Kerofin: what changed
Two fiscal 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.
Kerofin
Largest movements
- Tangible fixed assets +€43,448
up €43,448 (+1317.9%), from €3,297 to €46,745
of which Furniture and vehicles: +€43,594
- Receivables within one year +€24,559
up €24,559 (+29.8%), from €82,428 to €106,987
of which Other amounts receivable: +€26,944
- Deferred charges and accrued income -€7,544
down €7,544 (-97.5%), from €7,738 to €194
- Reserves -€60,000
down €60,000 (-40.4%), from €148,478 to €88,478
- Other debts +€60,000
new in 2025: €60,000
- Profit (loss) carried forward +€35,850
new in 2025: €35,850
- Debts after one year +€26,758
new in 2025: €26,758
- Tax, wage and social debts -€24,533
down €24,533 (-40.8%), from €60,112 to €35,580
- Gross operating margin -€48,894
down €48,894 (-45.8%), from €106,780 to €57,886
- Taxes -€10,180
down €10,180 (-46.7%), from €21,795 to €11,616
- Depreciation +€5,019
up €5,019 (+480.1%), from €1,046 to €6,065
- Financial charges -€1,598
down €1,598 (-30.0%), from €5,334 to €3,736
- Financial income +€1,346
up €1,346 (+955.1%), from €141 to €1,487
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 | €214,854 | €276,141 | +€61,287 | +28.5% |
| Fixed assets | 21/28 | €3,297 | €46,745 | +€43,448 | +1317.9% |
| Tangible fixed assets | 22/27 | €3,297 | €46,745 | +€43,448 | +1317.9% |
| Plant, machinery and equipment | 23 | €192 | €47 | -€145 | -75.7% |
| Furniture and vehicles | 24 | €3,105 | €46,698 | +€43,594 | +1404.1% |
| Current assets | 29/58 | €211,558 | €229,396 | +€17,838 | +8.4% |
| Amounts receivable within one year | 40/41 | €82,428 | €106,987 | +€24,559 | +29.8% |
| Trade receivables | 40 | €64,017 | €61,632 | -€2,385 | -3.7% |
| Other amounts receivable | 41 | €18,411 | €45,355 | +€26,944 | +146.3% |
| Cash at bank and in hand | 54/58 | €121,392 | €122,215 | +€823 | +0.7% |
| Deferred charges and accrued income | 490/1 | €7,738 | €194 | -€7,544 | -97.5% |
| Total equity and liabilities | 10/49 | €214,854 | €276,141 | +€61,287 | +28.5% |
| Equity | 10/15 | €150,478 | €126,327 | -€24,150 | -16.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €148,478 | €88,478 | -€60,000 | -40.4% |
| Distributable reserves | 133 | €148,478 | €88,478 | -€60,000 | -40.4% |
| Profit (loss) carried forward | 14 | - | €35,850 | +€35,850 | |
| Amounts payable | 17/49 | €64,377 | €149,814 | +€85,437 | +132.7% |
| Amounts payable after more than one year | 17 | - | €26,758 | +€26,758 | |
| Financial debts | 170/4 | - | €26,758 | +€26,758 | |
| Amounts payable within one year | 42/48 | €64,377 | €123,056 | +€58,679 | +91.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | €14,479 | +€14,479 | |
| Financial debts | 43 | €1,328 | €8,408 | +€7,080 | +533.3% |
| Credit institutions | 430/8 | €1,328 | €26 | -€1,302 | -98.0% |
| Other loans | 439 | - | €8,382 | +€8,382 | |
| Trade debts | 44 | €2,937 | €4,589 | +€1,652 | +56.3% |
| Suppliers | 440/4 | €2,937 | €4,589 | +€1,652 | +56.3% |
| Taxes, remuneration and social security | 45 | €60,112 | €35,580 | -€24,533 | -40.8% |
| Taxes | 450/3 | €60,112 | €35,580 | -€24,533 | -40.8% |
| Other amounts payable | 47/48 | - | €60,000 | +€60,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,046 | €6,065 | +€5,019 | +480.1% |
| Other operating charges | 640/8 | €1,513 | €2,107 | +€594 | +39.3% |
| Gross operating margin | 9900 | €106,780 | €57,886 | -€48,894 | -45.8% |
| Operating profit (loss) | 9901 | €104,222 | €49,714 | -€54,507 | -52.3% |
| Financial income | 75/76B | €141 | €1,487 | +€1,346 | +955.1% |
| Recurring financial income | 75 | €141 | €1,487 | +€1,346 | +955.1% |
| Financial charges | 65/66B | €5,334 | €3,736 | -€1,598 | -30.0% |
| Recurring financial charges | 65 | €5,334 | €3,736 | -€1,598 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €99,029 | €47,465 | -€51,563 | -52.1% |
| Income taxes | 67/77 | €21,795 | €11,616 | -€10,180 | -46.7% |
| Profit (loss) for the period | 9904 | €77,233 | €35,850 | -€41,384 | -53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €77,233 | €35,850 | -€41,384 | -53.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.