Kerlinga: 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.
Kerlinga
Largest movements
- Deferred charges and accrued income +€56,889
up €56,889 (+1,334%), from €4,264 to €61,154
- Receivables within one year +€52,318
up €52,318 (+467%), from €11,205 to €63,523
of which Other amounts receivable: +€52,318
- Cash -€48,559
down €48,559 (-69.3%), from €70,040 to €21,481
mainly Debts after one year (-€140,000) and Deferred charges and accrued income (-€56,889)
- Profit (loss) carried forward +€142,370
up €142,370 (+28.3%), from €503,868 to €646,238
- Debts after one year -€140,000
down €140,000 (-8.3%), from €1.7m to €1.6m
- Tax, wage and social debts +€56,820
up €56,820 (+98.7%), from €57,566 to €114,386
- Gross operating margin -€8,016
down €8,016 (-3.8%), from €211,777 to €203,761
- Financial charges -€6,388
down €6,388 (-13.2%), from €48,485 to €42,097
- Staff costs +€4,579
up €4,579 (+51.6%), from -€8,881 to -€4,302
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 | €2,746,626 | €2,805,546 | +€58,920 | +2.1% |
| Fixed assets | 21/28 | €2,661,116 | €2,659,389 | -€1,728 | -0.1% |
| Tangible fixed assets | 22/27 | €11,116 | €9,389 | -€1,728 | -15.5% |
| Land and buildings | 22 | €2,052 | €2,052 | = | 0.0% |
| Plant, machinery and equipment | 23 | €8,658 | €7,174 | -€1,484 | -17.1% |
| Furniture and vehicles | 24 | €407 | €163 | -€244 | -60.0% |
| Financial fixed assets | 28 | €2,650,000 | €2,650,000 | = | 0.0% |
| Current assets | 29/58 | €85,509 | €146,157 | +€60,648 | +70.9% |
| Amounts receivable within one year | 40/41 | €11,205 | €63,523 | +€52,318 | +467% |
| Trade receivables | 40 | €3,998 | €3,998 | = | 0.0% |
| Other amounts receivable | 41 | €7,207 | €59,525 | +€52,318 | +726% |
| Cash at bank and in hand | 54/58 | €70,040 | €21,481 | -€48,559 | -69.3% |
| Deferred charges and accrued income | 490/1 | €4,264 | €61,154 | +€56,889 | +1,334% |
| Total equity and liabilities | 10/49 | €2,746,626 | €2,805,546 | +€58,920 | +2.1% |
| Equity | 10/15 | €805,697 | €948,067 | +€142,370 | +17.7% |
| Contributions | 10/11 | €256,238 | €256,238 | = | 0.0% |
| Reserves | 13 | €45,591 | €45,591 | = | 0.0% |
| Distributable reserves | 133 | €45,591 | €45,591 | = | 0.0% |
| Profit (loss) carried forward | 14 | €503,868 | €646,238 | +€142,370 | +28.3% |
| Amounts payable | 17/49 | €1,940,929 | €1,857,479 | -€83,450 | -4.3% |
| Amounts payable after more than one year | 17 | €1,690,000 | €1,550,000 | -€140,000 | -8.3% |
| Financial debts | 170/4 | €1,690,000 | €1,550,000 | -€140,000 | -8.3% |
| Amounts payable within one year | 42/48 | €250,929 | €307,479 | +€56,550 | +22.5% |
| Current portion of amounts payable after more than one year | 42 | €140,000 | €140,000 | = | 0.0% |
| Trade debts | 44 | €2,265 | €1,995 | -€270 | -11.9% |
| Suppliers | 440/4 | €2,265 | €1,995 | -€270 | -11.9% |
| Taxes, remuneration and social security | 45 | €57,566 | €114,386 | +€56,820 | +98.7% |
| Taxes | 450/3 | €57,566 | €114,386 | +€56,820 | +98.7% |
| Other amounts payable | 47/48 | €51,098 | €51,098 | = | 0.0% |
| Remuneration, social security and pensions | 62 | -€8,881 | -€4,302 | +€4,579 | +51.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,654 | €1,728 | +€74 | +4.5% |
| Other operating charges | 640/8 | €17,778 | €18,483 | +€705 | +4.0% |
| Gross operating margin | 9900 | €211,777 | €203,761 | -€8,016 | -3.8% |
| Operating profit (loss) | 9901 | €201,226 | €187,852 | -€13,374 | -6.6% |
| Financial income | 75/76B | €52,505 | €53,000 | +€495 | +0.9% |
| Recurring financial income | 75 | €52,505 | €53,000 | +€495 | +0.9% |
| Financial charges | 65/66B | €48,485 | €42,097 | -€6,388 | -13.2% |
| Recurring financial charges | 65 | €48,485 | €42,097 | -€6,388 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €205,246 | €198,755 | -€6,491 | -3.2% |
| Income taxes | 67/77 | €57,457 | €56,384 | -€1,073 | -1.9% |
| Profit (loss) for the period | 9904 | €147,789 | €142,370 | -€5,418 | -3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €147,789 | €142,370 | -€5,418 | -3.7% |
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 13 October 2026 via checked.be.