De Wolf Keukens: what changed
What changed
De Wolf Keukens
NACE 47.551, Retail sale of household furniture
filed annual accounts (NBB)
Net result for the year
€114,829
2024 · €72,992+€41,837
Equity
€793,989
2024 · €679,160+€114,829
Cash
€699,654
2024 · €447,895+€251,759
Balance sheet total
€1.8m
2024 · €1.6m+€141,465
Largest movements
Assets
- Cash +€251,759
up €251,759 (+56.2%), from €447,895 to €699,654
mainly Net result for the year (+€114,829) and Stocks and contracts (+€54,090)
- Stocks and contracts -€54,090
down €54,090 (-59.1%), from €91,535 to €37,445
of which Stocks: -€54,090
- Receivables within one year -€41,898
down €41,898 (-10.9%), from €384,651 to €342,753
of which Other amounts receivable: -€42,372
- Tangible fixed assets -€20,493
down €20,493 (-11.8%), from €172,946 to €152,453
of which Land and buildings: -€12,314
Equity and liabilities
- Reserves +€114,829
up €114,829 (+17.4%), from €660,560 to €775,389
of which Distributable reserves: +€114,829
- Trade debts -€54,557
down €54,557 (-31.5%), from €173,315 to €118,757
- Tax, wage and social debts +€50,471
up €50,471 (+52.1%), from €96,845 to €147,316
of which Remuneration and social security: +€30,405
- Other debts +€49,029
up €49,029 (+15.2%), from €322,449 to €371,478
- Provisions +€25,500
up €25,500 (+23.6%), from €108,000 to €133,500
Income statement
- Gross operating margin +€45,132
up €45,132 (+11.0%), from €410,160 to €455,293
- Taxes +€16,678
up €16,678 (+48.0%), from €34,744 to €51,422
- Depreciation -€12,846
down €12,846 (-33.6%), from €38,274 to €25,428
- Financial charges -€12,232
down €12,232 (-31.4%), from €38,958 to €26,727
- Financial income -€11,425
down €11,425 (-38.8%), from €29,426 to €18,001
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€72,992
Gross operating margin
+€45,132
Staff costs
-€1,285
Depreciation
+€12,846
Write-downs
-€1,500
Other operating charges
+€2,515
Financial income
-€11,425
Financial charges
+€12,232
Taxes
-€16,678
Result 2025
€114,829
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€283,801
Investment
-€11,122
Financing
-€20,920
Cash 2024
€447,895
From operations (derived)
+€283,801
Net result for the year
+€114,829
Depreciation
+€25,428
Stocks and contracts
+€54,090
Receivables within one year
+€41,898
Provisions
+€25,500
Trade debts
-€54,557
Tax, wage and social debts
+€50,471
Advances received
-€5,346
Other debts
+€49,029
Accrued charges and deferred income
-€17,541
Investment (derived)
-€11,122
Investment in fixed assets (net)
-€4,935
Current investments
-€6,188
Financing
-€20,920
Debts after one year
-€21,023
Current portion of long-term debt
+€104
Cash 2025
€699,654
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,631,991 | €1,773,456 | +€141,465 | +8.7% |
| Fixed assets | 21/28 | €175,411 | €154,918 | -€20,493 | -11.7% |
| Tangible fixed assets | 22/27 | €172,946 | €152,453 | -€20,493 | -11.8% |
| Land and buildings | 22 | €41,017 | €28,703 | -€12,314 | -30.0% |
| Plant, machinery and equipment | 23 | €474 | €1,808 | +€1,335 | +282% |
| Furniture and vehicles | 24 | €3,310 | €5,246 | +€1,935 | +58.5% |
| Leasing and similar rights | 25 | €127,304 | €116,696 | -€10,609 | -8.3% |
| Other tangible fixed assets | 26 | €840 | €0 | -€840 | -100% |
| Financial fixed assets | 28 | €2,465 | €2,465 | = | 0.0% |
| Current assets | 29/58 | €1,456,580 | €1,618,538 | +€161,958 | +11.1% |
| Stocks and contracts in progress | 3 | €91,535 | €37,445 | -€54,090 | -59.1% |
