KEROBE: 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.
What changed
KEROBE
NACE 77.221, Rental and leasing activities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€277,530
2024 · -€384,562+€662,092
Equity
€6.3m
2024 · €6.0m+€277,530
Cash
€243,479
2024 · €269,639-€26,161
Balance sheet total
€21.4m
2024 · €17.1m+€4.3m
Largest movements
Assets
- Stocks and contracts +€2.7m
up €2.7m (+48.8%), from €5.5m to €8.2m
- Tangible fixed assets +€2.1m
up €2.1m (+20.1%), from €10.4m to €12.5m
of which Land and buildings: +€2.1m
- Receivables within one year -€241,183
down €241,183 (-49.5%), from €487,085 to €245,902
of which Other amounts receivable: -€232,956
Equity and liabilities
- Debts after one year +€3.0m
up €3.0m (+34.6%), from €8.7m to €11.7m
- Other debts +€900,057
up €900,057 (+63.4%), from €1.4m to €2.3m
- Profit (loss) carried forward +€299,207
up €299,207 (+61.4%), from €487,284 to €786,490
Income statement
- Gross operating margin +€644,870
up €644,870 (+113.8%), from €566,687 to €1.2m
- Depreciation +€61,564
up €61,564 (+9.5%), from €648,149 to €709,713
- Financial charges -€39,702
down €39,702 (-14.8%), from €268,063 to €228,361
- Financial income +€28,538
up €28,538 (+71.2%), from €40,091 to €68,629
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.
Result 2024
-€384,562
Gross operating margin
+€644,870
Staff costs
-€477
Depreciation
-€61,564
Other operating charges
+€10,809
Financial income
+€28,538
Financial charges
+€39,702
Taxes
+€213
Result 2025
€277,530
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.
From operations
-€538,174
Investment
-€2.6m
Financing
+€3.1m
Cash 2024
€269,639
From operations (derived)
-€538,174
Net result for the year
+€277,530
Depreciation
+€709,713
Stocks and contracts
-€2.7m
Receivables within one year
+€241,183
Deferred charges and accrued income
-€1,235
Trade debts
+€38,864
Tax, wage and social debts
-€27,879
Other debts
+€900,057
Accrued charges and deferred income
+€29,041
Investment (derived)
-€2.6m
Investment in fixed assets (net)
-€2.8m
Current investments
+€201,725
Financing
+€3.1m
Debts after one year
+€3.0m
Current portion of long-term debt
+€88,589
Cash 2025
€243,479
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,094,876 | €21,412,822 | +€4.3m | +25.3% |
| Fixed assets | 21/28 | €10,400,144 | €12,480,475 | +€2.1m | +20.0% |
| Tangible fixed assets | 22/27 | €10,387,733 | €12,471,564 | +€2.1m | +20.1% |
| Land and buildings | 22 | €10,088,598 | €12,183,521 | +€2.1m | +20.8% |
| Plant, machinery and equipment | 23 | €179 | €0 | -€179 | -100.0% |
| Furniture and vehicles | 24 | €298,956 | €288,042 | -€10,913 | -3.7% |
| Financial fixed assets | 28 | €12,412 | €8,912 | -€3,500 | -28.2% |
| Current assets | 29/58 | €6,694,731 | €8,932,347 | +€2.2m | +33.4% |
| Stocks and contracts in progress | 3 | €5,543,897 | €8,249,346 | +€2.7m | +48.8% |
| Stocks | 30/36 | €5,543,897 | €8,249,346 | +€2.7m | +48.8% |
| Amounts receivable within one year | 40/41 | €487,085 | €245,902 | -€241,183 | -49.5% |
| Trade receivables | 40 | €47,104 | €38,877 | -€8,227 | -17.5% |
| Other amounts receivable | 41 | €439,981 | €207,024 | -€232,956 | -52.9% |
