Kezelberg: 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.
Kezelberg
Largest movements
- Tangible fixed assets +€285,179
up €285,179 (+177.2%), from €160,953 to €446,133
of which Land and buildings: +€311,690
- Current investments +€191,908
up €191,908 (+323.7%), from €59,292 to €251,200
- Cash -€189,190
down €189,190 (-92.2%), from €205,172 to €15,982
mainly Investment in fixed assets (net) (-€361,538) and Current investments (-€191,908)
- Receivables within one year +€38,958
up €38,958 (+3115.7%), from €1,250 to €40,208
of which Trade receivables: +€35,611
- Reserves +€233,785
up €233,785 (+58.8%), from €397,505 to €631,290
- Other debts +€68,440
up €68,440 (+18039.0%), from €379 to €68,819
- Financial income +€292,910
up €292,910 (+259235.4%), from €113 to €293,023
- Gross operating margin -€45,604
down €45,604 (-47.0%), from €97,000 to €51,396
- Depreciation +€43,442
up €43,442 (+132.0%), from €32,917 to €76,359
- Financial charges +€7,575
up €7,575 (+50333.7%), from €15 to €7,590
- Taxes -€1,590
down €1,590 (-6.2%), from €25,737 to €24,146
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 | €2,765,697 | €3,093,746 | +€328,050 | +11.9% |
| Fixed assets | 21/28 | €2,494,285 | €2,779,464 | +€285,179 | +11.4% |
| Tangible fixed assets | 22/27 | €160,953 | €446,133 | +€285,179 | +177.2% |
| Land and buildings | 22 | - | €311,690 | +€311,690 | |
| Plant, machinery and equipment | 23 | €6,788 | €4,860 | -€1,928 | -28.4% |
| Furniture and vehicles | 24 | €154,165 | €121,883 | -€32,282 | -20.9% |
| Other tangible fixed assets | 26 | - | €7,700 | +€7,700 | |
| Financial fixed assets | 28 | €2,333,331 | €2,333,331 | = | 0.0% |
| Current assets | 29/58 | €271,412 | €314,282 | +€42,870 | +15.8% |
| Amounts receivable within one year | 40/41 | €1,250 | €40,208 | +€38,958 | +3115.7% |
| Trade receivables | 40 | €1,248 | €36,860 | +€35,611 | +2853.3% |
| Other amounts receivable | 41 | €2 | €3,349 | +€3,347 | +146780.3% |
| Current investments | 50/53 | €59,292 | €251,200 | +€191,908 | +323.7% |
| Cash at bank and in hand | 54/58 | €205,172 | €15,982 | -€189,190 | -92.2% |
| Deferred charges and accrued income | 490/1 | €5,698 | €6,893 | +€1,195 | +21.0% |
| Total equity and liabilities | 10/49 | €2,765,697 | €3,093,746 | +€328,050 | +11.9% |
| Equity | 10/15 | €2,730,836 | €2,964,621 | +€233,785 | +8.6% |
| Contributions | 10/11 | €2,333,331 | €2,333,331 | = | 0.0% |
| Reserves | 13 | €397,505 | €631,290 | +€233,785 | +58.8% |
| Distributable reserves | 133 | €397,505 | €631,290 | +€233,785 | +58.8% |
| Amounts payable | 17/49 | €34,861 | €129,125 | +€94,265 | +270.4% |
| Amounts payable within one year | 42/48 | €34,861 | €127,986 | +€93,125 | +267.1% |
| Trade debts | 44 | €2,772 | €5,613 | +€2,841 | +102.5% |
| Suppliers | 440/4 | €2,772 | €5,613 | +€2,841 | +102.5% |
| Taxes, remuneration and social security | 45 | €31,710 | €53,553 | +€21,844 | +68.9% |
| Taxes | 450/3 | €31,710 | €53,553 | +€21,844 | +68.9% |
| Other amounts payable | 47/48 | €379 | €68,819 | +€68,440 | +18039.0% |
| Accrued charges and deferred income | 492/3 | - | €1,140 | +€1,140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,917 | €76,359 | +€43,442 | +132.0% |
| Other operating charges | 640/8 | €2,727 | €2,538 | -€189 | -6.9% |
| Gross operating margin | 9900 | €97,000 | €51,396 | -€45,604 | -47.0% |
| Operating profit (loss) | 9901 | €61,356 | -€27,501 | -€88,857 | |
| Financial income | 75/76B | €113 | €293,023 | +€292,910 | +259235.4% |
| Recurring financial income | 75 | €113 | €293,023 | +€292,910 | +259235.4% |
| Financial charges | 65/66B | €15 | €7,590 | +€7,575 | +50333.7% |
| Recurring financial charges | 65 | €15 | €7,590 | +€7,575 | +50333.7% |
| Profit (loss) for the period before taxes | 9903 | €61,454 | €257,931 | +€196,478 | +319.7% |
| Income taxes | 67/77 | €25,737 | €24,146 | -€1,590 | -6.2% |
| Profit (loss) for the period | 9904 | €35,717 | €233,785 | +€198,068 | +554.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,717 | €233,785 | +€198,068 | +554.6% |
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 1 October 2026 via checked.be.