KEMAT: 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.
What changed
KEMAT
NACE 46.851, Wholesale of industrial chemicals
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€840,780
2024 · -€451,117+€1.3m
Equity
€5.8m
2024 · €5.2m+€540,780
Cash
€726,500
2024 · €398,680+€327,820
Balance sheet total
€16.9m
2024 · €10.9m+€5.9m
Largest movements
Assets
- Stocks and contracts +€4.9m
up €4.9m (+238.8%), from €2.0m to €6.9m
- Receivables within one year +€679,900
up €679,900 (+8.3%), from €8.2m to €8.8m
of which Trade receivables: +€3.8m
- Cash +€327,820
up €327,820 (+82.2%), from €398,680 to €726,500
mainly Trade debts (+€3.6m) and Net result for the year (+€840,780)
Equity and liabilities
- Trade debts +€3.6m
up €3.6m (+241.7%), from €1.5m to €5.1m
- Other debts +€817,728
new in 2025: €817,728
- Short-term financial debts +€765,285
up €765,285 (+20.0%), from €3.8m to €4.6m
- Reserves +€540,780
up €540,780 (+10.5%), from €5.1m to €5.7m
of which Distributable reserves: +€540,780
Income statement
- Goods and materials -€5.5m
down €5.5m (-32.0%), from €17.1m to €11.6m
of which Change in stocks: decrease (increase): -€7.3m
- Turnover -€4.0m
down €4.0m (-20.9%), from €19.0m to €15.0m
- Financial charges -€514,823
down €514,823 (-49.5%), from €1.0m to €525,610
- Financial income -€276,816
down €276,816 (-59.0%), from €469,236 to €192,420
- Services and other goods +€204,244
up €204,244 (+12.1%), from €1.7m to €1.9m
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
-€451,117
Turnover
-€4.0m
Goods and materials
+€5.5m
Services and other goods
-€204,244
Depreciation
+€3,001
Write-downs
-€32,592
Other operating charges
-€176,257
Financial income
-€276,816
Financial charges
+€514,823
Taxes
-€50,015
Result 2025
€840,780
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.
From operations
-€85,833
Investment
-€36,632
Financing
+€450,285
Cash 2024
€398,680
From operations (derived)
-€85,833
Net result for the year
+€840,780
Depreciation
+€13,587
Stocks and contracts
-€4.9m
Receivables within one year
-€679,900
Deferred charges and accrued income
-€1,915
Trade debts
+€3.6m
Tax, wage and social debts
+€89,179
Other debts
+€817,728
Accrued charges and deferred income
+€91,283
Investment (derived)
-€36,632
Investment in fixed assets (net)
-€36,632
Financing
+€450,285
Debts after one year
-€20,390
Current portion of long-term debt
+€5,390
Short-term financial debts
+€765,285
Contributions, distributions and other
-€300,000
Cash 2025
€726,500
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,941,433 | €16,865,048 | +€5.9m | +54.1% |
| Fixed assets | 21/28 | €62,123 | €85,168 | +€23,045 | +37.1% |
| Tangible fixed assets | 22/27 | €35,858 | €58,903 | +€23,045 | +64.3% |
| Plant, machinery and equipment | 23 | €16,257 | €12,042 | -€4,215 | -25.9% |
| Furniture and vehicles | 24 | €9,140 | €37,894 | +€28,754 | +314.6% |
| Other tangible fixed assets | 26 | €10,461 | €8,967 | -€1,494 | -14.3% |
| Financial fixed assets | 28 | €26,265 | €26,265 | = | 0.0% |
| Other financial fixed assets | 284/8 | €26,265 | €26,265 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €26,265 | €26,265 | = | 0.0% |
| Current assets | 29/58 | €10,879,310 | €16,779,880 | +€5.9m | +54.2% |
| Amounts receivable after more than one year | 29 | €218,333 | €218,333 | = | 0.0% |
| Other amounts receivable | 291 | €218,333 | €218,333 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,048,042 | €6,938,977 | +€4.9m | +238.8% |
| Stocks | 30/36 | €2,048,042 | €6,938,977 | +€4.9m | +238.8% |
| Goods purchased for resale | 34 | €2,048,042 | €6,938,977 | +€4.9m | +238.8% |
| Amounts receivable within one year | 40/41 | €8,166,329 | €8,846,229 | +€679,900 | +8.3% |
| Trade receivables | 40 | €1,876,625 | €5,669,134 | +€3.8m | +202.1% |
| Other amounts receivable | 41 | €6,289,704 | €3,177,095 | -€3.1m | -49.5% |
