KELLY & PARTNERS: 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 & PARTNERS
Largest movements
- Receivables within one year -€1,476
down €1,476 (-20.6%), from €7,179 to €5,703
of which Other amounts receivable: -€2,263
- Cash +€904
up €904 (+20.3%), from €4,451 to €5,355
mainly Net result for the year (+€7,337) and Tax, wage and social debts (+€1,968)
- Tangible fixed assets -€513
down €513 (-11.5%), from €4,481 to €3,968
of which Other tangible fixed assets: -€993
- Deferred charges and accrued income -€384
down €384 (-24.6%), from €1,563 to €1,179
- Profit (loss) carried forward -€4,046
down €4,046 (-71.6%), from €5,648 to €1,602
- Tax, wage and social debts +€1,968
up €1,968 (+22.2%), from €8,884 to €10,852
- Trade debts +€729
up €729 (+1,640%), from €44 to €773
- Other debts -€271
no longer reported in 2025 (was €271)
- Gross operating margin -€7,444
down €7,444 (-32.3%), from €23,077 to €15,633
- Taxes -€1,874
down €1,874 (-32.0%), from €5,848 to €3,974
- Other operating charges -€868
down €868 (-49.5%), from €1,752 to €884
- Financial income -€351
down €351 (-100.0%), from €351 to €0
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 | €17,674 | €16,205 | -€1,469 | -8.3% |
| Fixed assets | 21/28 | €4,481 | €3,968 | -€513 | -11.5% |
| Tangible fixed assets | 22/27 | €4,481 | €3,968 | -€513 | -11.5% |
| Furniture and vehicles | 24 | - | €480 | +€480 | |
| Other tangible fixed assets | 26 | €4,481 | €3,488 | -€993 | -22.2% |
| Current assets | 29/58 | €13,193 | €12,237 | -€956 | -7.2% |
| Amounts receivable within one year | 40/41 | €7,179 | €5,703 | -€1,476 | -20.6% |
| Trade receivables | 40 | €1,271 | €2,058 | +€787 | +62.0% |
| Other amounts receivable | 41 | €5,908 | €3,645 | -€2,263 | -38.3% |
| Cash at bank and in hand | 54/58 | €4,451 | €5,355 | +€904 | +20.3% |
| Deferred charges and accrued income | 490/1 | €1,563 | €1,179 | -€384 | -24.6% |
| Total equity and liabilities | 10/49 | €17,674 | €16,205 | -€1,469 | -8.3% |
| Equity | 10/15 | €8,475 | €4,429 | -€4,046 | -47.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,827 | €1,827 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €1,727 | €1,727 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,648 | €1,602 | -€4,046 | -71.6% |
| Amounts payable | 17/49 | €9,199 | €11,776 | +€2,577 | +28.0% |
| Amounts payable within one year | 42/48 | €9,199 | €11,776 | +€2,577 | +28.0% |
| Trade debts | 44 | €44 | €773 | +€729 | +1,640% |
| Suppliers | 440/4 | €44 | €773 | +€729 | +1,640% |
| Advances received on contracts in progress | 46 | - | €151 | +€151 | |
| Taxes, remuneration and social security | 45 | €8,884 | €10,852 | +€1,968 | +22.2% |
| Taxes | 450/3 | €8,884 | €10,852 | +€1,968 | +22.2% |
| Other amounts payable | 47/48 | €271 | - | -€271 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €943 | €1,066 | +€123 | +13.1% |
| Other operating charges | 640/8 | €1,752 | €884 | -€868 | -49.5% |
| Non-recurring operating charges | 66A | €195 | €184 | -€11 | -5.5% |
| Gross operating margin | 9900 | €23,077 | €15,633 | -€7,444 | -32.3% |
| Operating profit (loss) | 9901 | €20,187 | €13,498 | -€6,689 | -33.1% |
| Financial income | 75/76B | €351 | €0 | -€351 | -100.0% |
| Recurring financial income | 75 | €351 | €0 | -€351 | -100.0% |
| Financial charges | 65/66B | €1,968 | €2,188 | +€220 | +11.2% |
| Recurring financial charges | 65 | €1,968 | €2,188 | +€220 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €18,571 | €11,310 | -€7,260 | -39.1% |
| Income taxes | 67/77 | €5,848 | €3,974 | -€1,874 | -32.0% |
| Profit (loss) for the period | 9904 | €12,722 | €7,337 | -€5,386 | -42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,722 | €7,337 | -€5,386 | -42.3% |
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 1 November 2026 via checked.be.