MATHIAS KERKHOFS CONSTRUCT: 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.
MATHIAS KERKHOFS CONSTRUCT
Largest movements
- Receivables within one year +€31,554
up €31,554 (+291%), from €10,844 to €42,399
of which Other amounts receivable: +€25,595
- Tangible fixed assets -€12,442
down €12,442 (-16.2%), from €76,901 to €64,459
of which Furniture and vehicles: -€20,692
- Stocks and contracts +€10,365
up €10,365 (+465%), from €2,230 to €12,595
- Profit (loss) carried forward +€29,549
up €29,549 (+44.2%), from €66,876 to €96,425
- Trade debts +€22,251
up €22,251 (+234%), from €9,515 to €31,766
- Debts after one year -€16,960
down €16,960 (-35.5%), from €47,771 to €30,811
- Tax, wage and social debts -€4,173
down €4,173 (-48.5%), from €8,597 to €4,424
- Staff costs -€32,732
down €32,732 (-36.9%), from €88,622 to €55,889
- Gross operating margin -€13,832
down €13,832 (-10.3%), from €134,023 to €120,191
- Depreciation +€5,088
up €5,088 (+28.5%), from €17,848 to €22,936
- Taxes +€3,367
up €3,367 (+79.6%), from €4,230 to €7,597
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 | €152,160 | €183,450 | +€31,290 | +20.6% |
| Fixed assets | 21/28 | €76,901 | €64,459 | -€12,442 | -16.2% |
| Tangible fixed assets | 22/27 | €76,901 | €64,459 | -€12,442 | -16.2% |
| Plant, machinery and equipment | 23 | €4,384 | €12,634 | +€8,251 | +188% |
| Furniture and vehicles | 24 | €72,518 | €51,825 | -€20,692 | -28.5% |
| Current assets | 29/58 | €75,258 | €118,991 | +€43,732 | +58.1% |
| Stocks and contracts in progress | 3 | €2,230 | €12,595 | +€10,365 | +465% |
| Stocks | 30/36 | €2,230 | €12,595 | +€10,365 | +465% |
| Amounts receivable within one year | 40/41 | €10,844 | €42,399 | +€31,554 | +291% |
| Trade receivables | 40 | €10,433 | €16,393 | +€5,959 | +57.1% |
| Other amounts receivable | 41 | €411 | €26,006 | +€25,595 | +6,226% |
| Cash at bank and in hand | 54/58 | €62,126 | €63,939 | +€1,813 | +2.9% |
| Deferred charges and accrued income | 490/1 | €58 | €58 | = | 0.0% |
| Total equity and liabilities | 10/49 | €152,160 | €183,450 | +€31,290 | +20.6% |
| Equity | 10/15 | €69,876 | €99,425 | +€29,549 | +42.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,876 | €96,425 | +€29,549 | +44.2% |
| Amounts payable | 17/49 | €82,284 | €84,025 | +€1,741 | +2.1% |
| Amounts payable after more than one year | 17 | €47,771 | €30,811 | -€16,960 | -35.5% |
| Financial debts | 170/4 | €47,771 | €30,811 | -€16,960 | -35.5% |
| Amounts payable within one year | 42/48 | €34,513 | €53,215 | +€18,701 | +54.2% |
| Current portion of amounts payable after more than one year | 42 | €16,336 | €16,960 | +€624 | +3.8% |
| Trade debts | 44 | €9,515 | €31,766 | +€22,251 | +234% |
| Suppliers | 440/4 | €9,515 | €31,766 | +€22,251 | +234% |
| Taxes, remuneration and social security | 45 | €8,597 | €4,424 | -€4,173 | -48.5% |
| Taxes | 450/3 | €8,597 | €4,424 | -€4,173 | -48.5% |
| Other amounts payable | 47/48 | €65 | €65 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €88,622 | €55,889 | -€32,732 | -36.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,848 | €22,936 | +€5,088 | +28.5% |
| Other operating charges | 640/8 | €646 | €1,428 | +€782 | +121% |
| Gross operating margin | 9900 | €134,023 | €120,191 | -€13,832 | -10.3% |
| Operating profit (loss) | 9901 | €26,908 | €39,938 | +€13,030 | +48.4% |
| Financial income | 75/76B | €2,802 | €1,587 | -€1,215 | -43.4% |
| Recurring financial income | 75 | €2,802 | €1,587 | -€1,215 | -43.4% |
| Financial charges | 65/66B | €4,862 | €4,379 | -€483 | -9.9% |
| Recurring financial charges | 65 | €4,862 | €4,379 | -€483 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €24,848 | €37,146 | +€12,298 | +49.5% |
| Income taxes | 67/77 | €4,230 | €7,597 | +€3,367 | +79.6% |
| Profit (loss) for the period | 9904 | €20,618 | €29,549 | +€8,931 | +43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,618 | €29,549 | +€8,931 | +43.3% |
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 25 October 2026 via checked.be.