Kelly Dorekens: 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.
Kelly Dorekens
Largest movements
- Current investments -€95,000
down €95,000 (-47.5%), from €200,000 to €105,000
- Tangible fixed assets -€7,483
down €7,483 (-24.0%), from €31,169 to €23,685
- Cash +€6,336
up €6,336 (+13.2%), from €48,161 to €54,497
mainly Net result for the year (+€235,822) and Other debts (+€111,446)
- Deferred charges and accrued income -€3,962
down €3,962 (-93.4%), from €4,241 to €278
- Reserves -€214,377
down €214,377 (-100%), from €214,377 to €0
- Other debts +€111,446
up €111,446 (+7,521%), from €1,482 to €112,927
- Gross operating margin +€29,010
up €29,010 (+10.2%), from €284,995 to €314,004
- Taxes +€7,220
up €7,220 (+11.0%), from €65,436 to €72,656
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 | €284,520 | €184,392 | -€100,128 | -35.2% |
| Fixed assets | 21/28 | €31,169 | €23,685 | -€7,483 | -24.0% |
| Tangible fixed assets | 22/27 | €31,169 | €23,685 | -€7,483 | -24.0% |
| Furniture and vehicles | 24 | €31,169 | €23,685 | -€7,483 | -24.0% |
| Current assets | 29/58 | €253,351 | €160,707 | -€92,644 | -36.6% |
| Amounts receivable within one year | 40/41 | €950 | €932 | -€18 | -1.9% |
| Other amounts receivable | 41 | €950 | €932 | -€18 | -1.9% |
| Current investments | 50/53 | €200,000 | €105,000 | -€95,000 | -47.5% |
| Cash at bank and in hand | 54/58 | €48,161 | €54,497 | +€6,336 | +13.2% |
| Deferred charges and accrued income | 490/1 | €4,241 | €278 | -€3,962 | -93.4% |
| Total equity and liabilities | 10/49 | €284,520 | €184,392 | -€100,128 | -35.2% |
| Equity | 10/15 | €244,377 | €30,000 | -€214,377 | -87.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €214,377 | €0 | -€214,377 | -100% |
| Distributable reserves | 133 | €214,377 | €0 | -€214,377 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €40,143 | €154,392 | +€114,249 | +285% |
| Amounts payable within one year | 42/48 | €39,820 | €154,056 | +€114,236 | +287% |
| Trade debts | 44 | €419 | €854 | +€436 | +104% |
| Suppliers | 440/4 | €419 | €854 | +€436 | +104% |
| Taxes, remuneration and social security | 45 | €37,919 | €40,274 | +€2,355 | +6.2% |
| Taxes | 450/3 | €35,299 | €37,654 | +€2,355 | +6.7% |
| Remuneration and social security | 454/9 | €2,620 | €2,620 | = | 0.0% |
| Other amounts payable | 47/48 | €1,482 | €112,927 | +€111,446 | +7,521% |
| Accrued charges and deferred income | 492/3 | €323 | €336 | +€13 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,851 | €7,483 | +€1,633 | +27.9% |
| Other operating charges | 640/8 | €594 | €609 | +€14 | +2.4% |
| Gross operating margin | 9900 | €284,995 | €314,004 | +€29,010 | +10.2% |
| Operating profit (loss) | 9901 | €278,549 | €305,912 | +€27,363 | +9.8% |
| Financial income | 75/76B | €1,303 | €2,627 | +€1,325 | +102% |
| Recurring financial income | 75 | €1,303 | €2,627 | +€1,325 | +102% |
| Financial charges | 65/66B | €39 | €62 | +€23 | +57.8% |
| Recurring financial charges | 65 | €39 | €62 | +€23 | +57.8% |
| Profit (loss) for the period before taxes | 9903 | €279,813 | €308,478 | +€28,665 | +10.2% |
| Income taxes | 67/77 | €65,436 | €72,656 | +€7,220 | +11.0% |
| Profit (loss) for the period | 9904 | €214,377 | €235,822 | +€21,445 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €214,377 | €235,822 | +€21,445 | +10.0% |
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 26 October 2026 via checked.be.