KEMAZ: 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.
KEMAZ
Largest movements
- Tangible fixed assets +€258,816
up €258,816 (+116.4%), from €222,307 to €481,122
of which Land and buildings: +€231,863
- Receivables after one year +€89,747
up €89,747 (+85.3%), from €105,253 to €195,000
- Cash -€58,017
down €58,017 (-90.3%), from €64,253 to €6,236
mainly Investment in fixed assets (net) (-€329,583) and Receivables after one year (-€89,747)
- Receivables within one year -€18,130
down €18,130 (-14.9%), from €121,826 to €103,696
of which Trade receivables: -€13,684
- Financial fixed assets +€10,000
new in 2025: €10,000
- Other debts +€339,230
up €339,230 (+186.0%), from €182,338 to €521,569
- Reserves -€33,440
down €33,440 (-14.7%), from €227,425 to €193,985
of which Distributable reserves: -€33,440
- Debts after one year -€15,000
down €15,000 (-25.5%), from €58,750 to €43,750
- Gross operating margin -€67,511
down €67,511 (-70.8%), from €95,372 to €27,861
- Taxes -€12,661
down €12,661 (-99.1%), from €12,776 to €116
- Depreciation +€10,465
up €10,465 (+20.8%), from €50,302 to €60,767
- Other operating charges -€2,145
down €2,145 (-72.8%), from €2,945 to €800
- Financial income -€1,850
down €1,850 (-32.1%), from €5,764 to €3,915
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 | €513,639 | €796,055 | +€282,416 | +55.0% |
| Fixed assets | 21/28 | €222,307 | €491,122 | +€268,816 | +120.9% |
| Tangible fixed assets | 22/27 | €222,307 | €481,122 | +€258,816 | +116.4% |
| Land and buildings | 22 | €203,733 | €435,596 | +€231,863 | +113.8% |
| Plant, machinery and equipment | 23 | €9,937 | €38,006 | +€28,070 | +282.5% |
| Furniture and vehicles | 24 | €8,637 | €7,520 | -€1,117 | -12.9% |
| Financial fixed assets | 28 | - | €10,000 | +€10,000 | |
| Current assets | 29/58 | €291,333 | €304,932 | +€13,600 | +4.7% |
| Amounts receivable after more than one year | 29 | €105,253 | €195,000 | +€89,747 | +85.3% |
| Other amounts receivable | 291 | €105,253 | €195,000 | +€89,747 | +85.3% |
| Amounts receivable within one year | 40/41 | €121,826 | €103,696 | -€18,130 | -14.9% |
| Trade receivables | 40 | €18,618 | €4,935 | -€13,684 | -73.5% |
| Other amounts receivable | 41 | €103,208 | €98,761 | -€4,447 | -4.3% |
| Cash at bank and in hand | 54/58 | €64,253 | €6,236 | -€58,017 | -90.3% |
| Total equity and liabilities | 10/49 | €513,639 | €796,055 | +€282,416 | +55.0% |
| Equity | 10/15 | €247,425 | €213,985 | -€33,440 | -13.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €227,425 | €193,985 | -€33,440 | -14.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €227,425 | €193,985 | -€33,440 | -14.7% |
| Amounts payable | 17/49 | €266,214 | €582,069 | +€315,856 | +118.6% |
| Amounts payable after more than one year | 17 | €58,750 | €43,750 | -€15,000 | -25.5% |
| Financial debts | 170/4 | €58,750 | €43,750 | -€15,000 | -25.5% |
| Amounts payable within one year | 42/48 | €207,464 | €538,319 | +€330,856 | +159.5% |
| Current portion of amounts payable after more than one year | 42 | €15,000 | €15,000 | = | 0.0% |
| Trade debts | 44 | €4,672 | €1,631 | -€3,041 | -65.1% |
| Suppliers | 440/4 | €4,672 | €1,631 | -€3,041 | -65.1% |
| Taxes, remuneration and social security | 45 | €5,454 | €120 | -€5,334 | -97.8% |
| Taxes | 450/3 | €5,454 | €120 | -€5,334 | -97.8% |
| Other amounts payable | 47/48 | €182,338 | €521,569 | +€339,230 | +186.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,302 | €60,767 | +€10,465 | +20.8% |
| Other operating charges | 640/8 | €2,945 | €800 | -€2,145 | -72.8% |
| Gross operating margin | 9900 | €95,372 | €27,861 | -€67,511 | -70.8% |
| Operating profit (loss) | 9901 | €42,125 | -€33,706 | -€75,831 | |
| Financial income | 75/76B | €5,764 | €3,915 | -€1,850 | -32.1% |
| Recurring financial income | 75 | €5,764 | €3,915 | -€1,850 | -32.1% |
| Financial charges | 65/66B | €4,232 | €3,533 | -€699 | -16.5% |
| Recurring financial charges | 65 | €4,232 | €3,533 | -€699 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €43,657 | -€33,324 | -€76,981 | |
| Income taxes | 67/77 | €12,776 | €116 | -€12,661 | -99.1% |
| Profit (loss) for the period | 9904 | €30,881 | -€33,440 | -€64,321 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,881 | -€33,440 | -€64,321 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.