KERBEROS: 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.
KERBEROS
Largest movements
- Cash +€125,506
up €125,506 (+37.6%), from €334,061 to €459,566
mainly Net result for the year (+€72,605) and Tax, wage and social debts (+€61,635)
- Receivables within one year +€9,001
up €9,001 (+30.5%), from €29,539 to €38,540
of which Trade receivables: +€28,444
- Reserves +€72,600
up €72,600 (+22.3%), from €325,764 to €398,364
- Tax, wage and social debts +€61,635
up €61,635 (+688%), from €8,956 to €70,591
of which Taxes: +€61,635
- Gross operating margin -€22,183
down €22,183 (-17.0%), from €130,383 to €108,199
- Taxes -€5,273
down €5,273 (-12.3%), from €43,012 to €37,739
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 | €363,599 | €498,106 | +€134,506 | +37.0% |
| Current assets | 29/58 | €363,599 | €498,106 | +€134,506 | +37.0% |
| Amounts receivable within one year | 40/41 | €29,539 | €38,540 | +€9,001 | +30.5% |
| Trade receivables | 40 | €8,910 | €37,353 | +€28,444 | +319% |
| Other amounts receivable | 41 | €20,629 | €1,186 | -€19,443 | -94.3% |
| Cash at bank and in hand | 54/58 | €334,061 | €459,566 | +€125,506 | +37.6% |
| Total equity and liabilities | 10/49 | €363,599 | €498,106 | +€134,506 | +37.0% |
| Equity | 10/15 | €344,608 | €417,213 | +€72,605 | +21.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €325,764 | €398,364 | +€72,600 | +22.3% |
| Distributable reserves | 133 | €325,764 | €398,364 | +€72,600 | +22.3% |
| Profit (loss) carried forward | 14 | €244 | €248 | +€5 | +1.9% |
| Amounts payable | 17/49 | €18,991 | €80,893 | +€61,902 | +326% |
| Amounts payable within one year | 42/48 | €18,991 | €80,893 | +€61,902 | +326% |
| Trade debts | 44 | €8,556 | €5,352 | -€3,204 | -37.4% |
| Suppliers | 440/4 | €8,556 | €5,352 | -€3,204 | -37.4% |
| Taxes, remuneration and social security | 45 | €8,956 | €70,591 | +€61,635 | +688% |
| Taxes | 450/3 | €7,837 | €69,472 | +€61,635 | +786% |
| Remuneration and social security | 454/9 | €1,119 | €1,119 | = | 0.0% |
| Other amounts payable | 47/48 | €1,479 | €4,950 | +€3,471 | +235% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €214 | - | -€214 | |
| Other operating charges | 640/8 | €62 | - | -€62 | |
| Gross operating margin | 9900 | €130,383 | €108,199 | -€22,183 | -17.0% |
| Operating profit (loss) | 9901 | €130,107 | €108,199 | -€21,908 | -16.8% |
| Financial income | 75/76B | €2,132 | €2,465 | +€332 | +15.6% |
| Recurring financial income | 75 | €2,132 | €2,465 | +€332 | +15.6% |
| Financial charges | 65/66B | €152 | €321 | +€169 | +111% |
| Recurring financial charges | 65 | €152 | €321 | +€169 | +111% |
| Profit (loss) for the period before taxes | 9903 | €132,088 | €110,343 | -€21,744 | -16.5% |
| Income taxes | 67/77 | €43,012 | €37,739 | -€5,273 | -12.3% |
| Profit (loss) for the period | 9904 | €89,076 | €72,605 | -€16,471 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €89,076 | €72,605 | -€16,471 | -18.5% |
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.