Kemaco: 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.
What changed
Kemaco
NACE 46.810, Wholesale of solid, liquid and gaseous fuels and related products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€221,671
2024 · €143,666+€78,005
Equity
€2.3m
2024 · €2.1m+€221,671
Cash
€1.0m
2024 · €729,933+€316,309
Balance sheet total
€5.0m
2024 · €4.8m+€223,100
Largest movements
Assets
- Receivables within one year -€460,603
down €460,603 (-19.9%), from €2.3m to €1.9m
of which Trade receivables: -€344,754
- Cash +€316,309
up €316,309 (+43.3%), from €729,933 to €1.0m
mainly Receivables within one year (+€460,603) and Net result for the year (+€221,671)
- Deferred charges and accrued income +€265,108
up €265,108 (+25.7%), from €1.0m to €1.3m
- Tangible fixed assets +€188,126
up €188,126 (+41.6%), from €452,061 to €640,187
of which Land and buildings: +€221,071
- Stocks and contracts -€85,840
down €85,840 (-30.4%), from €282,660 to €196,820
Equity and liabilities
- Reserves +€269,966
up €269,966 (+15.1%), from €1.8m to €2.1m
of which Distributable reserves: +€143,666
- Trade debts -€86,026
down €86,026 (-3.6%), from €2.4m to €2.3m
- Debts after one year +€62,646
up €62,646 (+33.0%), from €189,652 to €252,298
Income statement
- Turnover +€25.3m
new in 2025: €25.3m
- Purchases and services +€24.5m
new in 2025: €24.5m
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.
Result 2024
€143,666
Gross operating margin
+€27,812
Staff costs
-€79,137
Depreciation
+€64,021
Other operating charges
-€5,156
Financial income
-€2,494
Financial charges
-€11,555
Taxes
+€313
Deferred taxes and other
+€84,200
Result 2025
€221,671
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€576,306
Investment
-€284,547
Financing
+€24,549
Cash 2024
€729,933
From operations (derived)
+€576,306
Net result for the year
+€221,671
Depreciation
+€96,421
Stocks and contracts
+€85,840
Receivables within one year
+€460,603
Deferred charges and accrued income
-€265,108
Trade debts
-€86,026
Tax, wage and social debts
+€2,906
Other debts
+€10,000
Accrued charges and deferred income
+€50,000
Investment (derived)
-€284,547
Investment in fixed assets (net)
-€284,547
Financing
+€24,549
Debts after one year
+€62,646
Current portion of long-term debt
-€38,097
Cash 2025
€1.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,815,230 | €5,038,329 | +€223,100 | +4.6% |
| Fixed assets | 21/28 | €452,061 | €640,187 | +€188,126 | +41.6% |
| Tangible fixed assets | 22/27 | €452,061 | €640,187 | +€188,126 | +41.6% |
| Land and buildings | 22 | €87,000 | €308,071 | +€221,071 | +254% |
| Plant, machinery and equipment | 23 | €15,390 | €15,713 | +€323 | +2.1% |
| Furniture and vehicles | 24 | €341,894 | €308,371 | -€33,523 | -9.8% |
| Leasing and similar rights | 25 | €7,777 | €8,032 | +€255 | +3.3% |
| Current assets | 29/58 | €4,363,169 | €4,398,143 | +€34,974 | +0.8% |
| Stocks and contracts in progress | 3 | €282,660 | €196,820 | -€85,840 | -30.4% |
| Stocks | 30/36 | €282,660 | €196,820 | -€85,840 | -30.4% |
| Amounts receivable within one year | 40/41 | €2,318,812 | €1,858,209 | -€460,603 | -19.9% |
| Trade receivables | 40 | €2,202,963 | €1,858,209 | -€344,754 | -15.6% |
| Other amounts receivable | 41 | €115,848 | - | -€115,848 | |
