DR KEMAYOU: 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.
DR KEMAYOU
Largest movements
- Cash +€23,297
up €23,297 (+214%), from €10,904 to €34,201
mainly Net result for the year (+€21,078) and Depreciation (+€13,517)
- Tangible fixed assets -€8,632
down €8,632 (-16.8%), from €51,437 to €42,805
of which Furniture and vehicles: -€12,314
- Receivables within one year +€5,206
up €5,206 (+13.7%), from €38,057 to €43,263
of which Other amounts receivable: +€9,727
- Reserves +€21,078
up €21,078 (+62.6%), from €33,661 to €54,739
- Debts after one year -€12,287
down €12,287 (-31.8%), from €38,646 to €26,359
- Tax, wage and social debts +€8,557
up €8,557 (+64.3%), from €13,318 to €21,875
- Trade debts +€1,963
new in 2025: €1,963
- Gross operating margin -€18,701
down €18,701 (-28.1%), from €66,662 to €47,961
- Other operating charges -€4,880
down €4,880 (-84.6%), from €5,765 to €885
- Taxes -€2,938
down €2,938 (-26.1%), from €11,257 to €8,319
- Staff costs +€1,870
up €1,870 (+3,740%), from €50 to €1,920
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 | €100,398 | €120,269 | +€19,871 | +19.8% |
| Fixed assets | 21/28 | €51,437 | €42,805 | -€8,632 | -16.8% |
| Tangible fixed assets | 22/27 | €51,437 | €42,805 | -€8,632 | -16.8% |
| Plant, machinery and equipment | 23 | €2,654 | €6,336 | +€3,682 | +139% |
| Furniture and vehicles | 24 | €48,783 | €36,469 | -€12,314 | -25.2% |
| Current assets | 29/58 | €48,961 | €77,464 | +€28,503 | +58.2% |
| Amounts receivable within one year | 40/41 | €38,057 | €43,263 | +€5,206 | +13.7% |
| Trade receivables | 40 | €16,595 | €12,074 | -€4,521 | -27.2% |
| Other amounts receivable | 41 | €21,462 | €31,189 | +€9,727 | +45.3% |
| Cash at bank and in hand | 54/58 | €10,904 | €34,201 | +€23,297 | +214% |
| Total equity and liabilities | 10/49 | €100,398 | €120,269 | +€19,871 | +19.8% |
| Equity | 10/15 | €36,661 | €57,739 | +€21,078 | +57.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €33,661 | €54,739 | +€21,078 | +62.6% |
| Distributable reserves | 133 | €33,661 | €54,739 | +€21,078 | +62.6% |
| Amounts payable | 17/49 | €63,737 | €62,530 | -€1,207 | -1.9% |
| Amounts payable after more than one year | 17 | €38,646 | €26,359 | -€12,287 | -31.8% |
| Financial debts | 170/4 | €38,646 | €26,359 | -€12,287 | -31.8% |
| Amounts payable within one year | 42/48 | €25,046 | €36,125 | +€11,079 | +44.2% |
| Current portion of amounts payable after more than one year | 42 | €11,728 | €12,287 | +€559 | +4.8% |
| Trade debts | 44 | - | €1,963 | +€1,963 | |
| Suppliers | 440/4 | - | €1,963 | +€1,963 | |
| Taxes, remuneration and social security | 45 | €13,318 | €21,875 | +€8,557 | +64.3% |
| Taxes | 450/3 | €13,318 | €21,875 | +€8,557 | +64.3% |
| Accrued charges and deferred income | 492/3 | €45 | €46 | +€1 | +2.2% |
| Remuneration, social security and pensions | 62 | €50 | €1,920 | +€1,870 | +3,740% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,175 | €13,517 | +€342 | +2.6% |
| Other operating charges | 640/8 | €5,765 | €885 | -€4,880 | -84.6% |
| Gross operating margin | 9900 | €66,662 | €47,961 | -€18,701 | -28.1% |
| Operating profit (loss) | 9901 | €47,672 | €31,639 | -€16,033 | -33.6% |
| Financial charges | 65/66B | €2,754 | €2,242 | -€512 | -18.6% |
| Recurring financial charges | 65 | €2,754 | €2,242 | -€512 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €44,918 | €29,397 | -€15,521 | -34.6% |
| Income taxes | 67/77 | €11,257 | €8,319 | -€2,938 | -26.1% |
| Profit (loss) for the period | 9904 | €33,661 | €21,078 | -€12,583 | -37.4% |
| Profit (loss) for the period to be appropriated | 9905 | €33,661 | €21,078 | -€12,583 | -37.4% |
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 26 October 2026 via checked.be.