GARAGE KELGTERMANS: what changed
What changed
GARAGE KELGTERMANS
NACE 95.311, General maintenance and repair of cars and light vans (up to 3.5 tonnes)
filed annual accounts (NBB)
Net result for the year
€274,537
2024 · €166,954+€107,583
Equity
€953,963
2024 · €779,426+€174,537
Cash
€639,043
2024 · €203,207+€435,836
Balance sheet total
€2.0m
2024 · €1.8m+€202,832
Largest movements
Assets
- Cash +€435,836
up €435,836 (+214%), from €203,207 to €639,043
mainly Net result for the year (+€274,537) and Stocks and contracts (+€179,403)
- Stocks and contracts -€179,403
down €179,403 (-15.6%), from €1.1m to €967,642
- Receivables within one year -€77,528
down €77,528 (-29.7%), from €261,034 to €183,506
of which Other amounts receivable: -€44,890
- Tangible fixed assets +€27,297
up €27,297 (+12.6%), from €216,485 to €243,782
of which Plant, machinery and equipment: +€32,990
Equity and liabilities
- Reserves +€174,537
up €174,537 (+30.8%), from €567,426 to €741,963
of which Distributable reserves: +€174,537
- Advances received -€114,823
down €114,823 (-76.2%), from €150,717 to €35,894
- Trade debts +€103,892
up €103,892 (+27.5%), from €377,213 to €481,105
- Tax, wage and social debts +€42,634
up €42,634 (+35.5%), from €120,246 to €162,881
of which Taxes: +€27,399
- Debts after one year -€24,455
down €24,455 (-7.9%), from €311,415 to €286,961
Income statement
- Gross operating margin +€224,118
up €224,118 (+29.8%), from €752,883 to €977,001
- Staff costs +€77,073
up €77,073 (+16.2%), from €475,351 to €552,424
- Taxes +€41,980
up €41,980 (+75.7%), from €55,421 to €97,401
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
€166,954
Gross operating margin
+€224,118
Staff costs
-€77,073
Depreciation
-€1,582
Write-downs
+€1,350
Other operating charges
-€3,674
Financial income
+€3,090
Financial charges
+€3,336
Taxes
-€41,980
Result 2025
€274,537
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
+€603,591
Investment
-€44,361
Financing
-€123,394
Cash 2024
€203,207
From operations (derived)
+€603,591
Net result for the year
+€274,537
Depreciation
+€17,065
Stocks and contracts
+€179,403
Receivables within one year
+€77,528
Deferred charges and accrued income
+€3,370
Trade debts
+€103,892
Tax, wage and social debts
+€42,634
Advances received
-€114,823
Other debts
+€19,986
Investment (derived)
-€44,361
Investment in fixed assets (net)
-€44,361
Financing
-€123,394
Debts after one year
-€24,455
Current portion of long-term debt
+€1,060
Contributions, distributions and other
-€100,000
Cash 2025
€639,043
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,842,426 | €2,045,258 | +€202,832 | +11.0% |
| Fixed assets | 21/28 | €221,756 | €249,052 | +€27,297 | +12.3% |
| Tangible fixed assets | 22/27 | €216,485 | €243,782 | +€27,297 | +12.6% |
| Land and buildings | 22 | €143,219 | €144,000 | +€781 | +0.5% |
| Plant, machinery and equipment | 23 | €59,107 | €92,097 | +€32,990 | +55.8% |
| Furniture and vehicles | 24 | €14,160 | €7,685 | -€6,475 | -45.7% |
| Financial fixed assets | 28 | €5,270 | €5,270 | = | 0.0% |
| Current assets | 29/58 | €1,620,670 | €1,796,205 | +€175,535 | +10.8% |
| Stocks and contracts in progress | 3 | €1,147,045 | €967,642 | -€179,403 | -15.6% |
| Stocks | 30/36 | €1,147,045 | €967,642 | -€179,403 | -15.6% |
