KEGECO: 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.
KEGECO
Largest movements
- Tangible fixed assets +€85,207
up €85,207 (+6.0%), from €1.4m to €1.5m
of which Furniture and vehicles: +€62,847
- Other debts +€104,274
up €104,274 (+89.3%), from €116,805 to €221,079
- Tax, wage and social debts -€24,899
down €24,899 (-72.5%), from €34,353 to €9,454
- Gross operating margin +€80,721
up €80,721 (+433.3%), from €18,629 to €99,350
- Financial charges +€6,803
up €6,803 (+109.2%), from €6,229 to €13,032
- Taxes -€4,941
down €4,941 (-98.8%), from €5,000 to €59
- Depreciation +€3,894
up €3,894 (+6.6%), from €58,763 to €62,658
- Other operating charges +€1,083
up €1,083 (+8.9%), from €12,107 to €13,190
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 | €1,471,992 | €1,572,905 | +€100,913 | +6.9% |
| Fixed assets | 21/28 | €1,417,221 | €1,502,428 | +€85,207 | +6.0% |
| Tangible fixed assets | 22/27 | €1,417,221 | €1,502,428 | +€85,207 | +6.0% |
| Land and buildings | 22 | €1,381,291 | €1,396,549 | +€15,258 | +1.1% |
| Plant, machinery and equipment | 23 | €33,809 | €40,911 | +€7,102 | +21.0% |
| Furniture and vehicles | 24 | €2,121 | €64,969 | +€62,847 | +2962.5% |
| Current assets | 29/58 | €54,771 | €70,477 | +€15,706 | +28.7% |
| Stocks and contracts in progress | 3 | €10,000 | €12,343 | +€2,343 | +23.4% |
| Stocks | 30/36 | €10,000 | €12,343 | +€2,343 | +23.4% |
| Amounts receivable within one year | 40/41 | €34,495 | €44,257 | +€9,762 | +28.3% |
| Trade receivables | 40 | €16,614 | €16,758 | +€144 | +0.9% |
| Other amounts receivable | 41 | €17,881 | €27,499 | +€9,618 | +53.8% |
| Cash at bank and in hand | 54/58 | €9,566 | €9,338 | -€228 | -2.4% |
| Deferred charges and accrued income | 490/1 | €710 | €4,538 | +€3,828 | +539.1% |
| Total equity and liabilities | 10/49 | €1,471,992 | €1,572,905 | +€100,913 | +6.9% |
| Equity | 10/15 | €896,573 | €898,941 | +€2,369 | +0.3% |
| Contributions | 10/11 | €159,336 | €159,336 | = | 0.0% |
| Capital | 10 | €159,336 | €159,336 | = | 0.0% |
| Issued capital | 100 | €159,336 | €159,336 | = | 0.0% |
| Revaluation surpluses | 12 | €382,885 | €382,885 | = | 0.0% |
| Reserves | 13 | €521,938 | €521,938 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,054 | €4,054 | = | 0.0% |
| Legal reserve | 130 | €4,054 | €4,054 | = | 0.0% |
| Distributable reserves | 133 | €517,885 | €517,885 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€167,587 | -€165,218 | +€2,369 | +1.4% |
| Amounts payable | 17/49 | €575,419 | €673,963 | +€98,544 | +17.1% |
| Amounts payable after more than one year | 17 | €380,131 | €387,924 | +€7,792 | +2.0% |
| Financial debts | 170/4 | €380,131 | €345,591 | -€34,540 | -9.1% |
| Trade debts | 175 | - | €42,333 | +€42,333 | |
| Amounts payable within one year | 42/48 | €195,288 | €286,039 | +€90,752 | +46.5% |
| Current portion of amounts payable after more than one year | 42 | €33,933 | €49,544 | +€15,611 | +46.0% |
| Financial debts | 43 | €1,223 | €1,223 | = | 0.0% |
| Credit institutions | 430/8 | €1,223 | €1,223 | = | 0.0% |
| Trade debts | 44 | €8,975 | €4,740 | -€4,235 | -47.2% |
| Suppliers | 440/4 | €8,975 | €4,740 | -€4,235 | -47.2% |
| Taxes, remuneration and social security | 45 | €34,353 | €9,454 | -€24,899 | -72.5% |
| Taxes | 450/3 | €34,353 | €9,454 | -€24,899 | -72.5% |
| Other amounts payable | 47/48 | €116,805 | €221,079 | +€104,274 | +89.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,763 | €62,658 | +€3,894 | +6.6% |
| Other operating charges | 640/8 | €12,107 | €13,190 | +€1,083 | +8.9% |
| Non-recurring operating charges | 66A | - | €8,226 | +€8,226 | |
| Gross operating margin | 9900 | €18,629 | €99,350 | +€80,721 | +433.3% |
| Operating profit (loss) | 9901 | -€52,241 | €15,276 | +€67,517 | |
| Financial income | 75/76B | €14 | €184 | +€170 | +1185.5% |
| Recurring financial income | 75 | €14 | €184 | +€170 | +1185.5% |
| Financial charges | 65/66B | €6,229 | €13,032 | +€6,803 | +109.2% |
| Recurring financial charges | 65 | €6,229 | €13,032 | +€6,803 | +109.2% |
| Profit (loss) for the period before taxes | 9903 | -€58,456 | €2,428 | +€60,884 | |
| Income taxes | 67/77 | €5,000 | €59 | -€4,941 | -98.8% |
| Profit (loss) for the period | 9904 | -€63,456 | €2,369 | +€65,825 | |
| Profit (loss) for the period to be appropriated | 9905 | -€63,456 | €2,369 | +€65,825 |
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 10 October 2026 via checked.be.