VMJ KELLENS: 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.
VMJ KELLENS
Largest movements
- Cash +€389,143
up €389,143 (+3202.5%), from €12,151 to €401,294
mainly Net result for the year (+€417,348) and Investment in fixed assets (net) (+€220,359)
- Tangible fixed assets -€220,359
down €220,359 (-100.0%), from €220,359 to €0
- Reserves +€360,246
up €360,246, from €0 to €360,246
- Debts after one year -€271,500
down €271,500 (-100.0%), from €271,500 to €0
- Profit (loss) carried forward +€57,102
up €57,102, from -€57,102 to €0
- Tax, wage and social debts +€22,905
new in 2025: €22,905
- Gross operating margin +€489,423
up €489,423 (+21359.1%), from €2,291 to €491,714
- Taxes +€72,905
new in 2025: €72,905
- Depreciation -€43,359
down €43,359 (-100.0%), from €43,359 to €0
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €245,385 | €414,137 | +€168,753 | +68.8% |
| Fixed assets | 21/28 | €220,359 | €0 | -€220,359 | -100.0% |
| Tangible fixed assets | 22/27 | €220,359 | €0 | -€220,359 | -100.0% |
| Land and buildings | 22 | €220,359 | €0 | -€220,359 | -100.0% |
| Current assets | 29/58 | €25,026 | €414,137 | +€389,112 | +1554.8% |
| Amounts receivable within one year | 40/41 | €12,002 | €12,220 | +€218 | +1.8% |
| Other amounts receivable | 41 | €12,002 | €12,220 | +€218 | +1.8% |
| Cash at bank and in hand | 54/58 | €12,151 | €401,294 | +€389,143 | +3202.5% |
| Deferred charges and accrued income | 490/1 | €872 | €623 | -€249 | -28.6% |
| Total equity and liabilities | 10/49 | €245,385 | €414,137 | +€168,753 | +68.8% |
| Equity | 10/15 | -€26,115 | €391,233 | +€417,348 | |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €0 | €360,246 | +€360,246 | |
| Distributable reserves | 133 | €0 | €360,246 | +€360,246 | |
| Profit (loss) carried forward | 14 | -€57,102 | €0 | +€57,102 | |
| Amounts payable | 17/49 | €271,500 | €22,905 | -€248,595 | -91.6% |
| Amounts payable after more than one year | 17 | €271,500 | €0 | -€271,500 | -100.0% |
| Financial debts | 170/4 | €271,500 | €0 | -€271,500 | -100.0% |
| Amounts payable within one year | 42/48 | €0 | €22,905 | +€22,905 | |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | - | €22,905 | +€22,905 | |
| Taxes | 450/3 | - | €22,905 | +€22,905 | |
| Non-recurring operating income | 76A | - | €529,123 | +€529,123 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,359 | €0 | -€43,359 | -100.0% |
| Other operating charges | 640/8 | €4,159 | €1,529 | -€2,630 | -63.2% |
| Gross operating margin | 9900 | €2,291 | €491,714 | +€489,423 | +21359.1% |
| Operating profit (loss) | 9901 | -€45,227 | €490,185 | +€535,412 | |
| Financial income | 75/76B | €214 | €218 | +€4 | +2.0% |
| Recurring financial income | 75 | €214 | €218 | +€4 | +2.0% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | -€45,149 | €490,253 | +€535,402 | |
| Income taxes | 67/77 | - | €72,905 | +€72,905 | |
| Profit (loss) for the period | 9904 | -€45,149 | €417,348 | +€462,497 | |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,149 | €417,348 | +€462,497 |
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 2 October 2026 via checked.be.