DE KERKHOEVE: 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 KERKHOEVE
Largest movements
- Stocks and contracts -€34,912
down €34,912 (-28.0%), from €124,629 to €89,717
- Receivables within one year -€27,925
down €27,925 (-80.3%), from €34,780 to €6,855
of which Trade receivables: -€28,371
- Tangible fixed assets -€16,197
down €16,197 (-18.0%), from €90,068 to €73,871
of which Furniture and vehicles: -€11,882
- Cash +€8,606
up €8,606 (+10.6%), from €81,552 to €90,158
mainly Debts after one year (+€58,000) and Stocks and contracts (+€34,912)
- Trade debts -€67,723
down €67,723 (-41.6%), from €162,607 to €94,884
- Profit (loss) carried forward -€60,715
down €60,715 (-10.9%), from -€557,985 to -€618,700
- Debts after one year +€58,000
up €58,000 (+8.6%), from €675,000 to €733,000
- Gross operating margin -€58,479
down €58,479, from €21,135 to -€37,345
- Depreciation -€8,613
down €8,613 (-32.1%), from €26,810 to €18,197
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 | €333,465 | €263,320 | -€70,145 | -21.0% |
| Fixed assets | 21/28 | €90,068 | €73,871 | -€16,197 | -18.0% |
| Tangible fixed assets | 22/27 | €90,068 | €73,871 | -€16,197 | -18.0% |
| Land and buildings | 22 | €54,227 | €50,848 | -€3,379 | -6.2% |
| Plant, machinery and equipment | 23 | €937 | €0 | -€937 | -100% |
| Furniture and vehicles | 24 | €34,904 | €23,022 | -€11,882 | -34.0% |
| Current assets | 29/58 | €243,397 | €189,449 | -€53,948 | -22.2% |
| Stocks and contracts in progress | 3 | €124,629 | €89,717 | -€34,912 | -28.0% |
| Stocks | 30/36 | €124,629 | €89,717 | -€34,912 | -28.0% |
| Amounts receivable within one year | 40/41 | €34,780 | €6,855 | -€27,925 | -80.3% |
| Trade receivables | 40 | €33,611 | €5,240 | -€28,371 | -84.4% |
| Other amounts receivable | 41 | €1,169 | €1,615 | +€446 | +38.1% |
| Cash at bank and in hand | 54/58 | €81,552 | €90,158 | +€8,606 | +10.6% |
| Deferred charges and accrued income | 490/1 | €2,436 | €2,720 | +€284 | +11.6% |
| Total equity and liabilities | 10/49 | €333,465 | €263,320 | -€70,145 | -21.0% |
| Equity | 10/15 | -€507,565 | -€568,280 | -€60,715 | -12.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €420 | €420 | = | 0.0% |
| Distributable reserves | 133 | €420 | €420 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€557,985 | -€618,700 | -€60,715 | -10.9% |
| Amounts payable | 17/49 | €841,030 | €831,600 | -€9,430 | -1.1% |
| Amounts payable after more than one year | 17 | €675,000 | €733,000 | +€58,000 | +8.6% |
| Other amounts payable | 178/9 | €675,000 | €733,000 | +€58,000 | +8.6% |
| Amounts payable within one year | 42/48 | €166,030 | €98,600 | -€67,430 | -40.6% |
| Trade debts | 44 | €162,607 | €94,884 | -€67,723 | -41.6% |
| Suppliers | 440/4 | €162,607 | €94,884 | -€67,723 | -41.6% |
| Other amounts payable | 47/48 | €3,423 | €3,716 | +€293 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,810 | €18,197 | -€8,613 | -32.1% |
| Other operating charges | 640/8 | €4,756 | €5,065 | +€310 | +6.5% |
| Gross operating margin | 9900 | €21,135 | -€37,345 | -€58,479 | |
| Operating profit (loss) | 9901 | -€10,431 | -€60,607 | -€50,176 | -481% |
| Financial income | 75/76B | €0 | €10 | +€10 | +49,850% |
| Recurring financial income | 75 | €0 | €10 | +€10 | +49,850% |
| Financial charges | 65/66B | €110 | €118 | +€8 | +7.7% |
| Recurring financial charges | 65 | €110 | €118 | +€8 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | -€10,541 | -€60,715 | -€50,174 | -476% |
| Profit (loss) for the period | 9904 | -€10,541 | -€60,715 | -€50,174 | -476% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,541 | -€60,715 | -€50,174 | -476% |
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 18 October 2026 via checked.be.