KERMANA: 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.
KERMANA
Largest movements
- Cash +€18,904
up €18,904 (+40.6%), from €46,518 to €65,422
mainly Other debts (+€50,683) and Trade debts (+€28,334)
- Receivables within one year +€13,540
up €13,540 (+302.2%), from €4,481 to €18,021
of which Trade receivables: +€9,489
- Financial fixed assets +€4,665
up €4,665 (+72.0%), from €6,482 to €11,147
- Tangible fixed assets +€1,246
up €1,246 (+22.0%), from €5,653 to €6,899
of which Furniture and vehicles: +€1,688
- Other debts +€50,683
up €50,683 (+36073.0%), from €141 to €50,823
- Profit (loss) carried forward -€47,234
down €47,234 (-89.4%), from €52,818 to €5,584
- Trade debts +€28,334
up €28,334 (+9679.4%), from €293 to €28,627
- Tax, wage and social debts +€6,998
up €6,998 (+84.3%), from €8,298 to €15,296
of which Taxes: +€6,998
- Gross operating margin -€9,638
down €9,638 (-27.1%), from €35,555 to €25,917
- Financial charges +€2,594
up €2,594 (+2246.2%), from €115 to €2,710
- Taxes -€1,579
down €1,579 (-17.1%), from €9,236 to €7,657
- Depreciation +€1,497
up €1,497 (+132.7%), from €1,128 to €2,625
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 | €65,575 | €104,371 | +€38,796 | +59.2% |
| Fixed assets | 21/28 | €12,135 | €18,046 | +€5,911 | +48.7% |
| Tangible fixed assets | 22/27 | €5,653 | €6,899 | +€1,246 | +22.0% |
| Plant, machinery and equipment | 23 | €1,883 | €1,441 | -€442 | -23.5% |
| Furniture and vehicles | 24 | €3,770 | €5,458 | +€1,688 | +44.8% |
| Financial fixed assets | 28 | €6,482 | €11,147 | +€4,665 | +72.0% |
| Current assets | 29/58 | €53,440 | €86,325 | +€32,885 | +61.5% |
| Amounts receivable within one year | 40/41 | €4,481 | €18,021 | +€13,540 | +302.2% |
| Trade receivables | 40 | €2,842 | €12,331 | +€9,489 | +333.9% |
| Other amounts receivable | 41 | €1,639 | €5,690 | +€4,051 | +247.1% |
| Cash at bank and in hand | 54/58 | €46,518 | €65,422 | +€18,904 | +40.6% |
| Deferred charges and accrued income | 490/1 | €2,441 | €2,882 | +€441 | +18.1% |
| Total equity and liabilities | 10/49 | €65,575 | €104,371 | +€38,796 | +59.2% |
| Equity | 10/15 | €56,818 | €9,584 | -€47,234 | -83.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,818 | €5,584 | -€47,234 | -89.4% |
| Amounts payable | 17/49 | €8,756 | €94,787 | +€86,030 | +982.5% |
| Amounts payable within one year | 42/48 | €8,731 | €94,746 | +€86,015 | +985.2% |
| Trade debts | 44 | €293 | €28,627 | +€28,334 | +9679.4% |
| Suppliers | 440/4 | €293 | €28,627 | +€28,334 | +9679.4% |
| Taxes, remuneration and social security | 45 | €8,298 | €15,296 | +€6,998 | +84.3% |
| Taxes | 450/3 | €6,298 | €13,296 | +€6,998 | +111.1% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €141 | €50,823 | +€50,683 | +36073.0% |
| Accrued charges and deferred income | 492/3 | €25 | €41 | +€15 | +59.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,128 | €2,625 | +€1,497 | +132.7% |
| Other operating charges | 640/8 | €805 | €499 | -€306 | -38.0% |
| Gross operating margin | 9900 | €35,555 | €25,917 | -€9,638 | -27.1% |
| Operating profit (loss) | 9901 | €33,621 | €22,792 | -€10,829 | -32.2% |
| Financial income | 75/76B | €228 | €340 | +€113 | +49.5% |
| Recurring financial income | 75 | €228 | €340 | +€113 | +49.5% |
| Financial charges | 65/66B | €115 | €2,710 | +€2,594 | +2246.2% |
| Recurring financial charges | 65 | €115 | €2,710 | +€2,594 | +2246.2% |
| Profit (loss) for the period before taxes | 9903 | €33,733 | €20,423 | -€13,311 | -39.5% |
| Income taxes | 67/77 | €9,236 | €7,657 | -€1,579 | -17.1% |
| Profit (loss) for the period | 9904 | €24,497 | €12,766 | -€11,732 | -47.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,497 | €12,766 | -€11,732 | -47.9% |
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 9 October 2026 via checked.be.