KEMPENEERS D.: 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.
KEMPENEERS D.
Largest movements
- Tangible fixed assets +€24,714
up €24,714 (+15.5%), from €159,856 to €184,570
of which Furniture and vehicles: +€31,594
- Receivables within one year -€16,749
down €16,749 (-10.0%), from €167,820 to €151,071
of which Trade receivables: -€14,394
- Stocks and contracts +€13,907
up €13,907 (+2.3%), from €603,782 to €617,689
- Deferred charges and accrued income -€12,844
down €12,844 (-64.2%), from €20,000 to €7,156
- Other debts +€45,218
up €45,218 (+300%), from €15,091 to €60,309
- Trade debts -€23,438
down €23,438 (-42.3%), from €55,347 to €31,909
- Reserves -€18,903
down €18,903 (-1.9%), from €987,646 to €968,743
- Debts after one year -€12,368
down €12,368 (-13.9%), from €89,187 to €76,820
- Staff costs -€27,458
down €27,458 (-16.4%), from €167,497 to €140,038
- Taxes +€8,809
up €8,809 (+152%), from €5,790 to €14,599
- Gross operating margin +€6,244
up €6,244 (+2.6%), from €239,973 to €246,218
- Financial charges -€3,679
down €3,679 (-25.6%), from €14,386 to €10,708
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 | €1,223,812 | €1,225,008 | +€1,196 | +0.1% |
| Fixed assets | 21/28 | €160,002 | €184,716 | +€24,714 | +15.4% |
| Intangible fixed assets | 21 | €25 | €25 | = | 0.0% |
| Tangible fixed assets | 22/27 | €159,856 | €184,570 | +€24,714 | +15.5% |
| Land and buildings | 22 | €62,234 | €59,553 | -€2,681 | -4.3% |
| Plant, machinery and equipment | 23 | €10,332 | €6,133 | -€4,199 | -40.6% |
| Furniture and vehicles | 24 | €87,290 | €118,884 | +€31,594 | +36.2% |
| Financial fixed assets | 28 | €121 | €121 | = | 0.0% |
| Current assets | 29/58 | €1,063,810 | €1,040,293 | -€23,518 | -2.2% |
| Stocks and contracts in progress | 3 | €603,782 | €617,689 | +€13,907 | +2.3% |
| Stocks | 30/36 | €603,782 | €617,689 | +€13,907 | +2.3% |
| Amounts receivable within one year | 40/41 | €167,820 | €151,071 | -€16,749 | -10.0% |
| Trade receivables | 40 | €77,532 | €63,138 | -€14,394 | -18.6% |
| Other amounts receivable | 41 | €90,288 | €87,932 | -€2,356 | -2.6% |
| Cash at bank and in hand | 54/58 | €272,209 | €264,377 | -€7,832 | -2.9% |
| Deferred charges and accrued income | 490/1 | €20,000 | €7,156 | -€12,844 | -64.2% |
| Total equity and liabilities | 10/49 | €1,223,812 | €1,225,008 | +€1,196 | +0.1% |
| Equity | 10/15 | €1,006,246 | €987,343 | -€18,903 | -1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €987,646 | €968,743 | -€18,903 | -1.9% |
| Distributable reserves | 133 | €987,646 | €968,743 | -€18,903 | -1.9% |
| Amounts payable | 17/49 | €217,566 | €237,666 | +€20,099 | +9.2% |
| Amounts payable after more than one year | 17 | €89,187 | €76,820 | -€12,368 | -13.9% |
| Financial debts | 170/4 | €89,187 | €76,820 | -€12,368 | -13.9% |
| Amounts payable within one year | 42/48 | €128,370 | €160,846 | +€32,476 | +25.3% |
| Current portion of amounts payable after more than one year | 42 | €22,515 | €34,483 | +€11,968 | +53.2% |
| Trade debts | 44 | €55,347 | €31,909 | -€23,438 | -42.3% |
| Suppliers | 440/4 | €55,347 | €31,909 | -€23,438 | -42.3% |
| Advances received on contracts in progress | 46 | €800 | €517 | -€283 | -35.4% |
| Taxes, remuneration and social security | 45 | €34,616 | €33,627 | -€989 | -2.9% |
| Taxes | 450/3 | €9,245 | €9,253 | +€9 | +0.1% |
| Remuneration and social security | 454/9 | €25,371 | €24,374 | -€997 | -3.9% |
| Other amounts payable | 47/48 | €15,091 | €60,309 | +€45,218 | +300% |
| Accrued charges and deferred income | 492/3 | €9 | - | -€9 | |
| Non-recurring operating income | 76A | - | €13,000 | +€13,000 | |
| Remuneration, social security and pensions | 62 | €167,497 | €140,038 | -€27,458 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,948 | €36,790 | -€158 | -0.4% |
| Other operating charges | 640/8 | €3,011 | €3,910 | +€899 | +29.9% |
| Gross operating margin | 9900 | €239,973 | €246,218 | +€6,244 | +2.6% |
| Operating profit (loss) | 9901 | €32,518 | €65,479 | +€32,961 | +101% |
| Financial income | 75/76B | €135 | €1,234 | +€1,099 | +815% |
| Recurring financial income | 75 | €135 | €1,234 | +€1,099 | +815% |
| Financial charges | 65/66B | €14,386 | €10,708 | -€3,679 | -25.6% |
| Recurring financial charges | 65 | €14,386 | €10,708 | -€3,679 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | €18,266 | €56,005 | +€37,739 | +207% |
| Income taxes | 67/77 | €5,790 | €14,599 | +€8,809 | +152% |
| Profit (loss) for the period | 9904 | €12,476 | €41,406 | +€28,930 | +232% |
| Profit (loss) for the period to be appropriated | 9905 | €12,476 | €41,406 | +€28,930 | +232% |
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 31 October 2026 via checked.be.