KERCKHOF: 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.
KERCKHOF
Largest movements
- Receivables within one year +€5,277
up €5,277 (+155%), from €3,415 to €8,692
- Tangible fixed assets +€2,883
new in 2025: €2,883
- Cash -€2,513
down €2,513 (-3.3%), from €75,506 to €72,993
- Profit (loss) carried forward +€4,777
up €4,777 (+13.9%), from €34,366 to €39,142
- Gross operating margin +€3,119
up €3,119 (+71.2%), from €4,384 to €7,504
- Depreciation +€911
new in 2025: €911
- Taxes +€540
up €540 (+49.3%), from €1,097 to €1,637
- Other operating charges +€132
up €132 (+100%), from €132 to €264
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €79,463 | €84,816 | +€5,354 | +6.7% |
| Fixed assets | 21/28 | - | €2,883 | +€2,883 | |
| Tangible fixed assets | 22/27 | - | €2,883 | +€2,883 | |
| Furniture and vehicles | 24 | - | €2,883 | +€2,883 | |
| Current assets | 29/58 | €79,463 | €81,934 | +€2,471 | +3.1% |
| Amounts receivable within one year | 40/41 | €3,415 | €8,692 | +€5,277 | +155% |
| Other amounts receivable | 41 | €3,415 | €8,692 | +€5,277 | +155% |
| Cash at bank and in hand | 54/58 | €75,506 | €72,993 | -€2,513 | -3.3% |
| Deferred charges and accrued income | 490/1 | €542 | €248 | -€294 | -54.2% |
| Total equity and liabilities | 10/49 | €79,463 | €84,816 | +€5,354 | +6.7% |
| Equity | 10/15 | €78,366 | €83,142 | +€4,777 | +6.1% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Contributions outside capital | 11 | €40,000 | €40,000 | = | 0.0% |
| Other | 1109/19 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €4,000 | €4,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,366 | €39,142 | +€4,777 | +13.9% |
| Amounts payable | 17/49 | €1,097 | €1,674 | +€577 | +52.6% |
| Amounts payable within one year | 42/48 | €1,097 | €1,674 | +€577 | +52.6% |
| Taxes, remuneration and social security | 45 | €1,097 | €1,674 | +€577 | +52.6% |
| Taxes | 450/3 | €1,097 | €1,674 | +€577 | +52.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €911 | +€911 | |
| Other operating charges | 640/8 | €132 | €264 | +€132 | +100% |
| Gross operating margin | 9900 | €4,384 | €7,504 | +€3,119 | +71.2% |
| Operating profit (loss) | 9901 | €4,252 | €6,329 | +€2,076 | +48.8% |
| Financial charges | 65/66B | €142 | €201 | +€60 | +41.9% |
| Recurring financial charges | 65 | €142 | €201 | +€60 | +41.9% |
| Profit (loss) for the period before taxes | 9903 | €4,110 | €6,127 | +€2,017 | +49.1% |
| Income taxes | 67/77 | €1,097 | €1,637 | +€540 | +49.3% |
| Profit (loss) for the period | 9904 | €3,013 | €4,490 | +€1,476 | +49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,013 | €4,490 | +€1,476 | +49.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.