KEMATI: 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.
KEMATI
Largest movements
- Tangible fixed assets +€164,875
up €164,875 (+31.5%), from €523,710 to €688,585
of which Land and buildings: +€165,000
- Cash -€148,672
down €148,672 (-62.5%), from €237,825 to €89,153
mainly Investment in fixed assets (net) (-€165,000) and Net result for the year (-€23,077)
- Receivables within one year -€54,561
down €54,561 (-11.4%), from €477,373 to €422,812
of which Other amounts receivable: -€73,087
- Profit (loss) carried forward -€23,077
down €23,077 (-4.3%), from €536,704 to €513,627
- Trade debts -€14,683
down €14,683 (-98.6%), from €14,887 to €204
- Gross operating margin +€35,158
up €35,158 (+56.2%), from -€62,604 to -€27,447
- Financial income -€5,446
down €5,446 (-53.4%), from €10,206 to €4,760
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 | €1,439,921 | €1,401,562 | -€38,358 | -2.7% |
| Fixed assets | 21/28 | €524,723 | €689,597 | +€164,875 | +31.4% |
| Tangible fixed assets | 22/27 | €523,710 | €688,585 | +€164,875 | +31.5% |
| Land and buildings | 22 | €523,585 | €688,585 | +€165,000 | +31.5% |
| Furniture and vehicles | 24 | €125 | - | -€125 | |
| Financial fixed assets | 28 | €1,013 | €1,013 | = | 0.0% |
| Current assets | 29/58 | €915,198 | €711,965 | -€203,233 | -22.2% |
| Amounts receivable within one year | 40/41 | €477,373 | €422,812 | -€54,561 | -11.4% |
| Trade receivables | 40 | €366,186 | €384,712 | +€18,526 | +5.1% |
| Other amounts receivable | 41 | €111,187 | €38,100 | -€73,087 | -65.7% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €237,825 | €89,153 | -€148,672 | -62.5% |
| Total equity and liabilities | 10/49 | €1,439,921 | €1,401,562 | -€38,358 | -2.7% |
| Equity | 10/15 | €1,424,404 | €1,401,327 | -€23,077 | -1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €869,100 | €869,100 | = | 0.0% |
| Distributable reserves | 133 | €869,100 | €869,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €536,704 | €513,627 | -€23,077 | -4.3% |
| Amounts payable | 17/49 | €15,517 | €235 | -€15,282 | -98.5% |
| Amounts payable within one year | 42/48 | €15,517 | €235 | -€15,282 | -98.5% |
| Trade debts | 44 | €14,887 | €204 | -€14,683 | -98.6% |
| Suppliers | 440/4 | €14,887 | €204 | -€14,683 | -98.6% |
| Other amounts payable | 47/48 | €630 | €31 | -€599 | -95.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €238 | €125 | -€112 | -47.3% |
| Other operating charges | 640/8 | - | €166 | +€166 | |
| Gross operating margin | 9900 | -€62,604 | -€27,447 | +€35,158 | +56.2% |
| Operating profit (loss) | 9901 | -€62,842 | -€27,738 | +€35,104 | +55.9% |
| Financial income | 75/76B | €10,206 | €4,760 | -€5,446 | -53.4% |
| Recurring financial income | 75 | €10,206 | €4,760 | -€5,446 | -53.4% |
| Financial charges | 65/66B | €100 | €98 | -€2 | -1.6% |
| Recurring financial charges | 65 | €100 | €98 | -€2 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | -€52,736 | -€23,077 | +€29,659 | +56.2% |
| Income taxes | 67/77 | €556 | - | -€556 | |
| Profit (loss) for the period | 9904 | -€53,292 | -€23,077 | +€30,215 | +56.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,292 | -€23,077 | +€30,215 | +56.7% |
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 4 October 2026 via checked.be.