KREMER ADVICE: what changed
Two financial 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.
KREMER ADVICE
Largest movements
- Current investments +€143,386
up €143,386 (+25.2%), from €570,000 to €713,386
- Cash -€42,744
down €42,744 (-13.5%), from €317,789 to €275,045
mainly Current investments (-€143,386) and Contributions, distributions and other (-€80,000)
- Receivables within one year -€25,009
down €25,009 (-90.1%), from €27,747 to €2,738
of which Trade receivables: -€19,577
- Tangible fixed assets -€11,997
down €11,997 (-7.6%), from €157,163 to €145,166
- Reserves +€56,000
up €56,000 (+10.2%), from €548,860 to €604,860
of which Distributable reserves: +€56,000
- Other debts +€50,222
up €50,222 (+28.8%), from €174,384 to €224,606
- Tax, wage and social debts -€43,029
down €43,029 (-82.1%), from €52,398 to €9,369
of which Taxes: -€32,278
- Staff costs -€90,664
down €90,664 (-85.3%), from €106,323 to €15,659
- Turnover +€56,463
new in 2025: €56,463
- Gross operating margin -€45,926
down €45,926 (-16.7%), from €274,466 to €228,540
- Taxes +€16,104
up €16,104 (+32.7%), from €49,223 to €65,327
- Financial charges +€3,867
up €3,867 (+94.7%), from €4,084 to €7,951
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.
Derived cash bridge
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 | €1,083,242 | €1,144,215 | +€60,973 | +5.6% |
| Fixed assets | 21/28 | €157,163 | €145,166 | -€11,997 | -7.6% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €157,163 | €145,166 | -€11,997 | -7.6% |
| Land and buildings | 22 | €145,766 | €140,019 | -€5,747 | -3.9% |
| Furniture and vehicles | 24 | €5,620 | €941 | -€4,679 | -83.3% |
| Other tangible fixed assets | 26 | €5,777 | €4,206 | -€1,571 | -27.2% |
| Current assets | 29/58 | €926,079 | €999,049 | +€72,970 | +7.9% |
| Amounts receivable within one year | 40/41 | €27,747 | €2,738 | -€25,009 | -90.1% |
| Trade receivables | 40 | €21,847 | €2,270 | -€19,577 | -89.6% |
| Other amounts receivable | 41 | €5,900 | €468 | -€5,432 | -92.1% |
| Current investments | 50/53 | €570,000 | €713,386 | +€143,386 | +25.2% |
| Cash at bank and in hand | 54/58 | €317,789 | €275,045 | -€42,744 | -13.5% |
| Deferred charges and accrued income | 490/1 | €10,543 | €7,880 | -€2,663 | -25.3% |
| Total equity and liabilities | 10/49 | €1,083,242 | €1,144,215 | +€60,973 | +5.6% |
| Equity | 10/15 | €852,104 | €909,147 | +€57,043 | +6.7% |
| Contributions | 10/11 | €126,208 | €126,208 | +€0 | 0.0% |
| Reserves | 13 | €548,860 | €604,860 | +€56,000 | +10.2% |
| Non-distributable reserves | 130/1 | €58,860 | €58,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €58,860 | €58,860 | = | 0.0% |
| Distributable reserves | 133 | €490,000 | €546,000 | +€56,000 | +11.4% |
| Profit (loss) carried forward | 14 | €177,036 | €178,079 | +€1,043 | +0.6% |
| Amounts payable | 17/49 | €231,138 | €235,068 | +€3,930 | +1.7% |
| Amounts payable within one year | 42/48 | €231,138 | €235,068 | +€3,930 | +1.7% |
| Trade debts | 44 | €4,356 | €1,093 | -€3,263 | -74.9% |
| Suppliers | 440/4 | €4,356 | €1,093 | -€3,263 | -74.9% |
| Taxes, remuneration and social security | 45 | €52,398 | €9,369 | -€43,029 | -82.1% |
| Taxes | 450/3 | €41,647 | €9,369 | -€32,278 | -77.5% |
| Remuneration and social security | 454/9 | €10,751 | - | -€10,751 | |
| Other amounts payable | 47/48 | €174,384 | €224,606 | +€50,222 | +28.8% |
| Turnover | 70 | - | €56,463 | +€56,463 | |
| Remuneration, social security and pensions | 62 | €106,323 | €15,659 | -€90,664 | -85.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,244 | €11,997 | -€247 | -2.0% |
| Other operating charges | 640/8 | €5,296 | €5,328 | +€32 | +0.6% |
| Gross operating margin | 9900 | €274,466 | €228,540 | -€45,926 | -16.7% |
| Operating profit (loss) | 9901 | €150,604 | €195,556 | +€44,952 | +29.8% |
| Financial income | 75/76B | €17,066 | €14,765 | -€2,301 | -13.5% |
| Recurring financial income | 75 | €17,066 | €14,765 | -€2,301 | -13.5% |
| Financial charges | 65/66B | €4,084 | €7,951 | +€3,867 | +94.7% |
| Recurring financial charges | 65 | €4,084 | €7,951 | +€3,867 | +94.7% |
| Profit (loss) for the period before taxes | 9903 | €163,586 | €202,370 | +€38,784 | +23.7% |
| Income taxes | 67/77 | €49,223 | €65,327 | +€16,104 | +32.7% |
| Profit (loss) for the period | 9904 | €114,364 | €137,043 | +€22,679 | +19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €114,364 | €137,043 | +€22,679 | +19.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.