TEAM KREMER: 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.
TEAM KREMER
Largest movements
- Tangible fixed assets +€223,455
up €223,455 (+21.5%), from €1.0m to €1.3m
of which Land and buildings: +€139,502
- Cash -€139,442
down €139,442 (-65.5%), from €212,819 to €73,377
mainly Investment in fixed assets (net) (-€292,512) and Tax, wage and social debts (-€57,518)
- Stocks and contracts +€55,000
up €55,000 (+22.2%), from €247,500 to €302,500
- Other debts +€96,891
up €96,891 (+51.9%), from €186,576 to €283,467
- Debts after one year +€69,875
up €69,875 (+6.5%), from €1.1m to €1.1m
- Tax, wage and social debts -€57,518
down €57,518 (-91.6%), from €62,800 to €5,282
of which Taxes: -€58,715
- Current portion of long-term debt +€21,686
up €21,686 (+25.4%), from €85,287 to €106,973
- Gross operating margin +€31,566
up €31,566 (+39.2%), from €80,555 to €112,121
- Depreciation +€15,603
up €15,603 (+29.2%), from €53,454 to €69,057
- Other operating charges +€2,939
up €2,939 (+55.0%), from €5,343 to €8,281
- Staff costs +€2,722
new in 2025: €2,722
- Taxes -€2,203
down €2,203 (-76.6%), from €2,877 to €674
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 | €1,537,534 | €1,689,940 | +€152,406 | +9.9% |
| Fixed assets | 21/28 | €1,039,812 | €1,263,268 | +€223,455 | +21.5% |
| Tangible fixed assets | 22/27 | €1,039,812 | €1,263,268 | +€223,455 | +21.5% |
| Land and buildings | 22 | €1,036,489 | €1,175,991 | +€139,502 | +13.5% |
| Plant, machinery and equipment | 23 | €3,281 | €12,586 | +€9,305 | +284% |
| Furniture and vehicles | 24 | €42 | €37,910 | +€37,868 | +89,841% |
| Leasing and similar rights | 25 | - | €36,780 | +€36,780 | |
| Current assets | 29/58 | €497,721 | €426,672 | -€71,049 | -14.3% |
| Stocks and contracts in progress | 3 | €247,500 | €302,500 | +€55,000 | +22.2% |
| Stocks | 30/36 | €247,500 | €302,500 | +€55,000 | +22.2% |
| Amounts receivable within one year | 40/41 | €33,201 | €48,807 | +€15,606 | +47.0% |
| Trade receivables | 40 | €32,456 | €40,373 | +€7,917 | +24.4% |
| Other amounts receivable | 41 | €745 | €8,434 | +€7,689 | +1,032% |
| Cash at bank and in hand | 54/58 | €212,819 | €73,377 | -€139,442 | -65.5% |
| Deferred charges and accrued income | 490/1 | €4,201 | €1,987 | -€2,213 | -52.7% |
| Total equity and liabilities | 10/49 | €1,537,534 | €1,689,940 | +€152,406 | +9.9% |
| Equity | 10/15 | €98,151 | €111,426 | +€13,275 | +13.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,691 | €90,966 | +€13,275 | +17.1% |
| Amounts payable | 17/49 | €1,439,383 | €1,578,514 | +€139,131 | +9.7% |
| Amounts payable after more than one year | 17 | €1,068,219 | €1,138,094 | +€69,875 | +6.5% |
| Financial debts | 170/4 | €1,068,219 | €1,138,094 | +€69,875 | +6.5% |
| Amounts payable within one year | 42/48 | €371,164 | €438,319 | +€67,156 | +18.1% |
| Current portion of amounts payable after more than one year | 42 | €85,287 | €106,973 | +€21,686 | +25.4% |
| Financial debts | 43 | €926 | €1,221 | +€295 | +31.9% |
| Credit institutions | 430/8 | €926 | €1,221 | +€295 | +31.9% |
| Trade debts | 44 | €35,574 | €31,376 | -€4,198 | -11.8% |
| Suppliers | 440/4 | €35,574 | €31,376 | -€4,198 | -11.8% |
| Advances received on contracts in progress | 46 | - | €10,000 | +€10,000 | |
| Taxes, remuneration and social security | 45 | €62,800 | €5,282 | -€57,518 | -91.6% |
| Taxes | 450/3 | €62,800 | €4,086 | -€58,715 | -93.5% |
| Remuneration and social security | 454/9 | - | €1,196 | +€1,196 | |
| Other amounts payable | 47/48 | €186,576 | €283,467 | +€96,891 | +51.9% |
| Accrued charges and deferred income | 492/3 | - | €2,100 | +€2,100 | |
| Remuneration, social security and pensions | 62 | - | €2,722 | +€2,722 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,454 | €69,057 | +€15,603 | +29.2% |
| Other operating charges | 640/8 | €5,343 | €8,281 | +€2,939 | +55.0% |
| Gross operating margin | 9900 | €80,555 | €112,121 | +€31,566 | +39.2% |
| Operating profit (loss) | 9901 | €21,758 | €32,061 | +€10,303 | +47.4% |
| Financial income | 75/76B | €101 | €134 | +€32 | +32.0% |
| Recurring financial income | 75 | €101 | €134 | +€32 | +32.0% |
| Financial charges | 65/66B | €17,264 | €16,579 | -€685 | -4.0% |
| Recurring financial charges | 65 | €17,264 | €16,579 | -€685 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €4,595 | €15,616 | +€11,020 | +240% |
| Income taxes | 67/77 | €2,877 | €674 | -€2,203 | -76.6% |
| Profit (loss) for the period | 9904 | €1,718 | €14,941 | +€13,223 | +770% |
| Profit (loss) for the period to be appropriated | 9905 | €1,718 | €14,941 | +€13,223 | +770% |
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 29 October 2026 via checked.be.