KALENBERG: what changed
Two fiscal 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.
KALENBERG
Largest movements
- Tangible fixed assets -€37,897
down €37,897 (-3.0%), from €1.3m to €1.2m
of which Land and buildings: -€30,184
- Cash -€17,070
down €17,070 (-63.3%), from €26,977 to €9,907
mainly Debts after one year (-€65,256) and Investment in fixed assets (net) (-€14,791)
- Receivables within one year +€14,642
up €14,642 (+56.3%), from €26,000 to €40,642
of which Trade receivables: +€14,423
- Debts after one year -€65,256
down €65,256 (-6.3%), from €1.0m to €966,131
- Reserves +€15,411
up €15,411 (+8.0%), from €191,592 to €207,003
- Current portion of long-term debt +€13,506
up €13,506 (+28.7%), from €47,001 to €60,507
- Gross operating margin -€77,012
down €77,012 (-35.1%), from €219,173 to €142,161
- Taxes -€19,686
down €19,686 (-74.0%), from €26,619 to €6,933
- Financial charges +€17,867
up €17,867 (+37.8%), from €47,265 to €65,132
- Depreciation +€7,055
up €7,055 (+15.5%), from €45,634 to €52,688
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.
Cash bridge derived
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 | €1,307,218 | €1,266,758 | -€40,460 | -3.1% |
| Fixed assets | 21/28 | €1,253,165 | €1,215,268 | -€37,897 | -3.0% |
| Tangible fixed assets | 22/27 | €1,253,165 | €1,215,268 | -€37,897 | -3.0% |
| Land and buildings | 22 | €1,186,946 | €1,156,762 | -€30,184 | -2.5% |
| Plant, machinery and equipment | 23 | €1,942 | €8,678 | +€6,736 | +346.9% |
| Furniture and vehicles | 24 | €64,278 | €49,829 | -€14,449 | -22.5% |
| Current assets | 29/58 | €54,053 | €51,490 | -€2,563 | -4.7% |
| Amounts receivable within one year | 40/41 | €26,000 | €40,642 | +€14,642 | +56.3% |
| Trade receivables | 40 | €22,075 | €36,499 | +€14,423 | +65.3% |
| Other amounts receivable | 41 | €3,924 | €4,143 | +€218 | +5.6% |
| Cash at bank and in hand | 54/58 | €26,977 | €9,907 | -€17,070 | -63.3% |
| Deferred charges and accrued income | 490/1 | €1,077 | €942 | -€135 | -12.6% |
| Total equity and liabilities | 10/49 | €1,307,218 | €1,266,758 | -€40,460 | -3.1% |
| Equity | 10/15 | €197,792 | €213,203 | +€15,411 | +7.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €191,592 | €207,003 | +€15,411 | +8.0% |
| Distributable reserves | 133 | €191,592 | €207,003 | +€15,411 | +8.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,109,426 | €1,053,555 | -€55,872 | -5.0% |
| Amounts payable after more than one year | 17 | €1,031,387 | €966,131 | -€65,256 | -6.3% |
| Financial debts | 170/4 | €1,031,387 | €966,131 | -€65,256 | -6.3% |
| Amounts payable within one year | 42/48 | €76,907 | €87,424 | +€10,517 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €47,001 | €60,507 | +€13,506 | +28.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,167 | €4,514 | +€3,348 | +287.0% |
| Suppliers | 440/4 | €1,167 | €4,514 | +€3,348 | +287.0% |
| Taxes, remuneration and social security | 45 | €28,740 | €22,403 | -€6,337 | -22.0% |
| Taxes | 450/3 | €25,240 | €22,403 | -€2,837 | -11.2% |
| Remuneration and social security | 454/9 | €3,500 | €0 | -€3,500 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,132 | €0 | -€1,132 | -100.0% |
| Non-recurring operating income | 76A | €0 | €4,525 | +€4,525 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,634 | €52,688 | +€7,055 | +15.5% |
| Other operating charges | 640/8 | €3,073 | €2,720 | -€354 | -11.5% |
| Non-recurring operating charges | 66A | -€136 | €0 | +€136 | |
| Gross operating margin | 9900 | €219,173 | €142,161 | -€77,012 | -35.1% |
| Operating profit (loss) | 9901 | €170,602 | €86,753 | -€83,850 | -49.1% |
| Financial income | 75/76B | €540 | €723 | +€183 | +34.0% |
| Recurring financial income | 75 | €540 | €723 | +€183 | +34.0% |
| Financial charges | 65/66B | €47,265 | €65,132 | +€17,867 | +37.8% |
| Recurring financial charges | 65 | €47,265 | €65,132 | +€17,867 | +37.8% |
| Profit (loss) for the period before taxes | 9903 | €123,877 | €22,344 | -€101,533 | -82.0% |
| Income taxes | 67/77 | €26,619 | €6,933 | -€19,686 | -74.0% |
| Profit (loss) for the period | 9904 | €97,259 | €15,411 | -€81,847 | -84.2% |
| Profit (loss) for the period to be appropriated | 9905 | €97,259 | €15,411 | -€81,847 | -84.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.