Just Kempen: 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.
Just Kempen
Largest movements
- Current investments -€470,000
down €470,000 (-49.2%), from €955,250 to €485,250
- Financial fixed assets -€173,216
down €173,216 (-100%), from €173,216 to €0
- Cash +€102,798
up €102,798 (+60.2%), from €170,782 to €273,581
mainly Net result for the year (+€781,147) and Current investments (+€470,000)
- Tangible fixed assets -€32,533
down €32,533 (-40.5%), from €80,308 to €47,774
of which Furniture and vehicles: -€36,292
- Tax, wage and social debts -€310,495
down €310,495 (-52.4%), from €592,680 to €282,185
of which Taxes: -€319,910
- Provisions -€173,216
down €173,216 (-100%), from €173,216 to €0
- Reserves -€154,853
down €154,853 (-26.6%), from €581,987 to €427,134
- Other debts +€93,600
up €93,600, from €0 to €93,600
- Trade debts -€16,492
down €16,492 (-55.6%), from €29,673 to €13,181
- Provisions -€272,286
down €272,286, from €99,069 to -€173,216
- Gross operating margin -€161,327
down €161,327 (-9.4%), from €1.7m to €1.5m
- Staff costs -€70,932
down €70,932 (-9.0%), from €784,295 to €713,363
- Financial income -€25,991
down €25,991 (-77.8%), from €33,409 to €7,417
- Taxes -€23,860
down €23,860 (-10.1%), from €236,819 to €212,959
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 | €1,379,556 | €818,100 | -€561,456 | -40.7% |
| Fixed assets | 21/28 | €253,524 | €47,774 | -€205,750 | -81.2% |
| Tangible fixed assets | 22/27 | €80,308 | €47,774 | -€32,533 | -40.5% |
| Plant, machinery and equipment | 23 | - | €3,758 | +€3,758 | |
| Furniture and vehicles | 24 | €80,308 | €44,016 | -€36,292 | -45.2% |
| Financial fixed assets | 28 | €173,216 | €0 | -€173,216 | -100% |
| Current assets | 29/58 | €1,126,032 | €770,326 | -€355,707 | -31.6% |
| Amounts receivable within one year | 40/41 | €0 | €11,495 | +€11,495 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €11,495 | +€11,495 | |
| Current investments | 50/53 | €955,250 | €485,250 | -€470,000 | -49.2% |
| Cash at bank and in hand | 54/58 | €170,782 | €273,581 | +€102,798 | +60.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,379,556 | €818,100 | -€561,456 | -40.7% |
| Equity | 10/15 | €583,987 | €429,134 | -€154,853 | -26.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €581,987 | €427,134 | -€154,853 | -26.6% |
| Distributable reserves | 133 | €581,987 | €427,134 | -€154,853 | -26.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €173,216 | €0 | -€173,216 | -100% |
| Provisions for liabilities and charges | 160/5 | €173,216 | €0 | -€173,216 | -100% |
| Other liabilities and charges | 164/5 | €173,216 | €0 | -€173,216 | -100% |
| Amounts payable | 17/49 | €622,353 | €388,966 | -€233,387 | -37.5% |
| Amounts payable within one year | 42/48 | €622,353 | €388,966 | -€233,387 | -37.5% |
| Trade debts | 44 | €29,673 | €13,181 | -€16,492 | -55.6% |
| Suppliers | 440/4 | €29,673 | €13,181 | -€16,492 | -55.6% |
| Taxes, remuneration and social security | 45 | €592,680 | €282,185 | -€310,495 | -52.4% |
| Taxes | 450/3 | €529,070 | €209,160 | -€319,910 | -60.5% |
| Remuneration and social security | 454/9 | €63,610 | €73,025 | +€9,415 | +14.8% |
| Other amounts payable | 47/48 | €0 | €93,600 | +€93,600 | |
| Non-recurring operating income | 76A | - | €18,250 | +€18,250 | |
| Remuneration, social security and pensions | 62 | €784,295 | €713,363 | -€70,932 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,170 | €16,482 | -€19,688 | -54.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €99,069 | -€173,216 | -€272,286 | |
| Other operating charges | 640/8 | €1,978 | €2,519 | +€541 | +27.3% |
| Gross operating margin | 9900 | €1,707,708 | €1,546,381 | -€161,327 | -9.4% |
| Operating profit (loss) | 9901 | €786,195 | €987,233 | +€201,038 | +25.6% |
| Financial income | 75/76B | €33,409 | €7,417 | -€25,991 | -77.8% |
| Recurring financial income | 75 | €33,409 | €7,417 | -€25,991 | -77.8% |
| Financial charges | 65/66B | €1,781 | €545 | -€1,237 | -69.4% |
| Recurring financial charges | 65 | €1,781 | €545 | -€1,237 | -69.4% |
| Profit (loss) for the period before taxes | 9903 | €817,822 | €994,106 | +€176,284 | +21.6% |
| Income taxes | 67/77 | €236,819 | €212,959 | -€23,860 | -10.1% |
| Profit (loss) for the period | 9904 | €581,003 | €781,147 | +€200,144 | +34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €581,003 | €781,147 | +€200,144 | +34.4% |
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 23 October 2026 via checked.be.