KERREMANS: 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.
KERREMANS
Largest movements
- Cash +€52,302
up €52,302 (+25.1%), from €208,388 to €260,690
mainly Net result for the year (+€55,627) and Depreciation (+€29,462)
- Tangible fixed assets -€29,462
down €29,462 (-11.1%), from €264,287 to €234,825
of which Furniture and vehicles: -€18,003
- Receivables within one year +€7,044
up €7,044 (+3.7%), from €188,788 to €195,831
of which Trade receivables: +€37,376
- Reserves +€55,627
up €55,627 (+11.2%), from €497,844 to €553,472
of which Distributable reserves: +€55,627
- Tax, wage and social debts -€13,508
down €13,508 (-65.6%), from €20,579 to €7,071
- Debts after one year -€9,783
down €9,783 (-12.9%), from €75,822 to €66,039
- Taxes +€15,547
up €15,547 (+238.3%), from €6,524 to €22,071
- Gross operating margin +€7,589
up €7,589 (+7.3%), from €103,802 to €111,390
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 | €669,124 | €699,653 | +€30,530 | +4.6% |
| Fixed assets | 21/28 | €264,287 | €234,825 | -€29,462 | -11.1% |
| Tangible fixed assets | 22/27 | €264,287 | €234,825 | -€29,462 | -11.1% |
| Land and buildings | 22 | €137,748 | €126,948 | -€10,800 | -7.8% |
| Plant, machinery and equipment | 23 | €2,658 | €1,998 | -€659 | -24.8% |
| Furniture and vehicles | 24 | €123,882 | €105,879 | -€18,003 | -14.5% |
| Current assets | 29/58 | €404,836 | €464,828 | +€59,992 | +14.8% |
| Amounts receivable within one year | 40/41 | €188,788 | €195,831 | +€7,044 | +3.7% |
| Trade receivables | 40 | €67,326 | €104,702 | +€37,376 | +55.5% |
| Other amounts receivable | 41 | €121,462 | €91,129 | -€30,332 | -25.0% |
| Cash at bank and in hand | 54/58 | €208,388 | €260,690 | +€52,302 | +25.1% |
| Deferred charges and accrued income | 490/1 | €7,661 | €8,307 | +€646 | +8.4% |
| Total equity and liabilities | 10/49 | €669,124 | €699,653 | +€30,530 | +4.6% |
| Equity | 10/15 | €559,818 | €615,445 | +€55,627 | +9.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €497,844 | €553,472 | +€55,627 | +11.2% |
| Non-distributable reserves | 130/1 | €27,961 | €27,961 | = | 0.0% |
| Reserves not available under the articles | 1311 | €27,961 | €27,961 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,457 | €26,457 | = | 0.0% |
| Distributable reserves | 133 | €443,426 | €499,054 | +€55,627 | +12.5% |
| Amounts payable | 17/49 | €109,306 | €84,208 | -€25,098 | -23.0% |
| Amounts payable after more than one year | 17 | €75,822 | €66,039 | -€9,783 | -12.9% |
| Financial debts | 170/4 | €75,822 | €66,039 | -€9,783 | -12.9% |
| Amounts payable within one year | 42/48 | €33,484 | €18,169 | -€15,314 | -45.7% |
| Current portion of amounts payable after more than one year | 42 | €9,783 | €9,783 | = | 0.0% |
| Trade debts | 44 | €3,122 | €1,315 | -€1,807 | -57.9% |
| Suppliers | 440/4 | €3,122 | €1,315 | -€1,807 | -57.9% |
| Taxes, remuneration and social security | 45 | €20,579 | €7,071 | -€13,508 | -65.6% |
| Taxes | 450/3 | €20,579 | €7,071 | -€13,508 | -65.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,337 | €29,462 | -€875 | -2.9% |
| Other operating charges | 640/8 | €5,574 | €5,430 | -€144 | -2.6% |
| Gross operating margin | 9900 | €103,802 | €111,390 | +€7,589 | +7.3% |
| Operating profit (loss) | 9901 | €67,890 | €76,498 | +€8,607 | +12.7% |
| Financial income | 75/76B | €3,429 | €4,162 | +€733 | +21.4% |
| Recurring financial income | 75 | €3,429 | €4,162 | +€733 | +21.4% |
| Financial charges | 65/66B | €3,391 | €2,962 | -€429 | -12.6% |
| Recurring financial charges | 65 | €3,391 | €2,962 | -€429 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €67,929 | €77,698 | +€9,769 | +14.4% |
| Income taxes | 67/77 | €6,524 | €22,071 | +€15,547 | +238.3% |
| Profit (loss) for the period | 9904 | €61,405 | €55,627 | -€5,778 | -9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €61,405 | €55,627 | -€5,778 | -9.4% |
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 4 October 2026 via checked.be.