KELKRO: 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.
KELKRO
Largest movements
- Receivables within one year -€155,868
down €155,868 (-69.1%), from €225,590 to €69,722
of which Trade receivables: -€129,459
- Cash +€91,351
up €91,351 (+94.4%), from €96,746 to €188,098
mainly Other debts (+€207,373) and Net result for the year (+€193,669)
- Tangible fixed assets -€56,541
down €56,541 (-6.3%), from €902,184 to €845,643
of which Land and buildings: -€39,663
- Reserves -€326,331
down €326,331 (-50.6%), from €645,027 to €318,695
of which Distributable reserves: -€276,189
- Other debts +€207,373
up €207,373 (+107.7%), from €192,627 to €400,000
- Financial charges -€9,336
down €9,336 (-95.7%), from €9,752 to €416
- Taxes +€8,074
up €8,074 (+22.7%), from €35,587 to €43,661
- Financial income -€4,147
down €4,147 (-78.6%), from €5,273 to €1,126
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 | €1,224,521 | €1,103,463 | -€121,058 | -9.9% |
| Fixed assets | 21/28 | €902,184 | €845,643 | -€56,541 | -6.3% |
| Tangible fixed assets | 22/27 | €902,184 | €845,643 | -€56,541 | -6.3% |
| Land and buildings | 22 | €859,959 | €820,295 | -€39,663 | -4.6% |
| Plant, machinery and equipment | 23 | €1,245 | €933 | -€311 | -25.0% |
| Furniture and vehicles | 24 | €40,981 | €24,414 | -€16,567 | -40.4% |
| Current assets | 29/58 | €322,337 | €257,820 | -€64,517 | -20.0% |
| Amounts receivable within one year | 40/41 | €225,590 | €69,722 | -€155,868 | -69.1% |
| Trade receivables | 40 | €188,491 | €59,032 | -€129,459 | -68.7% |
| Other amounts receivable | 41 | €37,100 | €10,691 | -€26,409 | -71.2% |
| Cash at bank and in hand | 54/58 | €96,746 | €188,098 | +€91,351 | +94.4% |
| Total equity and liabilities | 10/49 | €1,224,521 | €1,103,463 | -€121,058 | -9.9% |
| Equity | 10/15 | €982,454 | €656,122 | -€326,331 | -33.2% |
| Contributions | 10/11 | €337,427 | €337,427 | = | 0.0% |
| Reserves | 13 | €645,027 | €318,695 | -€326,331 | -50.6% |
| Non-distributable reserves | 130/1 | €33,743 | €33,743 | = | 0.0% |
| Reserves not available under the articles | 1311 | €33,743 | €33,743 | = | 0.0% |
| Tax-exempt reserves | 132 | €244,447 | €194,304 | -€50,143 | -20.5% |
| Distributable reserves | 133 | €366,838 | €90,649 | -€276,189 | -75.3% |
| Amounts payable | 17/49 | €242,067 | €447,341 | +€205,274 | +84.8% |
| Amounts payable within one year | 42/48 | €232,436 | €445,999 | +€213,563 | +91.9% |
| Trade debts | 44 | €12,797 | €23,969 | +€11,172 | +87.3% |
| Suppliers | 440/4 | €12,797 | €23,969 | +€11,172 | +87.3% |
| Taxes, remuneration and social security | 45 | €27,013 | €22,030 | -€4,983 | -18.4% |
| Taxes | 450/3 | €27,013 | €22,030 | -€4,983 | -18.4% |
| Other amounts payable | 47/48 | €192,627 | €400,000 | +€207,373 | +107.7% |
| Accrued charges and deferred income | 492/3 | €9,631 | €1,342 | -€8,289 | -86.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,572 | €60,576 | +€4 | 0.0% |
| Other operating charges | 640/8 | €11,008 | €11,425 | +€417 | +3.8% |
| Gross operating margin | 9900 | €307,170 | €308,620 | +€1,450 | +0.5% |
| Operating profit (loss) | 9901 | €235,590 | €236,619 | +€1,029 | +0.4% |
| Financial income | 75/76B | €5,273 | €1,126 | -€4,147 | -78.6% |
| Recurring financial income | 75 | €5,273 | €1,126 | -€4,147 | -78.6% |
| Financial charges | 65/66B | €9,752 | €416 | -€9,336 | -95.7% |
| Recurring financial charges | 65 | €9,752 | €416 | -€9,336 | -95.7% |
| Profit (loss) for the period before taxes | 9903 | €231,111 | €237,329 | +€6,218 | +2.7% |
| Income taxes | 67/77 | €35,587 | €43,661 | +€8,074 | +22.7% |
| Profit (loss) for the period | 9904 | €195,524 | €193,669 | -€1,855 | -0.9% |
| Transfer from tax-exempt reserves | 789 | - | €50,143 | +€50,143 | |
| Profit (loss) for the period to be appropriated | 9905 | €195,524 | €243,811 | +€48,287 | +24.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.