KEGAL: 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.
KEGAL
Largest movements
- Cash +€5,675
up €5,675 (+38.8%), from €14,611 to €20,285
mainly Net result for the year (+€6,216) and Depreciation (+€5,404)
- Tangible fixed assets -€5,404
down €5,404 (-5.0%), from €107,690 to €102,286
of which Plant, machinery and equipment: -€5,404
- Profit (loss) carried forward +€6,216
up €6,216 (+70.4%), from €8,827 to €15,043
- Tax, wage and social debts -€2,930
no longer reported in 2025 (was €2,930)
- Trade debts -€1,993
no longer reported in 2025 (was €1,993)
- Gross operating margin -€3,513
down €3,513 (-19.1%), from €18,417 to €14,904
- Taxes -€858
down €858 (-29.3%), from €2,930 to €2,072
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 | €122,951 | €123,963 | +€1,012 | +0.8% |
| Fixed assets | 21/28 | €108,309 | €102,906 | -€5,404 | -5.0% |
| Tangible fixed assets | 22/27 | €107,690 | €102,286 | -€5,404 | -5.0% |
| Land and buildings | 22 | €75,713 | €75,713 | = | 0.0% |
| Plant, machinery and equipment | 23 | €31,977 | €26,573 | -€5,404 | -16.9% |
| Financial fixed assets | 28 | €620 | €620 | = | 0.0% |
| Current assets | 29/58 | €14,642 | €21,057 | +€6,415 | +43.8% |
| Amounts receivable within one year | 40/41 | - | €739 | +€739 | |
| Other amounts receivable | 41 | - | €739 | +€739 | |
| Cash at bank and in hand | 54/58 | €14,611 | €20,285 | +€5,675 | +38.8% |
| Deferred charges and accrued income | 490/1 | €31 | €33 | +€2 | +5.6% |
| Total equity and liabilities | 10/49 | €122,951 | €123,963 | +€1,012 | +0.8% |
| Equity | 10/15 | €108,521 | €114,737 | +€6,216 | +5.7% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Capital | 10 | €99,157 | €99,157 | = | 0.0% |
| Issued capital | 100 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €536 | €536 | = | 0.0% |
| Non-distributable reserves | 130/1 | €536 | €536 | = | 0.0% |
| Legal reserve | 130 | €536 | €536 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,827 | €15,043 | +€6,216 | +70.4% |
| Amounts payable | 17/49 | €14,430 | €9,226 | -€5,205 | -36.1% |
| Amounts payable within one year | 42/48 | €14,430 | €9,226 | -€5,205 | -36.1% |
| Trade debts | 44 | €1,993 | - | -€1,993 | |
| Suppliers | 440/4 | €1,993 | - | -€1,993 | |
| Taxes, remuneration and social security | 45 | €2,930 | - | -€2,930 | |
| Taxes | 450/3 | €2,930 | - | -€2,930 | |
| Other amounts payable | 47/48 | €9,507 | €9,226 | -€281 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,442 | €5,404 | -€38 | -0.7% |
| Other operating charges | 640/8 | €1,058 | €1,083 | +€25 | +2.4% |
| Gross operating margin | 9900 | €18,417 | €14,904 | -€3,513 | -19.1% |
| Operating profit (loss) | 9901 | €11,918 | €8,417 | -€3,500 | -29.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €161 | €130 | -€31 | -19.5% |
| Recurring financial charges | 65 | €161 | €130 | -€31 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €11,757 | €8,288 | -€3,468 | -29.5% |
| Income taxes | 67/77 | €2,930 | €2,072 | -€858 | -29.3% |
| Profit (loss) for the period | 9904 | €8,827 | €6,216 | -€2,611 | -29.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,827 | €6,216 | -€2,611 | -29.6% |
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 13 October 2026 via checked.be.