KREON: 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
KREON
NACE 46.474, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1.7m
2024 · €38,569-€1.8m
Equity
€12.1m
2024 · €13.8m-€1.7m
Cash
€153,444
2024 · €155,699-€2,255
Balance sheet total
€38.6m
2024 · €33.1m+€5.5m
Largest movements
Assets
- Receivables within one year +€5.5m
up €5.5m (+61.9%), from €8.9m to €14.4m
of which Trade receivables: +€4.1m
- Receivables after one year -€800,000
no longer reported in 2025 (was €800,000)
Equity and liabilities
- Debts after one year +€7.8m
up €7.8m (+346.7%), from €2.3m to €10.1m
- Other debts -€3.2m
down €3.2m (-47.9%), from €6.6m to €3.4m
- Trade debts +€2.0m
up €2.0m (+52.8%), from €3.7m to €5.7m
- Profit (loss) carried forward -€1.7m
down €1.7m (-85.8%), from -€2.0m to -€3.8m
Income statement
- Financial income -€3.5m
down €3.5m (-43.4%), from €8.2m to €4.6m
of which Non-recurring financial income: -€4.3m
- Financial charges -€3.4m
down €3.4m (-84.1%), from €4.1m to €646,570
of which Non-recurring financial charges: -€3.5m
- Turnover -€2.2m
down €2.2m (-11.0%), from €20.3m to €18.1m
- Goods and materials -€460,038
down €460,038 (-4.7%), from €9.7m to €9.3m
of which Change in stocks: decrease (increase): -€458,292
- Services and other goods -€437,977
down €437,977 (-4.7%), from €9.3m to €8.8m
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.
Result 2024
€38,569
Turnover
-€2.2m
Other operating income
-€110,010
Goods and materials
+€460,038
Services and other goods
+€437,977
Staff costs
-€91,269
Depreciation
+€64,798
Write-downs
+€25,202
Other operating charges
-€19,630
Other operating items
-€199,154
Financial income
-€3.5m
Financial charges
+€3.4m
Taxes
+€17,904
Result 2025
-€1.7m
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.
From operations
-€6.7m
Investment
-€1.1m
Financing
+€7.8m
Cash 2024
€155,699
From operations (derived)
-€6.7m
Net result for the year
-€1.7m
Depreciation
+€671,218
Receivables after one year
+€800,000
Stocks and contracts
-€346,087
Receivables within one year
-€5.5m
Deferred charges and accrued income
-€7,234
Trade debts
+€2.0m
Tax, wage and social debts
+€280,476
Advances received
+€226,700
Other debts
-€3.2m
Accrued charges and deferred income
+€96,753
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Financing
+€7.8m
Debts after one year
+€7.8m
Short-term financial debts
-€3,000
Cash 2025
€153,444
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,110,331 | €38,564,270 | +€5.5m | +16.5% |
| Formation expenses | 20 | - | €362,816 | +€362,816 | |
| Fixed assets | 21/28 | €18,191,355 | €18,229,387 | +€38,032 | +0.2% |
| Intangible fixed assets | 21 | €93,895 | €63,927 | -€29,969 | -31.9% |
| Tangible fixed assets | 22/27 | €9,208,570 | €9,207,776 | -€794 | 0.0% |
| Land and buildings | 22 | €7,946,702 | €7,593,416 | -€353,286 | -4.4% |
| Plant, machinery and equipment | 23 | €897,915 | €769,070 | -€128,846 | -14.3% |
| Furniture and vehicles | 24 | €112,596 | €82,638 | -€29,958 | -26.6% |
| Assets under construction and advance payments | 27 | €251,357 | €762,653 | +€511,296 | +203.4% |
| Financial fixed assets | 28 | €8,888,889 | €8,957,684 | +€68,795 | +0.8% |
| Affiliated companies | 280/1 | €8,879,649 | €8,948,444 | +€68,795 | +0.8% |
| Participating interests | 280 | €8,877,865 | €8,877,865 | = | 0.0% |
| Amounts receivable | 281 | €1,784 | €70,579 | +€68,795 | +3857.2% |
| Other financial fixed assets | 284/8 | €9,240 | €9,240 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €9,240 | €9,240 | = | 0.0% |
| Current assets | 29/58 | €14,918,976 | €19,972,068 | +€5.1m | +33.9% |
| Amounts receivable after more than one year | 29 | €800,000 | - | -€800,000 | |
| Trade receivables | 290 | €800,000 | - | -€800,000 | |
| Stocks and contracts in progress | 3 | €4,722,300 | €5,068,387 | +€346,087 | +7.3% |
| Stocks | 30/36 | €4,722,300 | €5,068,387 | +€346,087 | +7.3% |
| Raw materials and consumables | 30/31 | €3,120,160 | €3,203,725 | +€83,565 | +2.7% |
| Work in progress | 32 | €449,833 | €466,168 | +€16,336 | +3.6% |
| Finished goods | 33 | €1,152,307 | €1,398,493 | +€246,186 | +21.4% |
| Amounts receivable within one year | 40/41 | €8,885,411 | €14,387,437 | +€5.5m | +61.9% |
| Trade receivables | 40 | €7,175,485 | €11,302,302 | +€4.1m | +57.5% |
| Other amounts receivable | 41 | €1,709,926 | €3,085,135 | +€1.4m | +80.4% |
| Cash at bank and in hand | 54/58 | €155,699 | €153,444 | -€2,255 | -1.4% |
