Keminal: 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.
Keminal
Largest movements
- Tangible fixed assets +€1.6m
up €1.6m (+2,090%), from €78,319 to €1.7m
of which Land and buildings: +€1.6m
- Receivables within one year +€272,280
up €272,280 (+3,584%), from €7,598 to €279,878
of which Trade receivables: +€255,880
- Debts after one year +€2.0m
up €2.0m (+4,820%), from €41,495 to €2.0m
of which Financial debts: +€2.0m
- Profit (loss) carried forward -€87,089
down €87,089 (-283%), from -€30,788 to -€117,877
- Trade debts +€22,873
up €22,873 (+1,745%), from €1,311 to €24,183
- Other debts -€22,350
down €22,350 (-32.9%), from €67,935 to €45,585
- Financial charges +€80,890
up €80,890 (+838%), from €9,650 to €90,540
- Depreciation +€16,398
up €16,398 (+131%), from €12,500 to €28,898
- Gross operating margin +€8,638
up €8,638 (+34.5%), from €25,035 to €33,673
- Other operating charges +€352
up €352 (+36.3%), from €971 to €1,323
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 | €86,353 | €2,003,926 | +€1.9m | +2,221% |
| Fixed assets | 21/28 | €78,754 | €1,715,799 | +€1.6m | +2,079% |
| Tangible fixed assets | 22/27 | €78,319 | €1,715,364 | +€1.6m | +2,090% |
| Land and buildings | 22 | - | €1,558,872 | +€1.6m | |
| Plant, machinery and equipment | 23 | €78,319 | €156,492 | +€78,173 | +99.8% |
| Financial fixed assets | 28 | €435 | €435 | = | 0.0% |
| Current assets | 29/58 | €7,598 | €288,127 | +€280,529 | +3,692% |
| Amounts receivable within one year | 40/41 | €7,598 | €279,878 | +€272,280 | +3,584% |
| Trade receivables | 40 | €7,495 | €263,375 | +€255,880 | +3,414% |
| Other amounts receivable | 41 | €103 | €16,503 | +€16,400 | +15,942% |
| Cash at bank and in hand | 54/58 | - | €5,329 | +€5,329 | |
| Deferred charges and accrued income | 490/1 | - | €2,920 | +€2,920 | |
| Total equity and liabilities | 10/49 | €86,353 | €2,003,926 | +€1.9m | +2,221% |
| Equity | 10/15 | -€24,388 | -€111,477 | -€87,089 | -357% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,788 | -€117,877 | -€87,089 | -283% |
| Amounts payable | 17/49 | €110,740 | €2,115,403 | +€2.0m | +1,810% |
| Amounts payable after more than one year | 17 | €41,495 | €2,041,495 | +€2.0m | +4,820% |
| Financial debts | 170/4 | - | €2,000,000 | +€2.0m | |
| Other amounts payable | 178/9 | €41,495 | €41,495 | = | 0.0% |
| Amounts payable within one year | 42/48 | €69,246 | €73,908 | +€4,662 | +6.7% |
| Trade debts | 44 | €1,311 | €24,183 | +€22,873 | +1,745% |
| Suppliers | 440/4 | €1,311 | €24,183 | +€22,873 | +1,745% |
| Taxes, remuneration and social security | 45 | - | €4,140 | +€4,140 | |
| Taxes | 450/3 | - | €4,140 | +€4,140 | |
| Other amounts payable | 47/48 | €67,935 | €45,585 | -€22,350 | -32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,500 | €28,898 | +€16,398 | +131% |
| Other operating charges | 640/8 | €971 | €1,323 | +€352 | +36.3% |
| Gross operating margin | 9900 | €25,035 | €33,673 | +€8,638 | +34.5% |
| Operating profit (loss) | 9901 | €11,564 | €3,451 | -€8,113 | -70.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €9,650 | €90,540 | +€80,890 | +838% |
| Recurring financial charges | 65 | €9,650 | €90,540 | +€80,890 | +838% |
| Profit (loss) for the period before taxes | 9903 | €1,914 | -€87,089 | -€89,003 | |
| Profit (loss) for the period | 9904 | €1,914 | -€87,089 | -€89,003 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,914 | -€87,089 | -€89,003 |
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 15 October 2026 via checked.be.