KEMISA: 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.
KEMISA
Largest movements
- Cash -€24,568
down €24,568 (-80.5%), from €30,517 to €5,949
mainly Net result for the year (-€29,400)
- Profit (loss) carried forward -€29,400
down €29,400 (-138%), from -€21,255 to -€50,655
- Financial charges +€6,363
up €6,363 (+41.1%), from €15,479 to €21,843
- Gross operating margin -€2,076
down €2,076 (-59.5%), from -€3,492 to -€5,568
- Depreciation -€900
no longer reported in 2025 (was €900)
- Other operating charges +€607
up €607 (+43.9%), from €1,383 to €1,990
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 | €725,525 | €696,345 | -€29,180 | -4.0% |
| Current assets | 29/58 | €725,525 | €696,345 | -€29,180 | -4.0% |
| Stocks and contracts in progress | 3 | €690,295 | €690,295 | = | 0.0% |
| Stocks | 30/36 | €690,295 | €690,295 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,713 | €101 | -€4,612 | -97.9% |
| Trade receivables | 40 | €356 | - | -€356 | |
| Other amounts receivable | 41 | €4,357 | €101 | -€4,256 | -97.7% |
| Cash at bank and in hand | 54/58 | €30,517 | €5,949 | -€24,568 | -80.5% |
| Total equity and liabilities | 10/49 | €725,525 | €696,345 | -€29,180 | -4.0% |
| Equity | 10/15 | €178,746 | €149,345 | -€29,400 | -16.4% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,255 | -€50,655 | -€29,400 | -138% |
| Amounts payable | 17/49 | €546,779 | €547,000 | +€220 | 0.0% |
| Amounts payable after more than one year | 17 | €546,000 | €546,000 | = | 0.0% |
| Financial debts | 170/4 | €546,000 | €546,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €779 | €1,000 | +€220 | +28.3% |
| Trade debts | 44 | €779 | €1,000 | +€220 | +28.3% |
| Suppliers | 440/4 | €779 | €1,000 | +€220 | +28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €900 | - | -€900 | |
| Other operating charges | 640/8 | €1,383 | €1,990 | +€607 | +43.9% |
| Gross operating margin | 9900 | -€3,492 | -€5,568 | -€2,076 | -59.5% |
| Operating profit (loss) | 9901 | -€5,775 | -€7,558 | -€1,783 | -30.9% |
| Financial charges | 65/66B | €15,479 | €21,843 | +€6,363 | +41.1% |
| Recurring financial charges | 65 | €15,479 | €21,843 | +€6,363 | +41.1% |
| Profit (loss) for the period before taxes | 9903 | -€21,255 | -€29,400 | -€8,146 | -38.3% |
| Profit (loss) for the period | 9904 | -€21,255 | -€29,400 | -€8,146 | -38.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,255 | -€29,400 | -€8,146 | -38.3% |
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.