Krëfel: 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.
What changed
Krëfel
NACE 47.540, Retail sale of electrical household appliances
fiscal year 31-12-2024 against 31-12-2025filed annual accounts (NBB)
Net result for the year
-€18.9m
31-12-2024 · -€29.3m+€10.5m
Equity
-€14.8m
31-12-2024 · €4.1m-€18.9m
Cash
€2.7m
31-12-2024 · €9.0m-€6.2m
Balance sheet total
€145.8m
31-12-2024 · €149.6m-€3.8m
Largest movements
Assets
- Cash -€6.2m
down €6.2m (-69.5%), from €9.0m to €2.7m
mainly Net result for the year (-€18.9m) and Tax, wage and social debts (-€7.4m)
- Receivables within one year +€4.1m
up €4.1m (+12.7%), from €32.5m to €36.7m
of which Trade receivables: +€4.1m
- Tangible fixed assets -€3.0m
down €3.0m (-22.8%), from €13.0m to €10.0m
of which Other tangible fixed assets: -€2.0m
Equity and liabilities
- Trade debts +€20.0m
up €20.0m (+42.0%), from €47.6m to €67.6m
- Profit (loss) carried forward -€18.4m
down €18.4m (-39.8%), from -€46.3m to -€64.8m
- Tax, wage and social debts -€7.4m
down €7.4m (-40.7%), from €18.3m to €10.8m
of which Taxes: -€4.1m
- Other debts +€3.4m
up €3.4m (+4.8%), from €69.7m to €73.0m
- Advances received -€1.5m
down €1.5m (-26.5%), from €5.8m to €4.3m
Income statement
- Other operating income -€35.3m
down €35.3m (-88.3%), from €40.0m to €4.7m
- Turnover +€19.2m
up €19.2m (+4.4%), from €432.7m to €451.9m
- Goods and materials -€8.5m
down €8.5m (-2.4%), from €354.8m to €346.3m
of which Purchases: -€5.7m
- Staff costs -€7.7m
down €7.7m (-11.2%), from €68.3m to €60.7m
- Services and other goods -€6.9m
down €6.9m (-10.3%), from €66.4m to €59.6m
From the 31-12-2024 result to the 31-12-2025 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.
Result 31-12-2024
-€29.3m
Turnover
+€19.2m
Other operating income
-€35.3m
Goods and materials
+€8.5m
Services and other goods
+€6.9m
Staff costs
+€7.7m
Depreciation
+€468,500
Write-downs
-€377,487
Provisions
+€701,576
Other operating charges
+€380,711
Other operating items
+€2.2m
Financial income
-€905,038
Financial charges
+€1.1m
Taxes
+€19,292
Deferred taxes and other
-€42,266
Result 31-12-2025
-€18.9m
Cash bridge derived
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€5.1m
Investment
-€750,482
Financing
-€391,267
Cash 31-12-2024
€9.0m
From operations (derived)
-€5.1m
Net result for the year
-€18.9m
Depreciation
+€4.7m
Stocks and contracts
-€1.3m
Receivables within one year
-€4.1m
Deferred charges and accrued income
-€952,428
Provisions
+€276,033
Trade debts
+€20.0m
Tax, wage and social debts
-€7.4m
Advances received
-€1.5m
Other debts
+€3.4m
Accrued charges and deferred income
+€824,876
Investment (derived)
-€750,482
Investment in fixed assets (net)
-€750,482
Financing
-€391,267
Debts after one year
-€118,302
Current portion of long-term debt
-€272,965
Cash 31-12-2025
€2.7m
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €149,566,480 | €145,798,969 | -€3.8m | -2.5% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €19,421,517 | €15,455,704 | -€4.0m | -20.4% |
| Intangible fixed assets | 21 | €3,339,626 | €2,683,752 | -€655,874 | -19.6% |
| Tangible fixed assets | 22/27 | €12,959,747 | €9,999,007 | -€3.0m | -22.8% |
| Land and buildings | 22 | €1,434,401 | €1,399,897 | -€34,505 | -2.4% |
| Plant, machinery and equipment | 23 | €2,066,803 | €1,674,111 | -€392,692 | -19.0% |
