KEBO: 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.
KEBO
Largest movements
- Tangible fixed assets -€68,070
down €68,070 (-8.0%), from €845,959 to €777,889
of which Plant, machinery and equipment: -€48,392
- Cash -€50,342
down €50,342 (-29.3%), from €171,591 to €121,249
mainly Net result for the year (-€148,644) and Accrued charges and deferred income (-€53,488)
- Stocks and contracts -€50,000
down €50,000 (-14.6%), from €341,977 to €291,977
- Profit (loss) carried forward -€148,644
down €148,644 (-23.7%), from -€626,412 to -€775,056
- Accrued charges and deferred income -€53,488
down €53,488 (-100.0%), from €53,488 to €0
- Trade debts +€34,485
up €34,485 (+12.3%), from €280,037 to €314,522
- Debts after one year -€18,280
down €18,280 (-5.1%), from €357,282 to €339,003
- Gross operating margin -€139,611
down €139,611 (-28.4%), from €491,203 to €351,592
- Staff costs +€5,099
up €5,099 (+1.2%), from €408,989 to €414,088
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 | €1,386,382 | €1,201,346 | -€185,036 | -13.3% |
| Fixed assets | 21/28 | €845,959 | €777,889 | -€68,070 | -8.0% |
| Tangible fixed assets | 22/27 | €845,959 | €777,889 | -€68,070 | -8.0% |
| Land and buildings | 22 | €671,900 | €652,223 | -€19,677 | -2.9% |
| Plant, machinery and equipment | 23 | €174,059 | €125,667 | -€48,392 | -27.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €540,423 | €423,457 | -€116,967 | -21.6% |
| Stocks and contracts in progress | 3 | €341,977 | €291,977 | -€50,000 | -14.6% |
| Stocks | 30/36 | €341,977 | €291,977 | -€50,000 | -14.6% |
| Amounts receivable within one year | 40/41 | €13,164 | €1,946 | -€11,219 | -85.2% |
| Trade receivables | 40 | €13,164 | €1,866 | -€11,298 | -85.8% |
| Other amounts receivable | 41 | €0 | €80 | +€80 | |
| Cash at bank and in hand | 54/58 | €171,591 | €121,249 | -€50,342 | -29.3% |
| Deferred charges and accrued income | 490/1 | €13,691 | €8,285 | -€5,406 | -39.5% |
| Total equity and liabilities | 10/49 | €1,386,382 | €1,201,346 | -€185,036 | -13.3% |
| Equity | 10/15 | €298,206 | €149,561 | -€148,644 | -49.8% |
| Contributions | 10/11 | €525,000 | €525,000 | = | 0.0% |
| Capital | 10 | €525,000 | €525,000 | = | 0.0% |
| Issued capital | 100 | €525,000 | €525,000 | = | 0.0% |
| Revaluation surpluses | 12 | €383,000 | €383,000 | = | 0.0% |
| Reserves | 13 | €16,617 | €16,617 | = | 0.0% |
| Distributable reserves | 133 | €16,617 | €16,617 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€626,412 | -€775,056 | -€148,644 | -23.7% |
| Amounts payable | 17/49 | €1,088,177 | €1,051,785 | -€36,392 | -3.3% |
| Amounts payable after more than one year | 17 | €357,282 | €339,003 | -€18,280 | -5.1% |
| Financial debts | 170/4 | €357,282 | €339,003 | -€18,280 | -5.1% |
| Amounts payable within one year | 42/48 | €677,406 | €712,782 | +€35,376 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €17,868 | €18,280 | +€412 | +2.3% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €280,037 | €314,522 | +€34,485 | +12.3% |
| Suppliers | 440/4 | €280,037 | €314,522 | +€34,485 | +12.3% |
| Taxes, remuneration and social security | 45 | €99,930 | €108,756 | +€8,826 | +8.8% |
| Taxes | 450/3 | €13,880 | €12,954 | -€926 | -6.7% |
| Remuneration and social security | 454/9 | €86,051 | €95,802 | +€9,751 | +11.3% |
| Other amounts payable | 47/48 | €154,570 | €146,224 | -€8,347 | -5.4% |
| Accrued charges and deferred income | 492/3 | €53,488 | €0 | -€53,488 | -100.0% |
| Remuneration, social security and pensions | 62 | €408,989 | €414,088 | +€5,099 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,991 | €68,070 | +€79 | +0.1% |
| Other operating charges | 640/8 | €9,294 | €9,580 | +€286 | +3.1% |
| Gross operating margin | 9900 | €491,203 | €351,592 | -€139,611 | -28.4% |
| Operating profit (loss) | 9901 | €4,929 | -€140,146 | -€145,075 | |
| Financial income | 75/76B | €7 | €266 | +€259 | +3465.7% |
| Recurring financial income | 75 | €7 | €266 | +€259 | +3465.7% |
| Financial charges | 65/66B | €11,102 | €8,765 | -€2,337 | -21.1% |
| Recurring financial charges | 65 | €11,102 | €8,765 | -€2,337 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,165 | -€148,644 | -€142,480 | -2311.2% |
| Income taxes | 67/77 | €2 | €0 | -€2 | -100.0% |
| Profit (loss) for the period | 9904 | -€6,166 | -€148,644 | -€142,478 | -2310.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,166 | -€148,644 | -€142,478 | -2310.6% |
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 3 October 2026 via checked.be.