| Current investments | 50/53 | €390,681 | €188,957 | -€201,725 | -51.6% |
| Cash at bank and in hand | 54/58 | €269,639 | €243,479 | -€26,161 | -9.7% |
| Deferred charges and accrued income | 490/1 | €3,429 | €4,664 | +€1,235 | +36.0% |
| Total equity and liabilities | 10/49 | €17,094,876 | €21,412,822 | +€4.3m | +25.3% |
| Equity | 10/15 | €6,013,734 | €6,291,264 | +€277,530 | +4.6% |
| Contributions | 10/11 | €3,380,071 | €3,380,071 | = | 0.0% |
| Capital | 10 | €3,380,071 | €3,380,071 | = | 0.0% |
| Issued capital | 100 | €3,380,071 | €3,380,071 | = | 0.0% |
| Reserves | 13 | €2,146,380 | €2,124,703 | -€21,677 | -1.0% |
| Non-distributable reserves | 130/1 | €338,007 | €338,007 | = | 0.0% |
| Legal reserve | 130 | €338,007 | €338,007 | = | 0.0% |
| Tax-exempt reserves | 132 | €908,373 | €886,696 | -€21,677 | -2.4% |
| Distributable reserves | 133 | €900,000 | €900,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €487,284 | €786,490 | +€299,207 | +61.4% |
| Amounts payable | 17/49 | €11,081,141 | €15,121,558 | +€4.0m | +36.5% |
| Amounts payable after more than one year | 17 | €8,709,967 | €11,721,711 | +€3.0m | +34.6% |
| Financial debts | 170/4 | €8,709,967 | €11,721,711 | +€3.0m | +34.6% |
| Amounts payable within one year | 42/48 | €2,354,583 | €3,354,214 | +€999,631 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | €252,759 | €341,348 | +€88,589 | +35.0% |
| Financial debts | 43 | €600,000 | €600,000 | = | 0.0% |
| Credit institutions | 430/8 | €600,000 | €600,000 | = | 0.0% |
| Trade debts | 44 | €41,284 | €80,147 | +€38,864 | +94.1% |
| Suppliers | 440/4 | €41,284 | €80,147 | +€38,864 | +94.1% |
| Taxes, remuneration and social security | 45 | €40,247 | €12,369 | -€27,879 | -69.3% |
| Taxes | 450/3 | €39,310 | €11,537 | -€27,773 | -70.7% |
| Remuneration and social security | 454/9 | €937 | €832 | -€105 | -11.3% |
| Other amounts payable | 47/48 | €1,420,293 | €2,320,350 | +€900,057 | +63.4% |
| Accrued charges and deferred income | 492/3 | €16,592 | €45,633 | +€29,041 | +175.0% |
| Remuneration, social security and pensions | 62 | €5,484 | €5,961 | +€477 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €648,149 | €709,713 | +€61,564 | +9.5% |
| Other operating charges | 640/8 | €69,235 | €58,425 | -€10,809 | -15.6% |
| Gross operating margin | 9900 | €566,687 | €1,211,557 | +€644,870 | +113.8% |
| Operating profit (loss) | 9901 | -€156,181 | €437,458 | +€593,638 | |
| Financial income | 75/76B | €40,091 | €68,629 | +€28,538 | +71.2% |
| Recurring financial income | 75 | €40,091 | €68,629 | +€28,538 | +71.2% |
| Financial charges | 65/66B | €268,063 | €228,361 | -€39,702 | -14.8% |
| Recurring financial charges | 65 | €268,063 | €228,361 | -€39,702 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | -€384,152 | €277,726 | +€661,878 | |
| Income taxes | 67/77 | €410 | €196 | -€213 | -52.1% |
| Profit (loss) for the period | 9904 | -€384,562 | €277,530 | +€662,092 | |
| Transfer from tax-exempt reserves | 789 | €21,677 | €21,677 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€362,885 | €299,207 | +€662,092 |
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 11 October 2026 via checked.be.