KEMTRADE: what changed
KEMTRADE
Largest movements
- Cash +€83,922
up €83,922 (+176%), from €47,664 to €131,586
mainly Net result for the year (+€66,881) and Tax, wage and social debts (+€30,174)
- Tangible fixed assets +€28,987
up €28,987 (+1,339%), from €2,165 to €31,152
of which Furniture and vehicles: +€29,484
- Receivables within one year +€4,504
up €4,504 (+14.7%), from €30,674 to €35,178
- Reserves +€66,881
up €66,881 (+149%), from €45,000 to €111,881
- Tax, wage and social debts +€30,174
up €30,174 (+133%), from €22,634 to €52,808
- Debts after one year +€16,963
new in 2025: €16,963
- Trade debts -€8,592
no longer reported in 2025 (was €8,592)
- Current portion of long-term debt +€6,906
new in 2025: €6,906
- Gross operating margin +€37,862
up €37,862 (+64.0%), from €59,135 to €96,996
- Taxes +€13,246
up €13,246 (+107%), from €12,430 to €25,676
- Depreciation +€1,978
up €1,978 (+360%), from €550 to €2,528
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €80,720 | €198,577 | +€117,856 | +146% |
| Fixed assets | 21/28 | €2,165 | €31,152 | +€28,987 | +1,339% |
| Tangible fixed assets | 22/27 | €2,165 | €31,152 | +€28,987 | +1,339% |
| Furniture and vehicles | 24 | €1,091 | €30,574 | +€29,484 | +2,704% |
| Other tangible fixed assets | 26 | €1,074 | €578 | -€496 | -46.2% |
| Current assets | 29/58 | €78,556 | €167,425 | +€88,869 | +113% |
| Amounts receivable within one year | 40/41 | €30,674 | €35,178 | +€4,504 | +14.7% |
| Trade receivables | 40 | €30,674 | €35,178 | +€4,504 | +14.7% |
| Cash at bank and in hand | 54/58 | €47,664 | €131,586 | +€83,922 | +176% |
| Deferred charges and accrued income | 490/1 | €218 | €661 | +€443 | +203% |
| Total equity and liabilities | 10/49 | €80,720 | €198,577 | +€117,856 | +146% |
| Equity | 10/15 | €45,488 | €112,369 | +€66,881 | +147% |
| Reserves | 13 | €45,000 | €111,881 | +€66,881 | +149% |
| Distributable reserves | 133 | €45,000 | €111,881 | +€66,881 | +149% |
| Profit (loss) carried forward | 14 | €488 | €488 | = | 0.0% |
| Amounts payable | 17/49 | €35,232 | €86,208 | +€50,976 | +145% |
| Amounts payable after more than one year | 17 | - | €16,963 | +€16,963 | |
| Financial debts | 170/4 | - | €16,963 | +€16,963 | |
| Amounts payable within one year | 42/48 | €35,232 | €69,245 | +€34,013 | +96.5% |
| Current portion of amounts payable after more than one year | 42 | - | €6,906 | +€6,906 | |
| Trade debts | 44 | €8,592 | - | -€8,592 | |
| Suppliers | 440/4 | €8,592 | - | -€8,592 | |
| Taxes, remuneration and social security | 45 | €22,634 | €52,808 | +€30,174 | +133% |
| Taxes | 450/3 | €22,634 | €52,808 | +€30,174 | +133% |
| Other amounts payable | 47/48 | €4,006 | €9,530 | +€5,524 | +138% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €550 | €2,528 | +€1,978 | +360% |
| Other operating charges | 640/8 | €275 | €909 | +€634 | +231% |
| Gross operating margin | 9900 | €59,135 | €96,996 | +€37,862 | +64.0% |
| Operating profit (loss) | 9901 | €58,310 | €93,559 | +€35,250 | +60.5% |
| Financial charges | 65/66B | €391 | €1,002 | +€611 | +156% |
| Recurring financial charges | 65 | €391 | €1,002 | +€611 | +156% |
| Profit (loss) for the period before taxes | 9903 | €57,918 | €92,557 | +€34,639 | +59.8% |
| Income taxes | 67/77 | €12,430 | €25,676 | +€13,246 | +107% |
| Profit (loss) for the period | 9904 | €45,488 | €66,881 | +€21,393 | +47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,488 | €66,881 | +€21,393 | +47.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.