DE KEPPER: what changed
Two fiscal 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 KEPPER
Largest movements
- Cash +€37,102
up €37,102 (+23.7%), from €156,322 to €193,425
mainly Net result for the year (+€32,661) and Deferred charges and accrued income (+€22,594)
- Deferred charges and accrued income -€22,594
down €22,594 (-85.1%), from €26,535 to €3,942
- Stocks and contracts +€3,198
up €3,198 (+3.7%), from €85,325 to €88,523
- Reserves +€29,336
up €29,336 (+15.5%), from €189,592 to €218,929
of which Distributable reserves: +€29,336
- Debts after one year -€9,000
down €9,000 (-50.0%), from €18,000 to €9,000
- Other debts -€8,536
no longer reported in 2025 (was €8,536)
- Tax, wage and social debts +€6,411
up €6,411 (+58.9%), from €10,876 to €17,287
- Gross operating margin +€31,760
up €31,760 (+176.9%), from €17,957 to €49,717
- Taxes +€12,720
up €12,720 (+687.6%), from €1,850 to €14,569
- Staff costs +€2,014
up €2,014, from -€1,855 to €159
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 | €291,322 | €307,933 | +€16,611 | +5.7% |
| Fixed assets | 21/28 | €23,139 | €20,099 | -€3,040 | -13.1% |
| Tangible fixed assets | 22/27 | €23,139 | €20,099 | -€3,040 | -13.1% |
| Land and buildings | 22 | €22,021 | €19,537 | -€2,484 | -11.3% |
| Furniture and vehicles | 24 | €1,118 | €562 | -€556 | -49.7% |
| Current assets | 29/58 | €268,183 | €287,834 | +€19,651 | +7.3% |
| Stocks and contracts in progress | 3 | €85,325 | €88,523 | +€3,198 | +3.7% |
| Stocks | 30/36 | €85,325 | €88,523 | +€3,198 | +3.7% |
| Amounts receivable within one year | 40/41 | - | €1,944 | +€1,944 | |
| Other amounts receivable | 41 | - | €1,944 | +€1,944 | |
| Cash at bank and in hand | 54/58 | €156,322 | €193,425 | +€37,102 | +23.7% |
| Deferred charges and accrued income | 490/1 | €26,535 | €3,942 | -€22,594 | -85.1% |
| Total equity and liabilities | 10/49 | €291,322 | €307,933 | +€16,611 | +5.7% |
| Equity | 10/15 | €251,592 | €280,929 | +€29,336 | +11.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €189,592 | €218,929 | +€29,336 | +15.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €187 | €187 | = | 0.0% |
| Distributable reserves | 133 | €183,206 | €212,542 | +€29,336 | +16.0% |
| Amounts payable | 17/49 | €39,730 | €27,004 | -€12,726 | -32.0% |
| Amounts payable after more than one year | 17 | €18,000 | €9,000 | -€9,000 | -50.0% |
| Financial debts | 170/4 | €18,000 | €9,000 | -€9,000 | -50.0% |
| Amounts payable within one year | 42/48 | €21,730 | €18,004 | -€3,726 | -17.1% |
| Trade debts | 44 | €2,317 | €716 | -€1,601 | -69.1% |
| Suppliers | 440/4 | €2,317 | €716 | -€1,601 | -69.1% |
| Taxes, remuneration and social security | 45 | €10,876 | €17,287 | +€6,411 | +58.9% |
| Taxes | 450/3 | €10,876 | €17,287 | +€6,411 | +58.9% |
| Other amounts payable | 47/48 | €8,536 | - | -€8,536 | |
| Remuneration, social security and pensions | 62 | -€1,855 | €159 | +€2,014 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,564 | €8,163 | -€401 | -4.7% |
| Other operating charges | 640/8 | €1,248 | €1,278 | +€30 | +2.4% |
| Non-recurring operating charges | 66A | €63 | - | -€63 | |
| Gross operating margin | 9900 | €17,957 | €49,717 | +€31,760 | +176.9% |
| Operating profit (loss) | 9901 | €9,936 | €40,116 | +€30,180 | +303.7% |
| Financial income | 75/76B | €8,361 | €8,745 | +€384 | +4.6% |
| Recurring financial income | 75 | €8,361 | €8,745 | +€384 | +4.6% |
| Financial charges | 65/66B | €1,560 | €1,630 | +€70 | +4.5% |
| Recurring financial charges | 65 | €1,560 | €1,630 | +€70 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €16,737 | €47,231 | +€30,494 | +182.2% |
| Income taxes | 67/77 | €1,850 | €14,569 | +€12,720 | +687.6% |
| Profit (loss) for the period | 9904 | €14,887 | €32,661 | +€17,774 | +119.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,887 | €32,661 | +€17,774 | +119.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.