MATHIEU KERCKHOFS TRAILERS: 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.
MATHIEU KERCKHOFS TRAILERS
Largest movements
- Stocks and contracts -€783,064
down €783,064 (-37.5%), from €2.1m to €1.3m
- Receivables within one year -€62,825
down €62,825 (-13.4%), from €469,722 to €406,897
of which Trade receivables: -€75,628
- Trade debts -€426,493
down €426,493 (-61.9%), from €689,157 to €262,664
- Current portion of long-term debt -€355,594
down €355,594 (-54.8%), from €649,463 to €293,869
- Reserves +€90,509
up €90,509 (+14.0%), from €645,910 to €736,419
of which Distributable reserves: +€90,509
- Tax, wage and social debts -€86,276
down €86,276 (-38.6%), from €223,515 to €137,240
of which Taxes: -€87,013
- Other debts -€53,965
down €53,965 (-31.5%), from €171,502 to €117,537
- Gross operating margin -€122,234
down €122,234 (-18.6%), from €658,411 to €536,177
- Write-downs -€31,928
no longer reported in 2025 (was €31,928)
- Taxes -€23,897
down €23,897 (-43.8%), from €54,520 to €30,623
- Depreciation -€9,806
down €9,806 (-8.9%), from €110,286 to €100,481
- Other operating charges +€8,710
up €8,710 (+14.6%), from €59,514 to €68,224
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 | €3,130,134 | €2,282,136 | -€847,998 | -27.1% |
| Fixed assets | 21/28 | €497,982 | €482,559 | -€15,424 | -3.1% |
| Tangible fixed assets | 22/27 | €497,482 | €482,059 | -€15,424 | -3.1% |
| Plant, machinery and equipment | 23 | €66,338 | €42,119 | -€24,219 | -36.5% |
| Furniture and vehicles | 24 | €73,651 | €46,224 | -€27,427 | -37.2% |
| Leasing and similar rights | 25 | €50,281 | €112,620 | +€62,339 | +124% |
| Other tangible fixed assets | 26 | €307,212 | €281,095 | -€26,117 | -8.5% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €2,632,152 | €1,799,578 | -€832,574 | -31.6% |
| Stocks and contracts in progress | 3 | €2,088,832 | €1,305,768 | -€783,064 | -37.5% |
| Stocks | 30/36 | €2,088,832 | €1,305,768 | -€783,064 | -37.5% |
| Amounts receivable within one year | 40/41 | €469,722 | €406,897 | -€62,825 | -13.4% |
| Trade receivables | 40 | €463,147 | €387,519 | -€75,628 | -16.3% |
| Other amounts receivable | 41 | €6,575 | €19,377 | +€12,803 | +195% |
| Cash at bank and in hand | 54/58 | €38,295 | €43,664 | +€5,369 | +14.0% |
| Deferred charges and accrued income | 490/1 | €35,303 | €43,249 | +€7,946 | +22.5% |
| Total equity and liabilities | 10/49 | €3,130,134 | €2,282,136 | -€847,998 | -27.1% |
| Equity | 10/15 | €664,510 | €755,019 | +€90,509 | +13.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €645,910 | €736,419 | +€90,509 | +14.0% |
| Tax-exempt reserves | 132 | €1,036 | €1,036 | = | 0.0% |
| Distributable reserves | 133 | €644,874 | €735,383 | +€90,509 | +14.0% |
| Amounts payable | 17/49 | €2,465,624 | €1,527,117 | -€938,507 | -38.1% |
| Amounts payable after more than one year | 17 | €228,092 | €220,808 | -€7,284 | -3.2% |
| Financial debts | 170/4 | €228,092 | €220,808 | -€7,284 | -3.2% |
| Amounts payable within one year | 42/48 | €2,233,637 | €1,306,309 | -€927,328 | -41.5% |
| Current portion of amounts payable after more than one year | 42 | €649,463 | €293,869 | -€355,594 | -54.8% |
| Financial debts | 43 | €500,000 | €495,000 | -€5,000 | -1.0% |
| Credit institutions | 430/8 | €500,000 | €495,000 | -€5,000 | -1.0% |
| Trade debts | 44 | €689,157 | €262,664 | -€426,493 | -61.9% |
| Suppliers | 440/4 | €689,157 | €262,664 | -€426,493 | -61.9% |
| Taxes, remuneration and social security | 45 | €223,515 | €137,240 | -€86,276 | -38.6% |
| Taxes | 450/3 | €200,395 | €113,382 | -€87,013 | -43.4% |
| Remuneration and social security | 454/9 | €23,120 | €23,858 | +€738 | +3.2% |
| Other amounts payable | 47/48 | €171,502 | €117,537 | -€53,965 | -31.5% |
| Accrued charges and deferred income | 492/3 | €3,896 | - | -€3,896 | |
| Non-recurring operating income | 76A | - | €703 | +€703 | |
| Remuneration, social security and pensions | 62 | €175,141 | €170,755 | -€4,386 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,286 | €100,481 | -€9,806 | -8.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €31,928 | - | -€31,928 | |
| Other operating charges | 640/8 | €59,514 | €68,224 | +€8,710 | +14.6% |
| Gross operating margin | 9900 | €658,411 | €536,177 | -€122,234 | -18.6% |
| Operating profit (loss) | 9901 | €281,541 | €196,717 | -€84,824 | -30.1% |
| Financial income | 75/76B | €957 | €2,111 | +€1,153 | +120% |
| Recurring financial income | 75 | €957 | €2,111 | +€1,153 | +120% |
| Financial charges | 65/66B | €74,357 | €77,696 | +€3,339 | +4.5% |
| Recurring financial charges | 65 | €74,357 | €77,696 | +€3,339 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €208,142 | €121,132 | -€87,010 | -41.8% |
| Income taxes | 67/77 | €54,520 | €30,623 | -€23,897 | -43.8% |
| Profit (loss) for the period | 9904 | €153,622 | €90,509 | -€63,113 | -41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €153,622 | €90,509 | -€63,113 | -41.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.