KRATES: 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.
KRATES
Largest movements
- Receivables within one year +€98,615
up €98,615 (+31.5%), from €312,819 to €411,434
of which Other amounts receivable: +€98,615
- Tangible fixed assets -€40,010
down €40,010 (-13.5%), from €295,773 to €255,763
of which Land and buildings: -€20,725
- Reserves +€70,695
up €70,695 (+17.6%), from €400,612 to €471,307
of which Distributable reserves: +€70,695
- Tax, wage and social debts +€37,283
up €37,283 (+2029.3%), from €1,837 to €39,120
- Debts after one year -€27,104
down €27,104 (-14.8%), from €183,480 to €156,375
of which Financial debts: -€27,304
- Trade debts -€15,457
down €15,457 (-65.5%), from €23,585 to €8,128
- Gross operating margin +€78,094
up €78,094 (+106.5%), from €73,329 to €151,423
- Taxes +€29,097
up €29,097 (+290.0%), from €10,033 to €39,129
- Financial charges +€6,594
up €6,594 (+330.6%), from €1,995 to €8,589
- Financial income +€3,731
up €3,731 (+38.4%), from €9,713 to €13,444
- Depreciation -€2,106
down €2,106 (-4.8%), from €44,111 to €42,005
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 | €853,342 | €914,363 | +€61,021 | +7.2% |
| Fixed assets | 21/28 | €295,823 | €255,813 | -€40,010 | -13.5% |
| Tangible fixed assets | 22/27 | €295,773 | €255,763 | -€40,010 | -13.5% |
| Land and buildings | 22 | €197,439 | €176,714 | -€20,725 | -10.5% |
| Plant, machinery and equipment | 23 | €40,664 | €37,555 | -€3,110 | -7.6% |
| Furniture and vehicles | 24 | €57,669 | €41,495 | -€16,175 | -28.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €557,519 | €658,550 | +€101,031 | +18.1% |
| Amounts receivable within one year | 40/41 | €312,819 | €411,434 | +€98,615 | +31.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €312,819 | €411,434 | +€98,615 | +31.5% |
| Current investments | 50/53 | €169,018 | €165,887 | -€3,130 | -1.9% |
| Cash at bank and in hand | 54/58 | €7,255 | €11,558 | +€4,303 | +59.3% |
| Deferred charges and accrued income | 490/1 | €68,428 | €69,671 | +€1,243 | +1.8% |
| Total equity and liabilities | 10/49 | €853,342 | €914,363 | +€61,021 | +7.2% |
| Equity | 10/15 | €612,670 | €683,365 | +€70,695 | +11.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €400,612 | €471,307 | +€70,695 | +17.6% |
| 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 | €398,752 | €469,447 | +€70,695 | +17.7% |
| Profit (loss) carried forward | 14 | €205,859 | €205,859 | = | 0.0% |
| Amounts payable | 17/49 | €240,672 | €230,998 | -€9,674 | -4.0% |
| Amounts payable after more than one year | 17 | €183,480 | €156,375 | -€27,104 | -14.8% |
| Financial debts | 170/4 | €183,280 | €155,975 | -€27,304 | -14.9% |
| Other amounts payable | 178/9 | €200 | €400 | +€200 | +100.0% |
| Amounts payable within one year | 42/48 | €57,122 | €74,553 | +€17,430 | +30.5% |
| Current portion of amounts payable after more than one year | 42 | €31,700 | €27,304 | -€4,395 | -13.9% |
| Trade debts | 44 | €23,585 | €8,128 | -€15,457 | -65.5% |
| Suppliers | 440/4 | €23,585 | €8,128 | -€15,457 | -65.5% |
| Taxes, remuneration and social security | 45 | €1,837 | €39,120 | +€37,283 | +2029.3% |
| Taxes | 450/3 | €1,837 | €39,120 | +€37,283 | +2029.3% |
| Accrued charges and deferred income | 492/3 | €70 | €70 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,111 | €42,005 | -€2,106 | -4.8% |
| Other operating charges | 640/8 | €6,449 | €4,450 | -€1,999 | -31.0% |
| Gross operating margin | 9900 | €73,329 | €151,423 | +€78,094 | +106.5% |
| Operating profit (loss) | 9901 | €22,769 | €104,969 | +€82,200 | +361.0% |
| Financial income | 75/76B | €9,713 | €13,444 | +€3,731 | +38.4% |
| Recurring financial income | 75 | €9,713 | €13,444 | +€3,731 | +38.4% |
| Financial charges | 65/66B | €1,995 | €8,589 | +€6,594 | +330.6% |
| Recurring financial charges | 65 | €1,995 | €8,589 | +€6,594 | +330.6% |
| Profit (loss) for the period before taxes | 9903 | €30,487 | €109,825 | +€79,337 | +260.2% |
| Income taxes | 67/77 | €10,033 | €39,129 | +€29,097 | +290.0% |
| Profit (loss) for the period | 9904 | €20,455 | €70,695 | +€50,241 | +245.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,455 | €70,695 | +€50,241 | +245.6% |
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 5 October 2026 via checked.be.