| Cash at bank and in hand | 54/58 | €729,933 | €1,046,242 | +€316,309 | +43.3% |
| Deferred charges and accrued income | 490/1 | €1,031,764 | €1,296,872 | +€265,108 | +25.7% |
| Total equity and liabilities | 10/49 | €4,815,230 | €5,038,329 | +€223,100 | +4.6% |
| Equity | 10/15 | €2,065,557 | €2,287,228 | +€221,671 | +10.7% |
| Contributions | 10/11 | €137,000 | €137,000 | = | 0.0% |
| Capital | 10 | €137,000 | €137,000 | = | 0.0% |
| Issued capital | 100 | €137,000 | €137,000 | = | 0.0% |
| Reserves | 13 | €1,784,891 | €2,054,857 | +€269,966 | +15.1% |
| Non-distributable reserves | 130/1 | €13,700 | €13,700 | = | 0.0% |
| Legal reserve | 130 | €13,700 | €13,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €234,085 | €360,385 | +€126,300 | +54.0% |
| Distributable reserves | 133 | €1,537,106 | €1,680,772 | +€143,666 | +9.3% |
| Profit (loss) carried forward | 14 | €143,666 | €95,371 | -€48,295 | -33.6% |
| Amounts payable | 17/49 | €2,749,672 | €2,751,101 | +€1,429 | +0.1% |
| Amounts payable after more than one year | 17 | €189,652 | €252,298 | +€62,646 | +33.0% |
| Financial debts | 170/4 | €189,652 | €252,298 | +€62,646 | +33.0% |
| Amounts payable within one year | 42/48 | €2,560,020 | €2,448,803 | -€111,217 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €116,328 | €78,231 | -€38,097 | -32.7% |
| Financial debts | 43 | €50,973 | €50,973 | = | 0.0% |
| Credit institutions | 430/8 | €50,973 | €50,973 | = | 0.0% |
| Trade debts | 44 | €2,372,719 | €2,286,693 | -€86,026 | -3.6% |
| Suppliers | 440/4 | €2,372,719 | €2,286,693 | -€86,026 | -3.6% |
| Taxes, remuneration and social security | 45 | - | €2,906 | +€2,906 | |
| Taxes | 450/3 | - | €2,906 | +€2,906 | |
| Other amounts payable | 47/48 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Accrued charges and deferred income | 492/3 | - | €50,000 | +€50,000 | |
| Turnover | 70 | - | €25,252,455 | +€25.3m | |
| Non-recurring operating income | 76A | - | €1,101 | +€1,101 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €24,477,518 | +€24.5m | |
| Remuneration, social security and pensions | 62 | €263,535 | €342,672 | +€79,137 | +30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €160,443 | €96,421 | -€64,021 | -39.9% |
| Other operating charges | 640/8 | €4,985 | €10,141 | +€5,156 | +103% |
| Gross operating margin | 9900 | €761,940 | €789,752 | +€27,812 | +3.7% |
| Operating profit (loss) | 9901 | €332,977 | €340,518 | +€7,541 | +2.3% |
| Financial income | 75/76B | €24,755 | €22,261 | -€2,494 | -10.1% |
| Recurring financial income | 75 | €24,755 | €22,261 | -€2,494 | -10.1% |
| Financial charges | 65/66B | €15,723 | €27,278 | +€11,555 | +73.5% |
| Recurring financial charges | 65 | €15,723 | €27,278 | +€11,555 | +73.5% |
| Profit (loss) for the period before taxes | 9903 | €342,009 | €335,501 | -€6,509 | -1.9% |
| Transfer to deferred taxes | 680 | €84,200 | - | -€84,200 | |
| Income taxes | 67/77 | €114,143 | €113,830 | -€313 | -0.3% |
| Profit (loss) for the period | 9904 | €143,666 | €221,671 | +€78,005 | +54.3% |
| Transfer to tax-exempt reserves | 689 | - | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €143,666 | €95,371 | -€48,295 | -33.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.