KEROS: 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
KEROS
NACE 01.450, Raising of sheep and goats
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€615,733
2024 · €790,569-€174,836
Equity
€639,968
2024 · €1.5m-€884,267
Cash
€479,438
2024 · €506,462-€27,024
Balance sheet total
€5.5m
2024 · €5.2m+€233,393
Largest movements
Assets
- Current investments +€473,293
up €473,293 (+106.4%), from €445,000 to €918,293
- Tangible fixed assets -€179,796
down €179,796 (-6.0%), from €3.0m to €2.8m
of which Other tangible fixed assets: -€179,217
Equity and liabilities
- Reserves -€884,267
down €884,267 (-72.1%), from €1.2m to €342,968
of which Distributable reserves: -€884,267
- Other debts +€709,431
up €709,431 (+89.7%), from €790,569 to €1.5m
- Debts after one year +€555,403
up €555,403 (+24.6%), from €2.3m to €2.8m
of which Other amounts payable: +€2.5m
- Trade debts -€92,816
down €92,816 (-41.7%), from €222,498 to €129,682
Income statement
- Gross operating margin -€199,858
down €199,858 (-10.5%), from €1.9m to €1.7m
- Taxes -€53,985
down €53,985 (-21.5%), from €251,418 to €197,433
- Staff costs +€39,730
up €39,730 (+12.7%), from €311,868 to €351,598
- Financial income +€33,950
up €33,950 (+156.3%), from €21,718 to €55,668
- Depreciation +€27,755
up €27,755 (+8.3%), from €335,432 to €363,187
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
€790,569
Gross operating margin
-€199,858
Staff costs
-€39,730
Depreciation
-€27,755
Write-downs
-€2,122
Other operating charges
-€4,311
Financial income
+€33,950
Financial charges
+€11,004
Taxes
+€53,985
Result 2025
€615,733
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
+€1.6m
Investment
-€656,684
Financing
-€964,597
Cash 2024
€506,462
From operations (derived)
+€1.6m
Net result for the year
+€615,733
Depreciation
+€363,187
Stocks and contracts
+€19,320
Receivables within one year
+€17,144
Deferred charges and accrued income
-€3,383
Trade debts
-€92,816
Tax, wage and social debts
-€24,535
Other debts
+€709,431
Accrued charges and deferred income
-€9,823
Investment (derived)
-€656,684
Investment in fixed assets (net)
-€183,391
Current investments
-€473,293
Financing
-€964,597
Debts after one year
+€555,403
Current portion of long-term debt
-€20,000
Contributions, distributions and other
-€1.5m
Cash 2025
€479,438
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,221,376 | €5,454,769 | +€233,393 | +4.5% |
| Fixed assets | 21/28 | €2,981,392 | €2,801,596 | -€179,796 | -6.0% |
| Tangible fixed assets | 22/27 | €2,974,859 | €2,795,063 | -€179,796 | -6.0% |
| Land and buildings | 22 | €2,480,747 | €2,556,120 | +€75,373 | +3.0% |
| Plant, machinery and equipment | 23 | €150,819 | €115,623 | -€35,195 | -23.3% |
| Furniture and vehicles | 24 | €164,075 | €123,320 | -€40,755 | -24.8% |
| Other tangible fixed assets | 26 | €179,217 | €0 | -€179,217 | -100.0% |
| Financial fixed assets | 28 | €6,533 | €6,533 | = | 0.0% |
| Current assets | 29/58 | €2,239,985 | €2,653,173 | +€413,188 | +18.4% |
| Stocks and contracts in progress | 3 | €853,810 | €834,490 | -€19,320 | -2.3% |
| Stocks | 30/36 | €853,810 | €834,490 | -€19,320 | -2.3% |
| Amounts receivable within one year | 40/41 | €391,509 | €374,365 | -€17,144 | -4.4% |
| Trade receivables | 40 | €315,266 | €286,711 | -€28,555 | -9.1% |
