DE KIEZEL: 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 KIEZEL
Largest movements
- Deferred charges and accrued income -€17,511
down €17,511 (-18.2%), from €96,383 to €78,872
- Receivables within one year +€10,243
up €10,243 (+17.4%), from €58,971 to €69,214
of which Trade receivables: +€9,583
- Cash +€9,954
up €9,954 (+9.3%), from €106,510 to €116,465
mainly Net result for the year (+€26,122) and Deferred charges and accrued income (+€17,511)
- Tangible fixed assets -€4,525
down €4,525 (-3.9%), from €115,917 to €111,392
of which Land and buildings: -€5,609
- Profit (loss) carried forward +€26,122
up €26,122 (+21.8%), from -€119,709 to -€93,587
- Trade debts -€15,812
down €15,812 (-22.9%), from €68,980 to €53,168
- Advances received -€8,762
down €8,762 (-10.6%), from €82,362 to €73,600
- Debts after one year -€3,785
down €3,785 (-19.1%), from €19,817 to €16,032
- Gross operating margin +€14,676
up €14,676 (+26.2%), from €56,123 to €70,800
- Staff costs +€1,411
up €1,411 (+4.3%), from €32,784 to €34,194
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 | €377,781 | €375,943 | -€1,838 | -0.5% |
| Fixed assets | 21/28 | €115,917 | €111,392 | -€4,525 | -3.9% |
| Tangible fixed assets | 22/27 | €115,917 | €111,392 | -€4,525 | -3.9% |
| Land and buildings | 22 | €115,917 | €110,308 | -€5,609 | -4.8% |
| Plant, machinery and equipment | 23 | - | €1,084 | +€1,084 | |
| Current assets | 29/58 | €261,864 | €264,551 | +€2,687 | +1.0% |
| Amounts receivable within one year | 40/41 | €58,971 | €69,214 | +€10,243 | +17.4% |
| Trade receivables | 40 | €58,929 | €68,512 | +€9,583 | +16.3% |
| Other amounts receivable | 41 | €42 | €703 | +€661 | +1,578% |
| Cash at bank and in hand | 54/58 | €106,510 | €116,465 | +€9,954 | +9.3% |
| Deferred charges and accrued income | 490/1 | €96,383 | €78,872 | -€17,511 | -18.2% |
| Total equity and liabilities | 10/49 | €377,781 | €375,943 | -€1,838 | -0.5% |
| Equity | 10/15 | €72,565 | €98,687 | +€26,122 | +36.0% |
| Contributions | 10/11 | €119,600 | €119,600 | = | 0.0% |
| Revaluation surpluses | 12 | €72,674 | €72,674 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€119,709 | -€93,587 | +€26,122 | +21.8% |
| Amounts payable | 17/49 | €305,216 | €277,256 | -€27,959 | -9.2% |
| Amounts payable after more than one year | 17 | €19,817 | €16,032 | -€3,785 | -19.1% |
| Financial debts | 170/4 | €19,817 | €16,032 | -€3,785 | -19.1% |
| Amounts payable within one year | 42/48 | €285,398 | €261,224 | -€24,175 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €3,700 | €3,785 | +€85 | +2.3% |
| Trade debts | 44 | €68,980 | €53,168 | -€15,812 | -22.9% |
| Suppliers | 440/4 | €68,980 | €53,168 | -€15,812 | -22.9% |
| Advances received on contracts in progress | 46 | €82,362 | €73,600 | -€8,762 | -10.6% |
| Taxes, remuneration and social security | 45 | €4,708 | €5,022 | +€314 | +6.7% |
| Taxes | 450/3 | €580 | €732 | +€153 | +26.4% |
| Remuneration and social security | 454/9 | €4,128 | €4,289 | +€161 | +3.9% |
| Other amounts payable | 47/48 | €125,649 | €125,649 | = | 0.0% |
| Non-recurring operating income | 76A | - | €2,204 | +€2,204 | |
| Remuneration, social security and pensions | 62 | €32,784 | €34,194 | +€1,411 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,609 | €5,718 | +€109 | +1.9% |
| Other operating charges | 640/8 | €3,516 | €3,820 | +€304 | +8.7% |
| Gross operating margin | 9900 | €56,123 | €70,800 | +€14,676 | +26.2% |
| Operating profit (loss) | 9901 | €14,214 | €27,067 | +€12,853 | +90.4% |
| Financial income | 75/76B | €68 | €292 | +€225 | +332% |
| Recurring financial income | 75 | €68 | €292 | +€225 | +332% |
| Financial charges | 65/66B | €1,346 | €1,238 | -€109 | -8.1% |
| Recurring financial charges | 65 | €1,346 | €1,118 | -€229 | -17.0% |
| Non-recurring financial charges | 66B | - | €120 | +€120 | |
| Profit (loss) for the period before taxes | 9903 | €12,936 | €26,122 | +€13,186 | +102% |
| Profit (loss) for the period | 9904 | €12,936 | €26,122 | +€13,186 | +102% |
| Profit (loss) for the period to be appropriated | 9905 | €12,936 | €26,122 | +€13,186 | +102% |
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 25 October 2026 via checked.be.