DE KEYSER: 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 KEYSER
Largest movements
- Cash +€68,858
up €68,858 (+36.0%), from €191,314 to €260,172
mainly Investment in fixed assets (net) (+€52,201) and Receivables after one year (+€51,753)
- Tangible fixed assets -€52,201
no longer reported in 2025 (was €52,201)
of which Furniture and vehicles: -€38,554
- Receivables after one year -€51,753
no longer reported in 2025 (was €51,753)
- Receivables within one year +€17,191
up €17,191 (+2022.4%), from €850 to €18,041
of which Other amounts receivable: +€17,042
- Deferred charges and accrued income -€4,500
no longer reported in 2025 (was €4,500)
- Other debts -€27,856
down €27,856 (-97.0%), from €28,728 to €871
- Reserves +€6,753
up €6,753 (+2.6%), from €259,209 to €265,962
of which Distributable reserves: +€6,753
- Taxes +€15,892
up €15,892 (+713.7%), from €2,227 to €18,118
- Gross operating margin +€11,785
up €11,785 (+28.7%), from €41,033 to €52,818
- Financial charges -€9,018
down €9,018 (-99.0%), from €9,109 to €91
- Depreciation -€8,773
no longer reported in 2025 (was €8,773)
- Other operating charges +€2,577
up €2,577 (+63.2%), from €4,080 to €6,657
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 | €303,118 | €280,712 | -€22,406 | -7.4% |
| Fixed assets | 21/28 | €54,701 | €2,500 | -€52,201 | -95.4% |
| Tangible fixed assets | 22/27 | €52,201 | - | -€52,201 | |
| Land and buildings | 22 | €13,647 | - | -€13,647 | |
| Furniture and vehicles | 24 | €38,554 | - | -€38,554 | |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €248,417 | €278,212 | +€29,796 | +12.0% |
| Amounts receivable after more than one year | 29 | €51,753 | - | -€51,753 | |
| Other amounts receivable | 291 | €51,753 | - | -€51,753 | |
| Amounts receivable within one year | 40/41 | €850 | €18,041 | +€17,191 | +2022.4% |
| Trade receivables | 40 | - | €149 | +€149 | |
| Other amounts receivable | 41 | €850 | €17,892 | +€17,042 | +2004.9% |
| Cash at bank and in hand | 54/58 | €191,314 | €260,172 | +€68,858 | +36.0% |
| Deferred charges and accrued income | 490/1 | €4,500 | - | -€4,500 | |
| Total equity and liabilities | 10/49 | €303,118 | €280,712 | -€22,406 | -7.4% |
| Equity | 10/15 | €271,617 | €278,362 | +€6,745 | +2.5% |
| Contributions | 10/11 | €12,408 | €12,400 | -€8 | -0.1% |
| Reserves | 13 | €259,209 | €265,962 | +€6,753 | +2.6% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €240,459 | €247,212 | +€6,753 | +2.8% |
| Amounts payable | 17/49 | €31,501 | €2,350 | -€29,151 | -92.5% |
| Amounts payable within one year | 42/48 | €31,501 | €2,201 | -€29,300 | -93.0% |
| Trade debts | 44 | €273 | €24 | -€249 | -91.1% |
| Suppliers | 440/4 | €273 | €24 | -€249 | -91.1% |
| Taxes, remuneration and social security | 45 | €2,500 | €1,305 | -€1,195 | -47.8% |
| Taxes | 450/3 | €2,500 | €1,305 | -€1,195 | -47.8% |
| Other amounts payable | 47/48 | €28,728 | €871 | -€27,856 | -97.0% |
| Accrued charges and deferred income | 492/3 | - | €149 | +€149 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,773 | - | -€8,773 | |
| Other operating charges | 640/8 | €4,080 | €6,657 | +€2,577 | +63.2% |
| Gross operating margin | 9900 | €41,033 | €52,818 | +€11,785 | +28.7% |
| Operating profit (loss) | 9901 | €28,180 | €46,161 | +€17,982 | +63.8% |
| Financial income | 75/76B | €4,941 | €4,902 | -€40 | -0.8% |
| Recurring financial income | 75 | €4,941 | €4,902 | -€40 | -0.8% |
| Financial charges | 65/66B | €9,109 | €91 | -€9,018 | -99.0% |
| Recurring financial charges | 65 | €9,109 | €91 | -€9,018 | -99.0% |
| Profit (loss) for the period before taxes | 9903 | €24,012 | €50,972 | +€26,960 | +112.3% |
| Income taxes | 67/77 | €2,227 | €18,118 | +€15,892 | +713.7% |
| Profit (loss) for the period | 9904 | €21,785 | €32,853 | +€11,068 | +50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,785 | €32,853 | +€11,068 | +50.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.