KEROTEC: 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.
KEROTEC
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Tangible fixed assets -€42,356
down €42,356 (-13.8%), from €306,588 to €264,232
of which Furniture and vehicles: -€29,403
- Cash -€33,657
down €33,657 (-11.3%), from €297,001 to €263,345
mainly Contributions, distributions and other (-€260,000) and Current investments (-€100,000)
- Receivables within one year -€21,159
down €21,159 (-18.9%), from €111,856 to €90,696
of which Trade receivables: -€27,751
- Other debts +€60,000
up €60,000 (+48.9%), from €122,816 to €182,816
- Trade debts -€26,616
down €26,616 (-62.9%), from €42,286 to €15,670
- Debts after one year -€23,901
down €23,901 (-13.7%), from €174,714 to €150,813
- Gross operating margin +€50,918
up €50,918 (+18.6%), from €273,426 to €324,344
- Depreciation +€6,605
up €6,605 (+18.5%), from €35,751 to €42,356
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 | €715,446 | €718,912 | +€3,467 | +0.5% |
| Fixed assets | 21/28 | €306,588 | €264,232 | -€42,356 | -13.8% |
| Tangible fixed assets | 22/27 | €306,588 | €264,232 | -€42,356 | -13.8% |
| Land and buildings | 22 | €204,519 | €191,567 | -€12,953 | -6.3% |
| Furniture and vehicles | 24 | €102,069 | €72,666 | -€29,403 | -28.8% |
| Current assets | 29/58 | €408,857 | €454,680 | +€45,823 | +11.2% |
| Amounts receivable within one year | 40/41 | €111,856 | €90,696 | -€21,159 | -18.9% |
| Trade receivables | 40 | €95,915 | €68,163 | -€27,751 | -28.9% |
| Other amounts receivable | 41 | €15,941 | €22,533 | +€6,592 | +41.4% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €297,001 | €263,345 | -€33,657 | -11.3% |
| Deferred charges and accrued income | 490/1 | - | €639 | +€639 | |
| Total equity and liabilities | 10/49 | €715,446 | €718,912 | +€3,467 | +0.5% |
| Equity | 10/15 | €351,699 | €345,307 | -€6,392 | -1.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €347,699 | €341,307 | -€6,392 | -1.8% |
| Distributable reserves | 133 | €347,699 | €341,307 | -€6,392 | -1.8% |
| Amounts payable | 17/49 | €363,747 | €373,605 | +€9,859 | +2.7% |
| Amounts payable after more than one year | 17 | €174,714 | €150,813 | -€23,901 | -13.7% |
| Financial debts | 170/4 | €174,714 | €150,813 | -€23,901 | -13.7% |
| Amounts payable within one year | 42/48 | €189,033 | €222,793 | +€33,760 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €23,425 | €23,901 | +€476 | +2.0% |
| Trade debts | 44 | €42,286 | €15,670 | -€26,616 | -62.9% |
| Suppliers | 440/4 | €42,286 | €15,670 | -€26,616 | -62.9% |
| Taxes, remuneration and social security | 45 | €506 | €406 | -€100 | -19.8% |
| Taxes | 450/3 | €506 | €406 | -€100 | -19.8% |
| Other amounts payable | 47/48 | €122,816 | €182,816 | +€60,000 | +48.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,751 | €42,356 | +€6,605 | +18.5% |
| Other operating charges | 640/8 | €1,584 | €2,019 | +€434 | +27.4% |
| Gross operating margin | 9900 | €273,426 | €324,344 | +€50,918 | +18.6% |
| Operating profit (loss) | 9901 | €236,090 | €279,969 | +€43,879 | +18.6% |
| Financial income | 75/76B | €330 | €227 | -€102 | -31.0% |
| Recurring financial income | 75 | €330 | €227 | -€102 | -31.0% |
| Financial charges | 65/66B | €8,464 | €7,277 | -€1,188 | -14.0% |
| Recurring financial charges | 65 | €8,464 | €7,277 | -€1,188 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €227,955 | €272,919 | +€44,964 | +19.7% |
| Income taxes | 67/77 | €20,735 | €19,311 | -€1,424 | -6.9% |
| Profit (loss) for the period | 9904 | €207,221 | €253,608 | +€46,387 | +22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €207,221 | €253,608 | +€46,387 | +22.4% |
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.