KEMAKO: 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.
KEMAKO
Largest movements
- Receivables within one year +€81,393
up €81,393 (+326%), from €25,000 to €106,393
of which Trade receivables: +€69,911
- Stocks and contracts +€26,570
up €26,570 (+133%), from €20,000 to €46,570
- Cash +€2,718
up €2,718 (+9.3%), from €29,263 to €31,981
mainly Trade debts (+€57,391) and Net result for the year (+€38,691)
- Trade debts +€57,391
up €57,391 (+171%), from €33,572 to €90,963
- Reserves +€38,691
up €38,691 (+207%), from €18,670 to €57,361
of which Distributable reserves: +€38,691
- Tax, wage and social debts +€15,089
up €15,089 (+515%), from €2,931 to €18,020
of which Taxes: +€15,089
- Gross operating margin +€48,159
up €48,159 (+776%), from €6,205 to €54,365
- Taxes +€11,158
up €11,158 (+333%), from €3,350 to €14,509
- Staff costs +€2,007
up €2,007, from -€2,007 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 | €74,263 | €184,944 | +€110,682 | +149% |
| Current assets | 29/58 | €74,263 | €184,944 | +€110,682 | +149% |
| Stocks and contracts in progress | 3 | €20,000 | €46,570 | +€26,570 | +133% |
| Stocks | 30/36 | €20,000 | €46,570 | +€26,570 | +133% |
| Amounts receivable within one year | 40/41 | €25,000 | €106,393 | +€81,393 | +326% |
| Trade receivables | 40 | €25,000 | €94,911 | +€69,911 | +280% |
| Other amounts receivable | 41 | €0 | €11,482 | +€11,482 | +57,412,250% |
| Cash at bank and in hand | 54/58 | €29,263 | €31,981 | +€2,718 | +9.3% |
| Total equity and liabilities | 10/49 | €74,263 | €184,944 | +€110,682 | +149% |
| Equity | 10/15 | €37,270 | €75,961 | +€38,691 | +104% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,670 | €57,361 | +€38,691 | +207% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €18,670 | €57,361 | +€38,691 | +207% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €36,993 | €108,983 | +€71,990 | +195% |
| Amounts payable within one year | 42/48 | €36,993 | €108,983 | +€71,990 | +195% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €33,572 | €90,963 | +€57,391 | +171% |
| Suppliers | 440/4 | €33,572 | €90,963 | +€57,391 | +171% |
| Taxes, remuneration and social security | 45 | €2,931 | €18,020 | +€15,089 | +515% |
| Taxes | 450/3 | €2,931 | €18,020 | +€15,089 | +515% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €490 | €0 | -€490 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | -€2,007 | €0 | +€2,007 | |
| Other operating charges | 640/8 | €627 | €481 | -€146 | -23.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €6,205 | €54,365 | +€48,159 | +776% |
| Operating profit (loss) | 9901 | €7,585 | €53,883 | +€46,299 | +610% |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €705 | €683 | -€21 | -3.0% |
| Recurring financial charges | 65 | €705 | €683 | -€21 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €6,880 | €53,200 | +€46,320 | +673% |
| Income taxes | 67/77 | €3,350 | €14,509 | +€11,158 | +333% |
| Profit (loss) for the period | 9904 | €3,530 | €38,691 | +€35,162 | +996% |
| Profit (loss) for the period to be appropriated | 9905 | €3,530 | €38,691 | +€35,162 | +996% |
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 31 October 2026 via checked.be.