KEMISO: 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.
KEMISO
Largest movements
- Cash +€23,584
up €23,584 (+83.1%), from €28,384 to €51,968
mainly Net result for the year (+€38,954) and Short-term financial debts (+€24,000)
- Tangible fixed assets +€15,325
up €15,325 (+127%), from €12,066 to €27,392
- Receivables within one year +€10,565
up €10,565 (+5.9%), from €178,031 to €188,596
of which Trade receivables: +€15,520
- Deferred charges and accrued income +€5,076
up €5,076 (+237%), from €2,142 to €7,218
- Reserves +€38,954
up €38,954 (+75.9%), from €51,331 to €90,285
- Short-term financial debts +€24,000
new in 2025: €24,000
- Debts after one year -€20,401
down €20,401 (-26.9%), from €75,769 to €55,368
- Advances received +€15,919
up €15,919 (+103%), from €15,403 to €31,322
- Tax, wage and social debts -€10,146
down €10,146 (-29.3%), from €34,611 to €24,465
- Taxes +€23,617
up €23,617, from -€715 to €22,903
- Gross operating margin +€16,036
up €16,036 (+28.8%), from €55,671 to €71,707
- Financial income +€6,016
up €6,016 (+2,981%), from €202 to €6,218
- Write-downs -€3,920
down €3,920, from €1,960 to -€1,960
- Other operating charges +€3,766
up €3,766 (+184%), from €2,046 to €5,812
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 | €220,624 | €275,173 | +€54,549 | +24.7% |
| Fixed assets | 21/28 | €12,066 | €27,392 | +€15,325 | +127% |
| Tangible fixed assets | 22/27 | €12,066 | €27,392 | +€15,325 | +127% |
| Land and buildings | 22 | €1,680 | €1,446 | -€233 | -13.9% |
| Plant, machinery and equipment | 23 | - | €5,685 | +€5,685 | |
| Furniture and vehicles | 24 | €10,387 | €13,573 | +€3,187 | +30.7% |
| Other tangible fixed assets | 26 | - | €6,688 | +€6,688 | |
| Current assets | 29/58 | €208,557 | €247,781 | +€39,224 | +18.8% |
| Amounts receivable within one year | 40/41 | €178,031 | €188,596 | +€10,565 | +5.9% |
| Trade receivables | 40 | €16,469 | €31,989 | +€15,520 | +94.2% |
| Other amounts receivable | 41 | €161,562 | €156,607 | -€4,955 | -3.1% |
| Cash at bank and in hand | 54/58 | €28,384 | €51,968 | +€23,584 | +83.1% |
| Deferred charges and accrued income | 490/1 | €2,142 | €7,218 | +€5,076 | +237% |
| Total equity and liabilities | 10/49 | €220,624 | €275,173 | +€54,549 | +24.7% |
| Equity | 10/15 | €63,731 | €102,685 | +€38,954 | +61.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €51,331 | €90,285 | +€38,954 | +75.9% |
| Distributable reserves | 133 | €51,331 | €90,285 | +€38,954 | +75.9% |
| Amounts payable | 17/49 | €156,893 | €172,489 | +€15,596 | +9.9% |
| Amounts payable after more than one year | 17 | €75,769 | €55,368 | -€20,401 | -26.9% |
| Financial debts | 170/4 | €75,769 | €55,368 | -€20,401 | -26.9% |
| Amounts payable within one year | 42/48 | €77,242 | €113,670 | +€36,428 | +47.2% |
| Current portion of amounts payable after more than one year | 42 | €19,071 | €20,439 | +€1,368 | +7.2% |
| Financial debts | 43 | - | €24,000 | +€24,000 | |
| Other loans | 439 | - | €24,000 | +€24,000 | |
| Trade debts | 44 | €8,156 | €13,443 | +€5,287 | +64.8% |
| Suppliers | 440/4 | €8,156 | €13,443 | +€5,287 | +64.8% |
| Advances received on contracts in progress | 46 | €15,403 | €31,322 | +€15,919 | +103% |
| Taxes, remuneration and social security | 45 | €34,611 | €24,465 | -€10,146 | -29.3% |
| Taxes | 450/3 | €34,611 | €24,465 | -€10,146 | -29.3% |
| Accrued charges and deferred income | 492/3 | €3,882 | €3,451 | -€431 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €963 | €4,719 | +€3,756 | +390% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,960 | -€1,960 | -€3,920 | |
| Other operating charges | 640/8 | €2,046 | €5,812 | +€3,766 | +184% |
| Non-recurring operating charges | 66A | - | €168 | +€168 | |
| Gross operating margin | 9900 | €55,671 | €71,707 | +€16,036 | +28.8% |
| Operating profit (loss) | 9901 | €50,702 | €62,968 | +€12,265 | +24.2% |
| Financial income | 75/76B | €202 | €6,218 | +€6,016 | +2,981% |
| Recurring financial income | 75 | €202 | €6,218 | +€6,016 | +2,981% |
| Financial charges | 65/66B | €7,296 | €7,329 | +€34 | +0.5% |
| Recurring financial charges | 65 | €7,296 | €7,329 | +€34 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €43,609 | €61,856 | +€18,248 | +41.8% |
| Income taxes | 67/77 | -€715 | €22,903 | +€23,617 | |
| Profit (loss) for the period | 9904 | €44,323 | €38,954 | -€5,370 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,323 | €38,954 | -€5,370 | -12.1% |
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 19 October 2026 via checked.be.