DE KEUKELEIRE: 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 KEUKELEIRE
Largest movements
- Receivables within one year -€48,984
down €48,984 (-50.3%), from €97,465 to €48,481
of which Other amounts receivable: -€51,709
- Cash -€19,490
down €19,490 (-46.5%), from €41,908 to €22,417
mainly Contributions, distributions and other (-€68,273) and Debts after one year (-€12,688)
- Tangible fixed assets -€10,079
down €10,079 (-17.0%), from €59,427 to €49,348
of which Leasing and similar rights: -€9,730
- Reserves -€68,273
down €68,273 (-68.1%), from €100,227 to €31,955
of which Non-distributable reserves: -€68,273
- Debts after one year -€12,688
down €12,688 (-43.3%), from €29,324 to €16,635
- Profit (loss) carried forward -€4,976
down €4,976 (-20.9%), from €23,841 to €18,865
- Tax, wage and social debts +€4,352
up €4,352 (+291%), from €1,493 to €5,846
- Financial income -€2,831
no longer reported in 2025 (was €2,831)
- Gross operating margin -€2,589
down €2,589 (-19.5%), from €13,306 to €10,716
- Other operating charges -€1,827
down €1,827 (-46.9%), from €3,892 to €2,065
- Financial charges -€304
down €304 (-15.5%), from €1,957 to €1,652
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 | €203,061 | €123,298 | -€79,763 | -39.3% |
| Fixed assets | 21/28 | €59,562 | €49,483 | -€10,079 | -16.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €59,427 | €49,348 | -€10,079 | -17.0% |
| Land and buildings | 22 | €748 | €598 | -€150 | -20.0% |
| Plant, machinery and equipment | 23 | €300 | €100 | -€200 | -66.7% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Leasing and similar rights | 25 | €58,379 | €48,650 | -€9,730 | -16.7% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €143,499 | €73,815 | -€69,684 | -48.6% |
| Amounts receivable within one year | 40/41 | €97,465 | €48,481 | -€48,984 | -50.3% |
| Trade receivables | 40 | €36,365 | €39,090 | +€2,725 | +7.5% |
| Other amounts receivable | 41 | €61,101 | €9,391 | -€51,709 | -84.6% |
| Cash at bank and in hand | 54/58 | €41,908 | €22,417 | -€19,490 | -46.5% |
| Deferred charges and accrued income | 490/1 | €4,126 | €2,917 | -€1,209 | -29.3% |
| Total equity and liabilities | 10/49 | €203,061 | €123,298 | -€79,763 | -39.3% |
| Equity | 10/15 | €149,068 | €75,820 | -€73,249 | -49.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €100,227 | €31,955 | -€68,273 | -68.1% |
| Non-distributable reserves | 130/1 | €82,227 | €13,955 | -€68,273 | -83.0% |
| Reserves not available under the articles | 1311 | €82,227 | €13,955 | -€68,273 | -83.0% |
| Tax-exempt reserves | 132 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,841 | €18,865 | -€4,976 | -20.9% |
| Amounts payable | 17/49 | €53,992 | €47,478 | -€6,514 | -12.1% |
| Amounts payable after more than one year | 17 | €29,324 | €16,635 | -€12,688 | -43.3% |
| Financial debts | 170/4 | €29,324 | €16,635 | -€12,688 | -43.3% |
| Amounts payable within one year | 42/48 | €24,669 | €30,843 | +€6,174 | +25.0% |
| Current portion of amounts payable after more than one year | 42 | €12,688 | €12,688 | = | 0.0% |
| Trade debts | 44 | €10,487 | €12,309 | +€1,822 | +17.4% |
| Suppliers | 440/4 | €10,487 | €12,309 | +€1,822 | +17.4% |
| Taxes, remuneration and social security | 45 | €1,493 | €5,846 | +€4,352 | +291% |
| Taxes | 450/3 | €1,493 | €5,846 | +€4,352 | +291% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,079 | €10,079 | = | 0.0% |
| Other operating charges | 640/8 | €3,892 | €2,065 | -€1,827 | -46.9% |
| Gross operating margin | 9900 | €13,306 | €10,716 | -€2,589 | -19.5% |
| Operating profit (loss) | 9901 | -€666 | -€1,428 | -€762 | -114% |
| Financial income | 75/76B | €2,831 | - | -€2,831 | |
| Recurring financial income | 75 | €2,831 | - | -€2,831 | |
| Financial charges | 65/66B | €1,957 | €1,652 | -€304 | -15.5% |
| Recurring financial charges | 65 | €1,957 | €1,652 | -€304 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €209 | -€3,080 | -€3,289 | |
| Income taxes | 67/77 | €1,891 | €1,896 | +€5 | +0.3% |
| Profit (loss) for the period | 9904 | -€1,682 | -€4,976 | -€3,294 | -196% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,682 | -€4,976 | -€3,294 | -196% |
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 14 October 2026 via checked.be.