| Deferred charges and accrued income | 490/1 | €355,567 | €362,801 | +€7,234 | +2.0% |
| Total equity and liabilities | 10/49 | €33,110,331 | €38,564,270 | +€5.5m | +16.5% |
| Equity | 10/15 | €13,837,937 | €12,091,155 | -€1.7m | -12.6% |
| Contributions | 10/11 | €15,160,000 | €15,160,000 | = | 0.0% |
| Capital | 10 | €15,160,000 | €15,160,000 | = | 0.0% |
| Issued capital | 100 | €15,160,000 | €15,160,000 | = | 0.0% |
| Reserves | 13 | €714,726 | €714,726 | = | 0.0% |
| Non-distributable reserves | 130/1 | €292,042 | €292,042 | = | 0.0% |
| Legal reserve | 130 | €292,042 | €292,042 | = | 0.0% |
| Distributable reserves | 133 | €422,684 | €422,684 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,036,789 | -€3,783,571 | -€1.7m | -85.8% |
| Amounts payable | 17/49 | €19,272,394 | €26,473,115 | +€7.2m | +37.4% |
| Amounts payable after more than one year | 17 | €2,250,000 | €10,050,000 | +€7.8m | +346.7% |
| Financial debts | 170/4 | €2,250,000 | €10,050,000 | +€7.8m | +346.7% |
| Other loans | 174 | €2,250,000 | €10,050,000 | +€7.8m | +346.7% |
| Amounts payable within one year | 42/48 | €16,836,542 | €16,140,510 | -€696,032 | -4.1% |
| Financial debts | 43 | €5,656,000 | €5,653,000 | -€3,000 | -0.1% |
| Credit institutions | 430/8 | €5,656,000 | €5,653,000 | -€3,000 | -0.1% |
| Trade debts | 44 | €3,744,740 | €5,720,258 | +€2.0m | +52.8% |
| Suppliers | 440/4 | €3,744,740 | €5,720,258 | +€2.0m | +52.8% |
| Advances received on contracts in progress | 46 | - | €226,700 | +€226,700 | |
| Taxes, remuneration and social security | 45 | €812,026 | €1,092,501 | +€280,476 | +34.5% |
| Taxes | 450/3 | €156,951 | €135,346 | -€21,605 | -13.8% |
| Remuneration and social security | 454/9 | €655,075 | €957,156 | +€302,081 | +46.1% |
| Other amounts payable | 47/48 | €6,623,776 | €3,448,051 | -€3.2m | -47.9% |
| Accrued charges and deferred income | 492/3 | €185,852 | €282,605 | +€96,753 | +52.1% |
| Operating income | 70/76A | €20,750,352 | €18,201,984 | -€2.5m | -12.3% |
| Turnover | 70 | €20,322,905 | €18,083,701 | -€2.2m | -11.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€63,368 | -€262,522 | -€199,154 | -314.3% |
| Other operating income | 74 | €490,815 | €380,805 | -€110,010 | -22.4% |
| Operating charges | 60/66A | €24,792,997 | €23,915,883 | -€877,115 | -3.5% |
| Goods for resale, raw materials and consumables | 60 | €9,736,341 | €9,276,303 | -€460,038 | -4.7% |
| Purchases | 600/8 | €9,544,878 | €9,543,132 | -€1,746 | 0.0% |
| Change in stocks: decrease (increase) | 609 | €191,463 | -€266,829 | -€458,292 | |
| Services and other goods | 61 | €9,280,491 | €8,842,513 | -€437,977 | -4.7% |
| Remuneration, social security and pensions | 62 | €4,949,698 | €5,040,968 | +€91,269 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €736,016 | €671,218 | -€64,798 | -8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €23,272 | -€1,930 | -€25,202 | |
| Other operating charges | 640/8 | €67,180 | €86,810 | +€19,630 | +29.2% |
| Operating profit (loss) | 9901 | -€4,042,646 | -€5,713,899 | -€1.7m | -41.3% |
| Financial income | 75/76B | €8,162,035 | €4,618,216 | -€3.5m | -43.4% |
| Recurring financial income | 75 | €136,181 | €872,875 | +€736,693 | +541.0% |
| Income from financial fixed assets | 750 | €74,638 | €181,060 | +€106,422 | +142.6% |
| Income from current assets | 751 | €37,904 | €16,800 | -€21,104 | -55.7% |
| Other financial income | 752/9 | €23,640 | €675,015 | +€651,375 | +2755.4% |
| Non-recurring financial income | 76B | €8,025,854 | €3,745,341 | -€4.3m | -53.3% |
| Financial charges | 65/66B | €4,058,388 | €646,570 | -€3.4m | -84.1% |
| Recurring financial charges | 65 | €599,261 | €646,570 | +€47,309 | +7.9% |
| Debt charges | 650 | €392,004 | €403,473 | +€11,470 | +2.9% |
| Other financial charges | 652/9 | €207,258 | €243,097 | +€35,839 | +17.3% |
| Non-recurring financial charges | 66B | €3,459,126 | - | -€3.5m | |
| Profit (loss) for the period before taxes | 9903 | €61,002 | -€1,742,253 | -€1.8m | |
| Income taxes | 67/77 | €22,433 | €4,529 | -€17,904 | -79.8% |
| Taxes | 670/3 | €22,433 | €4,529 | -€17,904 | -79.8% |
| Profit (loss) for the period | 9904 | €38,569 | -€1,746,782 | -€1.8m | |
| Profit (loss) for the period to be appropriated | 9905 | €38,569 | -€1,746,782 | -€1.8m |
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 7 October 2026 via checked.be.