KERATECH: 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.
KERATECH
Largest movements
- Tangible fixed assets -€51,954
down €51,954 (-4.9%), from €1.1m to €1.0m
of which Land and buildings: -€52,556
- Receivables within one year +€30,146
up €30,146 (+12.1%), from €249,513 to €279,659
of which Other amounts receivable: +€30,000
- Other debts +€71,388
up €71,388 (+15.8%), from €451,191 to €522,579
- Debts after one year -€56,333
down €56,333 (-11.1%), from €507,000 to €450,667
- Reserves -€46,239
down €46,239 (-7.9%), from €583,141 to €536,902
of which Distributable reserves: -€46,239
- Financial charges -€17,800
down €17,800 (-26.4%), from €67,468 to €49,668
- Gross operating margin -€5,527
down €5,527 (-3.9%), from €142,328 to €136,802
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.
Cash bridge derived
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 | €1,638,436 | €1,608,376 | -€30,060 | -1.8% |
| Fixed assets | 21/28 | €1,064,395 | €1,012,442 | -€51,954 | -4.9% |
| Tangible fixed assets | 22/27 | €1,064,395 | €1,012,442 | -€51,954 | -4.9% |
| Land and buildings | 22 | €1,055,236 | €1,002,680 | -€52,556 | -5.0% |
| Plant, machinery and equipment | 23 | €9,159 | €6,595 | -€2,564 | -28.0% |
| Furniture and vehicles | 24 | - | €3,166 | +€3,166 | |
| Current assets | 29/58 | €574,041 | €595,934 | +€21,893 | +3.8% |
| Amounts receivable within one year | 40/41 | €249,513 | €279,659 | +€30,146 | +12.1% |
| Trade receivables | 40 | €4,643 | €4,789 | +€146 | +3.2% |
| Other amounts receivable | 41 | €244,870 | €274,870 | +€30,000 | +12.3% |
| Cash at bank and in hand | 54/58 | €324,528 | €316,275 | -€8,253 | -2.5% |
| Total equity and liabilities | 10/49 | €1,638,436 | €1,608,376 | -€30,060 | -1.8% |
| Equity | 10/15 | €603,141 | €556,902 | -€46,239 | -7.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €583,141 | €536,902 | -€46,239 | -7.9% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €581,141 | €534,902 | -€46,239 | -8.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,035,296 | €1,051,474 | +€16,178 | +1.6% |
| Amounts payable after more than one year | 17 | €507,000 | €450,667 | -€56,333 | -11.1% |
| Financial debts | 170/4 | €507,000 | €450,667 | -€56,333 | -11.1% |
| Amounts payable within one year | 42/48 | €528,296 | €600,807 | +€72,512 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €56,333 | €56,333 | = | 0.0% |
| Trade debts | 44 | €4,643 | €5,918 | +€1,275 | +27.5% |
| Suppliers | 440/4 | €4,643 | €5,918 | +€1,275 | +27.5% |
| Taxes, remuneration and social security | 45 | €16,128 | €15,977 | -€151 | -0.9% |
| Taxes | 450/3 | €16,128 | €15,977 | -€151 | -0.9% |
| Other amounts payable | 47/48 | €451,191 | €522,579 | +€71,388 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,280 | €59,821 | +€541 | +0.9% |
| Other operating charges | 640/8 | €9,263 | €9,551 | +€288 | +3.1% |
| Gross operating margin | 9900 | €142,328 | €136,802 | -€5,527 | -3.9% |
| Operating profit (loss) | 9901 | €73,785 | €67,430 | -€6,356 | -8.6% |
| Financial charges | 65/66B | €67,468 | €49,668 | -€17,800 | -26.4% |
| Recurring financial charges | 65 | €67,468 | €49,668 | -€17,800 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €6,317 | €17,761 | +€11,444 | +181.2% |
| Profit (loss) for the period | 9904 | €6,317 | €17,761 | +€11,444 | +181.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,317 | €17,761 | +€11,444 | +181.2% |
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 10 October 2026 via checked.be.