Kejor: 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.
Kejor
Largest movements
- Cash +€178,333
up €178,333 (+102.8%), from €173,544 to €351,877
mainly Net result for the year (+€202,834) and Trade debts (+€23,153)
- Receivables within one year -€21,549
down €21,549 (-53.6%), from €40,217 to €18,669
of which Other amounts receivable: -€23,000
- Stocks and contracts -€13,833
down €13,833 (-9.3%), from €148,380 to €134,547
- Tangible fixed assets +€6,776
up €6,776 (+33.2%), from €20,421 to €27,197
of which Furniture and vehicles: +€9,572
- Reserves +€202,834
up €202,834 (+131.4%), from €154,308 to €357,142
- Tax, wage and social debts -€47,132
down €47,132 (-78.6%), from €59,998 to €12,866
of which Taxes: -€52,592
- Debts after one year -€34,509
down €34,509 (-51.8%), from €66,557 to €32,048
- Trade debts +€23,153
up €23,153 (+52.9%), from €43,768 to €66,922
- Gross operating margin +€96,091
up €96,091 (+46.8%), from €205,542 to €301,633
- Staff costs +€25,803
new in 2025: €25,803
- Taxes +€14,171
up €14,171 (+29.7%), from €47,678 to €61,848
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 | €472,254 | €618,966 | +€146,712 | +31.1% |
| Fixed assets | 21/28 | €50,421 | €57,197 | +€6,776 | +13.4% |
| Tangible fixed assets | 22/27 | €20,421 | €27,197 | +€6,776 | +33.2% |
| Plant, machinery and equipment | 23 | €8,727 | €7,504 | -€1,222 | -14.0% |
| Furniture and vehicles | 24 | €1,521 | €11,093 | +€9,572 | +629.5% |
| Other tangible fixed assets | 26 | €10,174 | €8,600 | -€1,574 | -15.5% |
| Financial fixed assets | 28 | €30,000 | €30,000 | = | 0.0% |
| Current assets | 29/58 | €421,833 | €561,769 | +€139,936 | +33.2% |
| Stocks and contracts in progress | 3 | €148,380 | €134,547 | -€13,833 | -9.3% |
| Stocks | 30/36 | €148,380 | €134,547 | -€13,833 | -9.3% |
| Amounts receivable within one year | 40/41 | €40,217 | €18,669 | -€21,549 | -53.6% |
| Trade receivables | 40 | €17,217 | €18,669 | +€1,451 | +8.4% |
| Other amounts receivable | 41 | €23,000 | - | -€23,000 | |
| Current investments | 50/53 | €56,000 | €56,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €173,544 | €351,877 | +€178,333 | +102.8% |
| Deferred charges and accrued income | 490/1 | €3,691 | €676 | -€3,015 | -81.7% |
| Total equity and liabilities | 10/49 | €472,254 | €618,966 | +€146,712 | +31.1% |
| Equity | 10/15 | €214,308 | €417,142 | +€202,834 | +94.6% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €154,308 | €357,142 | +€202,834 | +131.4% |
| Distributable reserves | 133 | €154,308 | €357,142 | +€202,834 | +131.4% |
| Amounts payable | 17/49 | €257,946 | €201,824 | -€56,122 | -21.8% |
| Amounts payable after more than one year | 17 | €66,557 | €32,048 | -€34,509 | -51.8% |
| Financial debts | 170/4 | €66,557 | €32,048 | -€34,509 | -51.8% |
| Amounts payable within one year | 42/48 | €191,389 | €169,776 | -€21,614 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €34,043 | €34,509 | +€465 | +1.4% |
| Trade debts | 44 | €43,768 | €66,922 | +€23,153 | +52.9% |
| Suppliers | 440/4 | €43,768 | €66,922 | +€23,153 | +52.9% |
| Taxes, remuneration and social security | 45 | €59,998 | €12,866 | -€47,132 | -78.6% |
| Taxes | 450/3 | €59,998 | €7,406 | -€52,592 | -87.7% |
| Remuneration and social security | 454/9 | - | €5,460 | +€5,460 | |
| Other amounts payable | 47/48 | €53,580 | €55,479 | +€1,900 | +3.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €25,803 | +€25,803 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,199 | €4,924 | +€1,725 | +53.9% |
| Other operating charges | 640/8 | €674 | €1,228 | +€553 | +82.0% |
| Gross operating margin | 9900 | €205,542 | €301,633 | +€96,091 | +46.8% |
| Operating profit (loss) | 9901 | €201,668 | €269,679 | +€68,011 | +33.7% |
| Financial income | 75/76B | €896 | €1,172 | +€276 | +30.8% |
| Recurring financial income | 75 | €896 | €1,172 | +€276 | +30.8% |
| Financial charges | 65/66B | €6,338 | €6,168 | -€170 | -2.7% |
| Recurring financial charges | 65 | €6,338 | €6,168 | -€170 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €196,226 | €264,683 | +€68,457 | +34.9% |
| Income taxes | 67/77 | €47,678 | €61,848 | +€14,171 | +29.7% |
| Profit (loss) for the period | 9904 | €148,548 | €202,834 | +€54,286 | +36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €148,548 | €202,834 | +€54,286 | +36.5% |
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 12 October 2026 via checked.be.