| Stocks | 30/36 | €91,535 | €37,445 | -€54,090 | -59.1% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €384,651 | €342,753 | -€41,898 | -10.9% |
| Trade receivables | 40 | €327,173 | €327,647 | +€474 | +0.1% |
| Other amounts receivable | 41 | €57,478 | €15,106 | -€42,372 | -73.7% |
| Current investments | 50/53 | €532,498 | €538,686 | +€6,188 | +1.2% |
| Cash at bank and in hand | 54/58 | €447,895 | €699,654 | +€251,759 | +56.2% |
| Total equity and liabilities | 10/49 | €1,631,991 | €1,773,456 | +€141,465 | +8.7% |
| Equity | 10/15 | €679,160 | €793,989 | +€114,829 | +16.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €660,560 | €775,389 | +€114,829 | +17.4% |
| Non-distributable reserves | 130/1 | €10,106 | €10,106 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,106 | €10,106 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,649 | €33,649 | = | 0.0% |
| Distributable reserves | 133 | €616,805 | €731,634 | +€114,829 | +18.6% |
| Provisions and deferred taxes | 16 | €108,000 | €133,500 | +€25,500 | +23.6% |
| Provisions for liabilities and charges | 160/5 | €108,000 | €133,500 | +€25,500 | +23.6% |
| Major repairs and maintenance | 162 | €100,000 | €125,000 | +€25,000 | +25.0% |
| Environmental obligations | 163 | €8,000 | €8,500 | +€500 | +6.3% |
| Amounts payable | 17/49 | €844,831 | €845,966 | +€1,136 | +0.1% |
| Amounts payable after more than one year | 17 | €33,400 | €12,377 | -€21,023 | -62.9% |
| Financial debts | 170/4 | €33,400 | €12,377 | -€21,023 | -62.9% |
| Amounts payable within one year | 42/48 | €774,872 | €814,573 | +€39,700 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €22,469 | €22,573 | +€104 | +0.5% |
| Trade debts | 44 | €173,315 | €118,757 | -€54,557 | -31.5% |
| Suppliers | 440/4 | €173,315 | €118,757 | -€54,557 | -31.5% |
| Advances received on contracts in progress | 46 | €159,794 | €154,448 | -€5,346 | -3.3% |
| Taxes, remuneration and social security | 45 | €96,845 | €147,316 | +€50,471 | +52.1% |
| Taxes | 450/3 | €46,963 | €67,030 | +€20,066 | +42.7% |
| Remuneration and social security | 454/9 | €49,882 | €80,286 | +€30,405 | +61.0% |
| Other amounts payable | 47/48 | €322,449 | €371,478 | +€49,029 | +15.2% |
| Accrued charges and deferred income | 492/3 | €36,558 | €19,017 | -€17,541 | -48.0% |
| Remuneration, social security and pensions | 62 | €224,897 | €226,182 | +€1,285 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,274 | €25,428 | -€12,846 | -33.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,000 | -€500 | +€1,500 | +75.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €25,000 | €25,000 | = | 0.0% |
| Other operating charges | 640/8 | €6,721 | €4,206 | -€2,515 | -37.4% |
| Gross operating margin | 9900 | €410,160 | €455,293 | +€45,132 | +11.0% |
| Operating profit (loss) | 9901 | €117,268 | €174,976 | +€57,708 | +49.2% |
| Financial income | 75/76B | €29,426 | €18,001 | -€11,425 | -38.8% |
| Recurring financial income | 75 | €29,426 | €18,001 | -€11,425 | -38.8% |
| Financial charges | 65/66B | €38,958 | €26,727 | -€12,232 | -31.4% |
| Recurring financial charges | 65 | €38,958 | €26,727 | -€12,232 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €107,736 | €166,251 | +€58,515 | +54.3% |
| Income taxes | 67/77 | €34,744 | €51,422 | +€16,678 | +48.0% |
| Profit (loss) for the period | 9904 | €72,992 | €114,829 | +€41,837 | +57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €72,992 | €114,829 | +€41,837 | +57.3% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.