DE KEERSMAECKER: what changed
DE KEERSMAECKER
Largest movements
- Cash -€80,299
down €80,299 (-24.3%), from €330,769 to €250,470
mainly Contributions, distributions and other (-€76,356) and Other debts (-€51,140)
- Receivables within one year -€22,827
down €22,827 (-33.5%), from €68,171 to €45,344
of which Trade receivables: -€14,636
- Stocks and contracts -€19,250
down €19,250 (-100%), from €19,250 to €0
- Deferred charges and accrued income -€4,415
down €4,415 (-57.3%), from €7,712 to €3,296
- Reserves -€76,356
down €76,356 (-18.8%), from €405,735 to €329,379
- Other debts -€51,140
down €51,140 (-99.3%), from €51,483 to €343
- Profit (loss) carried forward +€11,945
up €11,945 (+21.8%), from -€54,862 to -€42,917
- Trade debts -€7,891
down €7,891 (-80.2%), from €9,838 to €1,946
- Gross operating margin +€41,422
up €41,422, from -€39,844 to €1,578
- Financial income +€11,996
up €11,996 (+4,407%), from €272 to €12,268
of which Non-recurring financial income: +€12,000
- Depreciation -€472
down €472 (-100%), from €472 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €425,901 | €299,110 | -€126,792 | -29.8% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €425,901 | €299,110 | -€126,792 | -29.8% |
| Stocks and contracts in progress | 3 | €19,250 | €0 | -€19,250 | -100% |
| Stocks | 30/36 | €19,250 | €0 | -€19,250 | -100% |
| Amounts receivable within one year | 40/41 | €68,171 | €45,344 | -€22,827 | -33.5% |
| Trade receivables | 40 | €56,967 | €42,332 | -€14,636 | -25.7% |
| Other amounts receivable | 41 | €11,204 | €3,012 | -€8,192 | -73.1% |
| Cash at bank and in hand | 54/58 | €330,769 | €250,470 | -€80,299 | -24.3% |
| Deferred charges and accrued income | 490/1 | €7,712 | €3,296 | -€4,415 | -57.3% |
| Total equity and liabilities | 10/49 | €425,901 | €299,110 | -€126,792 | -29.8% |
| Equity | 10/15 | €357,073 | €292,662 | -€64,411 | -18.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €405,735 | €329,379 | -€76,356 | -18.8% |
| Distributable reserves | 133 | €405,735 | €329,379 | -€76,356 | -18.8% |
| Profit (loss) carried forward | 14 | -€54,862 | -€42,917 | +€11,945 | +21.8% |
| Amounts payable | 17/49 | €68,829 | €6,447 | -€62,381 | -90.6% |
| Amounts payable within one year | 42/48 | €68,829 | €6,447 | -€62,381 | -90.6% |
| Trade debts | 44 | €9,838 | €1,946 | -€7,891 | -80.2% |
| Suppliers | 440/4 | €9,838 | €1,946 | -€7,891 | -80.2% |
| Taxes, remuneration and social security | 45 | €7,508 | €4,158 | -€3,350 | -44.6% |
| Taxes | 450/3 | €7,112 | €4,158 | -€2,954 | -41.5% |
| Remuneration and social security | 454/9 | €395 | €0 | -€395 | -100% |
| Other amounts payable | 47/48 | €51,483 | €343 | -€51,140 | -99.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,109 | €0 | -€1,109 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €472 | €0 | -€472 | -100% |
| Other operating charges | 640/8 | €859 | €705 | -€154 | -17.9% |
| Non-recurring operating charges | 66A | €12,777 | €0 | -€12,777 | -100% |
| Gross operating margin | 9900 | -€39,844 | €1,578 | +€41,422 | |
| Operating profit (loss) | 9901 | -€53,952 | €872 | +€54,825 | |
| Financial income | 75/76B | €272 | €12,268 | +€11,996 | +4,407% |
| Recurring financial income | 75 | €272 | €268 | -€4 | -1.6% |
| Non-recurring financial income | 76B | - | €12,000 | +€12,000 | |
| Financial charges | 65/66B | €182 | €247 | +€65 | +35.8% |
| Recurring financial charges | 65 | €182 | €247 | +€65 | +35.8% |
| Profit (loss) for the period before taxes | 9903 | -€53,862 | €12,893 | +€66,755 | |
| Income taxes | 67/77 | €1,000 | €948 | -€52 | -5.2% |
| Profit (loss) for the period | 9904 | -€54,862 | €11,945 | +€66,807 | |
| Profit (loss) for the period to be appropriated | 9905 | -€54,862 | €11,945 | +€66,807 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.