KERUMA: 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.
KERUMA
Largest movements
- Receivables within one year +€25,783
up €25,783 (+53.4%), from €48,307 to €74,089
of which Other amounts receivable: +€22,883
- Cash -€11,914
down €11,914 (-70.6%), from €16,872 to €4,959
mainly Receivables within one year (-€25,783) and Short-term financial debts (-€6,676)
- Tangible fixed assets -€1,686
down €1,686 (-16.6%), from €10,177 to €8,492
- Reserves +€26,933
new in 2025: €26,933
- Profit (loss) carried forward +€7,217
up €7,217, from -€7,217 to €0
- Short-term financial debts -€6,676
down €6,676 (-23.5%), from €28,400 to €21,724
- Tax, wage and social debts -€5,875
down €5,875 (-67.9%), from €8,654 to €2,779
- Debts after one year -€5,046
down €5,046 (-100%), from €5,046 to €0
- Gross operating margin +€84,486
up €84,486, from -€39,345 to €45,141
- Taxes -€6,966
down €6,966 (-100%), from €6,966 to €0
- Financial charges +€4,394
up €4,394 (+94.3%), from €4,662 to €9,056
- Financial income +€3,019
up €3,019 (+431,279%), from €1 to €3,020
- Other operating charges +€2,310
up €2,310 (+241%), from €959 to €3,269
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 | €84,314 | €95,987 | +€11,674 | +13.8% |
| Fixed assets | 21/28 | €10,177 | €8,492 | -€1,686 | -16.6% |
| Tangible fixed assets | 22/27 | €10,177 | €8,492 | -€1,686 | -16.6% |
| Plant, machinery and equipment | 23 | €10,177 | €8,492 | -€1,686 | -16.6% |
| Current assets | 29/58 | €74,136 | €87,495 | +€13,359 | +18.0% |
| Stocks and contracts in progress | 3 | €8,957 | €8,447 | -€510 | -5.7% |
| Stocks | 30/36 | €8,957 | €8,447 | -€510 | -5.7% |
| Amounts receivable within one year | 40/41 | €48,307 | €74,089 | +€25,783 | +53.4% |
| Trade receivables | 40 | €1,524 | €4,424 | +€2,900 | +190% |
| Other amounts receivable | 41 | €46,783 | €69,666 | +€22,883 | +48.9% |
| Cash at bank and in hand | 54/58 | €16,872 | €4,959 | -€11,914 | -70.6% |
| Total equity and liabilities | 10/49 | €84,314 | €95,987 | +€11,674 | +13.8% |
| Equity | 10/15 | €11,375 | €45,525 | +€34,149 | +300% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | - | €26,933 | +€26,933 | |
| Distributable reserves | 133 | - | €26,933 | +€26,933 | |
| Profit (loss) carried forward | 14 | -€7,217 | €0 | +€7,217 | |
| Amounts payable | 17/49 | €72,938 | €50,463 | -€22,476 | -30.8% |
| Amounts payable after more than one year | 17 | €5,046 | €0 | -€5,046 | -100% |
| Financial debts | 170/4 | €5,046 | €0 | -€5,046 | -100% |
| Amounts payable within one year | 42/48 | €67,892 | €50,463 | -€17,430 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €7,034 | €5,046 | -€1,988 | -28.3% |
| Financial debts | 43 | €28,400 | €21,724 | -€6,676 | -23.5% |
| Credit institutions | 430/8 | €28,400 | €21,724 | -€6,676 | -23.5% |
| Trade debts | 44 | €23,805 | €20,914 | -€2,891 | -12.1% |
| Suppliers | 440/4 | €23,805 | €20,914 | -€2,891 | -12.1% |
| Taxes, remuneration and social security | 45 | €8,654 | €2,779 | -€5,875 | -67.9% |
| Taxes | 450/3 | €8,654 | €2,779 | -€5,875 | -67.9% |
| Non-recurring operating income | 76A | - | €6,020 | +€6,020 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,090 | €1,686 | -€405 | -19.4% |
| Other operating charges | 640/8 | €959 | €3,269 | +€2,310 | +241% |
| Gross operating margin | 9900 | -€39,345 | €45,141 | +€84,486 | |
| Operating profit (loss) | 9901 | -€42,394 | €40,186 | +€82,580 | |
| Financial income | 75/76B | €1 | €3,020 | +€3,019 | +431,279% |
| Recurring financial income | 75 | €1 | €3,020 | +€3,019 | +431,279% |
| Financial charges | 65/66B | €4,662 | €9,056 | +€4,394 | +94.3% |
| Recurring financial charges | 65 | €4,662 | €9,056 | +€4,394 | +94.3% |
| Profit (loss) for the period before taxes | 9903 | -€47,056 | €34,149 | +€81,205 | |
| Income taxes | 67/77 | €6,966 | €0 | -€6,966 | -100% |
| Profit (loss) for the period | 9904 | -€54,022 | €34,149 | +€88,171 | |
| Profit (loss) for the period to be appropriated | 9905 | -€54,022 | €34,149 | +€88,171 |
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 21 October 2026 via checked.be.