| Amounts receivable within one year | 40/41 | €261,034 | €183,506 | -€77,528 | -29.7% |
| Trade receivables | 40 | €133,367 | €100,730 | -€32,637 | -24.5% |
| Other amounts receivable | 41 | €127,667 | €82,776 | -€44,890 | -35.2% |
| Cash at bank and in hand | 54/58 | €203,207 | €639,043 | +€435,836 | +214% |
| Deferred charges and accrued income | 490/1 | €9,384 | €6,014 | -€3,370 | -35.9% |
| Total equity and liabilities | 10/49 | €1,842,426 | €2,045,258 | +€202,832 | +11.0% |
| Equity | 10/15 | €779,426 | €953,963 | +€174,537 | +22.4% |
| Contributions | 10/11 | €212,000 | €212,000 | = | 0.0% |
| Capital | 10 | €212,000 | €212,000 | = | 0.0% |
| Issued capital | 100 | €212,000 | €212,000 | = | 0.0% |
| Reserves | 13 | €567,426 | €741,963 | +€174,537 | +30.8% |
| Non-distributable reserves | 130/1 | €21,200 | €21,200 | = | 0.0% |
| Legal reserve | 130 | €21,200 | €21,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,311 | €8,311 | = | 0.0% |
| Distributable reserves | 133 | €537,915 | €712,452 | +€174,537 | +32.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,063,000 | €1,091,295 | +€28,295 | +2.7% |
| Amounts payable after more than one year | 17 | €311,415 | €286,961 | -€24,455 | -7.9% |
| Financial debts | 170/4 | €311,415 | €286,961 | -€24,455 | -7.9% |
| Amounts payable within one year | 42/48 | €751,585 | €804,334 | +€52,750 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €23,394 | €24,455 | +€1,060 | +4.5% |
| Trade debts | 44 | €377,213 | €481,105 | +€103,892 | +27.5% |
| Suppliers | 440/4 | €377,213 | €481,105 | +€103,892 | +27.5% |
| Advances received on contracts in progress | 46 | €150,717 | €35,894 | -€114,823 | -76.2% |
| Taxes, remuneration and social security | 45 | €120,246 | €162,881 | +€42,634 | +35.5% |
| Taxes | 450/3 | €30,693 | €58,092 | +€27,399 | +89.3% |
| Remuneration and social security | 454/9 | €89,553 | €104,789 | +€15,235 | +17.0% |
| Other amounts payable | 47/48 | €80,014 | €100,000 | +€19,986 | +25.0% |
| Remuneration, social security and pensions | 62 | €475,351 | €552,424 | +€77,073 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,482 | €17,065 | +€1,582 | +10.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,350 | - | -€1,350 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €17,704 | €21,378 | +€3,674 | +20.8% |
| Gross operating margin | 9900 | €752,883 | €977,001 | +€224,118 | +29.8% |
| Operating profit (loss) | 9901 | €242,997 | €386,134 | +€143,137 | +58.9% |
| Financial income | 75/76B | €836 | €3,926 | +€3,090 | +370% |
| Recurring financial income | 75 | €625 | €3,926 | +€3,301 | +528% |
| Non-recurring financial income | 76B | €211 | - | -€211 | |
| Financial charges | 65/66B | €21,458 | €18,122 | -€3,336 | -15.5% |
| Recurring financial charges | 65 | €21,223 | €18,122 | -€3,101 | -14.6% |
| Non-recurring financial charges | 66B | €235 | - | -€235 | |
| Profit (loss) for the period before taxes | 9903 | €222,375 | €371,938 | +€149,564 | +67.3% |
| Income taxes | 67/77 | €55,421 | €97,401 | +€41,980 | +75.7% |
| Profit (loss) for the period | 9904 | €166,954 | €274,537 | +€107,583 | +64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €166,954 | €274,537 | +€107,583 | +64.4% |
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 1 November 2026 via checked.be.