KERTODEC: 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.
KERTODEC
Largest movements
- Receivables within one year +€4,440
up €4,440 (+170%), from €2,605 to €7,045
- Tangible fixed assets -€4,262
down €4,262 (-29.5%), from €14,468 to €10,206
- Cash -€811
down €811 (-17.9%), from €4,521 to €3,710
mainly Receivables within one year (-€4,440) and Trade debts (-€2,015)
- Profit (loss) carried forward +€3,393
up €3,393 (+36.0%), from -€9,418 to -€6,026
- Trade debts -€2,015
down €2,015 (-97.5%), from €2,066 to €51
- Other debts -€1,971
down €1,971 (-24.6%), from €8,000 to €6,029
- Gross operating margin +€2,628
up €2,628 (+45.5%), from €5,777 to €8,405
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 | €21,854 | €21,261 | -€593 | -2.7% |
| Fixed assets | 21/28 | €14,468 | €10,206 | -€4,262 | -29.5% |
| Tangible fixed assets | 22/27 | €14,468 | €10,206 | -€4,262 | -29.5% |
| Furniture and vehicles | 24 | €14,468 | €10,206 | -€4,262 | -29.5% |
| Current assets | 29/58 | €7,386 | €11,055 | +€3,669 | +49.7% |
| Stocks and contracts in progress | 3 | €260 | €300 | +€40 | +15.4% |
| Stocks | 30/36 | €260 | €300 | +€40 | +15.4% |
| Amounts receivable within one year | 40/41 | €2,605 | €7,045 | +€4,440 | +170% |
| Trade receivables | 40 | €2,605 | €7,045 | +€4,440 | +170% |
| Cash at bank and in hand | 54/58 | €4,521 | €3,710 | -€811 | -17.9% |
| Total equity and liabilities | 10/49 | €21,854 | €21,261 | -€593 | -2.7% |
| Equity | 10/15 | €11,033 | €14,425 | +€3,393 | +30.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,418 | -€6,026 | +€3,393 | +36.0% |
| Amounts payable | 17/49 | €10,821 | €6,836 | -€3,986 | -36.8% |
| Amounts payable within one year | 42/48 | €10,821 | €6,836 | -€3,986 | -36.8% |
| Trade debts | 44 | €2,066 | €51 | -€2,015 | -97.5% |
| Suppliers | 440/4 | €2,066 | €51 | -€2,015 | -97.5% |
| Taxes, remuneration and social security | 45 | €755 | €756 | +€1 | +0.1% |
| Taxes | 450/3 | €755 | €756 | +€1 | +0.1% |
| Other amounts payable | 47/48 | €8,000 | €6,029 | -€1,971 | -24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,262 | €4,262 | = | 0.0% |
| Other operating charges | 640/8 | €651 | €670 | +€19 | +2.9% |
| Gross operating margin | 9900 | €5,777 | €8,405 | +€2,628 | +45.5% |
| Operating profit (loss) | 9901 | €863 | €3,473 | +€2,609 | +302% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €67 | €80 | +€13 | +19.2% |
| Recurring financial charges | 65 | €67 | €80 | +€13 | +19.2% |
| Profit (loss) for the period before taxes | 9903 | €797 | €3,393 | +€2,595 | +325% |
| Profit (loss) for the period | 9904 | €797 | €3,393 | +€2,595 | +325% |
| Profit (loss) for the period to be appropriated | 9905 | €797 | €3,393 | +€2,595 | +325% |
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 16 October 2026 via checked.be.