KEJO: 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.
KEJO
Largest movements
- Tangible fixed assets +€106,427
up €106,427 (+46.7%), from €227,876 to €334,303
of which Plant, machinery and equipment: +€91,916
- Receivables within one year +€72,501
up €72,501 (+38.7%), from €187,502 to €260,003
of which Trade receivables: +€73,923
- Stocks and contracts -€10,000
down €10,000 (-16.1%), from €62,125 to €52,125
- Trade debts +€152,698
up €152,698 (+136.4%), from €111,920 to €264,619
- Debts after one year +€149,800
up €149,800 (+336.9%), from €44,460 to €194,260
- Other debts -€119,314
down €119,314 (-100.0%), from €119,314 to €0
- Current portion of long-term debt -€27,508
down €27,508 (-28.3%), from €97,067 to €69,559
- Tax, wage and social debts +€17,968
up €17,968 (+278.1%), from €6,461 to €24,429
of which Taxes: +€16,611
- Gross operating margin +€87,334
up €87,334 (+193.4%), from €45,148 to €132,482
- Staff costs +€18,957
new in 2025: €18,957
- Depreciation +€16,472
up €16,472 (+26.2%), from €62,932 to €79,404
- Financial charges +€13,000
up €13,000 (+273.0%), from €4,762 to €17,762
- Other operating charges +€11,282
up €11,282 (+297.9%), from €3,788 to €15,070
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 | €477,503 | €648,589 | +€171,086 | +35.8% |
| Fixed assets | 21/28 | €227,876 | €334,303 | +€106,427 | +46.7% |
| Tangible fixed assets | 22/27 | €227,876 | €334,303 | +€106,427 | +46.7% |
| Plant, machinery and equipment | 23 | €128,627 | €220,543 | +€91,916 | +71.5% |
| Furniture and vehicles | 24 | €99,249 | €113,760 | +€14,511 | +14.6% |
| Current assets | 29/58 | €249,627 | €314,286 | +€64,659 | +25.9% |
| Stocks and contracts in progress | 3 | €62,125 | €52,125 | -€10,000 | -16.1% |
| Stocks | 30/36 | €62,125 | €52,125 | -€10,000 | -16.1% |
| Amounts receivable within one year | 40/41 | €187,502 | €260,003 | +€72,501 | +38.7% |
| Trade receivables | 40 | €186,080 | €260,003 | +€73,923 | +39.7% |
| Other amounts receivable | 41 | €1,422 | €0 | -€1,422 | -100.0% |
| Cash at bank and in hand | 54/58 | - | €2,158 | +€2,158 | |
| Total equity and liabilities | 10/49 | €477,503 | €648,589 | +€171,086 | +35.8% |
| Equity | 10/15 | €20,980 | €22,006 | +€1,026 | +4.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €42,982 | €42,982 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €41,122 | €42,982 | +€1,860 | +4.5% |
| Profit (loss) carried forward | 14 | -€28,203 | -€27,176 | +€1,026 | +3.6% |
| Amounts payable | 17/49 | €456,523 | €626,583 | +€170,060 | +37.3% |
| Amounts payable after more than one year | 17 | €44,460 | €194,260 | +€149,800 | +336.9% |
| Financial debts | 170/4 | €44,460 | €194,260 | +€149,800 | +336.9% |
| Amounts payable within one year | 42/48 | €408,332 | €430,451 | +€22,119 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €97,067 | €69,559 | -€27,508 | -28.3% |
| Financial debts | 43 | €73,570 | €71,845 | -€1,725 | -2.3% |
| Credit institutions | 430/8 | €24,101 | €71,845 | +€47,744 | +198.1% |
| Other loans | 439 | €49,469 | - | -€49,469 | |
| Trade debts | 44 | €111,920 | €264,619 | +€152,698 | +136.4% |
| Suppliers | 440/4 | €111,920 | €264,619 | +€152,698 | +136.4% |
| Taxes, remuneration and social security | 45 | €6,461 | €24,429 | +€17,968 | +278.1% |
| Taxes | 450/3 | €6,461 | €23,073 | +€16,611 | +257.1% |
| Remuneration and social security | 454/9 | - | €1,357 | +€1,357 | |
| Other amounts payable | 47/48 | €119,314 | €0 | -€119,314 | -100.0% |
| Accrued charges and deferred income | 492/3 | €3,731 | €1,872 | -€1,859 | -49.8% |
| Remuneration, social security and pensions | 62 | - | €18,957 | +€18,957 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,932 | €79,404 | +€16,472 | +26.2% |
| Other operating charges | 640/8 | €3,788 | €15,070 | +€11,282 | +297.9% |
| Non-recurring operating charges | 66A | - | €264 | +€264 | |
| Gross operating margin | 9900 | €45,148 | €132,482 | +€87,334 | +193.4% |
| Operating profit (loss) | 9901 | -€21,572 | €18,787 | +€40,358 | |
| Financial income | 75/76B | €29 | €1 | -€27 | -95.6% |
| Recurring financial income | 75 | €29 | €1 | -€27 | -95.6% |
| Financial charges | 65/66B | €4,762 | €17,762 | +€13,000 | +273.0% |
| Recurring financial charges | 65 | €4,762 | €17,762 | +€13,000 | +273.0% |
| Profit (loss) for the period before taxes | 9903 | -€26,305 | €1,026 | +€27,331 | |
| Income taxes | 67/77 | €616 | €0 | -€616 | -100.0% |
| Profit (loss) for the period | 9904 | -€26,921 | €1,026 | +€27,947 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,921 | €1,026 | +€27,947 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.