KERREMANS & Co: 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.
KERREMANS & Co
Largest movements
- Tangible fixed assets +€295,500
up €295,500 (+61.1%), from €483,537 to €779,037
of which Land and buildings: +€306,494
- Receivables within one year +€100,822
up €100,822 (+853%), from €11,823 to €112,645
- Cash +€56,266
up €56,266 (+81.2%), from €69,310 to €125,576
mainly Debts after one year (+€234,959) and Net result for the year (+€177,674)
- Debts after one year +€234,959
up €234,959 (+328%), from €71,740 to €306,698
- Reserves +€177,214
up €177,214 (+242%), from €73,108 to €250,322
of which Distributable reserves: +€179,000
- Tax, wage and social debts +€16,076
up €16,076 (+881%), from €1,824 to €17,900
- Current portion of long-term debt +€15,058
up €15,058 (+226%), from €6,662 to €21,719
- Financial income +€203,450
up €203,450 (+1,130%), from €18,000 to €221,450
- Other operating charges +€25,178
up €25,178 (+854%), from €2,950 to €28,128
- Taxes +€17,900
new in 2025: €17,900
- Gross operating margin +€15,977
up €15,977 (+42.8%), from €37,355 to €53,332
- Depreciation +€11,921
up €11,921 (+45.4%), from €26,235 to €38,157
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.
Derived cash bridge
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 | €637,988 | €1,090,494 | +€452,506 | +70.9% |
| Fixed assets | 21/28 | €556,855 | €852,052 | +€295,198 | +53.0% |
| Tangible fixed assets | 22/27 | €483,537 | €779,037 | +€295,500 | +61.1% |
| Land and buildings | 22 | €439,153 | €745,647 | +€306,494 | +69.8% |
| Furniture and vehicles | 24 | €3,848 | €4,136 | +€288 | +7.5% |
| Assets under construction and advance payments | 27 | €40,536 | €29,254 | -€11,282 | -27.8% |
| Financial fixed assets | 28 | €73,318 | €73,015 | -€303 | -0.4% |
| Current assets | 29/58 | €81,133 | €238,442 | +€157,309 | +194% |
| Amounts receivable within one year | 40/41 | €11,823 | €112,645 | +€100,822 | +853% |
| Other amounts receivable | 41 | €11,823 | €112,645 | +€100,822 | +853% |
| Cash at bank and in hand | 54/58 | €69,310 | €125,576 | +€56,266 | +81.2% |
| Deferred charges and accrued income | 490/1 | - | €221 | +€221 | |
| Total equity and liabilities | 10/49 | €637,988 | €1,090,494 | +€452,506 | +70.9% |
| Equity | 10/15 | €464,120 | €641,794 | +€177,674 | +38.3% |
| Contributions | 10/11 | €2,727 | €2,727 | = | 0.0% |
| Reserves | 13 | €73,108 | €250,322 | +€177,214 | +242% |
| Tax-exempt reserves | 132 | €38,169 | €36,383 | -€1,786 | -4.7% |
| Distributable reserves | 133 | €34,939 | €213,939 | +€179,000 | +512% |
| Profit (loss) carried forward | 14 | €388,285 | €388,745 | +€460 | +0.1% |
| Provisions and deferred taxes | 16 | €12,723 | €12,128 | -€595 | -4.7% |
| Deferred taxes | 168 | €12,723 | €12,128 | -€595 | -4.7% |
| Amounts payable | 17/49 | €161,144 | €436,572 | +€275,428 | +171% |
| Amounts payable after more than one year | 17 | €71,740 | €306,698 | +€234,959 | +328% |
| Financial debts | 170/4 | €71,740 | €306,698 | +€234,959 | +328% |
| Amounts payable within one year | 42/48 | €89,363 | €129,823 | +€40,461 | +45.3% |
| Current portion of amounts payable after more than one year | 42 | €6,662 | €21,719 | +€15,058 | +226% |
| Trade debts | 44 | €303 | €933 | +€630 | +208% |
| Suppliers | 440/4 | €303 | €933 | +€630 | +208% |
| Taxes, remuneration and social security | 45 | €1,824 | €17,900 | +€16,076 | +881% |
| Taxes | 450/3 | €1,824 | €17,900 | +€16,076 | +881% |
| Other amounts payable | 47/48 | €80,574 | €89,271 | +€8,697 | +10.8% |
| Accrued charges and deferred income | 492/3 | €42 | €50 | +€8 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,235 | €38,157 | +€11,921 | +45.4% |
| Other operating charges | 640/8 | €2,950 | €28,128 | +€25,178 | +854% |
| Gross operating margin | 9900 | €37,355 | €53,332 | +€15,977 | +42.8% |
| Operating profit (loss) | 9901 | €8,170 | -€12,953 | -€21,123 | |
| Financial income | 75/76B | €18,000 | €221,450 | +€203,450 | +1,130% |
| Recurring financial income | 75 | €18,000 | €221,450 | +€203,450 | +1,130% |
| Financial charges | 65/66B | €7,522 | €13,519 | +€5,997 | +79.7% |
| Recurring financial charges | 65 | €7,522 | €13,519 | +€5,997 | +79.7% |
| Profit (loss) for the period before taxes | 9903 | €18,648 | €194,979 | +€176,330 | +946% |
| Transfer from deferred taxes | 780 | €595 | €595 | = | 0.0% |
| Income taxes | 67/77 | - | €17,900 | +€17,900 | |
| Profit (loss) for the period | 9904 | €19,244 | €177,674 | +€158,430 | +823% |
| Transfer from tax-exempt reserves | 789 | €1,786 | €1,786 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,030 | €179,460 | +€158,430 | +753% |
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 28 October 2026 via checked.be.