DE KEUKELAERE: 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 KEUKELAERE
Largest movements
- Cash -€12,950
down €12,950 (-32.6%), from €39,750 to €26,800
mainly Debts after one year (-€24,000) and Tax, wage and social debts (-€536)
- Tangible fixed assets -€11,206
down €11,206 (-7.5%), from €149,644 to €138,438
- Debts after one year -€24,000
no longer reported in 2025 (was €24,000)
- Financial charges -€1,873
down €1,873 (-51.1%), from €3,667 to €1,793
- Gross operating margin +€1,487
up €1,487 (+8.9%), from €16,621 to €18,107
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 | €189,393 | €165,238 | -€24,155 | -12.8% |
| Fixed assets | 21/28 | €149,644 | €138,438 | -€11,206 | -7.5% |
| Tangible fixed assets | 22/27 | €149,644 | €138,438 | -€11,206 | -7.5% |
| Land and buildings | 22 | €149,644 | €138,438 | -€11,206 | -7.5% |
| Current assets | 29/58 | €39,750 | €26,800 | -€12,950 | -32.6% |
| Cash at bank and in hand | 54/58 | €39,750 | €26,800 | -€12,950 | -32.6% |
| Total equity and liabilities | 10/49 | €189,393 | €165,238 | -€24,155 | -12.8% |
| Equity | 10/15 | €161,983 | €161,734 | -€249 | -0.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €163,659 | €163,409 | -€249 | -0.2% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,872 | €3,423 | -€449 | -11.6% |
| Distributable reserves | 133 | €157,931 | €158,131 | +€200 | +0.1% |
| Profit (loss) carried forward | 14 | -€20,225 | -€20,225 | = | 0.0% |
| Provisions and deferred taxes | 16 | €1,994 | €1,763 | -€231 | -11.6% |
| Deferred taxes | 168 | €1,994 | €1,763 | -€231 | -11.6% |
| Amounts payable | 17/49 | €25,416 | €1,741 | -€23,675 | -93.1% |
| Amounts payable after more than one year | 17 | €24,000 | - | -€24,000 | |
| Financial debts | 170/4 | €24,000 | - | -€24,000 | |
| Amounts payable within one year | 42/48 | €1,416 | €1,741 | +€325 | +23.0% |
| Taxes, remuneration and social security | 45 | €1,083 | €547 | -€536 | -49.5% |
| Taxes | 450/3 | €1,083 | €547 | -€536 | -49.5% |
| Other amounts payable | 47/48 | €333 | €1,195 | +€861 | +258.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,206 | €11,206 | = | 0.0% |
| Other operating charges | 640/8 | €5,416 | €5,569 | +€153 | +2.8% |
| Gross operating margin | 9900 | €16,621 | €18,107 | +€1,487 | +8.9% |
| Operating profit (loss) | 9901 | -€1 | €1,332 | +€1,334 | |
| Financial charges | 65/66B | €3,667 | €1,793 | -€1,873 | -51.1% |
| Recurring financial charges | 65 | €3,667 | €1,793 | -€1,873 | -51.1% |
| Profit (loss) for the period before taxes | 9903 | -€3,668 | -€461 | +€3,207 | +87.4% |
| Transfer from deferred taxes | 780 | €231 | €231 | = | 0.0% |
| Income taxes | 67/77 | - | €20 | +€20 | |
| Profit (loss) for the period | 9904 | -€3,437 | -€249 | +€3,187 | +92.7% |
| Transfer from tax-exempt reserves | 789 | €449 | €449 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,987 | €200 | +€3,187 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.