KELK: 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.
KELK
Largest movements
- Cash +€35,723
up €35,723 (+66.0%), from €54,161 to €89,884
mainly Net result for the year (+€33,793) and Tax, wage and social debts (+€2,725)
- Tangible fixed assets -€1,051
down €1,051 (-21.6%), from €4,867 to €3,815
- Profit (loss) carried forward +€33,793
new in 2026: €33,793
- Tax, wage and social debts +€2,725
up €2,725 (+25.3%), from €10,767 to €13,492
- Other debts -€1,508
down €1,508 (-54.0%), from €2,794 to €1,287
- Gross operating margin +€15,962
up €15,962 (+54.5%), from €29,302 to €45,264
- Taxes +€2,930
up €2,930 (+44.9%), from €6,520 to €9,450
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €69,411 | €104,109 | +€34,698 | +50.0% |
| Fixed assets | 21/28 | €14,867 | €13,815 | -€1,051 | -7.1% |
| Tangible fixed assets | 22/27 | €4,867 | €3,815 | -€1,051 | -21.6% |
| Furniture and vehicles | 24 | €4,867 | €3,815 | -€1,051 | -21.6% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €54,545 | €90,294 | +€35,749 | +65.5% |
| Cash at bank and in hand | 54/58 | €54,161 | €89,884 | +€35,723 | +66.0% |
| Deferred charges and accrued income | 490/1 | €384 | €409 | +€26 | +6.7% |
| Total equity and liabilities | 10/49 | €69,411 | €104,109 | +€34,698 | +50.0% |
| Equity | 10/15 | €55,236 | €89,029 | +€33,793 | +61.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €35,236 | €35,236 | = | 0.0% |
| Distributable reserves | 133 | €35,236 | €35,236 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €33,793 | +€33,793 | |
| Amounts payable | 17/49 | €14,175 | €15,080 | +€905 | +6.4% |
| Amounts payable within one year | 42/48 | €14,175 | €15,080 | +€905 | +6.4% |
| Trade debts | 44 | €614 | €302 | -€313 | -50.9% |
| Suppliers | 440/4 | €614 | €302 | -€313 | -50.9% |
| Taxes, remuneration and social security | 45 | €10,767 | €13,492 | +€2,725 | +25.3% |
| Taxes | 450/3 | €10,767 | €13,492 | +€2,725 | +25.3% |
| Other amounts payable | 47/48 | €2,794 | €1,287 | -€1,508 | -54.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,658 | €1,860 | +€202 | +12.2% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €29,302 | €45,264 | +€15,962 | +54.5% |
| Operating profit (loss) | 9901 | €27,526 | €43,283 | +€15,758 | +57.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €44 | €40 | -€3 | -7.0% |
| Recurring financial charges | 65 | €44 | €40 | -€3 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €27,482 | €43,243 | +€15,761 | +57.3% |
| Income taxes | 67/77 | €6,520 | €9,450 | +€2,930 | +44.9% |
| Profit (loss) for the period | 9904 | €20,962 | €33,793 | +€12,831 | +61.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,962 | €33,793 | +€12,831 | +61.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.