6% |
| Profit (loss) for the period | 9904 | €280,641 | €411,531 | +€130,890 | +46.6% |
| Profit (loss) for the period to be appropriated | 9905 | €280,641 | €411,531 | +€130,890 | +46.6% |
Next steps
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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 3 November 2026 via checked.be.