KERJACO: 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.
KERJACO
Largest movements
- Tangible fixed assets -€8,735
down €8,735 (-5.0%), from €174,951 to €166,216
of which Land and buildings: -€15,822
- Receivables within one year +€4,311
up €4,311 (+66.2%), from €6,511 to €10,822
of which Trade receivables: +€4,221
- Cash -€3,277
down €3,277 (-31.9%), from €10,256 to €6,979
mainly Other debts (-€207,217) and Investment in fixed assets (net) (-€26,485)
- Other debts -€207,217
down €207,217 (-61.8%), from €335,436 to €128,219
- Debts after one year +€194,875
up €194,875 (+3,802%), from €5,125 to €200,000
of which Other amounts payable: +€200,000
- Profit (loss) carried forward +€12,156
up €12,156 (+6.5%), from -€187,675 to -€175,520
- Current portion of long-term debt -€7,916
down €7,916 (-100%), from €7,916 to €0
- Gross operating margin -€28,739
down €28,739 (-36.5%), from €78,785 to €50,045
- Financial income +€883
up €883 (+534%), from €165 to €1,048
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 | €193,724 | €186,350 | -€7,374 | -3.8% |
| Fixed assets | 21/28 | €174,951 | €166,216 | -€8,735 | -5.0% |
| Tangible fixed assets | 22/27 | €174,951 | €166,216 | -€8,735 | -5.0% |
| Land and buildings | 22 | €122,287 | €106,465 | -€15,822 | -12.9% |
| Plant, machinery and equipment | 23 | €38,597 | €53,094 | +€14,497 | +37.6% |
| Furniture and vehicles | 24 | €14,067 | €6,657 | -€7,410 | -52.7% |
| Current assets | 29/58 | €18,773 | €20,134 | +€1,360 | +7.2% |
| Amounts receivable within one year | 40/41 | €6,511 | €10,822 | +€4,311 | +66.2% |
| Trade receivables | 40 | €6,511 | €10,731 | +€4,221 | +64.8% |
| Other amounts receivable | 41 | - | €91 | +€91 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €10,256 | €6,979 | -€3,277 | -31.9% |
| Deferred charges and accrued income | 490/1 | €2,007 | €2,332 | +€325 | +16.2% |
| Total equity and liabilities | 10/49 | €193,724 | €186,350 | -€7,374 | -3.8% |
| Equity | 10/15 | -€167,215 | -€155,060 | +€12,156 | +7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€187,675 | -€175,520 | +€12,156 | +6.5% |
| Amounts payable | 17/49 | €360,940 | €341,410 | -€19,530 | -5.4% |
| Amounts payable after more than one year | 17 | €5,125 | €200,000 | +€194,875 | +3,802% |
| Financial debts | 170/4 | €5,125 | €0 | -€5,125 | -100% |
| Other amounts payable | 178/9 | - | €200,000 | +€200,000 | |
| Amounts payable within one year | 42/48 | €355,415 | €141,010 | -€214,405 | -60.3% |
| Current portion of amounts payable after more than one year | 42 | €7,916 | €0 | -€7,916 | -100% |
| Trade debts | 44 | €7,741 | €8,806 | +€1,065 | +13.8% |
| Suppliers | 440/4 | €7,741 | €8,806 | +€1,065 | +13.8% |
| Taxes, remuneration and social security | 45 | €4,322 | €3,985 | -€337 | -7.8% |
| Taxes | 450/3 | €4,322 | €3,985 | -€337 | -7.8% |
| Other amounts payable | 47/48 | €335,436 | €128,219 | -€207,217 | -61.8% |
| Accrued charges and deferred income | 492/3 | €400 | €400 | = | 0.0% |
| Non-recurring operating income | 76A | €2,828 | €12,950 | +€10,122 | +358% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,060 | €35,220 | +€160 | +0.5% |
| Other operating charges | 640/8 | €2,847 | €2,674 | -€173 | -6.1% |
| Non-recurring operating charges | 66A | €660 | €0 | -€660 | -100% |
| Gross operating margin | 9900 | €78,785 | €50,045 | -€28,739 | -36.5% |
| Operating profit (loss) | 9901 | €40,217 | €12,152 | -€28,066 | -69.8% |
| Financial income | 75/76B | €165 | €1,048 | +€883 | +534% |
| Recurring financial income | 75 | €165 | €1,048 | +€883 | +534% |
| Financial charges | 65/66B | €398 | €935 | +€536 | +135% |
| Recurring financial charges | 65 | €398 | €935 | +€536 | +135% |
| Profit (loss) for the period before taxes | 9903 | €39,984 | €12,265 | -€27,719 | -69.3% |
| Income taxes | 67/77 | €144 | €109 | -€35 | -24.3% |
| Profit (loss) for the period | 9904 | €39,840 | €12,156 | -€27,684 | -69.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,840 | €12,156 | -€27,684 | -69.5% |
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 15 October 2026 via checked.be.