| Furniture and vehicles | 24 | €169,998 | €157,176 | -€12,822 | -7.5% |
| Leasing and similar rights | 25 | €1,148,083 | €641,741 | -€506,342 | -44.1% |
| Other tangible fixed assets | 26 | €8,140,461 | €6,100,841 | -€2.0m | -25.1% |
| Assets under construction and advance payments | 27 | - | €25,241 | +€25,241 | |
| Financial fixed assets | 28 | €3,122,144 | €2,772,945 | -€349,200 | -11.2% |
| Affiliated companies | 280/1 | €3,098,951 | €2,749,986 | -€348,965 | -11.3% |
| Participating interests | 280 | €3,098,951 | €2,749,986 | -€348,965 | -11.3% |
| Other financial fixed assets | 284/8 | €23,193 | €22,958 | -€235 | -1.0% |
| Amounts receivable and cash guarantees | 285/8 | €23,193 | €22,958 | -€235 | -1.0% |
| Current assets | 29/58 | €130,144,962 | €130,343,266 | +€198,303 | +0.2% |
| Stocks and contracts in progress | 3 | €86,637,895 | €87,963,930 | +€1.3m | +1.5% |
| Stocks | 30/36 | €86,637,895 | €87,963,930 | +€1.3m | +1.5% |
| Raw materials and consumables | 30/31 | €155,695 | €167,766 | +€12,071 | +7.8% |
| Goods purchased for resale | 34 | €86,482,200 | €87,796,164 | +€1.3m | +1.5% |
| Amounts receivable within one year | 40/41 | €32,545,001 | €36,687,178 | +€4.1m | +12.7% |
| Trade receivables | 40 | €30,675,189 | €34,739,556 | +€4.1m | +13.2% |
| Other amounts receivable | 41 | €1,869,812 | €1,947,622 | +€77,810 | +4.2% |
| Cash at bank and in hand | 54/58 | €8,953,346 | €2,731,009 | -€6.2m | -69.5% |
| Deferred charges and accrued income | 490/1 | €2,008,720 | €2,961,148 | +€952,428 | +47.4% |
| Total equity and liabilities | 10/49 | €149,566,480 | €145,798,969 | -€3.8m | -2.5% |
| Equity | 10/15 | €4,110,962 | -€14,762,530 | -€18.9m | |
| Contributions | 10/11 | €5,300,000 | €5,300,000 | = | 0.0% |
| Capital | 10 | €5,300,000 | €5,300,000 | = | 0.0% |
| Issued capital | 100 | €5,300,000 | €5,300,000 | = | 0.0% |
| Reserves | 13 | €45,140,618 | €44,698,231 | -€442,387 | -1.0% |
| Non-distributable reserves | 130/1 | €530,000 | €530,000 | = | 0.0% |
| Legal reserve | 130 | €530,000 | €530,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,210,618 | €1,768,231 | -€442,387 | -20.0% |
| Distributable reserves | 133 | €42,400,000 | €42,400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,329,655 | -€64,760,760 | -€18.4m | -39.8% |
| Provisions and deferred taxes | 16 | €2,723,065 | €2,999,099 | +€276,033 | +10.1% |
| Provisions for liabilities and charges | 160/5 | €2,050,291 | €2,473,787 | +€423,496 | +20.7% |
| Other liabilities and charges | 164/5 | €2,050,291 | €2,473,787 | +€423,496 | +20.7% |
| Deferred taxes | 168 | €672,774 | €525,312 | -€147,462 | -21.9% |
| Amounts payable | 17/49 | €142,732,452 | €157,562,400 | +€14.8m | +10.4% |
| Amounts payable after more than one year | 17 | €133,038 | €14,736 | -€118,302 | -88.9% |
| Financial debts | 170/4 | €133,038 | €14,736 | -€118,302 | -88.9% |
| Leasing and similar obligations | 172 | €133,038 | €14,736 | -€118,302 | -88.9% |
| Amounts payable within one year | 42/48 | €141,757,421 | €155,880,795 | +€14.1m | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €391,267 | €118,302 | -€272,965 | -69.8% |
| Trade debts | 44 | €47,625,508 | €67,623,220 | +€20.0m | +42.0% |
| Suppliers | 440/4 | €47,625,508 | €67,623,220 | +€20.0m | +42.0% |
