KERCKEBOS: what changed
Two fiscal 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.
KERCKEBOS
Largest movements
- Cash -€14,290
down €14,290 (-57.1%), from €25,011 to €10,721
mainly Debts after one year (-€15,000) and Deferred charges and accrued income (-€12,447)
- Tangible fixed assets -€13,119
down €13,119 (-14.0%), from €93,624 to €80,505
of which Land and buildings: -€15,487
- Deferred charges and accrued income +€12,447
up €12,447 (+230.8%), from €5,394 to €17,841
- Debts after one year -€15,000
down €15,000 (-26.4%), from €56,810 to €41,810
- Current portion of long-term debt -€2,334
down €2,334 (-13.5%), from €17,334 to €15,000
- Profit (loss) carried forward +€2,097
up €2,097 (+1.4%), from -€152,438 to -€150,341
- Trade debts +€1,669
up €1,669 (+125.6%), from €1,329 to €2,997
- Gross operating margin -€33,713
down €33,713 (-78.0%), from €43,247 to €9,534
- Depreciation -€28,933
down €28,933 (-100.0%), from €28,933 to €0
- Financial charges -€756
down €756 (-17.7%), from €4,285 to €3,528
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 | €144,750 | €130,700 | -€14,049 | -9.7% |
| Fixed assets | 21/28 | €95,425 | €82,305 | -€13,119 | -13.7% |
| Tangible fixed assets | 22/27 | €93,624 | €80,505 | -€13,119 | -14.0% |
| Land and buildings | 22 | €65,817 | €50,331 | -€15,487 | -23.5% |
| Plant, machinery and equipment | 23 | €8,803 | €4,009 | -€4,794 | -54.5% |
| Furniture and vehicles | 24 | €19,004 | €26,165 | +€7,161 | +37.7% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €49,325 | €48,395 | -€930 | -1.9% |
| Amounts receivable within one year | 40/41 | €18,920 | €19,833 | +€913 | +4.8% |
| Trade receivables | 40 | €18,582 | €18,555 | -€27 | -0.1% |
| Other amounts receivable | 41 | €337 | €1,277 | +€940 | +278.5% |
| Cash at bank and in hand | 54/58 | €25,011 | €10,721 | -€14,290 | -57.1% |
| Deferred charges and accrued income | 490/1 | €5,394 | €17,841 | +€12,447 | +230.8% |
| Total equity and liabilities | 10/49 | €144,750 | €130,700 | -€14,049 | -9.7% |
| Equity | 10/15 | -€138,795 | -€136,698 | +€2,097 | +1.5% |
| Contributions | 10/11 | €12,403 | €12,403 | = | 0.0% |
| Reserves | 13 | €1,240 | €1,240 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,240 | €1,240 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,240 | €1,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€152,438 | -€150,341 | +€2,097 | +1.4% |
| Amounts payable | 17/49 | €283,545 | €267,398 | -€16,147 | -5.7% |
| Amounts payable after more than one year | 17 | €56,810 | €41,810 | -€15,000 | -26.4% |
| Financial debts | 170/4 | €56,810 | €41,810 | -€15,000 | -26.4% |
| Amounts payable within one year | 42/48 | €225,360 | €225,422 | +€62 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €17,334 | €15,000 | -€2,334 | -13.5% |
| Trade debts | 44 | €1,329 | €2,997 | +€1,669 | +125.6% |
| Suppliers | 440/4 | €1,329 | €2,997 | +€1,669 | +125.6% |
| Taxes, remuneration and social security | 45 | €0 | €224 | +€224 | |
| Taxes | 450/3 | €0 | €224 | +€224 | |
| Other amounts payable | 47/48 | €206,698 | €207,201 | +€503 | +0.2% |
| Accrued charges and deferred income | 492/3 | €1,374 | €165 | -€1,209 | -88.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,933 | €0 | -€28,933 | -100.0% |
| Other operating charges | 640/8 | €3,874 | €4,053 | +€179 | +4.6% |
| Gross operating margin | 9900 | €43,247 | €9,534 | -€33,713 | -78.0% |
| Operating profit (loss) | 9901 | €10,440 | €5,481 | -€4,958 | -47.5% |
| Financial income | 75/76B | €106 | €144 | +€38 | +35.8% |
| Recurring financial income | 75 | €106 | €144 | +€38 | +35.8% |
| Financial charges | 65/66B | €4,285 | €3,528 | -€756 | -17.7% |
| Recurring financial charges | 65 | €4,285 | €3,528 | -€756 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €6,261 | €2,097 | -€4,164 | -66.5% |
| Profit (loss) for the period | 9904 | €6,261 | €2,097 | -€4,164 | -66.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,261 | €2,097 | -€4,164 | -66.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.