funéKERF: 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.
funéKERF
Largest movements
- Tangible fixed assets -€129,387
down €129,387 (-7.9%), from €1.6m to €1.5m
of which Land and buildings: -€112,033
- Cash -€127,859
down €127,859 (-60.0%), from €213,168 to €85,309
mainly Contributions, distributions and other (-€293,384) and Debts after one year (-€162,238)
- Other debts +€309,989
up €309,989 (+119%), from €260,854 to €570,843
- Reserves -€293,384
down €293,384 (-51.3%), from €571,569 to €278,184
of which Distributable reserves: -€293,384
- Debts after one year -€162,238
down €162,238 (-26.0%), from €623,577 to €461,339
- Trade debts -€76,626
down €76,626 (-72.1%), from €106,204 to €29,578
- Profit (loss) carried forward -€22,919
new in 2025: -€22,919
- Staff costs +€63,651
up €63,651 (+23.2%), from €273,786 to €337,437
- Gross operating margin +€62,291
up €62,291 (+13.8%), from €450,700 to €512,991
- Financial charges +€38,152
up €38,152 (+252%), from €15,149 to €53,301
- Financial income +€7,970
up €7,970 (+14,324%), from €56 to €8,025
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 | €1,979,673 | €1,721,494 | -€258,179 | -13.0% |
| Fixed assets | 21/28 | €1,641,854 | €1,512,466 | -€129,387 | -7.9% |
| Tangible fixed assets | 22/27 | €1,637,604 | €1,508,216 | -€129,387 | -7.9% |
| Land and buildings | 22 | €1,600,892 | €1,488,859 | -€112,033 | -7.0% |
| Furniture and vehicles | 24 | €36,712 | €19,357 | -€17,355 | -47.3% |
| Financial fixed assets | 28 | €4,250 | €4,250 | = | 0.0% |
| Current assets | 29/58 | €337,819 | €209,027 | -€128,792 | -38.1% |
| Stocks and contracts in progress | 3 | €4,947 | €4,804 | -€143 | -2.9% |
| Stocks | 30/36 | €4,947 | €4,804 | -€143 | -2.9% |
| Amounts receivable within one year | 40/41 | €109,263 | €113,496 | +€4,233 | +3.9% |
| Trade receivables | 40 | €45,059 | €90,251 | +€45,192 | +100% |
| Other amounts receivable | 41 | €64,204 | €23,244 | -€40,960 | -63.8% |
| Cash at bank and in hand | 54/58 | €213,168 | €85,309 | -€127,859 | -60.0% |
| Deferred charges and accrued income | 490/1 | €10,441 | €5,419 | -€5,022 | -48.1% |
| Total equity and liabilities | 10/49 | €1,979,673 | €1,721,494 | -€258,179 | -13.0% |
| Equity | 10/15 | €590,169 | €273,865 | -€316,304 | -53.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €571,569 | €278,184 | -€293,384 | -51.3% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €534,069 | €240,684 | -€293,384 | -54.9% |
| Profit (loss) carried forward | 14 | - | -€22,919 | -€22,919 | |
| Amounts payable | 17/49 | €1,389,504 | €1,447,629 | +€58,125 | +4.2% |
| Amounts payable after more than one year | 17 | €623,577 | €461,339 | -€162,238 | -26.0% |
| Financial debts | 170/4 | €623,577 | €461,339 | -€162,238 | -26.0% |
| Amounts payable within one year | 42/48 | €733,158 | €966,984 | +€233,826 | +31.9% |
| Current portion of amounts payable after more than one year | 42 | €166,615 | €162,238 | -€4,377 | -2.6% |
| Trade debts | 44 | €106,204 | €29,578 | -€76,626 | -72.1% |
| Suppliers | 440/4 | €106,204 | €29,578 | -€76,626 | -72.1% |
| Advances received on contracts in progress | 46 | €149,070 | €159,110 | +€10,040 | +6.7% |
| Taxes, remuneration and social security | 45 | €50,416 | €45,215 | -€5,200 | -10.3% |
| Taxes | 450/3 | €13,639 | €13,176 | -€463 | -3.4% |
| Remuneration and social security | 454/9 | €36,777 | €32,039 | -€4,738 | -12.9% |
| Other amounts payable | 47/48 | €260,854 | €570,843 | +€309,989 | +119% |
| Accrued charges and deferred income | 492/3 | €32,770 | €19,306 | -€13,464 | -41.1% |
| Remuneration, social security and pensions | 62 | €273,786 | €337,437 | +€63,651 | +23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,162 | €129,387 | -€774 | -0.6% |
| Other operating charges | 640/8 | €22,160 | €23,701 | +€1,542 | +7.0% |
| Gross operating margin | 9900 | €450,700 | €512,991 | +€62,291 | +13.8% |
| Operating profit (loss) | 9901 | €24,593 | €22,466 | -€2,128 | -8.7% |
| Financial income | 75/76B | €56 | €8,025 | +€7,970 | +14,324% |
| Recurring financial income | 75 | €56 | €8,025 | +€7,970 | +14,324% |
| Financial charges | 65/66B | €15,149 | €53,301 | +€38,152 | +252% |
| Recurring financial charges | 65 | €15,149 | €53,301 | +€38,152 | +252% |
| Profit (loss) for the period before taxes | 9903 | €9,500 | -€22,810 | -€32,310 | |
| Income taxes | 67/77 | €3,897 | €109 | -€3,788 | -97.2% |
| Profit (loss) for the period | 9904 | €5,603 | -€22,919 | -€28,522 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,603 | -€22,919 | -€28,522 |
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 14 October 2026 via checked.be.