DE KEYSER MANAGEMENT: 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 KEYSER MANAGEMENT
Largest movements
- Cash -€245,047
down €245,047 (-51.9%), from €472,500 to €227,453
mainly Investment in fixed assets (net) (-€242,540) and Other debts (-€101,789)
- Tangible fixed assets +€206,081
up €206,081 (+13.8%), from €1.5m to €1.7m
of which Land and buildings: +€198,260
- Other debts -€101,789
down €101,789 (-88.6%), from €114,899 to €13,110
- Profit (loss) carried forward +€48,656
up €48,656 (+5.2%), from €941,422 to €990,077
- Other operating charges -€24,169
down €24,169 (-47.5%), from €50,863 to €26,694
- Gross operating margin +€12,885
up €12,885 (+25.2%), from €51,088 to €63,973
- Depreciation +€9,613
up €9,613 (+35.8%), from €26,845 to €36,458
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 | €4,046,707 | €3,991,329 | -€55,378 | -1.4% |
| Fixed assets | 21/28 | €1,491,706 | €1,697,787 | +€206,081 | +13.8% |
| Tangible fixed assets | 22/27 | €1,491,706 | €1,697,787 | +€206,081 | +13.8% |
| Land and buildings | 22 | €1,395,951 | €1,594,211 | +€198,260 | +14.2% |
| Plant, machinery and equipment | 23 | €95,755 | €103,576 | +€7,821 | +8.2% |
| Current assets | 29/58 | €2,555,002 | €2,293,542 | -€261,460 | -10.2% |
| Amounts receivable within one year | 40/41 | €2,082,502 | €2,066,089 | -€16,413 | -0.8% |
| Trade receivables | 40 | - | €79,636 | +€79,636 | |
| Other amounts receivable | 41 | €2,082,502 | €1,986,453 | -€96,049 | -4.6% |
| Cash at bank and in hand | 54/58 | €472,500 | €227,453 | -€245,047 | -51.9% |
| Total equity and liabilities | 10/49 | €4,046,707 | €3,991,329 | -€55,378 | -1.4% |
| Equity | 10/15 | €3,918,771 | €3,967,427 | +€48,656 | +1.2% |
| 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 | €2,915,350 | €2,915,350 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €2,909,150 | €2,909,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €941,422 | €990,077 | +€48,656 | +5.2% |
| Amounts payable | 17/49 | €127,936 | €23,901 | -€104,034 | -81.3% |
| Amounts payable within one year | 42/48 | €127,936 | €23,901 | -€104,034 | -81.3% |
| Trade debts | 44 | €7,792 | €5,064 | -€2,729 | -35.0% |
| Suppliers | 440/4 | €7,792 | €5,064 | -€2,729 | -35.0% |
| Taxes, remuneration and social security | 45 | €5,244 | €5,728 | +€483 | +9.2% |
| Taxes | 450/3 | €5,244 | €5,728 | +€483 | +9.2% |
| Other amounts payable | 47/48 | €114,899 | €13,110 | -€101,789 | -88.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,845 | €36,458 | +€9,613 | +35.8% |
| Other operating charges | 640/8 | €50,863 | €26,694 | -€24,169 | -47.5% |
| Gross operating margin | 9900 | €51,088 | €63,973 | +€12,885 | +25.2% |
| Operating profit (loss) | 9901 | -€26,621 | €821 | +€27,442 | |
| Financial charges | 65/66B | €369 | €389 | +€19 | +5.2% |
| Recurring financial charges | 65 | €369 | €389 | +€19 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | -€26,990 | €433 | +€27,423 | |
| Income taxes | 67/77 | - | €459 | +€459 | |
| Profit (loss) for the period | 9904 | -€26,990 | -€26 | +€26,964 | +99.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,990 | -€26 | +€26,964 | +99.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.