| Cash at bank and in hand | 54/58 | €398,680 | €726,500 | +€327,820 | +82.2% |
| Deferred charges and accrued income | 490/1 | €47,926 | €49,841 | +€1,915 | +4.0% |
| Total equity and liabilities | 10/49 | €10,941,433 | €16,865,048 | +€5.9m | +54.1% |
| Equity | 10/15 | €5,216,999 | €5,757,779 | +€540,780 | +10.4% |
| Contributions | 10/11 | €81,509 | €81,509 | = | 0.0% |
| Capital | 10 | €81,509 | €81,509 | = | 0.0% |
| Issued capital | 100 | €81,509 | €81,509 | = | 0.0% |
| Reserves | 13 | €5,135,490 | €5,676,270 | +€540,780 | +10.5% |
| Non-distributable reserves | 130/1 | €8,152 | €8,152 | = | 0.0% |
| Legal reserve | 130 | €8,152 | €8,152 | = | 0.0% |
| Distributable reserves | 133 | €5,127,338 | €5,668,118 | +€540,780 | +10.5% |
| Amounts payable | 17/49 | €5,724,434 | €11,107,269 | +€5.4m | +94.0% |
| Amounts payable after more than one year | 17 | €237,310 | €216,920 | -€20,390 | -8.6% |
| Financial debts | 170/4 | €12,310 | €6,920 | -€5,390 | -43.8% |
| Credit institutions | 173 | €12,310 | €6,920 | -€5,390 | -43.8% |
| Other amounts payable | 178/9 | €225,000 | €210,000 | -€15,000 | -6.7% |
| Amounts payable within one year | 42/48 | €5,392,477 | €10,704,419 | +€5.3m | +98.5% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €35,390 | +€5,390 | +18.0% |
| Financial debts | 43 | €3,834,715 | €4,600,000 | +€765,285 | +20.0% |
| Credit institutions | 430/8 | €3,834,715 | €4,600,000 | +€765,285 | +20.0% |
| Trade debts | 44 | €1,503,923 | €5,138,283 | +€3.6m | +241.7% |
| Suppliers | 440/4 | €1,503,923 | €5,138,283 | +€3.6m | +241.7% |
| Taxes, remuneration and social security | 45 | €23,839 | €113,018 | +€89,179 | +374.1% |
| Taxes | 450/3 | €23,839 | €113,018 | +€89,179 | +374.1% |
| Other amounts payable | 47/48 | - | €817,728 | +€817,728 | |
| Accrued charges and deferred income | 492/3 | €94,647 | €185,930 | +€91,283 | +96.4% |
| Operating income | 70/76A | €18,956,313 | €14,993,620 | -€4.0m | -20.9% |
| Turnover | 70 | €18,956,313 | €14,993,620 | -€4.0m | -20.9% |
| Operating charges | 60/66A | €18,836,233 | €13,769,635 | -€5.1m | -26.9% |
| Goods for resale, raw materials and consumables | 60 | €17,090,450 | €11,613,760 | -€5.5m | -32.0% |
| Purchases | 600/8 | €14,743,948 | €16,541,175 | +€1.8m | +12.2% |
| Change in stocks: decrease (increase) | 609 | €2,346,502 | -€4,927,415 | -€7.3m | |
| Services and other goods | 61 | €1,688,892 | €1,893,136 | +€204,244 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,588 | €13,587 | -€3,001 | -18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,638 | €44,230 | +€32,592 | +280.0% |
| Other operating charges | 640/8 | €28,665 | €204,922 | +€176,257 | +614.9% |
| Operating profit (loss) | 9901 | €120,080 | €1,223,985 | +€1.1m | +919.3% |
| Financial income | 75/76B | €469,236 | €192,420 | -€276,816 | -59.0% |
| Recurring financial income | 75 | €469,236 | €192,420 | -€276,816 | -59.0% |
| Income from current assets | 751 | €11,582 | €15,644 | +€4,062 | +35.1% |
| Other financial income | 752/9 | €457,654 | €176,776 | -€280,878 | -61.4% |
| Financial charges | 65/66B | €1,040,433 | €525,610 | -€514,823 | -49.5% |
| Recurring financial charges | 65 | €1,040,433 | €525,610 | -€514,823 | -49.5% |
| Debt charges | 650 | €365,992 | €219,789 | -€146,203 | -39.9% |
| Other financial charges | 652/9 | €674,441 | €305,821 | -€368,620 | -54.7% |
| Profit (loss) for the period before taxes | 9903 | -€451,117 | €890,795 | +€1.3m | |
| Income taxes | 67/77 | - | €50,015 | +€50,015 | |
| Taxes | 670/3 | - | €50,015 | +€50,015 | |
| Profit (loss) for the period | 9904 | -€451,117 | €840,780 | +€1.3m | |
| Profit (loss) for the period to be appropriated | 9905 | -€451,117 | €840,780 | +€1.3m |
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 8 October 2026 via checked.be.