DE KEYZER - DRINKS: 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.
What changed
DE KEYZER - DRINKS
NACE 46.349, Wholesale of beverages, general range
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€109,395
2024 · €60,043-€169,437
Equity
€701,674
2024 · €811,069-€109,395
Cash
€161,662
2024 · €138,177+€23,485
Balance sheet total
€5.7m
2024 · €4.9m+€808,883
Largest movements
Assets
- Stocks and contracts +€273,942
up €273,942 (+15.4%), from €1.8m to €2.1m
- Tangible fixed assets +€270,018
up €270,018 (+19.5%), from €1.4m to €1.7m
of which Leasing and similar rights: +€363,323
- Intangible fixed assets +€188,388
up €188,388 (+90.5%), from €208,121 to €396,509
Equity and liabilities
- Trade debts +€589,634
up €589,634 (+43.6%), from €1.4m to €1.9m
- Debts after one year +€372,287
up €372,287 (+23.9%), from €1.6m to €1.9m
of which Financial debts: +€344,787
- Reserves -€109,395
down €109,395 (-14.6%), from €749,069 to €639,674
of which Distributable reserves: -€109,395
- Tax, wage and social debts -€102,051
down €102,051 (-30.8%), from €330,972 to €228,921
of which Taxes: -€52,603
Income statement
- Gross operating margin +€873,088
up €873,088 (+93.9%), from €929,893 to €1.8m
- Staff costs +€620,316
up €620,316 (+96.7%), from €641,762 to €1.3m
- Depreciation +€271,393
up €271,393 (+191%), from €142,091 to €413,484
- Write-downs +€86,390
up €86,390, from -€536 to €85,854
- Financial charges +€69,332
up €69,332 (+133%), from €52,012 to €121,344
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.
Result 2024
€60,043
Gross operating margin
+€873,088
Staff costs
-€620,316
Depreciation
-€271,393
Write-downs
-€86,390
Other operating charges
+€12,933
Other operating items
-€3,414
Financial income
-€4,359
Financial charges
-€69,332
Taxes
-€253
Result 2025
-€109,395
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€504,383
Investment
-€888,637
Financing
+€407,738
Cash 2024
€138,177
From operations (derived)
+€504,383
Net result for the year
-€109,395
Depreciation
+€413,484
Stocks and contracts
-€273,942
Receivables within one year
-€1,491
Deferred charges and accrued income
-€34,812
Trade debts
+€589,634
Tax, wage and social debts
-€102,051
Other debts
-€9,466
Accrued charges and deferred income
+€32,423
Investment (derived)
-€888,637
Investment in fixed assets (net)
-€869,581
Current investments
-€19,056
Financing
+€407,738
Debts after one year
+€372,287
Current portion of long-term debt
+€33,897
Short-term financial debts
+€1,554
Cash 2025
€161,662
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,865,871 | €5,674,754 | +€808,883 | +16.6% |
| Fixed assets | 21/28 | €1,659,186 | €2,115,282 | +€456,097 | +27.5% |
| Intangible fixed assets | 21 | €208,121 | €396,509 | +€188,388 | +90.5% |
| Tangible fixed assets | 22/27 | €1,384,456 | €1,654,474 | +€270,018 | +19.5% |
| Land and buildings | 22 | €106,990 | €96,703 | -€10,287 | -9.6% |
| Plant, machinery and equipment | 23 | €235,804 | €198,370 | -€37,434 | -15.9% |
| Furniture and vehicles | 24 | €54,608 | €42,194 | -€12,414 | -22.7% |
| Leasing and similar rights | 25 | €147,901 | €511,224 | +€363,323 | +246% |
| Other tangible fixed assets | 26 | €839,152 | €805,983 | -€33,170 | -4.0% |
| Financial fixed assets | 28 | €66,610 | €64,300 | -€2,310 | -3.5% |
| Current assets | 29/58 | €3,206,686 | €3,559,472 | +€352,787 | +11.0% |
| Stocks and contracts in progress | 3 | €1,779,462 | €2,053,404 | +€273,942 | +15.4% |
