Kemax: 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.
Kemax
Largest movements
- Cash +€308,559
up €308,559 (+300.0%), from €102,843 to €411,403
mainly Net result for the year (+€211,130) and Other debts (+€129,361)
- Current investments -€100,000
down €100,000 (-28.5%), from €350,636 to €250,636
- Tangible fixed assets -€25,594
down €25,594 (-22.8%), from €112,173 to €86,579
of which Furniture and vehicles: -€17,207
- Receivables within one year -€24,433
down €24,433 (-70.4%), from €34,719 to €10,286
of which Trade receivables: -€25,001
- Other debts +€129,361
up €129,361 (+862.4%), from €15,000 to €144,361
- Reserves +€63,150
up €63,150 (+12.4%), from €507,901 to €571,051
of which Tax-exempt reserves: +€63,150
- Trade debts -€55,633
down €55,633 (-97.0%), from €57,335 to €1,703
- Tax, wage and social debts +€23,355
up €23,355 (+132.2%), from €17,660 to €41,015
of which Taxes: +€25,176
- Gross operating margin +€62,795
up €62,795 (+26.9%), from €233,581 to €296,376
- Taxes +€11,738
up €11,738 (+21.2%), from €55,290 to €67,028
- Financial income +€8,360
new in 2024: €8,360
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €600,996 | €761,330 | +€160,334 | +26.7% |
| Fixed assets | 21/28 | €112,173 | €86,579 | -€25,594 | -22.8% |
| Tangible fixed assets | 22/27 | €112,173 | €86,579 | -€25,594 | -22.8% |
| Furniture and vehicles | 24 | €29,535 | €12,328 | -€17,207 | -58.3% |
| Other tangible fixed assets | 26 | €82,638 | €74,251 | -€8,387 | -10.1% |
| Current assets | 29/58 | €488,823 | €674,751 | +€185,928 | +38.0% |
| Amounts receivable within one year | 40/41 | €34,719 | €10,286 | -€24,433 | -70.4% |
| Trade receivables | 40 | €25,001 | €0 | -€25,001 | -100.0% |
| Other amounts receivable | 41 | €9,718 | €10,286 | +€568 | +5.8% |
| Current investments | 50/53 | €350,636 | €250,636 | -€100,000 | -28.5% |
| Cash at bank and in hand | 54/58 | €102,843 | €411,403 | +€308,559 | +300.0% |
| Deferred charges and accrued income | 490/1 | €624 | €2,426 | +€1,802 | +288.7% |
| Total equity and liabilities | 10/49 | €600,996 | €761,330 | +€160,334 | +26.7% |
| Equity | 10/15 | €510,901 | €574,051 | +€63,150 | +12.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €507,901 | €571,051 | +€63,150 | +12.4% |
| Tax-exempt reserves | 132 | €63,150 | €126,300 | +€63,150 | +100.0% |
| Distributable reserves | 133 | €444,751 | €444,751 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €90,095 | €187,279 | +€97,184 | +107.9% |
| Amounts payable within one year | 42/48 | €90,095 | €187,178 | +€97,084 | +107.8% |
| Financial debts | 43 | €99 | €99 | = | 0.0% |
| Credit institutions | 430/8 | €99 | €99 | = | 0.0% |
| Trade debts | 44 | €57,335 | €1,703 | -€55,633 | -97.0% |
| Suppliers | 440/4 | €57,335 | €1,703 | -€55,633 | -97.0% |
| Taxes, remuneration and social security | 45 | €17,660 | €41,015 | +€23,355 | +132.2% |
| Taxes | 450/3 | €15,839 | €41,015 | +€25,176 | +158.9% |
| Remuneration and social security | 454/9 | €1,821 | €0 | -€1,821 | -100.0% |
| Other amounts payable | 47/48 | €15,000 | €144,361 | +€129,361 | +862.4% |
| Accrued charges and deferred income | 492/3 | - | €100 | +€100 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,594 | €25,594 | -€0 | 0.0% |
| Other operating charges | 640/8 | €499 | €623 | +€124 | +24.8% |
| Gross operating margin | 9900 | €233,581 | €296,376 | +€62,795 | +26.9% |
| Operating profit (loss) | 9901 | €207,487 | €270,158 | +€62,671 | +30.2% |
| Financial income | 75/76B | - | €8,360 | +€8,360 | |
| Recurring financial income | 75 | - | €8,360 | +€8,360 | |
| Financial charges | 65/66B | €1,874 | €361 | -€1,513 | -80.7% |
| Recurring financial charges | 65 | €1,874 | €361 | -€1,513 | -80.7% |
| Profit (loss) for the period before taxes | 9903 | €205,613 | €278,158 | +€72,544 | +35.3% |
| Income taxes | 67/77 | €55,290 | €67,028 | +€11,738 | +21.2% |
| Profit (loss) for the period | 9904 | €150,323 | €211,130 | +€60,806 | +40.5% |
| Transfer to tax-exempt reserves | 689 | €63,150 | €63,150 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €87,173 | €147,980 | +€60,806 | +69.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.