KELCHTERMANS CONSULTING: 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.
KELCHTERMANS CONSULTING
Largest movements
- Current investments -€175,000
no longer reported in 2025 (was €175,000)
- Cash +€36,078
up €36,078 (+72.0%), from €50,131 to €86,209
mainly Current investments (+€175,000) and Net result for the year (+€38,497)
- Tangible fixed assets +€8,597
new in 2025: €8,597
of which Furniture and vehicles: +€6,878
- Receivables within one year +€2,974
up €2,974 (+8.3%), from €35,767 to €38,741
of which Other amounts receivable: +€22,416
- Reserves -€86,539
down €86,539 (-50.5%), from €171,409 to €84,869
- Contributions -€18,600
no longer reported in 2025 (was €18,600)
- Other debts -€13,300
down €13,300 (-29.2%), from €45,567 to €32,266
- Tax, wage and social debts -€6,399
down €6,399 (-38.8%), from €16,495 to €10,096
- Gross operating margin -€9,209
down €9,209 (-14.4%), from €63,937 to €54,727
- Financial income +€4,035
up €4,035 (+4,571%), from €88 to €4,123
- Depreciation +€3,020
new in 2025: €3,020
- Taxes +€2,540
up €2,540 (+18.3%), from €13,916 to €16,456
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 | €262,030 | €135,309 | -€126,722 | -48.4% |
| Fixed assets | 21/28 | - | €8,597 | +€8,597 | |
| Tangible fixed assets | 22/27 | - | €8,597 | +€8,597 | |
| Plant, machinery and equipment | 23 | - | €1,719 | +€1,719 | |
| Furniture and vehicles | 24 | - | €6,878 | +€6,878 | |
| Current assets | 29/58 | €262,030 | €126,712 | -€135,318 | -51.6% |
| Amounts receivable within one year | 40/41 | €35,767 | €38,741 | +€2,974 | +8.3% |
| Trade receivables | 40 | €35,767 | €16,326 | -€19,441 | -54.4% |
| Other amounts receivable | 41 | - | €22,416 | +€22,416 | |
| Current investments | 50/53 | €175,000 | - | -€175,000 | |
| Cash at bank and in hand | 54/58 | €50,131 | €86,209 | +€36,078 | +72.0% |
| Deferred charges and accrued income | 490/1 | €1,132 | €1,762 | +€630 | +55.6% |
| Total equity and liabilities | 10/49 | €262,030 | €135,309 | -€126,722 | -48.4% |
| Equity | 10/15 | €190,009 | €84,869 | -€105,139 | -55.3% |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €171,409 | €84,869 | -€86,539 | -50.5% |
| Distributable reserves | 133 | €171,409 | €84,869 | -€86,539 | -50.5% |
| Amounts payable | 17/49 | €72,022 | €50,439 | -€21,582 | -30.0% |
| Amounts payable within one year | 42/48 | €67,550 | €45,306 | -€22,244 | -32.9% |
| Trade debts | 44 | €5,488 | €2,944 | -€2,545 | -46.4% |
| Suppliers | 440/4 | €5,488 | €2,944 | -€2,545 | -46.4% |
| Taxes, remuneration and social security | 45 | €16,495 | €10,096 | -€6,399 | -38.8% |
| Taxes | 450/3 | €16,495 | €10,096 | -€6,399 | -38.8% |
| Other amounts payable | 47/48 | €45,567 | €32,266 | -€13,300 | -29.2% |
| Accrued charges and deferred income | 492/3 | €4,472 | €5,133 | +€661 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,020 | +€3,020 | |
| Other operating charges | 640/8 | €512 | €614 | +€102 | +19.8% |
| Gross operating margin | 9900 | €63,937 | €54,727 | -€9,209 | -14.4% |
| Operating profit (loss) | 9901 | €63,424 | €51,093 | -€12,331 | -19.4% |
| Financial income | 75/76B | €88 | €4,123 | +€4,035 | +4,571% |
| Recurring financial income | 75 | €88 | €4,123 | +€4,035 | +4,571% |
| Financial charges | 65/66B | €325 | €263 | -€62 | -19.1% |
| Recurring financial charges | 65 | €325 | €263 | -€62 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €63,187 | €54,953 | -€8,234 | -13.0% |
| Income taxes | 67/77 | €13,916 | €16,456 | +€2,540 | +18.3% |
| Profit (loss) for the period | 9904 | €49,271 | €38,497 | -€10,774 | -21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €49,271 | €38,497 | -€10,774 | -21.9% |
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 19 October 2026 via checked.be.