| Stocks | 30/36 | €1,779,462 | €2,053,404 | +€273,942 | +15.4% |
| Amounts receivable within one year | 40/41 | €1,254,694 | €1,256,186 | +€1,491 | +0.1% |
| Trade receivables | 40 | €945,454 | €787,700 | -€157,754 | -16.7% |
| Other amounts receivable | 41 | €309,240 | €468,485 | +€159,245 | +51.5% |
| Current investments | 50/53 | - | €19,056 | +€19,056 | |
| Cash at bank and in hand | 54/58 | €138,177 | €161,662 | +€23,485 | +17.0% |
| Deferred charges and accrued income | 490/1 | €34,352 | €69,164 | +€34,812 | +101% |
| Total equity and liabilities | 10/49 | €4,865,871 | €5,674,754 | +€808,883 | +16.6% |
| Equity | 10/15 | €811,069 | €701,674 | -€109,395 | -13.5% |
| 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 | €749,069 | €639,674 | -€109,395 | -14.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,033 | €7,033 | = | 0.0% |
| Distributable reserves | 133 | €735,836 | €626,441 | -€109,395 | -14.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,054,802 | €4,973,080 | +€918,278 | +22.6% |
| Amounts payable after more than one year | 17 | €1,554,809 | €1,927,097 | +€372,287 | +23.9% |
| Financial debts | 170/4 | €1,504,102 | €1,848,890 | +€344,787 | +22.9% |
| Other amounts payable | 178/9 | €50,707 | €78,207 | +€27,500 | +54.2% |
| Amounts payable within one year | 42/48 | €2,470,573 | €2,984,141 | +€513,568 | +20.8% |
| Current portion of amounts payable after more than one year | 42 | €278,991 | €312,888 | +€33,897 | +12.1% |
| Financial debts | 43 | €365,140 | €366,694 | +€1,554 | +0.4% |
| Credit institutions | 430/8 | €365,140 | €366,694 | +€1,554 | +0.4% |
| Trade debts | 44 | €1,351,956 | €1,941,590 | +€589,634 | +43.6% |
| Suppliers | 440/4 | €1,351,956 | €1,941,590 | +€589,634 | +43.6% |
| Taxes, remuneration and social security | 45 | €330,972 | €228,921 | -€102,051 | -30.8% |
| Taxes | 450/3 | €80,887 | €28,285 | -€52,603 | -65.0% |
| Remuneration and social security | 454/9 | €250,085 | €200,636 | -€49,448 | -19.8% |
| Other amounts payable | 47/48 | €143,514 | €134,048 | -€9,466 | -6.6% |
| Accrued charges and deferred income | 492/3 | €29,420 | €61,843 | +€32,423 | +110% |
| Non-recurring operating income | 76A | €413 | €71,818 | +€71,405 | +17,280% |
| Remuneration, social security and pensions | 62 | €641,762 | €1,262,078 | +€620,316 | +96.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,091 | €413,484 | +€271,393 | +191% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€536 | €85,854 | +€86,390 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €40,338 | €27,405 | -€12,933 | -32.1% |
| Non-recurring operating charges | 66A | €37 | €3,450 | +€3,414 | +9,337% |
| Gross operating margin | 9900 | €929,893 | €1,802,981 | +€873,088 | +93.9% |
| Operating profit (loss) | 9901 | €106,202 | €10,709 | -€95,493 | -89.9% |
| Financial income | 75/76B | €6,196 | €1,837 | -€4,359 | -70.4% |
| Recurring financial income | 75 | €6,196 | €1,837 | -€4,359 | -70.4% |
| Financial charges | 65/66B | €52,012 | €121,344 | +€69,332 | +133% |
| Recurring financial charges | 65 | €52,012 | €121,344 | +€69,332 | +133% |
| Profit (loss) for the period before taxes | 9903 | €60,386 | -€108,798 | -€169,184 | |
| Income taxes | 67/77 | €344 | €597 | +€253 | +73.7% |
| Profit (loss) for the period | 9904 | €60,043 | -€109,395 | -€169,437 | |
| Profit (loss) for the period to be appropriated | 9905 | €60,043 | -€109,395 | -€169,437 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.