KELLBOUTIQUE: what changed
KELLBOUTIQUE
Largest movements
- Tangible fixed assets -€5,410
down €5,410 (-27.4%), from €19,773 to €14,362
of which Furniture and vehicles: -€2,762
- Stocks and contracts -€5,241
down €5,241 (-16.1%), from €32,632 to €27,391
- Cash -€3,105
down €3,105 (-19.8%), from €15,698 to €12,593
mainly Debts after one year (-€8,618) and Trade debts (-€5,698)
- Receivables within one year +€1,693
up €1,693 (+2,865%), from €59 to €1,752
of which Trade receivables: +€1,693
- Debts after one year -€8,618
down €8,618 (-100%), from €8,618 to €0
- Profit (loss) carried forward +€5,898
up €5,898 (+636%), from €927 to €6,825
- Trade debts -€5,698
down €5,698 (-100%), from €5,698 to €0
- Current portion of long-term debt -€4,367
down €4,367 (-66.2%), from €6,598 to €2,231
- Other debts +€2,088
up €2,088 (+6.6%), from €31,610 to €33,698
- Staff costs -€2,691
down €2,691 (-38.5%), from €6,998 to €4,307
- Taxes +€2,018
new in 2025: €2,018
- Financial charges +€1,144
up €1,144 (+38.2%), from €2,993 to €4,137
- Gross operating margin -€251
down €251 (-1.1%), from €23,588 to €23,337
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,341 | €56,279 | -€12,063 | -17.7% |
| Fixed assets | 21/28 | €19,953 | €14,542 | -€5,410 | -27.1% |
| Tangible fixed assets | 22/27 | €19,773 | €14,362 | -€5,410 | -27.4% |
| Plant, machinery and equipment | 23 | €164 | €32 | -€132 | -80.4% |
| Furniture and vehicles | 24 | €7,784 | €5,022 | -€2,762 | -35.5% |
| Other tangible fixed assets | 26 | €11,824 | €9,308 | -€2,516 | -21.3% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €48,389 | €41,736 | -€6,653 | -13.7% |
| Stocks and contracts in progress | 3 | €32,632 | €27,391 | -€5,241 | -16.1% |
| Stocks | 30/36 | €32,632 | €27,391 | -€5,241 | -16.1% |
| Amounts receivable within one year | 40/41 | €59 | €1,752 | +€1,693 | +2,865% |
| Trade receivables | 40 | €30 | €1,723 | +€1,693 | +5,682% |
| Other amounts receivable | 41 | €29 | €29 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,698 | €12,593 | -€3,105 | -19.8% |
| Total equity and liabilities | 10/49 | €68,341 | €56,279 | -€12,063 | -17.7% |
| Equity | 10/15 | €3,927 | €9,825 | +€5,898 | +150% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €927 | €6,825 | +€5,898 | +636% |
| Amounts payable | 17/49 | €64,414 | €46,453 | -€17,961 | -27.9% |
| Amounts payable after more than one year | 17 | €8,618 | €0 | -€8,618 | -100% |
| Financial debts | 170/4 | €8,618 | €0 | -€8,618 | -100% |
| Amounts payable within one year | 42/48 | €55,796 | €46,453 | -€9,343 | -16.7% |
| Current portion of amounts payable after more than one year | 42 | €6,598 | €2,231 | -€4,367 | -66.2% |
| Trade debts | 44 | €5,698 | €0 | -€5,698 | -100% |
| Suppliers | 440/4 | €5,698 | €0 | -€5,698 | -100% |
| Taxes, remuneration and social security | 45 | €11,891 | €10,524 | -€1,367 | -11.5% |
| Taxes | 450/3 | €10,307 | €9,059 | -€1,248 | -12.1% |
| Remuneration and social security | 454/9 | €1,584 | €1,465 | -€119 | -7.5% |
| Other amounts payable | 47/48 | €31,610 | €33,698 | +€2,088 | +6.6% |
| Remuneration, social security and pensions | 62 | €6,998 | €4,307 | -€2,691 | -38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,797 | €6,700 | -€96 | -1.4% |
| Other operating charges | 640/8 | €124 | €279 | +€155 | +126% |
| Gross operating margin | 9900 | €23,588 | €23,337 | -€251 | -1.1% |
| Operating profit (loss) | 9901 | €9,670 | €12,051 | +€2,381 | +24.6% |
| Financial income | 75/76B | €9 | €2 | -€7 | -81.2% |
| Recurring financial income | 75 | €9 | €2 | -€7 | -81.2% |
| Financial charges | 65/66B | €2,993 | €4,137 | +€1,144 | +38.2% |
| Recurring financial charges | 65 | €2,993 | €4,137 | +€1,144 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | €6,687 | €7,916 | +€1,229 | +18.4% |
| Income taxes | 67/77 | - | €2,018 | +€2,018 | |
| Profit (loss) for the period | 9904 | €6,687 | €5,898 | -€788 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,687 | €5,898 | -€788 | -11.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.