KHEPRI: 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.
KHEPRI
Largest movements
- Stocks and contracts -€50,310
down €50,310 (-14.8%), from €340,369 to €290,059
- Deferred charges and accrued income +€10,019
up €10,019 (+203.8%), from €4,916 to €14,935
- Receivables within one year +€4,279
up €4,279 (+34.4%), from €12,425 to €16,704
of which Other amounts receivable: +€3,514
- Trade debts -€49,177
down €49,177 (-44.3%), from €110,973 to €61,796
- Debts after one year -€26,791
down €26,791 (-48.1%), from €55,662 to €28,871
- Current portion of long-term debt +€16,931
up €16,931 (+61.9%), from €27,365 to €44,296
- Reserves +€12,000
up €12,000 (+37.7%), from €31,860 to €43,860
of which Distributable reserves: +€12,000
- Tax, wage and social debts +€10,249
up €10,249 (+27.7%), from €36,972 to €47,221
of which Taxes: +€5,461
- Gross operating margin -€28,352
down €28,352 (-26.1%), from €108,437 to €80,085
- Taxes -€8,376
down €8,376 (-45.7%), from €18,311 to €9,935
- Staff costs -€6,503
down €6,503 (-14.2%), from €45,671 to €39,168
- Other operating charges +€5,047
up €5,047 (+169.0%), from €2,986 to €8,033
- Financial charges -€2,147
down €2,147 (-28.4%), from €7,555 to €5,408
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 | €373,518 | €340,326 | -€33,192 | -8.9% |
| Fixed assets | 21/28 | €3,344 | €3,224 | -€120 | -3.6% |
| Tangible fixed assets | 22/27 | €1,969 | €1,849 | -€120 | -6.1% |
| Furniture and vehicles | 24 | - | €948 | +€948 | |
| Other tangible fixed assets | 26 | €1,969 | €901 | -€1,068 | -54.2% |
| Financial fixed assets | 28 | €1,375 | €1,375 | = | 0.0% |
| Current assets | 29/58 | €370,174 | €337,102 | -€33,072 | -8.9% |
| Stocks and contracts in progress | 3 | €340,369 | €290,059 | -€50,310 | -14.8% |
| Stocks | 30/36 | €340,369 | €290,059 | -€50,310 | -14.8% |
| Amounts receivable within one year | 40/41 | €12,425 | €16,704 | +€4,279 | +34.4% |
| Trade receivables | 40 | €7,723 | €8,488 | +€765 | +9.9% |
| Other amounts receivable | 41 | €4,702 | €8,216 | +€3,514 | +74.7% |
| Cash at bank and in hand | 54/58 | €12,464 | €15,404 | +€2,940 | +23.6% |
| Deferred charges and accrued income | 490/1 | €4,916 | €14,935 | +€10,019 | +203.8% |
| Total equity and liabilities | 10/49 | €373,518 | €340,326 | -€33,192 | -8.9% |
| Equity | 10/15 | €81,661 | €97,509 | +€15,848 | +19.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,860 | €43,860 | +€12,000 | +37.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €42,000 | +€12,000 | +40.0% |
| Profit (loss) carried forward | 14 | €31,201 | €35,049 | +€3,848 | +12.3% |
| Amounts payable | 17/49 | €291,857 | €242,817 | -€49,040 | -16.8% |
| Amounts payable after more than one year | 17 | €55,662 | €28,871 | -€26,791 | -48.1% |
| Financial debts | 170/4 | €55,662 | €28,871 | -€26,791 | -48.1% |
| Amounts payable within one year | 42/48 | €236,195 | €213,946 | -€22,249 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €27,365 | €44,296 | +€16,931 | +61.9% |
| Trade debts | 44 | €110,973 | €61,796 | -€49,177 | -44.3% |
| Suppliers | 440/4 | €110,973 | €61,796 | -€49,177 | -44.3% |
| Taxes, remuneration and social security | 45 | €36,972 | €47,221 | +€10,249 | +27.7% |
| Taxes | 450/3 | €35,503 | €40,964 | +€5,461 | +15.4% |
| Remuneration and social security | 454/9 | €1,469 | €6,257 | +€4,788 | +325.9% |
| Other amounts payable | 47/48 | €60,885 | €60,633 | -€252 | -0.4% |
| Remuneration, social security and pensions | 62 | €45,671 | €39,168 | -€6,503 | -14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,648 | €1,780 | +€132 | +8.0% |
| Other operating charges | 640/8 | €2,986 | €8,033 | +€5,047 | +169.0% |
| Gross operating margin | 9900 | €108,437 | €80,085 | -€28,352 | -26.1% |
| Operating profit (loss) | 9901 | €58,132 | €31,104 | -€27,028 | -46.5% |
| Financial income | 75/76B | €81 | €87 | +€6 | +7.4% |
| Recurring financial income | 75 | €81 | €87 | +€6 | +7.4% |
| Financial charges | 65/66B | €7,555 | €5,408 | -€2,147 | -28.4% |
| Recurring financial charges | 65 | €7,555 | €5,408 | -€2,147 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €50,658 | €25,783 | -€24,875 | -49.1% |
| Income taxes | 67/77 | €18,311 | €9,935 | -€8,376 | -45.7% |
| Profit (loss) for the period | 9904 | €32,347 | €15,848 | -€16,499 | -51.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,347 | €15,848 | -€16,499 | -51.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.