KAER: what changed
KAER
Largest movements
- Receivables within one year +€2,055
up €2,055 (+19.6%), from €10,511 to €12,567
of which Trade receivables: +€2,417
- Cash +€1,279
up €1,279 (+23.3%), from €5,500 to €6,778
mainly Net result for the year (+€3,153) and Depreciation (+€1,257)
- Tangible fixed assets -€1,067
down €1,067 (-42.6%), from €2,502 to €1,435
- Deferred charges and accrued income +€299
up €299 (+120%), from €249 to €548
- Profit (loss) carried forward +€3,153
up €3,153 (+22.4%), from €14,091 to €17,244
- Trade debts -€649
down €649 (-48.5%), from €1,338 to €689
- Purchases and services +€27,979
up €27,979 (+56.0%), from €49,983 to €77,962
- Gross operating margin -€14,856
down €14,856 (-69.8%), from €21,276 to €6,420
- Turnover +€13,123
up €13,123 (+18.4%), from €71,259 to €84,382
- Taxes -€3,650
down €3,650, from €3,523 to -€127
- Depreciation -€1,532
down €1,532 (-54.9%), from €2,788 to €1,257
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,952 | €21,328 | +€2,376 | +12.5% |
| Formation expenses | 20 | €190 | - | -€190 | |
| Fixed assets | 21/28 | €2,502 | €1,435 | -€1,067 | -42.6% |
| Tangible fixed assets | 22/27 | €2,502 | €1,435 | -€1,067 | -42.6% |
| Furniture and vehicles | 24 | €2,502 | €1,435 | -€1,067 | -42.6% |
| Current assets | 29/58 | €16,261 | €19,893 | +€3,633 | +22.3% |
| Amounts receivable within one year | 40/41 | €10,511 | €12,567 | +€2,055 | +19.6% |
| Trade receivables | 40 | €9,174 | €11,591 | +€2,417 | +26.3% |
| Other amounts receivable | 41 | €1,337 | €975 | -€362 | -27.1% |
| Cash at bank and in hand | 54/58 | €5,500 | €6,778 | +€1,279 | +23.3% |
| Deferred charges and accrued income | 490/1 | €249 | €548 | +€299 | +120% |
| Total equity and liabilities | 10/49 | €18,952 | €21,328 | +€2,376 | +12.5% |
| Equity | 10/15 | €14,091 | €17,244 | +€3,153 | +22.4% |
| Profit (loss) carried forward | 14 | €14,091 | €17,244 | +€3,153 | +22.4% |
| Amounts payable | 17/49 | €4,861 | €4,084 | -€777 | -16.0% |
| Amounts payable within one year | 42/48 | €4,861 | €4,084 | -€777 | -16.0% |
| Trade debts | 44 | €1,338 | €689 | -€649 | -48.5% |
| Suppliers | 440/4 | €1,338 | €689 | -€649 | -48.5% |
| Taxes, remuneration and social security | 45 | €3,523 | €3,395 | -€127 | -3.6% |
| Taxes | 450/3 | €3,523 | €3,395 | -€127 | -3.6% |
| Turnover | 70 | €71,259 | €84,382 | +€13,123 | +18.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €49,983 | €77,962 | +€27,979 | +56.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,788 | €1,257 | -€1,532 | -54.9% |
| Other operating charges | 640/8 | €655 | €565 | -€90 | -13.8% |
| Gross operating margin | 9900 | €21,276 | €6,420 | -€14,856 | -69.8% |
| Operating profit (loss) | 9901 | €17,833 | €4,598 | -€13,234 | -74.2% |
| Financial income | 75/76B | €43 | €0 | -€43 | -99.9% |
| Recurring financial income | 75 | €43 | €0 | -€43 | -99.9% |
| Financial charges | 65/66B | €261 | €1,573 | +€1,311 | +502% |
| Recurring financial charges | 65 | €261 | €1,573 | +€1,311 | +502% |
| Profit (loss) for the period before taxes | 9903 | €17,614 | €3,026 | -€14,589 | -82.8% |
| Income taxes | 67/77 | €3,523 | -€127 | -€3,650 | |
| Profit (loss) for the period | 9904 | €14,091 | €3,153 | -€10,938 | -77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,091 | €3,153 | -€10,938 | -77.6% |
Next steps
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 5 November 2026 via checked.be.