Kelna: 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.
Kelna
Largest movements
- Current investments +€500,000
up €500,000 (+161.3%), from €310,000 to €810,000
- Cash -€250,785
down €250,785 (-31.3%), from €801,863 to €551,078
mainly Contributions, distributions and other (-€800,000) and Current investments (-€500,000)
- Tangible fixed assets -€56,758
down €56,758 (-18.4%), from €308,292 to €251,535
of which Land and buildings: -€60,876
- Other debts +€696,155
up €696,155 (+139.3%), from €499,845 to €1.2m
- Reserves -€449,990
down €449,990 (-38.3%), from €1.2m to €725,901
of which Distributable reserves: -€449,990
- Tax, wage and social debts -€52,244
down €52,244 (-32.0%), from €163,144 to €110,900
of which Taxes: -€55,647
- Gross operating margin -€151,390
down €151,390 (-12.0%), from €1.3m to €1.1m
- Provisions +€118,500
up €118,500, from -€118,500 to €0
- Taxes -€78,070
down €78,070 (-39.0%), from €200,154 to €122,085
- Staff costs +€51,804
up €51,804 (+10.2%), from €506,785 to €558,589
- Depreciation -€22,457
down €22,457 (-26.0%), from €86,293 to €63,836
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 | €2,014,607 | €2,191,972 | +€177,364 | +8.8% |
| Fixed assets | 21/28 | €309,658 | €252,900 | -€56,758 | -18.3% |
| Tangible fixed assets | 22/27 | €308,292 | €251,535 | -€56,758 | -18.4% |
| Land and buildings | 22 | €299,456 | €238,580 | -€60,876 | -20.3% |
| Plant, machinery and equipment | 23 | €259 | €6,808 | +€6,548 | +2523.7% |
| Furniture and vehicles | 24 | €8,577 | €6,147 | -€2,430 | -28.3% |
| Financial fixed assets | 28 | €1,366 | €1,366 | = | 0.0% |
| Current assets | 29/58 | €1,704,949 | €1,939,071 | +€234,122 | +13.7% |
| Stocks and contracts in progress | 3 | €506,313 | €491,920 | -€14,393 | -2.8% |
| Stocks | 30/36 | €506,313 | €491,920 | -€14,393 | -2.8% |
| Amounts receivable within one year | 40/41 | €85,055 | €68,314 | -€16,741 | -19.7% |
| Trade receivables | 40 | €28,874 | €28,335 | -€540 | -1.9% |
| Other amounts receivable | 41 | €56,181 | €39,979 | -€16,202 | -28.8% |
| Current investments | 50/53 | €310,000 | €810,000 | +€500,000 | +161.3% |
| Cash at bank and in hand | 54/58 | €801,863 | €551,078 | -€250,785 | -31.3% |
| Deferred charges and accrued income | 490/1 | €1,719 | €17,760 | +€16,041 | +933.4% |
| Total equity and liabilities | 10/49 | €2,014,607 | €2,191,972 | +€177,364 | +8.8% |
| Equity | 10/15 | €1,237,891 | €787,901 | -€449,990 | -36.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,175,891 | €725,901 | -€449,990 | -38.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,169,691 | €719,701 | -€449,990 | -38.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Amounts payable | 17/49 | €776,716 | €1,404,071 | +€627,355 | +80.8% |
| Amounts payable within one year | 42/48 | €776,716 | €1,404,071 | +€627,355 | +80.8% |
| Trade debts | 44 | €113,727 | €97,171 | -€16,555 | -14.6% |
| Suppliers | 440/4 | €113,727 | €97,171 | -€16,555 | -14.6% |
| Taxes, remuneration and social security | 45 | €163,144 | €110,900 | -€52,244 | -32.0% |
| Taxes | 450/3 | €96,126 | €40,478 | -€55,647 | -57.9% |
| Remuneration and social security | 454/9 | €67,018 | €70,422 | +€3,403 | +5.1% |
| Other amounts payable | 47/48 | €499,845 | €1,196,000 | +€696,155 | +139.3% |
| Remuneration, social security and pensions | 62 | €506,785 | €558,589 | +€51,804 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,293 | €63,836 | -€22,457 | -26.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€118,500 | €0 | +€118,500 | |
| Other operating charges | 640/8 | €16,358 | €16,951 | +€593 | +3.6% |
| Gross operating margin | 9900 | €1,259,666 | €1,108,276 | -€151,390 | -12.0% |
| Operating profit (loss) | 9901 | €768,729 | €468,900 | -€299,829 | -39.0% |
| Financial income | 75/76B | €15,926 | €4,585 | -€11,341 | -71.2% |
| Recurring financial income | 75 | €15,926 | €4,585 | -€11,341 | -71.2% |
| Financial charges | 65/66B | €1,137 | €1,391 | +€254 | +22.3% |
| Recurring financial charges | 65 | €1,137 | €1,391 | +€254 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | €783,519 | €472,094 | -€311,424 | -39.7% |
| Income taxes | 67/77 | €200,154 | €122,085 | -€78,070 | -39.0% |
| Profit (loss) for the period | 9904 | €583,364 | €350,010 | -€233,355 | -40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €583,364 | €350,010 | -€233,355 | -40.0% |
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 9 October 2026 via checked.be.