Kremal: 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.
Kremal
Largest movements
- Tangible fixed assets -€17,610
down €17,610 (-17.3%), from €101,590 to €83,980
of which Other tangible fixed assets: -€18,523
- Cash +€2,492
up €2,492 (+8.3%), from €29,871 to €32,363
mainly Depreciation (+€22,590) and Trade debts (+€11,334)
- Debts after one year -€27,419
down €27,419 (-31.8%), from €86,191 to €58,773
- Trade debts +€11,334
up €11,334 (+43.7%), from €25,954 to €37,288
- Accrued charges and deferred income -€8,897
down €8,897 (-100.0%), from €8,897 to €0
- Tax, wage and social debts +€7,419
up €7,419 (+36.5%), from €20,348 to €27,767
of which Remuneration and social security: +€6,400
- Profit (loss) carried forward +€2,212
up €2,212 (+41.5%), from -€5,330 to -€3,119
- Staff costs +€48,758
up €48,758 (+33.0%), from €147,965 to €196,723
- Gross operating margin +€34,994
up €34,994 (+17.8%), from €196,136 to €231,130
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 | €179,937 | €164,332 | -€15,605 | -8.7% |
| Fixed assets | 21/28 | €113,950 | €93,870 | -€20,080 | -17.6% |
| Intangible fixed assets | 21 | €11,475 | €9,891 | -€1,585 | -13.8% |
| Tangible fixed assets | 22/27 | €101,590 | €83,980 | -€17,610 | -17.3% |
| Plant, machinery and equipment | 23 | €10,862 | €11,878 | +€1,016 | +9.4% |
| Furniture and vehicles | 24 | €103 | €0 | -€103 | -100.0% |
| Other tangible fixed assets | 26 | €90,625 | €72,101 | -€18,523 | -20.4% |
| Financial fixed assets | 28 | €885 | €0 | -€885 | -100.0% |
| Current assets | 29/58 | €65,987 | €70,462 | +€4,475 | +6.8% |
| Stocks and contracts in progress | 3 | €7,500 | €7,500 | = | 0.0% |
| Stocks | 30/36 | €7,500 | €7,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,286 | €29,376 | +€1,090 | +3.9% |
| Trade receivables | 40 | €3,057 | €3,168 | +€111 | +3.6% |
| Other amounts receivable | 41 | €25,229 | €26,208 | +€979 | +3.9% |
| Cash at bank and in hand | 54/58 | €29,871 | €32,363 | +€2,492 | +8.3% |
| Deferred charges and accrued income | 490/1 | €329 | €1,222 | +€893 | +271.3% |
| Total equity and liabilities | 10/49 | €179,937 | €164,332 | -€15,605 | -8.7% |
| Equity | 10/15 | €9,670 | €11,881 | +€2,212 | +22.9% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,330 | -€3,119 | +€2,212 | +41.5% |
| Amounts payable | 17/49 | €170,267 | €152,451 | -€17,816 | -10.5% |
| Amounts payable after more than one year | 17 | €86,191 | €58,773 | -€27,419 | -31.8% |
| Financial debts | 170/4 | €86,191 | €58,773 | -€27,419 | -31.8% |
| Amounts payable within one year | 42/48 | €75,179 | €93,678 | +€18,499 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €27,697 | €27,419 | -€278 | -1.0% |
| Financial debts | 43 | €1,181 | €1,204 | +€24 | +2.0% |
| Credit institutions | 430/8 | €1,181 | €1,204 | +€24 | +2.0% |
| Trade debts | 44 | €25,954 | €37,288 | +€11,334 | +43.7% |
| Suppliers | 440/4 | €25,954 | €37,288 | +€11,334 | +43.7% |
| Taxes, remuneration and social security | 45 | €20,348 | €27,767 | +€7,419 | +36.5% |
| Taxes | 450/3 | €13,754 | €14,773 | +€1,019 | +7.4% |
| Remuneration and social security | 454/9 | €6,594 | €12,994 | +€6,400 | +97.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €8,897 | €0 | -€8,897 | -100.0% |
| Remuneration, social security and pensions | 62 | €147,965 | €196,723 | +€48,758 | +33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,015 | €22,590 | -€426 | -1.8% |
| Other operating charges | 640/8 | €141 | €544 | +€403 | +287.1% |
| Gross operating margin | 9900 | €196,136 | €231,130 | +€34,994 | +17.8% |
| Operating profit (loss) | 9901 | €25,015 | €11,274 | -€13,741 | -54.9% |
| Financial income | 75/76B | €1 | €2 | +€1 | +81.3% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +81.3% |
| Financial charges | 65/66B | €7,876 | €9,065 | +€1,189 | +15.1% |
| Recurring financial charges | 65 | €7,876 | €9,065 | +€1,189 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | €17,140 | €2,212 | -€14,929 | -87.1% |
| Profit (loss) for the period | 9904 | €17,140 | €2,212 | -€14,929 | -87.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,140 | €2,212 | -€14,929 | -87.1% |
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.