KERTRO: 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.
KERTRO
Largest movements
- Tangible fixed assets -€5,038
down €5,038 (-3.2%), from €158,689 to €153,651
of which Land and buildings: -€7,268
- Cash -€2,784
down €2,784 (-97.7%), from €2,849 to €65
mainly Investment in fixed assets (net) (-€10,307) and Debts after one year (-€9,519)
- Other debts +€11,910
up €11,910 (+10.2%), from €116,290 to €128,199
- Debts after one year -€9,519
down €9,519 (-5.8%), from €165,273 to €155,754
- Trade debts -€6,359
down €6,359 (-46.9%), from €13,549 to €7,190
- Profit (loss) carried forward -€4,342
down €4,342 (-2.6%), from -€164,359 to -€168,701
- Gross operating margin +€7,771
up €7,771 (+83.2%), from €9,340 to €17,112
- Depreciation -€7,363
down €7,363 (-32.4%), from €22,708 to €15,345
- Other operating charges -€2,855
down €2,855 (-100.0%), from €2,855 to €0
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €165,908 | €157,521 | -€8,387 | -5.1% |
| Fixed assets | 21/28 | €158,689 | €153,651 | -€5,038 | -3.2% |
| Tangible fixed assets | 22/27 | €158,689 | €153,651 | -€5,038 | -3.2% |
| Land and buildings | 22 | €158,689 | €151,421 | -€7,268 | -4.6% |
| Plant, machinery and equipment | 23 | - | €2,230 | +€2,230 | |
| Current assets | 29/58 | €7,220 | €3,870 | -€3,350 | -46.4% |
| Amounts receivable within one year | 40/41 | €4,139 | €3,801 | -€338 | -8.2% |
| Trade receivables | 40 | €2,500 | €2,500 | = | 0.0% |
| Other amounts receivable | 41 | €1,639 | €1,301 | -€338 | -20.6% |
| Current investments | 50/53 | €4 | €4 | +€0 | +1.0% |
| Cash at bank and in hand | 54/58 | €2,849 | €65 | -€2,784 | -97.7% |
| Deferred charges and accrued income | 490/1 | €228 | €0 | -€228 | -100.0% |
| Total equity and liabilities | 10/49 | €165,908 | €157,521 | -€8,387 | -5.1% |
| Equity | 10/15 | -€138,948 | -€143,290 | -€4,342 | -3.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €411 | €411 | = | 0.0% |
| Tax-exempt reserves | 132 | €78 | €78 | = | 0.0% |
| Distributable reserves | 133 | €333 | €333 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€164,359 | -€168,701 | -€4,342 | -2.6% |
| Amounts payable | 17/49 | €304,856 | €300,811 | -€4,046 | -1.3% |
| Amounts payable after more than one year | 17 | €165,273 | €155,754 | -€9,519 | -5.8% |
| Financial debts | 170/4 | €165,273 | €155,754 | -€9,519 | -5.8% |
| Amounts payable within one year | 42/48 | €139,583 | €145,057 | +€5,474 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €9,745 | €9,519 | -€225 | -2.3% |
| Trade debts | 44 | €13,549 | €7,190 | -€6,359 | -46.9% |
| Suppliers | 440/4 | €13,549 | €7,190 | -€6,359 | -46.9% |
| Taxes, remuneration and social security | 45 | - | €148 | +€148 | |
| Taxes | 450/3 | - | €148 | +€148 | |
| Other amounts payable | 47/48 | €116,290 | €128,199 | +€11,910 | +10.2% |
| Non-recurring operating income | 76A | €3,873 | €7,647 | +€3,775 | +97.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,708 | €15,345 | -€7,363 | -32.4% |
| Other operating charges | 640/8 | €2,855 | €0 | -€2,855 | -100.0% |
| Gross operating margin | 9900 | €9,340 | €17,112 | +€7,771 | +83.2% |
| Operating profit (loss) | 9901 | -€16,222 | €1,767 | +€17,989 | |
| Financial income | 75/76B | €160 | €1 | -€159 | -99.5% |
| Recurring financial income | 75 | €160 | €1 | -€159 | -99.5% |
| Financial charges | 65/66B | €5,999 | €6,110 | +€111 | +1.8% |
| Recurring financial charges | 65 | €5,999 | €6,110 | +€111 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | -€22,061 | -€4,342 | +€17,719 | +80.3% |
| Income taxes | 67/77 | - | €0 | +€0 | |
| Profit (loss) for the period | 9904 | -€22,061 | -€4,342 | +€17,719 | +80.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,061 | -€4,342 | +€17,719 | +80.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.