DE KEERHOEVE: 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.
What changed
DE KEERHOEVE
NACE 70.220, Business consulting
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€23,393
2024 · -€56,759+€80,152
Equity
€291,330
2024 · €267,937+€23,393
Cash
€7,657
2024 · €3,687+€3,970
Balance sheet total
€1.8m
2024 · €981,273+€769,544
Largest movements
Assets
- Tangible fixed assets +€760,428
up €760,428 (+78.7%), from €965,777 to €1.7m
of which Assets under construction and advance payments: +€778,344
Equity and liabilities
- Debts after one year +€695,006
new in 2025: €695,006
- Current portion of long-term debt +€39,438
new in 2025: €39,438
- Profit (loss) carried forward +€34,492
up €34,492 (+22.8%), from -€151,384 to -€116,892
Income statement
- Gross operating margin +€68,554
up €68,554, from -€216 to €68,339
- Taxes -€8,889
no longer reported in 2025 (was €8,889)
- Financial charges -€5,646
down €5,646 (-41.8%), from €13,500 to €7,854
- Financial income -€2,704
no longer reported in 2025 (was €2,704)
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
-€56,759
Gross operating margin
+€68,554
Depreciation
-€342
Other operating charges
+€109
Financial income
-€2,704
Financial charges
+€5,646
Taxes
+€8,889
Result 2025
€23,393
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
+€64,164
Investment
-€794,638
Financing
+€734,444
Cash 2024
€3,687
From operations (derived)
+€64,164
Net result for the year
+€23,393
Depreciation
+€34,210
Receivables within one year
-€5,925
Deferred charges and accrued income
+€780
Provisions
-€3,700
Trade debts
+€13,430
Tax, wage and social debts
+€8,164
Other debts
-€6,187
Investment (derived)
-€794,638
Investment in fixed assets (net)
-€794,638
Financing
+€734,444
Debts after one year
+€695,006
Current portion of long-term debt
+€39,438
Cash 2025
€7,657
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €981,273 | €1,750,817 | +€769,544 | +78.4% |
| Fixed assets | 21/28 | €965,777 | €1,726,206 | +€760,428 | +78.7% |
| Tangible fixed assets | 22/27 | €965,777 | €1,726,206 | +€760,428 | +78.7% |
| Land and buildings | 22 | €964,565 | €931,349 | -€33,216 | -3.4% |
| Plant, machinery and equipment | 23 | €1,212 | €9,862 | +€8,649 | +713.4% |
| Furniture and vehicles | 24 | - | €6,650 | +€6,650 | |
| Assets under construction and advance payments | 27 | - | €778,344 | +€778,344 | |
| Current assets | 29/58 | €15,496 | €24,612 | +€9,116 | +58.8% |
| Amounts receivable within one year | 40/41 | €9,075 | €15,000 | +€5,925 | +65.3% |
| Trade receivables | 40 | €9,075 | €15,000 | +€5,925 | +65.3% |
| Cash at bank and in hand | 54/58 | €3,687 | €7,657 | +€3,970 | +107.7% |
| Deferred charges and accrued income | 490/1 | €2,734 | €1,954 | -€780 | -28.5% |
| Total equity and liabilities | 10/49 | €981,273 | €1,750,817 | +€769,544 | +78.4% |
| Equity | 10/15 | €267,937 | €291,330 | +€23,393 | +8.7% |
| Contributions | 10/11 | €127,051 | €127,051 | = | 0.0% |
| Capital | 10 | €127,051 | €127,051 | = | 0.0% |
| Issued capital | 100 | €127,051 | €127,051 | = | 0.0% |
| Reserves | 13 | €292,270 | €281,171 | -€11,099 | -3.8% |
| Tax-exempt reserves | 132 | €292,270 | €281,171 | -€11,099 | -3.8% |
| Profit (loss) carried forward | 14 | -€151,384 | -€116,892 | +€34,492 | +22.8% |
| Provisions and deferred taxes | 16 | €97,423 | €93,724 | -€3,700 | -3.8% |
| Deferred taxes | 168 | €97,423 | €93,724 | -€3,700 | -3.8% |
| Amounts payable | 17/49 | €615,913 | €1,365,764 | +€749,851 | +121.7% |
| Amounts payable after more than one year | 17 | - | €695,006 | +€695,006 | |
| Financial debts | 170/4 | - | €695,006 | +€695,006 | |
| Amounts payable within one year | 42/48 | €615,913 | €670,757 | +€54,845 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | - | €39,438 | +€39,438 | |
| Trade debts | 44 | €309 | €13,739 | +€13,430 | +4339.5% |
| Suppliers | 440/4 | €309 | €13,739 | +€13,430 | +4339.5% |
| Taxes, remuneration and social security | 45 | - | €8,164 | +€8,164 | |
| Taxes | 450/3 | - | €8,164 | +€8,164 | |
| Other amounts payable | 47/48 | €615,603 | €609,416 | -€6,187 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,868 | €34,210 | +€342 | +1.0% |
| Other operating charges | 640/8 | €6,690 | €6,581 | -€109 | -1.6% |
| Gross operating margin | 9900 | -€216 | €68,339 | +€68,554 | |
| Operating profit (loss) | 9901 | -€40,774 | €27,548 | +€68,321 | |
| Financial income | 75/76B | €2,704 | - | -€2,704 | |
| Recurring financial income | 75 | €2,704 | - | -€2,704 | |
| Financial charges | 65/66B | €13,500 | €7,854 | -€5,646 | -41.8% |
| Recurring financial charges | 65 | €13,500 | €7,854 | -€5,646 | -41.8% |
| Profit (loss) for the period before taxes | 9903 | -€51,570 | €19,693 | +€71,263 | |
| Transfer from deferred taxes | 780 | €3,700 | €3,700 | = | 0.0% |
| Income taxes | 67/77 | €8,889 | - | -€8,889 | |
| Profit (loss) for the period | 9904 | -€56,759 | €23,393 | +€80,152 | |
| Transfer from tax-exempt reserves | 789 | €11,099 | €11,099 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,660 | €34,492 | +€80,152 |
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 11 October 2026 via checked.be.