KERKHOFS-SAENEN: what changed
What changed
KERKHOFS-SAENEN
NACE 47.632, Retail sale of bicycles
filed annual accounts (NBB)
Net result for the year
€184,531
2024 · €112,018+€72,513
Equity
€521,252
2024 · €431,721+€89,531
Cash
€170,486
2024 · €63,209+€107,278
Balance sheet total
€1.0m
2024 · €921,909+€118,288
Largest movements
Assets
- Cash +€107,278
up €107,278 (+170%), from €63,209 to €170,486
mainly Net result for the year (+€184,531) and Other debts (+€50,925)
- Current investments -€46,226
down €46,226 (-46.2%), from €100,075 to €53,849
- Stocks and contracts +€31,686
up €31,686 (+6.7%), from €474,298 to €505,984
- Tangible fixed assets +€20,803
up €20,803 (+7.6%), from €274,919 to €295,721
of which Leasing and similar rights: +€38,261
Equity and liabilities
- Profit (loss) carried forward +€89,531
up €89,531 (+22.3%), from €401,721 to €491,252
- Other debts +€50,925
up €50,925 (+21,024%), from €242 to €51,168
- Tax, wage and social debts +€30,524
up €30,524 (+149%), from €20,554 to €51,078
of which Taxes: +€30,524
- Trade debts -€27,658
down €27,658 (-74.8%), from €36,954 to €9,295
- Debts after one year -€24,033
down €24,033 (-6.0%), from €403,778 to €379,745
of which Other amounts payable: -€24,000
Income statement
- Gross operating margin +€120,913
up €120,913 (+72.6%), from €166,510 to €287,423
- Taxes +€25,019
up €25,019 (+80.2%), from €31,214 to €56,233
- Write-downs +€23,585
up €23,585, from -€6,489 to €17,096
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€112,018
Gross operating margin
+€120,913
Depreciation
-€1,296
Write-downs
-€23,585
Other operating charges
-€1,392
Financial income
+€2,696
Financial charges
+€196
Taxes
-€25,019
Result 2025
€184,531
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€224,132
Investment
-€2,593
Financing
-€114,262
Cash 2024
€63,209
From operations (derived)
+€224,132
Net result for the year
+€184,531
Depreciation
+€28,016
Stocks and contracts
-€31,686
Receivables within one year
-€4,110
Deferred charges and accrued income
-€638
Trade debts
-€27,658
Tax, wage and social debts
+€30,524
Advances received
-€5,772
Other debts
+€50,925
Investment (derived)
-€2,593
Investment in fixed assets (net)
-€48,819
Current investments
+€46,226
Financing
-€114,262
Debts after one year
-€24,033
Current portion of long-term debt
+€4,771
Contributions, distributions and other
-€95,000
Cash 2025
€170,486
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €921,909 | €1,040,197 | +€118,288 | +12.8% |
| Fixed assets | 21/28 | €274,919 | €295,721 | +€20,803 | +7.6% |
| Tangible fixed assets | 22/27 | €274,919 | €295,721 | +€20,803 | +7.6% |
| Land and buildings | 22 | €237,884 | €222,924 | -€14,960 | -6.3% |
| Plant, machinery and equipment | 23 | €670 | €5,113 | +€4,443 | +664% |
| Furniture and vehicles | 24 | €23,332 | €16,542 | -€6,790 | -29.1% |
| Leasing and similar rights | 25 | - | €38,261 | +€38,261 | |
| Other tangible fixed assets | 26 | €13,032 | €12,881 | -€151 | -1.2% |
| Current assets | 29/58 | €646,990 | €744,476 | +€97,486 | +15.1% |
| Stocks and contracts in progress | 3 | €474,298 | €505,984 | +€31,686 | +6.7% |
| Stocks | 30/36 | €474,298 | €505,984 | +€31,686 | +6.7% |
| Amounts receivable within one year | 40/41 | €9,408 | €13,519 | +€4,110 | +43.7% |
| Trade receivables | 40 | €307 | €4,417 | +€4,110 | +1,340% |
| Other amounts receivable | 41 | €9,102 | €9,102 | = | 0.0% |
| Current investments | 50/53 | €100,075 | €53,849 | -€46,226 | -46.2% |
| Cash at bank and in hand | 54/58 | €63,209 | €170,486 | +€107,278 | +170% |
| Deferred charges and accrued income | 490/1 | - | €638 | +€638 | |
| Total equity and liabilities | 10/49 | €921,909 | €1,040,197 | +€118,288 | +12.8% |
| Equity | 10/15 | €431,721 | €521,252 | +€89,531 | +20.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €401,721 | €491,252 | +€89,531 | +22.3% |
| Amounts payable | 17/49 | €490,188 | €518,945 | +€28,758 | +5.9% |
| Amounts payable after more than one year | 17 | €403,778 | €379,745 | -€24,033 | -6.0% |
| Financial debts | 170/4 | €198,652 | €198,619 | -€33 | 0.0% |
| Other amounts payable | 178/9 | €205,127 | €181,127 | -€24,000 | -11.7% |
| Amounts payable within one year | 42/48 | €86,409 | €139,200 | +€52,791 | +61.1% |
| Current portion of amounts payable after more than one year | 42 | €22,888 | €27,659 | +€4,771 | +20.8% |
| Trade debts | 44 | €36,954 | €9,295 | -€27,658 | -74.8% |
| Suppliers | 440/4 | €36,954 | €9,295 | -€27,658 | -74.8% |
| Advances received on contracts in progress | 46 | €5,772 | €0 | -€5,772 | -100% |
| Taxes, remuneration and social security | 45 | €20,554 | €51,078 | +€30,524 | +149% |
| Taxes | 450/3 | €19,064 | €49,588 | +€30,524 | +160% |
| Remuneration and social security | 454/9 | €1,490 | €1,490 | = | 0.0% |
| Other amounts payable | 47/48 | €242 | €51,168 | +€50,925 | +21,024% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,720 | €28,016 | +€1,296 | +4.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€6,489 | €17,096 | +€23,585 | |
| Other operating charges | 640/8 | €3,556 | €4,948 | +€1,392 | +39.1% |
| Gross operating margin | 9900 | €166,510 | €287,423 | +€120,913 | +72.6% |
| Operating profit (loss) | 9901 | €142,723 | €237,363 | +€94,640 | +66.3% |
| Financial income | 75/76B | €5,048 | €7,743 | +€2,696 | +53.4% |
| Recurring financial income | 75 | €5,048 | €7,743 | +€2,696 | +53.4% |
| Financial charges | 65/66B | €4,539 | €4,343 | -€196 | -4.3% |
| Recurring financial charges | 65 | €4,539 | €4,343 | -€196 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €143,232 | €240,764 | +€97,532 | +68.1% |
| Income taxes | 67/77 | €31,214 | €56,233 | +€25,019 | +80.2% |
| Profit (loss) for the period | 9904 | €112,018 | €184,531 | +€72,513 | +64.7% |
| Profit (loss) for the period to be appropriated | 9905 | €112,018 | €184,531 | +€72,513 | +64.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.