| Advances received on contracts in progress | 46 | €5,807,173 | €4,266,104 | -€1.5m | -26.5% |
| Taxes, remuneration and social security | 45 | €18,250,772 | €10,825,822 | -€7.4m | -40.7% |
| Taxes | 450/3 | €5,604,734 | €1,529,561 | -€4.1m | -72.7% |
| Remuneration and social security | 454/9 | €12,646,038 | €9,296,262 | -€3.3m | -26.5% |
| Other amounts payable | 47/48 | €69,682,702 | €73,047,346 | +€3.4m | +4.8% |
| Accrued charges and deferred income | 492/3 | €841,994 | €1,666,870 | +€824,876 | +98.0% |
| Operating income | 70/76A | €472,841,039 | €456,836,961 | -€16.0m | -3.4% |
| Turnover | 70 | €432,669,088 | €451,913,832 | +€19.2m | +4.4% |
| Other operating income | 74 | €39,962,441 | €4,660,052 | -€35.3m | -88.3% |
| Non-recurring operating income | 76A | €209,510 | €263,076 | +€53,566 | +25.6% |
| Operating charges | 60/66A | €499,526,741 | €473,222,862 | -€26.3m | -5.3% |
| Goods for resale, raw materials and consumables | 60 | €354,750,253 | €346,269,791 | -€8.5m | -2.4% |
| Purchases | 600/8 | €352,816,640 | €347,147,275 | -€5.7m | -1.6% |
| Change in stocks: decrease (increase) | 609 | €1,933,613 | -€877,484 | -€2.8m | |
| Services and other goods | 61 | €66,437,733 | €59,573,074 | -€6.9m | -10.3% |
| Remuneration, social security and pensions | 62 | €68,330,951 | €60,665,281 | -€7.7m | -11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,184,794 | €4,716,295 | -€468,500 | -9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€827,079 | -€449,592 | +€377,487 | +45.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €488,471 | -€213,104 | -€701,576 | |
| Other operating charges | 640/8 | €1,408,605 | €1,027,894 | -€380,711 | -27.0% |
| Non-recurring operating charges | 66A | €3,753,013 | €1,633,224 | -€2.1m | -56.5% |
| Operating profit (loss) | 9901 | -€26,685,702 | -€16,385,901 | +€10.3m | +38.6% |
| Financial income | 75/76B | €3,144,366 | €2,239,328 | -€905,038 | -28.8% |
| Recurring financial income | 75 | €3,144,366 | €2,181,663 | -€962,703 | -30.6% |
| Income from current assets | 751 | €81 | - | -€81 | |
| Other financial income | 752/9 | €3,144,285 | €2,181,663 | -€962,621 | -30.6% |
| Non-recurring financial income | 76B | - | €57,664 | +€57,664 | |
| Financial charges | 65/66B | €5,940,019 | €4,844,375 | -€1.1m | -18.4% |
| Recurring financial charges | 65 | €4,943,814 | €4,783,350 | -€160,464 | -3.2% |
| Debt charges | 650 | €2,901,466 | €2,218,618 | -€682,848 | -23.5% |
| Other financial charges | 652/9 | €2,042,348 | €2,564,731 | +€522,383 | +25.6% |
| Non-recurring financial charges | 66B | €996,205 | €61,026 | -€935,180 | -93.9% |
| Profit (loss) for the period before taxes | 9903 | -€29,481,356 | -€18,990,949 | +€10.5m | +35.6% |
| Transfer from deferred taxes | 780 | €189,728 | €147,462 | -€42,266 | -22.3% |
| Income taxes | 67/77 | €49,297 | €30,005 | -€19,292 | -39.1% |
| Taxes | 670/3 | €49,297 | €40,000 | -€9,297 | -18.9% |
| Tax adjustments and reversals of tax provisions | 77 | - | €9,995 | +€9,995 | |
| Profit (loss) for the period | 9904 | -€29,340,925 | -€18,873,492 | +€10.5m | +35.7% |
| Transfer from tax-exempt reserves | 789 | €569,184 | €442,387 | -€126,797 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,771,741 | -€18,431,105 | +€10.3m | +35.9% |
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 6 October 2026 via checked.be.