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 -€32,962
down €32,962 (-28.9%), from €114,237 to €81,275
of which Land and buildings: -€20,064
- Receivables within one year +€26,475
up €26,475 (+712%), from €3,716 to €30,192
of which Trade receivables: +€16,956
- Cash +€21,502
up €21,502 (+33.3%), from €64,607 to €86,110
mainly Other debts (+€59,265) and Depreciation (+€32,962)
- Other debts +€59,265
up €59,265 (+337%), from €17,600 to €76,865
- Contributions -€53,000
down €53,000 (-98.9%), from €53,600 to €600
- Reserves +€20,761
up €20,761 (+36.5%), from €56,801 to €77,562
of which Distributable reserves: +€20,761
- Current portion of long-term debt -€6,250
down €6,250 (-50.0%), from €12,500 to €6,250
- Debts after one year -€5,776
down €5,776 (-16.8%), from €34,350 to €28,574
of which Financial debts: -€6,250
- Gross operating margin -€13,289
down €13,289 (-9.3%), from €142,806 to €129,517
- Staff costs -€3,720
down €3,720 (-6.5%), from €56,837 to €53,117
- Taxes -€2,550
down €2,550 (-17.4%), from €14,619 to €12,069
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 | €185,285 | €200,293 | +€15,009 | +8.1% |
| Fixed assets | 21/28 | €114,237 | €81,275 | -€32,962 | -28.9% |
| Tangible fixed assets | 22/27 | €114,237 | €81,275 | -€32,962 | -28.9% |
| Land and buildings | 22 | €81,803 | €61,740 | -€20,064 | -24.5% |
| Plant, machinery and equipment | 23 | €28,176 | €17,298 | -€10,879 | -38.6% |
| Furniture and vehicles | 24 | €4,257 | €2,238 | -€2,019 | -47.4% |
| Current assets | 29/58 | €71,047 | €119,018 | +€47,971 | +67.5% |
| Amounts receivable within one year | 40/41 | €3,716 | €30,192 | +€26,475 | +712% |
| Trade receivables | 40 | €433 | €17,389 | +€16,956 | +3,916% |
| Other amounts receivable | 41 | €3,283 | €12,803 | +€9,520 | +290% |
| Cash at bank and in hand | 54/58 | €64,607 | €86,110 | +€21,502 | +33.3% |
| Deferred charges and accrued income | 490/1 | €2,724 | €2,717 | -€7 | -0.3% |
| Total equity and liabilities | 10/49 | €185,285 | €200,293 | +€15,009 | +8.1% |
| Equity | 10/15 | €110,401 | €78,162 | -€32,239 | -29.2% |
| Contributions | 10/11 | €53,600 | €600 | -€53,000 | -98.9% |
| Reserves | 13 | €56,801 | €77,562 | +€20,761 | +36.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €56,801 | €77,562 | +€20,761 | +36.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €74,884 | €122,132 | +€47,248 | +63.1% |
| Amounts payable after more than one year | 17 | €34,350 | €28,574 | -€5,776 | -16.8% |
| Financial debts | 170/4 | €25,000 | €18,750 | -€6,250 | -25.0% |
| Other amounts payable | 178/9 | €9,350 | €9,824 | +€474 | +5.1% |
| Amounts payable within one year | 42/48 | €40,533 | €93,558 | +€53,025 | +131% |
| Current portion of amounts payable after more than one year | 42 | €12,500 | €6,250 | -€6,250 | -50.0% |
| Trade debts | 44 | €3,501 | €9,139 | +€5,637 | +161% |
| Suppliers | 440/4 | €3,501 | €9,139 | +€5,637 | +161% |
| Taxes, remuneration and social security | 45 | €6,932 | €1,304 | -€5,628 | -81.2% |
| Taxes | 450/3 | €4,056 | €1,067 | -€2,990 | -73.7% |
| Remuneration and social security | 454/9 | €2,876 | €237 | -€2,639 | -91.8% |
| Other amounts payable | 47/48 | €17,600 | €76,865 | +€59,265 | +337% |
| Remuneration, social security and pensions | 62 | €56,837 | €53,117 | -€3,720 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,857 | €32,962 | -€895 | -2.6% |
| Other operating charges | 640/8 | €3,655 | €3,465 | -€191 | -5.2% |
| Gross operating margin | 9900 | €142,806 | €129,517 | -€13,289 | -9.3% |
| Operating profit (loss) | 9901 | €48,457 | €39,973 | -€8,484 | -17.5% |
| Financial income | 75/76B | €293 | €641 | +€349 | +119% |
| Recurring financial income | 75 | €293 | €641 | +€349 | +119% |
| Financial charges | 65/66B | €3,861 | €3,340 | -€521 | -13.5% |
| Recurring financial charges | 65 | €3,861 | €3,340 | -€521 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €44,889 | €37,275 | -€7,614 | -17.0% |
| Income taxes | 67/77 | €14,619 | €12,069 | -€2,550 | -17.4% |
| Profit (loss) for the period | 9904 | €30,270 | €25,206 | -€5,064 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,270 | €25,206 | -€5,064 | -16.7% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.