KETHER: 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.
KETHER
Largest movements
- Cash +€8,894
up €8,894 (+28.1%), from €31,678 to €40,572
mainly Net result for the year (+€7,884) and Depreciation (+€5,254)
- Receivables within one year +€5,328
up €5,328 (+1,111%), from €480 to €5,808
of which Trade receivables: +€5,808
- Deferred charges and accrued income -€1,907
no longer reported in 2025 (was €1,907)
- Tangible fixed assets -€1,714
down €1,714 (-16.9%), from €10,154 to €8,440
of which Furniture and vehicles: -€920
- Profit (loss) carried forward +€7,884
up €7,884 (+47.0%), from -€16,784 to -€8,901
- Tax, wage and social debts +€3,481
up €3,481 (+28.2%), from €12,366 to €15,848
of which Remuneration and social security: +€3,052
- Gross operating margin +€9,510
up €9,510 (+12.7%), from €75,107 to €84,617
- Staff costs +€5,136
up €5,136 (+7.6%), from €67,629 to €72,765
- Financial income +€2,152
new in 2025: €2,152
- Depreciation +€885
up €885 (+20.3%), from €4,369 to €5,254
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 | €44,601 | €55,202 | +€10,601 | +23.8% |
| Fixed assets | 21/28 | €10,536 | €8,822 | -€1,714 | -16.3% |
| Tangible fixed assets | 22/27 | €10,154 | €8,440 | -€1,714 | -16.9% |
| Furniture and vehicles | 24 | €3,910 | €2,990 | -€920 | -23.5% |
| Other tangible fixed assets | 26 | €6,244 | €5,450 | -€794 | -12.7% |
| Financial fixed assets | 28 | €382 | €382 | = | 0.0% |
| Current assets | 29/58 | €34,065 | €46,380 | +€12,315 | +36.2% |
| Amounts receivable within one year | 40/41 | €480 | €5,808 | +€5,328 | +1,111% |
| Trade receivables | 40 | - | €5,808 | +€5,808 | |
| Other amounts receivable | 41 | €480 | - | -€480 | |
| Cash at bank and in hand | 54/58 | €31,678 | €40,572 | +€8,894 | +28.1% |
| Deferred charges and accrued income | 490/1 | €1,907 | - | -€1,907 | |
| Total equity and liabilities | 10/49 | €44,601 | €55,202 | +€10,601 | +23.8% |
| Equity | 10/15 | €29,095 | €36,979 | +€7,884 | +27.1% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €33,485 | €33,485 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,154 | €4,154 | = | 0.0% |
| Distributable reserves | 133 | €29,331 | €29,331 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,784 | -€8,901 | +€7,884 | +47.0% |
| Amounts payable | 17/49 | €15,506 | €18,223 | +€2,718 | +17.5% |
| Amounts payable within one year | 42/48 | €15,506 | €18,223 | +€2,718 | +17.5% |
| Trade debts | 44 | €2,802 | €2,376 | -€427 | -15.2% |
| Suppliers | 440/4 | €2,802 | €2,376 | -€427 | -15.2% |
| Taxes, remuneration and social security | 45 | €12,366 | €15,848 | +€3,481 | +28.2% |
| Taxes | 450/3 | €5,390 | €5,819 | +€429 | +8.0% |
| Remuneration and social security | 454/9 | €6,976 | €10,028 | +€3,052 | +43.7% |
| Other amounts payable | 47/48 | €337 | - | -€337 | |
| Remuneration, social security and pensions | 62 | €67,629 | €72,765 | +€5,136 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,369 | €5,254 | +€885 | +20.3% |
| Other operating charges | 640/8 | €662 | €751 | +€89 | +13.4% |
| Gross operating margin | 9900 | €75,107 | €84,617 | +€9,510 | +12.7% |
| Operating profit (loss) | 9901 | €2,446 | €5,847 | +€3,400 | +139% |
| Financial income | 75/76B | - | €2,152 | +€2,152 | |
| Recurring financial income | 75 | - | €2,152 | +€2,152 | |
| Financial charges | 65/66B | €249 | - | -€249 | |
| Recurring financial charges | 65 | €249 | - | -€249 | |
| Profit (loss) for the period before taxes | 9903 | €2,198 | €7,999 | +€5,801 | +264% |
| Income taxes | 67/77 | €132 | €115 | -€16 | -12.5% |
| Profit (loss) for the period | 9904 | €2,066 | €7,884 | +€5,817 | +282% |
| Profit (loss) for the period to be appropriated | 9905 | €2,066 | €7,884 | +€5,817 | +282% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.