KELNIC: 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.
KELNIC
Largest movements
- Tangible fixed assets -€11,533
down €11,533 (-4.9%), from €233,822 to €222,290
of which Land and buildings: -€5,773
- Profit (loss) carried forward -€18,871
down €18,871 (-12.9%), from -€145,746 to -€164,616
- Other debts +€7,522
up €7,522 (+2.6%), from €286,843 to €294,365
- Gross operating margin -€3,017
down €3,017 (-185.4%), from -€1,627 to -€4,644
- Financial charges -€332
down €332 (-89.9%), from €370 to €38
- Other operating charges -€304
down €304 (-10.9%), from €2,786 to €2,482
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 | €234,552 | €223,213 | -€11,339 | -4.8% |
| Fixed assets | 21/28 | €233,822 | €222,290 | -€11,533 | -4.9% |
| Tangible fixed assets | 22/27 | €233,822 | €222,290 | -€11,533 | -4.9% |
| Land and buildings | 22 | €197,966 | €192,193 | -€5,773 | -2.9% |
| Plant, machinery and equipment | 23 | €35,856 | €30,096 | -€5,760 | -16.1% |
| Current assets | 29/58 | €730 | €924 | +€194 | +26.5% |
| Cash at bank and in hand | 54/58 | €730 | €924 | +€194 | +26.5% |
| Total equity and liabilities | 10/49 | €234,552 | €223,213 | -€11,339 | -4.8% |
| Equity | 10/15 | -€52,455 | -€71,326 | -€18,871 | -36.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €31,791 | €31,791 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €25,641 | €25,641 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€145,746 | -€164,616 | -€18,871 | -12.9% |
| Amounts payable | 17/49 | €287,007 | €294,539 | +€7,532 | +2.6% |
| Amounts payable within one year | 42/48 | €287,007 | €294,539 | +€7,532 | +2.6% |
| Trade debts | 44 | €164 | €174 | +€10 | +6.1% |
| Suppliers | 440/4 | €164 | €174 | +€10 | +6.1% |
| Other amounts payable | 47/48 | €286,843 | €294,365 | +€7,522 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,546 | €11,533 | -€13 | -0.1% |
| Other operating charges | 640/8 | €2,786 | €2,482 | -€304 | -10.9% |
| Gross operating margin | 9900 | -€1,627 | -€4,644 | -€3,017 | -185.4% |
| Operating profit (loss) | 9901 | -€15,959 | -€18,659 | -€2,700 | -16.9% |
| Financial charges | 65/66B | €370 | €38 | -€332 | -89.9% |
| Recurring financial charges | 65 | €370 | €38 | -€332 | -89.9% |
| Profit (loss) for the period before taxes | 9903 | -€16,329 | -€18,696 | -€2,368 | -14.5% |
| Income taxes | 67/77 | €164 | €174 | +€10 | +6.1% |
| Profit (loss) for the period | 9904 | -€16,493 | -€18,871 | -€2,378 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,493 | -€18,871 | -€2,378 | -14.4% |
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 6 October 2026 via checked.be.