KERFF MENUISERIE: 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.
KERFF MENUISERIE
Largest movements
- Tangible fixed assets -€39,421
down €39,421 (-13.1%), from €301,025 to €261,604
of which Furniture and vehicles: -€41,036
- Cash +€17,930
up €17,930 (+93.6%), from €19,146 to €37,076
mainly Trade debts (+€26,355) and Investment in fixed assets (net) (+€22,428)
- Profit (loss) carried forward -€34,589
down €34,589, from €18,490 to -€16,099
- Trade debts +€26,355
up €26,355 (+486%), from €5,420 to €31,775
- Debts after one year -€15,110
down €15,110 (-7.2%), from €209,683 to €194,574
- Other debts +€5,038
up €5,038 (+14.0%), from €35,937 to €40,975
- Gross operating margin -€33,146
down €33,146, from €27,026 to -€6,120
- Depreciation -€16,976
down €16,976 (-50.0%), from €33,968 to €16,992
- Other operating charges +€3,360
up €3,360 (+175%), from €1,916 to €5,276
- Taxes -€511
down €511 (-69.3%), from €738 to €226
- Financial charges -€458
down €458 (-7.0%), from €6,566 to €6,108
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 | €337,987 | €320,526 | -€17,461 | -5.2% |
| Fixed assets | 21/28 | €301,025 | €261,604 | -€39,421 | -13.1% |
| Tangible fixed assets | 22/27 | €301,025 | €261,604 | -€39,421 | -13.1% |
| Land and buildings | 22 | €251,062 | €243,473 | -€7,589 | -3.0% |
| Plant, machinery and equipment | 23 | €8,927 | €18,131 | +€9,205 | +103% |
| Furniture and vehicles | 24 | €41,036 | €0 | -€41,036 | -100% |
| Current assets | 29/58 | €36,962 | €58,922 | +€21,960 | +59.4% |
| Stocks and contracts in progress | 3 | €1,500 | €1,500 | = | 0.0% |
| Stocks | 30/36 | €1,500 | €1,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,522 | €16,455 | +€1,933 | +13.3% |
| Trade receivables | 40 | €14,388 | €16,443 | +€2,055 | +14.3% |
| Other amounts receivable | 41 | €134 | €12 | -€122 | -90.9% |
| Cash at bank and in hand | 54/58 | €19,146 | €37,076 | +€17,930 | +93.6% |
| Deferred charges and accrued income | 490/1 | €1,794 | €3,891 | +€2,097 | +117% |
| Total equity and liabilities | 10/49 | €337,987 | €320,526 | -€17,461 | -5.2% |
| Equity | 10/15 | €68,490 | €33,901 | -€34,589 | -50.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,490 | -€16,099 | -€34,589 | |
| Amounts payable | 17/49 | €269,497 | €286,625 | +€17,128 | +6.4% |
| Amounts payable after more than one year | 17 | €209,683 | €194,574 | -€15,110 | -7.2% |
| Financial debts | 170/4 | €209,683 | €194,574 | -€15,110 | -7.2% |
| Amounts payable within one year | 42/48 | €59,813 | €90,986 | +€31,173 | +52.1% |
| Current portion of amounts payable after more than one year | 42 | €14,631 | €15,110 | +€479 | +3.3% |
| Trade debts | 44 | €5,420 | €31,775 | +€26,355 | +486% |
| Suppliers | 440/4 | €5,420 | €31,775 | +€26,355 | +486% |
| Taxes, remuneration and social security | 45 | €3,826 | €3,126 | -€700 | -18.3% |
| Taxes | 450/3 | €2,576 | €3,126 | +€550 | +21.4% |
| Remuneration and social security | 454/9 | €1,250 | €0 | -€1,250 | -100% |
| Other amounts payable | 47/48 | €35,937 | €40,975 | +€5,038 | +14.0% |
| Accrued charges and deferred income | 492/3 | - | €1,065 | +€1,065 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,968 | €16,992 | -€16,976 | -50.0% |
| Other operating charges | 640/8 | €1,916 | €5,276 | +€3,360 | +175% |
| Gross operating margin | 9900 | €27,026 | -€6,120 | -€33,146 | |
| Operating profit (loss) | 9901 | -€8,858 | -€28,388 | -€19,530 | -220% |
| Financial income | 75/76B | €106 | €134 | +€28 | +26.0% |
| Recurring financial income | 75 | €106 | €134 | +€28 | +26.0% |
| Financial charges | 65/66B | €6,566 | €6,108 | -€458 | -7.0% |
| Recurring financial charges | 65 | €6,566 | €6,108 | -€458 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€15,318 | -€34,362 | -€19,044 | -124% |
| Income taxes | 67/77 | €738 | €226 | -€511 | -69.3% |
| Profit (loss) for the period | 9904 | -€16,056 | -€34,589 | -€18,533 | -115% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,056 | -€34,589 | -€18,533 | -115% |
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 16 October 2026 via checked.be.