KER NORMA: 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.
KER NORMA
Largest movements
- Cash +€10,892
up €10,892 (+48.6%), from €22,403 to €33,296
mainly Trade debts (+€35,110) and Depreciation (+€8,194)
- Tangible fixed assets -€7,115
down €7,115 (-4.1%), from €172,087 to €164,973
of which Other tangible fixed assets: -€7,375
- Receivables within one year +€4,184
up €4,184 (+9.9%), from €42,251 to €46,434
of which Other amounts receivable: +€8,011
- Trade debts +€35,110
up €35,110 (+994%), from €3,533 to €38,643
- Profit (loss) carried forward -€11,106
down €11,106 (-92.0%), from €12,073 to €967
- Tax, wage and social debts -€8,101
down €8,101 (-58.0%), from €13,966 to €5,865
of which Taxes: -€7,315
- Debts after one year -€6,785
down €6,785 (-4.3%), from €158,649 to €151,864
- Gross operating margin -€16,881
down €16,881 (-38.6%), from €43,697 to €26,817
- Other operating charges +€11,562
up €11,562 (+664%), from €1,741 to €13,303
- Taxes -€2,309
down €2,309 (-40.9%), from €5,647 to €3,337
- Financial charges -€514
down €514 (-6.5%), from €7,906 to €7,392
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 | €236,741 | €244,703 | +€7,962 | +3.4% |
| Fixed assets | 21/28 | €172,087 | €164,973 | -€7,115 | -4.1% |
| Tangible fixed assets | 22/27 | €172,087 | €164,973 | -€7,115 | -4.1% |
| Land and buildings | 22 | €3,266 | €3,142 | -€124 | -3.8% |
| Furniture and vehicles | 24 | €1,287 | €1,672 | +€385 | +29.9% |
| Other tangible fixed assets | 26 | €167,535 | €160,159 | -€7,375 | -4.4% |
| Current assets | 29/58 | €64,654 | €79,730 | +€15,076 | +23.3% |
| Amounts receivable within one year | 40/41 | €42,251 | €46,434 | +€4,184 | +9.9% |
| Trade receivables | 40 | €38,311 | €34,484 | -€3,827 | -10.0% |
| Other amounts receivable | 41 | €3,940 | €11,950 | +€8,011 | +203% |
| Cash at bank and in hand | 54/58 | €22,403 | €33,296 | +€10,892 | +48.6% |
| Total equity and liabilities | 10/49 | €236,741 | €244,703 | +€7,962 | +3.4% |
| Equity | 10/15 | €52,073 | €40,967 | -€11,106 | -21.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €37,000 | €37,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €27,000 | - | -€27,000 | |
| Other | 1319 | €27,000 | - | -€27,000 | |
| Distributable reserves | 133 | €10,000 | €37,000 | +€27,000 | +270% |
| Profit (loss) carried forward | 14 | €12,073 | €967 | -€11,106 | -92.0% |
| Amounts payable | 17/49 | €184,668 | €203,736 | +€19,068 | +10.3% |
| Amounts payable after more than one year | 17 | €158,649 | €151,864 | -€6,785 | -4.3% |
| Financial debts | 170/4 | €158,649 | €151,864 | -€6,785 | -4.3% |
| Amounts payable within one year | 42/48 | €26,019 | €51,872 | +€25,853 | +99.4% |
| Current portion of amounts payable after more than one year | 42 | €6,529 | €6,785 | +€256 | +3.9% |
| Trade debts | 44 | €3,533 | €38,643 | +€35,110 | +994% |
| Suppliers | 440/4 | €3,533 | €38,643 | +€35,110 | +994% |
| Taxes, remuneration and social security | 45 | €13,966 | €5,865 | -€8,101 | -58.0% |
| Taxes | 450/3 | €13,180 | €5,865 | -€7,315 | -55.5% |
| Remuneration and social security | 454/9 | €786 | - | -€786 | |
| Other amounts payable | 47/48 | €1,991 | €579 | -€1,413 | -70.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,995 | €8,194 | +€199 | +2.5% |
| Other operating charges | 640/8 | €1,741 | €13,303 | +€11,562 | +664% |
| Gross operating margin | 9900 | €43,697 | €26,817 | -€16,881 | -38.6% |
| Operating profit (loss) | 9901 | €33,961 | €5,320 | -€28,641 | -84.3% |
| Financial income | 75/76B | €156 | €304 | +€147 | +94.1% |
| Recurring financial income | 75 | €156 | €304 | +€147 | +94.1% |
| Financial charges | 65/66B | €7,906 | €7,392 | -€514 | -6.5% |
| Recurring financial charges | 65 | €7,906 | €7,392 | -€514 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €26,212 | -€1,769 | -€27,981 | |
| Income taxes | 67/77 | €5,647 | €3,337 | -€2,309 | -40.9% |
| Profit (loss) for the period | 9904 | €20,565 | -€5,106 | -€25,671 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,565 | -€5,106 | -€25,671 |
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 13 October 2026 via checked.be.