KERGER: 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.
KERGER
Largest movements
- Cash -€121,946
down €121,946 (-18.1%), from €672,038 to €550,092
mainly Other debts (-€92,647) and Trade debts (-€78,537)
- Tangible fixed assets -€28,860
down €28,860 (-15.6%), from €185,134 to €156,274
of which Plant, machinery and equipment: -€46,064
- Other debts -€92,647
down €92,647 (-84.7%), from €109,346 to €16,699
- Trade debts -€78,537
down €78,537 (-20.5%), from €382,903 to €304,366
- Reserves +€72,000
up €72,000 (+8.7%), from €826,700 to €898,700
of which Distributable reserves: +€72,000
- Tax, wage and social debts -€37,982
down €37,982 (-35.3%), from €107,528 to €69,545
of which Taxes: -€36,287
- Debts after one year -€20,000
down €20,000 (-6.1%), from €329,000 to €309,000
- Staff costs +€76,680
up €76,680 (+26.0%), from €295,289 to €371,969
- Gross operating margin -€26,832
down €26,832 (-4.5%), from €595,349 to €568,517
- Taxes -€18,384
down €18,384 (-30.1%), from €61,017 to €42,632
- Depreciation +€7,760
up €7,760 (+14.7%), from €52,765 to €60,525
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 | €1,846,654 | €1,687,918 | -€158,736 | -8.6% |
| Fixed assets | 21/28 | €185,134 | €156,274 | -€28,860 | -15.6% |
| Tangible fixed assets | 22/27 | €185,134 | €156,274 | -€28,860 | -15.6% |
| Plant, machinery and equipment | 23 | €162,302 | €116,238 | -€46,064 | -28.4% |
| Furniture and vehicles | 24 | €22,831 | €40,035 | +€17,204 | +75.4% |
| Current assets | 29/58 | €1,661,520 | €1,531,644 | -€129,876 | -7.8% |
| Stocks and contracts in progress | 3 | €321,547 | €323,862 | +€2,315 | +0.7% |
| Stocks | 30/36 | €321,547 | €323,862 | +€2,315 | +0.7% |
| Amounts receivable within one year | 40/41 | €658,446 | €647,239 | -€11,207 | -1.7% |
| Trade receivables | 40 | €644,315 | €626,173 | -€18,142 | -2.8% |
| Other amounts receivable | 41 | €14,131 | €21,066 | +€6,935 | +49.1% |
| Cash at bank and in hand | 54/58 | €672,038 | €550,092 | -€121,946 | -18.1% |
| Deferred charges and accrued income | 490/1 | €9,489 | €10,451 | +€963 | +10.1% |
| Total equity and liabilities | 10/49 | €1,846,654 | €1,687,918 | -€158,736 | -8.6% |
| Equity | 10/15 | €901,745 | €974,090 | +€72,345 | +8.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €826,700 | €898,700 | +€72,000 | +8.7% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €51,200 | €51,200 | = | 0.0% |
| Distributable reserves | 133 | €768,000 | €840,000 | +€72,000 | +9.4% |
| Profit (loss) carried forward | 14 | €45 | €390 | +€345 | +769.4% |
| Amounts payable | 17/49 | €944,909 | €713,828 | -€231,080 | -24.5% |
| Amounts payable after more than one year | 17 | €329,000 | €309,000 | -€20,000 | -6.1% |
| Financial debts | 170/4 | €329,000 | €309,000 | -€20,000 | -6.1% |
| Amounts payable within one year | 42/48 | €599,776 | €390,610 | -€209,167 | -34.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €382,903 | €304,366 | -€78,537 | -20.5% |
| Suppliers | 440/4 | €382,903 | €304,366 | -€78,537 | -20.5% |
| Taxes, remuneration and social security | 45 | €107,528 | €69,545 | -€37,982 | -35.3% |
| Taxes | 450/3 | €80,680 | €44,393 | -€36,287 | -45.0% |
| Remuneration and social security | 454/9 | €26,847 | €25,152 | -€1,695 | -6.3% |
| Other amounts payable | 47/48 | €109,346 | €16,699 | -€92,647 | -84.7% |
| Accrued charges and deferred income | 492/3 | €16,132 | €14,218 | -€1,914 | -11.9% |
| Remuneration, social security and pensions | 62 | €295,289 | €371,969 | +€76,680 | +26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,765 | €60,525 | +€7,760 | +14.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €3,718 | €3,429 | -€289 | -7.8% |
| Non-recurring operating charges | 66A | €600 | €0 | -€600 | -100.0% |
| Gross operating margin | 9900 | €595,349 | €568,517 | -€26,832 | -4.5% |
| Operating profit (loss) | 9901 | €242,977 | €132,594 | -€110,383 | -45.4% |
| Financial income | 75/76B | €1,356 | €4,449 | +€3,093 | +228.1% |
| Recurring financial income | 75 | €1,356 | €4,449 | +€3,093 | +228.1% |
| Financial charges | 65/66B | €21,971 | €22,066 | +€95 | +0.4% |
| Recurring financial charges | 65 | €21,971 | €22,066 | +€95 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €222,362 | €114,977 | -€107,385 | -48.3% |
| Income taxes | 67/77 | €61,017 | €42,632 | -€18,384 | -30.1% |
| Profit (loss) for the period | 9904 | €161,345 | €72,345 | -€89,001 | -55.2% |
| Profit (loss) for the period to be appropriated | 9905 | €161,345 | €72,345 | -€89,001 | -55.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.