| Other amounts receivable | 41 | €76,243 | €87,654 | +€11,411 | +15.0% |
| Current investments | 50/53 | €445,000 | €918,293 | +€473,293 | +106.4% |
| Cash at bank and in hand | 54/58 | €506,462 | €479,438 | -€27,024 | -5.3% |
| Deferred charges and accrued income | 490/1 | €43,203 | €46,586 | +€3,383 | +7.8% |
| Total equity and liabilities | 10/49 | €5,221,376 | €5,454,769 | +€233,393 | +4.5% |
| Equity | 10/15 | €1,524,235 | €639,968 | -€884,267 | -58.0% |
| Contributions | 10/11 | €297,000 | €297,000 | = | 0.0% |
| Capital | 10 | €297,000 | €297,000 | = | 0.0% |
| Issued capital | 100 | €297,000 | €297,000 | = | 0.0% |
| Reserves | 13 | €1,227,235 | €342,968 | -€884,267 | -72.1% |
| Non-distributable reserves | 130/1 | €29,700 | €29,700 | = | 0.0% |
| Legal reserve | 130 | €29,700 | €29,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €210,500 | €210,500 | = | 0.0% |
| Distributable reserves | 133 | €987,035 | €102,768 | -€884,267 | -89.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,697,142 | €4,814,801 | +€1.1m | +30.2% |
| Amounts payable after more than one year | 17 | €2,258,366 | €2,813,768 | +€555,403 | +24.6% |
| Financial debts | 170/4 | €2,258,366 | €300,000 | -€2.0m | -86.7% |
| Other amounts payable | 178/9 | - | €2,513,768 | +€2.5m | |
| Amounts payable within one year | 42/48 | €1,254,427 | €1,826,507 | +€572,080 | +45.6% |
| Current portion of amounts payable after more than one year | 42 | €170,000 | €150,000 | -€20,000 | -11.8% |
| Trade debts | 44 | €222,498 | €129,682 | -€92,816 | -41.7% |
| Suppliers | 440/4 | €222,498 | €129,682 | -€92,816 | -41.7% |
| Taxes, remuneration and social security | 45 | €71,360 | €46,824 | -€24,535 | -34.4% |
| Taxes | 450/3 | €46,958 | €22,116 | -€24,843 | -52.9% |
| Remuneration and social security | 454/9 | €24,402 | €24,709 | +€307 | +1.3% |
| Other amounts payable | 47/48 | €790,569 | €1,500,000 | +€709,431 | +89.7% |
| Accrued charges and deferred income | 492/3 | €184,349 | €174,526 | -€9,823 | -5.3% |
| Non-recurring operating income | 76A | €83,855 | €0 | -€83,855 | -100.0% |
| Remuneration, social security and pensions | 62 | €311,868 | €351,598 | +€39,730 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €335,432 | €363,187 | +€27,755 | +8.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,122 | +€2,122 | |
| Other operating charges | 640/8 | €39,624 | €43,934 | +€4,311 | +10.9% |
| Gross operating margin | 9900 | €1,895,957 | €1,696,099 | -€199,858 | -10.5% |
| Operating profit (loss) | 9901 | €1,209,033 | €935,258 | -€273,776 | -22.6% |
| Financial income | 75/76B | €21,718 | €55,668 | +€33,950 | +156.3% |
| Recurring financial income | 75 | €21,718 | €55,668 | +€33,950 | +156.3% |
| Financial charges | 65/66B | €188,764 | €177,760 | -€11,004 | -5.8% |
| Recurring financial charges | 65 | €188,764 | €177,760 | -€11,004 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €1,041,987 | €813,166 | -€228,821 | -22.0% |
| Income taxes | 67/77 | €251,418 | €197,433 | -€53,985 | -21.5% |
| Profit (loss) for the period | 9904 | €790,569 | €615,733 | -€174,836 | -22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €790,569 | €615,733 | -€174,836 | -22.1% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.