DE KEIBERG: 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 KEIBERG
Largest movements
- Tangible fixed assets +€366,286
up €366,286 (+42.4%), from €864,368 to €1.2m
of which Land and buildings: +€360,177
- Cash +€47,114
new in 2025: €47,114
mainly Debts after one year (+€447,064) and Depreciation (+€104,719)
- Current investments -€44,547
no longer reported in 2025 (was €44,547)
- Debts after one year +€447,064
up €447,064 (+140.1%), from €319,180 to €766,245
of which Other amounts payable: +€461,872
- Reserves -€50,500
down €50,500 (-12.1%), from €415,996 to €365,496
of which Distributable reserves: -€50,500
- Trade debts -€40,818
down €40,818 (-70.8%), from €57,644 to €16,826
- Current portion of long-term debt +€13,333
up €13,333 (+20.0%), from €66,667 to €80,000
- Depreciation +€33,501
up €33,501 (+47.0%), from €71,218 to €104,719
- Gross operating margin +€29,549
up €29,549 (+25.6%), from €115,441 to €144,990
- Financial income +€9,486
up €9,486 (+40887.0%), from €23 to €9,509
of which Financial income: +€8,486
- Financial charges +€6,743
up €6,743 (+118.3%), from €5,698 to €12,442
- Staff costs +€1,951
up €1,951 (+2.5%), from €77,772 to €79,723
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 | €908,916 | €1,280,320 | +€371,405 | +40.9% |
| Fixed assets | 21/28 | €864,368 | €1,230,654 | +€366,286 | +42.4% |
| Tangible fixed assets | 22/27 | €864,368 | €1,230,654 | +€366,286 | +42.4% |
| Land and buildings | 22 | €845,477 | €1,205,654 | +€360,177 | +42.6% |
| Furniture and vehicles | 24 | €18,891 | €25,000 | +€6,109 | +32.3% |
| Current assets | 29/58 | €44,547 | €49,666 | +€5,119 | +11.5% |
| Amounts receivable within one year | 40/41 | - | €2,553 | +€2,553 | |
| Other amounts receivable | 41 | - | €2,553 | +€2,553 | |
| Current investments | 50/53 | €44,547 | - | -€44,547 | |
| Cash at bank and in hand | 54/58 | - | €47,114 | +€47,114 | |
| Total equity and liabilities | 10/49 | €908,916 | €1,280,320 | +€371,405 | +40.9% |
| Equity | 10/15 | €434,596 | €384,096 | -€50,500 | -11.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €415,996 | €365,496 | -€50,500 | -12.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €414,136 | €363,636 | -€50,500 | -12.2% |
| Amounts payable | 17/49 | €474,320 | €896,224 | +€421,904 | +88.9% |
| Amounts payable after more than one year | 17 | €319,180 | €766,245 | +€447,064 | +140.1% |
| Financial debts | 170/4 | €268,141 | €253,333 | -€14,808 | -5.5% |
| Other amounts payable | 178/9 | €51,039 | €512,912 | +€461,872 | +904.9% |
| Amounts payable within one year | 42/48 | €153,183 | €127,991 | -€25,193 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €66,667 | €80,000 | +€13,333 | +20.0% |
| Trade debts | 44 | €57,644 | €16,826 | -€40,818 | -70.8% |
| Suppliers | 440/4 | €57,644 | €16,826 | -€40,818 | -70.8% |
| Taxes, remuneration and social security | 45 | €25,538 | €27,830 | +€2,292 | +9.0% |
| Taxes | 450/3 | €16,842 | €18,884 | +€2,042 | +12.1% |
| Remuneration and social security | 454/9 | €8,696 | €8,946 | +€250 | +2.9% |
| Other amounts payable | 47/48 | €3,335 | €3,335 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,956 | €1,988 | +€33 | +1.7% |
| Remuneration, social security and pensions | 62 | €77,772 | €79,723 | +€1,951 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,218 | €104,719 | +€33,501 | +47.0% |
| Other operating charges | 640/8 | €7,161 | €5,268 | -€1,893 | -26.4% |
| Gross operating margin | 9900 | €115,441 | €144,990 | +€29,549 | +25.6% |
| Operating profit (loss) | 9901 | -€40,710 | -€44,720 | -€4,010 | -9.9% |
| Financial income | 75/76B | €23 | €9,509 | +€9,486 | +40887.0% |
| Recurring financial income | 75 | €23 | €8,509 | +€8,486 | +36576.6% |
| Non-recurring financial income | 76B | - | €1,000 | +€1,000 | |
| Financial charges | 65/66B | €5,698 | €12,442 | +€6,743 | +118.3% |
| Recurring financial charges | 65 | €5,698 | €12,442 | +€6,743 | +118.3% |
| Profit (loss) for the period before taxes | 9903 | -€46,385 | -€47,653 | -€1,268 | -2.7% |
| Income taxes | 67/77 | €1,082 | €2,847 | +€1,764 | +163.0% |
| Profit (loss) for the period | 9904 | -€47,467 | -€50,500 | -€3,032 | -6.4% |
| Transfer from tax-exempt reserves | 789 | €58,291 | - | -€58,291 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,824 | -€50,500 | -€61,323 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.