KERA MANAGEMENT: 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.
KERA MANAGEMENT
Largest movements
- Receivables within one year -€36,631
down €36,631 (-69.7%), from €52,583 to €15,951
of which Other amounts receivable: -€21,199
- Cash +€28,801
up €28,801 (+115%), from €25,030 to €53,830
mainly Receivables within one year (+€36,631) and Other debts (+€9,881)
- Tangible fixed assets -€8,014
down €8,014 (-100%), from €8,014 to €0
- Reserves -€31,920
down €31,920 (-47.2%), from €67,598 to €35,678
- Other debts +€9,881
up €9,881, from €0 to €9,881
- Tax, wage and social debts +€4,980
up €4,980 (+29.7%), from €16,751 to €21,731
of which Taxes: +€4,393
- Gross operating margin -€34,367
down €34,367 (-32.4%), from €105,966 to €71,599
- Taxes -€5,680
down €5,680 (-56.4%), from €10,073 to €4,394
- Depreciation -€4,983
down €4,983 (-100%), from €4,983 to €0
- Staff costs +€3,011
up €3,011 (+9.6%), from €31,499 to €34,510
- Financial charges +€2,476
up €2,476 (+1,161%), from €213 to €2,689
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 | €86,466 | €70,368 | -€16,097 | -18.6% |
| Fixed assets | 21/28 | €8,014 | €0 | -€8,014 | -100% |
| Tangible fixed assets | 22/27 | €8,014 | €0 | -€8,014 | -100% |
| Furniture and vehicles | 24 | €8,014 | €0 | -€8,014 | -100% |
| Current assets | 29/58 | €78,451 | €70,368 | -€8,083 | -10.3% |
| Amounts receivable within one year | 40/41 | €52,583 | €15,951 | -€36,631 | -69.7% |
| Trade receivables | 40 | €26,988 | €11,556 | -€15,432 | -57.2% |
| Other amounts receivable | 41 | €25,594 | €4,395 | -€21,199 | -82.8% |
| Cash at bank and in hand | 54/58 | €25,030 | €53,830 | +€28,801 | +115% |
| Deferred charges and accrued income | 490/1 | €839 | €587 | -€252 | -30.1% |
| Total equity and liabilities | 10/49 | €86,466 | €70,368 | -€16,097 | -18.6% |
| Equity | 10/15 | €68,598 | €36,678 | -€31,920 | -46.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €67,598 | €35,678 | -€31,920 | -47.2% |
| Distributable reserves | 133 | €67,598 | €35,678 | -€31,920 | -47.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €17,868 | €33,690 | +€15,823 | +88.6% |
| Amounts payable within one year | 42/48 | €17,663 | €33,182 | +€15,520 | +87.9% |
| Trade debts | 44 | €912 | €1,570 | +€658 | +72.2% |
| Suppliers | 440/4 | €912 | €1,570 | +€658 | +72.2% |
| Taxes, remuneration and social security | 45 | €16,751 | €21,731 | +€4,980 | +29.7% |
| Taxes | 450/3 | €11,959 | €16,352 | +€4,393 | +36.7% |
| Remuneration and social security | 454/9 | €4,792 | €5,379 | +€587 | +12.3% |
| Other amounts payable | 47/48 | €0 | €9,881 | +€9,881 | |
| Accrued charges and deferred income | 492/3 | €205 | €508 | +€303 | +148% |
| Remuneration, social security and pensions | 62 | €31,499 | €34,510 | +€3,011 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,983 | €0 | -€4,983 | -100% |
| Other operating charges | 640/8 | €21,789 | €21,269 | -€520 | -2.4% |
| Non-recurring operating charges | 66A | - | €1,403 | +€1,403 | |
| Gross operating margin | 9900 | €105,966 | €71,599 | -€34,367 | -32.4% |
| Operating profit (loss) | 9901 | €47,694 | €14,416 | -€33,278 | -69.8% |
| Financial income | 75/76B | €463 | €1,342 | +€879 | +190% |
| Recurring financial income | 75 | €463 | €1,342 | +€879 | +190% |
| Financial charges | 65/66B | €213 | €2,689 | +€2,476 | +1,161% |
| Recurring financial charges | 65 | €213 | €2,689 | +€2,476 | +1,161% |
| Profit (loss) for the period before taxes | 9903 | €47,944 | €13,069 | -€34,874 | -72.7% |
| Income taxes | 67/77 | €10,073 | €4,394 | -€5,680 | -56.4% |
| Profit (loss) for the period | 9904 | €37,870 | €8,676 | -€29,195 | -77.1% |
| Profit (loss) for the period to be appropriated | 9905 | €37,870 | €8,676 | -€29,195 | -77.1% |
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 14 October 2026 via checked.be.