KETTLEWELL: 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.
KETTLEWELL
Largest movements
- Tangible fixed assets -€25,508
down €25,508 (-5.4%), from €475,628 to €450,120
of which Land and buildings: -€23,261
- Cash +€8,987
up €8,987 (+28.4%), from €31,685 to €40,672
mainly Net result for the year (+€71,880) and Depreciation (+€25,508)
- Profit (loss) carried forward -€28,120
down €28,120 (-77.9%), from €36,108 to €7,987
- Debts after one year -€17,646
down €17,646 (-5.0%), from €355,957 to €338,311
- Tax, wage and social debts +€13,668
up €13,668 (+189.2%), from €7,224 to €20,892
- Other debts +€12,054
up €12,054 (+14.6%), from €82,701 to €94,755
- Gross operating margin +€19,795
up €19,795 (+17.5%), from €112,935 to €132,729
- Taxes +€8,669
up €8,669 (+56.5%), from €15,331 to €24,000
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.
Cash bridge derived
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 | €512,247 | €491,291 | -€20,956 | -4.1% |
| Fixed assets | 21/28 | €475,628 | €450,120 | -€25,508 | -5.4% |
| Tangible fixed assets | 22/27 | €475,628 | €450,120 | -€25,508 | -5.4% |
| Land and buildings | 22 | €462,769 | €439,508 | -€23,261 | -5.0% |
| Furniture and vehicles | 24 | €3,265 | €2,152 | -€1,113 | -34.1% |
| Other tangible fixed assets | 26 | €9,595 | €8,460 | -€1,134 | -11.8% |
| Current assets | 29/58 | €36,618 | €41,170 | +€4,552 | +12.4% |
| Amounts receivable within one year | 40/41 | €4,933 | €498 | -€4,435 | -89.9% |
| Trade receivables | 40 | €1,764 | €498 | -€1,266 | -71.8% |
| Other amounts receivable | 41 | €3,169 | - | -€3,169 | |
| Cash at bank and in hand | 54/58 | €31,685 | €40,672 | +€8,987 | +28.4% |
| Total equity and liabilities | 10/49 | €512,247 | €491,291 | -€20,956 | -4.1% |
| Equity | 10/15 | €41,108 | €12,987 | -€28,120 | -68.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,108 | €7,987 | -€28,120 | -77.9% |
| Amounts payable | 17/49 | €471,139 | €478,303 | +€7,164 | +1.5% |
| Amounts payable after more than one year | 17 | €355,957 | €338,311 | -€17,646 | -5.0% |
| Financial debts | 170/4 | €355,957 | €338,311 | -€17,646 | -5.0% |
| Amounts payable within one year | 42/48 | €115,182 | €139,992 | +€24,811 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €23,024 | €23,946 | +€922 | +4.0% |
| Trade debts | 44 | €2,233 | €400 | -€1,833 | -82.1% |
| Suppliers | 440/4 | €2,233 | €400 | -€1,833 | -82.1% |
| Taxes, remuneration and social security | 45 | €7,224 | €20,892 | +€13,668 | +189.2% |
| Taxes | 450/3 | €7,224 | €20,892 | +€13,668 | +189.2% |
| Other amounts payable | 47/48 | €82,701 | €94,755 | +€12,054 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,663 | €25,508 | -€155 | -0.6% |
| Other operating charges | 640/8 | €2,663 | €2,758 | +€95 | +3.6% |
| Gross operating margin | 9900 | €112,935 | €132,729 | +€19,795 | +17.5% |
| Operating profit (loss) | 9901 | €84,610 | €104,464 | +€19,854 | +23.5% |
| Financial income | 75/76B | - | €282 | +€282 | |
| Recurring financial income | 75 | - | €282 | +€282 | |
| Financial charges | 65/66B | €8,357 | €8,866 | +€509 | +6.1% |
| Recurring financial charges | 65 | €8,357 | €8,866 | +€509 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €76,253 | €95,880 | +€19,627 | +25.7% |
| Income taxes | 67/77 | €15,331 | €24,000 | +€8,669 | +56.5% |
| Profit (loss) for the period | 9904 | €60,922 | €71,880 | +€10,958 | +18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €60,922 | €71,880 | +€10,958 | +18.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.