DE KEGEL: 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.
DE KEGEL
Largest movements
- Tangible fixed assets -€16,502
down €16,502 (-3.1%), from €528,059 to €511,557
of which Land and buildings: -€22,584
- Receivables within one year +€13,075
up €13,075 (+1,888%), from €693 to €13,768
of which Trade receivables: +€13,038
- Cash -€6,261
down €6,261 (-11.0%), from €56,965 to €50,704
mainly Debts after one year (-€33,647) and Investment in fixed assets (net) (-€16,254)
- Debts after one year -€33,647
down €33,647 (-7.4%), from €453,227 to €419,581
of which Financial debts: -€23,712
- Reserves +€29,047
up €29,047 (+76.7%), from €37,892 to €66,938
- Tax, wage and social debts -€7,191
down €7,191 (-42.9%), from €16,761 to €9,571
of which Taxes: -€7,198
- Gross operating margin +€24,507
up €24,507 (+39.2%), from €62,538 to €87,044
- Taxes +€6,249
up €6,249 (+85.6%), from €7,302 to €13,552
- Depreciation +€1,463
up €1,463 (+4.7%), from €31,292 to €32,756
- Other operating charges +€1,448
up €1,448 (+76.7%), from €1,887 to €3,336
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 | €588,416 | €579,309 | -€9,107 | -1.5% |
| Fixed assets | 21/28 | €528,059 | €511,557 | -€16,502 | -3.1% |
| Tangible fixed assets | 22/27 | €528,059 | €511,557 | -€16,502 | -3.1% |
| Land and buildings | 22 | €510,006 | €487,422 | -€22,584 | -4.4% |
| Plant, machinery and equipment | 23 | €12,799 | €21,389 | +€8,589 | +67.1% |
| Furniture and vehicles | 24 | €5,253 | €2,746 | -€2,507 | -47.7% |
| Current assets | 29/58 | €60,358 | €67,753 | +€7,395 | +12.3% |
| Amounts receivable within one year | 40/41 | €693 | €13,768 | +€13,075 | +1,888% |
| Trade receivables | 40 | - | €13,038 | +€13,038 | |
| Other amounts receivable | 41 | €693 | €730 | +€38 | +5.4% |
| Cash at bank and in hand | 54/58 | €56,965 | €50,704 | -€6,261 | -11.0% |
| Deferred charges and accrued income | 490/1 | €2,700 | €3,281 | +€581 | +21.5% |
| Total equity and liabilities | 10/49 | €588,416 | €579,309 | -€9,107 | -1.5% |
| Equity | 10/15 | €92,987 | €122,034 | +€29,047 | +31.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €37,892 | €66,938 | +€29,047 | +76.7% |
| Distributable reserves | 133 | €37,892 | €66,938 | +€29,047 | +76.7% |
| Profit (loss) carried forward | 14 | €36,496 | €36,496 | = | 0.0% |
| Amounts payable | 17/49 | €495,429 | €457,275 | -€38,154 | -7.7% |
| Amounts payable after more than one year | 17 | €453,227 | €419,581 | -€33,647 | -7.4% |
| Financial debts | 170/4 | €279,275 | €255,563 | -€23,712 | -8.5% |
| Other amounts payable | 178/9 | €173,952 | €164,018 | -€9,934 | -5.7% |
| Amounts payable within one year | 42/48 | €42,202 | €37,695 | -€4,507 | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €23,073 | €23,712 | +€639 | +2.8% |
| Trade debts | 44 | €2,367 | €4,412 | +€2,045 | +86.4% |
| Suppliers | 440/4 | €2,367 | €4,412 | +€2,045 | +86.4% |
| Taxes, remuneration and social security | 45 | €16,761 | €9,571 | -€7,191 | -42.9% |
| Taxes | 450/3 | €15,113 | €7,915 | -€7,198 | -47.6% |
| Remuneration and social security | 454/9 | €1,648 | €1,656 | +€8 | +0.5% |
| Remuneration, social security and pensions | 62 | €6 | €0 | -€6 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,292 | €32,756 | +€1,463 | +4.7% |
| Other operating charges | 640/8 | €1,887 | €3,336 | +€1,448 | +76.7% |
| Gross operating margin | 9900 | €62,538 | €87,044 | +€24,507 | +39.2% |
| Operating profit (loss) | 9901 | €29,353 | €50,953 | +€21,600 | +73.6% |
| Financial income | 75/76B | €0 | €5 | +€5 | +46,800% |
| Recurring financial income | 75 | €0 | €5 | +€5 | +46,800% |
| Financial charges | 65/66B | €8,912 | €8,359 | -€553 | -6.2% |
| Recurring financial charges | 65 | €8,912 | €8,359 | -€553 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €20,441 | €42,599 | +€22,158 | +108% |
| Income taxes | 67/77 | €7,302 | €13,552 | +€6,249 | +85.6% |
| Profit (loss) for the period | 9904 | €13,138 | €29,047 | +€15,909 | +121% |
| Profit (loss) for the period to be appropriated | 9905 | €13,138 | €29,047 | +€15,909 | +121% |
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 25 October 2026 via checked.be.