KEFKI: 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.
KEFKI
Largest movements
- Stocks and contracts +€15,390
up €15,390 (+38.3%), from €40,181 to €55,571
- Tangible fixed assets -€14,853
down €14,853 (-12.9%), from €115,095 to €100,242
- Receivables within one year +€5,566
up €5,566 (+63.3%), from €8,796 to €14,361
of which Trade receivables: +€4,514
- Reserves +€10,238
up €10,238 (+28.7%), from €35,679 to €45,918
of which Distributable reserves: +€10,238
- Tax, wage and social debts -€3,831
down €3,831 (-19.4%), from €19,757 to €15,926
of which Taxes: -€3,617
- Current portion of long-term debt +€2,208
up €2,208 (+14.9%), from €14,818 to €17,026
- Depreciation -€7,664
down €7,664 (-19.5%), from €39,373 to €31,708
- Gross operating margin +€6,969
up €6,969 (+9.6%), from €72,251 to €79,220
- Financial income -€4,309
down €4,309 (-79.9%), from €5,392 to €1,083
- Taxes +€3,508
up €3,508 (+119.3%), from €2,940 to €6,448
- Staff costs -€2,670
down €2,670 (-9.0%), from €29,713 to €27,043
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 | €200,823 | €209,649 | +€8,826 | +4.4% |
| Fixed assets | 21/28 | €115,095 | €100,242 | -€14,853 | -12.9% |
| Tangible fixed assets | 22/27 | €115,095 | €100,242 | -€14,853 | -12.9% |
| Land and buildings | 22 | €70,270 | €66,522 | -€3,748 | -5.3% |
| Plant, machinery and equipment | 23 | €28,260 | €22,837 | -€5,422 | -19.2% |
| Furniture and vehicles | 24 | €16,566 | €10,883 | -€5,682 | -34.3% |
| Current assets | 29/58 | €85,728 | €109,407 | +€23,679 | +27.6% |
| Stocks and contracts in progress | 3 | €40,181 | €55,571 | +€15,390 | +38.3% |
| Stocks | 30/36 | €40,181 | €55,571 | +€15,390 | +38.3% |
| Amounts receivable within one year | 40/41 | €8,796 | €14,361 | +€5,566 | +63.3% |
| Trade receivables | 40 | €8,796 | €13,310 | +€4,514 | +51.3% |
| Other amounts receivable | 41 | - | €1,052 | +€1,052 | |
| Cash at bank and in hand | 54/58 | €36,751 | €38,767 | +€2,016 | +5.5% |
| Deferred charges and accrued income | 490/1 | - | €708 | +€708 | |
| Total equity and liabilities | 10/49 | €200,823 | €209,649 | +€8,826 | +4.4% |
| Equity | 10/15 | €37,679 | €47,918 | +€10,238 | +27.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €35,679 | €45,918 | +€10,238 | +28.7% |
| Tax-exempt reserves | 132 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €32,679 | €42,918 | +€10,238 | +31.3% |
| Amounts payable | 17/49 | €163,143 | €161,731 | -€1,412 | -0.9% |
| Amounts payable after more than one year | 17 | €69,779 | €69,476 | -€303 | -0.4% |
| Financial debts | 170/4 | €69,779 | €69,476 | -€303 | -0.4% |
| Amounts payable within one year | 42/48 | €93,365 | €92,256 | -€1,109 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €14,818 | €17,026 | +€2,208 | +14.9% |
| Trade debts | 44 | €44,820 | €44,379 | -€441 | -1.0% |
| Suppliers | 440/4 | €44,820 | €44,379 | -€441 | -1.0% |
| Advances received on contracts in progress | 46 | - | €434 | +€434 | |
| Taxes, remuneration and social security | 45 | €19,757 | €15,926 | -€3,831 | -19.4% |
| Taxes | 450/3 | €14,464 | €10,847 | -€3,617 | -25.0% |
| Remuneration and social security | 454/9 | €5,293 | €5,078 | -€215 | -4.1% |
| Other amounts payable | 47/48 | €13,970 | €14,491 | +€521 | +3.7% |
| Remuneration, social security and pensions | 62 | €29,713 | €27,043 | -€2,670 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,373 | €31,708 | -€7,664 | -19.5% |
| Other operating charges | 640/8 | €2,542 | €2,203 | -€339 | -13.3% |
| Gross operating margin | 9900 | €72,251 | €79,220 | +€6,969 | +9.6% |
| Operating profit (loss) | 9901 | €624 | €18,266 | +€17,642 | +2827.8% |
| Financial income | 75/76B | €5,392 | €1,083 | -€4,309 | -79.9% |
| Recurring financial income | 75 | €5,392 | €1,083 | -€4,309 | -79.9% |
| Financial charges | 65/66B | €3,653 | €2,663 | -€991 | -27.1% |
| Recurring financial charges | 65 | €3,653 | €2,663 | -€991 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €2,363 | €16,686 | +€14,323 | +606.1% |
| Income taxes | 67/77 | €2,940 | €6,448 | +€3,508 | +119.3% |
| Profit (loss) for the period | 9904 | -€577 | €10,238 | +€10,815 | |
| Profit (loss) for the period to be appropriated | 9905 | -€577 | €10,238 | +€10,815 |
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 6 October 2026 via checked.be.