DEKEYSER COUSINS: 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
DEKEYSER COUSINS
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.2m
2024 · €2.9m-€645,061
Equity
€14.4m
2024 · €12.1m+€2.2m
Cash
€280,560
2024 · €113,597+€166,962
Balance sheet total
€16.7m
2024 · €15.3m+€1.5m
Largest movements
Assets
- Financial fixed assets +€1.3m
up €1.3m (+16.2%), from €7.9m to €9.2m
- Receivables after one year -€614,500
down €614,500 (-25.5%), from €2.4m to €1.8m
- Current investments +€549,821
up €549,821 (+12.4%), from €4.5m to €5.0m
Equity and liabilities
- Reserves +€2.2m
up €2.2m (+18.6%), from €12.1m to €14.3m
of which Distributable reserves: +€2.2m
- Debts after one year -€468,000
down €468,000 (-26.0%), from €1.8m to €1.3m
of which Financial debts: -€900,000
- Other debts -€226,739
down €226,739 (-100%), from €226,739 to €0
Income statement
- Gross operating margin -€595,974
down €595,974 (-69.3%), from €859,371 to €263,398
- Financial income -€92,260
down €92,260 (-3.7%), from €2.5m to €2.4m
- Taxes -€92,115
down €92,115, from €89,853 to -€2,262
- Staff costs +€51,925
up €51,925 (+14.5%), from €358,093 to €410,018
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
€2.9m
Gross operating margin
-€595,974
Staff costs
-€51,925
Depreciation
-€1,528
Other operating charges
-€45
Financial income
-€92,260
Financial charges
+€4,555
Taxes
+€92,115
Result 2025
€2.2m
raises the resultlowers the result
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
+€2.5m
Investment
-€1.8m
Financing
-€468,000
Cash 2024
€113,597
From operations (derived)
+€2.5m
Net result for the year
+€2.2m
Depreciation
+€13,872
Receivables after one year
+€614,500
Receivables within one year
-€111,190
Smaller working-capital items
-€3,158
Trade debts
+€52,893
Tax, wage and social debts
-€118,383
Other debts
-€226,739
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€1.3m
Current investments
-€549,821
Financing
-€468,000
Debts after one year
-€468,000
Cash 2025
€280,560
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,263,303 | €16,749,862 | +€1.5m | +9.7% |
| Fixed assets | 21/28 | €7,906,667 | €9,175,241 | +€1.3m | +16.0% |
| Intangible fixed assets | 21 | €6,066 | €2,686 | -€3,379 | -55.7% |
| Tangible fixed assets | 22/27 | €14,755 | €11,709 | -€3,046 | -20.6% |
| Furniture and vehicles | 24 | €14,755 | €11,709 | -€3,046 | -20.6% |
| Financial fixed assets | 28 | €7,885,846 | €9,160,846 | +€1.3m | +16.2% |
| Current assets | 29/58 | €7,356,637 | €7,574,620 | +€217,984 | +3.0% |
| Amounts receivable after more than one year | 29 | €2,413,500 | €1,799,000 | -€614,500 | -25.5% |
| Other amounts receivable | 291 | €2,413,500 | €1,799,000 | -€614,500 | -25.5% |
| Amounts receivable within one year | 40/41 | €311,400 | €422,590 | +€111,190 | +35.7% |
| Trade receivables | 40 | €293,068 | €279,117 | -€13,951 | -4.8% |
| Other amounts receivable | 41 | €18,332 | €143,473 | +€125,141 | +683% |
| Current investments | 50/53 | €4,450,179 | €5,000,000 | +€549,821 | +12.4% |
| Cash at bank and in hand | 54/58 | €113,597 | €280,560 | +€166,962 | +147% |
| Deferred charges and accrued income | 490/1 | €67,960 | €72,471 | +€4,511 | +6.6% |
| Total equity and liabilities | 10/49 | €15,263,303 | €16,749,862 | +€1.5m | +9.7% |
| Equity | 10/15 | €12,135,357 | €14,380,791 | +€2.2m | +18.5% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €12,072,357 | €14,317,791 | +€2.2m | +18.6% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Distributable reserves | 133 | €12,066,057 | €14,311,491 | +€2.2m | +18.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,127,947 | €2,369,071 | -€758,876 | -24.3% |
| Amounts payable after more than one year | 17 | €1,800,000 | €1,332,000 | -€468,000 | -26.0% |
| Financial debts | 170/4 | €1,800,000 | €900,000 | -€900,000 | -50.0% |
| Other amounts payable | 178/9 | - | €432,000 | +€432,000 | |
| Amounts payable within one year | 42/48 | €1,307,559 | €1,015,330 | -€292,229 | -22.3% |
| Current portion of amounts payable after more than one year | 42 | €900,000 | €900,000 | = | 0.0% |
| Trade debts | 44 | €11,250 | €64,143 | +€52,893 | +470% |
| Suppliers | 440/4 | €11,250 | €64,143 | +€52,893 | +470% |
| Taxes, remuneration and social security | 45 | €169,570 | €51,187 | -€118,383 | -69.8% |
| Taxes | 450/3 | €121,491 | €2,211 | -€119,280 | -98.2% |
| Remuneration and social security | 454/9 | €48,079 | €48,976 | +€897 | +1.9% |
| Other amounts payable | 47/48 | €226,739 | €0 | -€226,739 | -100% |
| Accrued charges and deferred income | 492/3 | €20,388 | €21,741 | +€1,353 | +6.6% |
| Remuneration, social security and pensions | 62 | €358,093 | €410,018 | +€51,925 | +14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,344 | €13,872 | +€1,528 | +12.4% |
| Other operating charges | 640/8 | €1,669 | €1,714 | +€45 | +2.7% |
| Gross operating margin | 9900 | €859,371 | €263,398 | -€595,974 | -69.3% |
| Operating profit (loss) | 9901 | €487,265 | -€162,206 | -€649,471 | |
| Financial income | 75/76B | €2,511,458 | €2,419,198 | -€92,260 | -3.7% |
| Recurring financial income | 75 | €2,511,458 | €2,419,198 | -€92,260 | -3.7% |
| Financial charges | 65/66B | €18,374 | €13,819 | -€4,555 | -24.8% |
| Recurring financial charges | 65 | €18,374 | €13,819 | -€4,555 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €2,980,349 | €2,243,173 | -€737,176 | -24.7% |
| Income taxes | 67/77 | €89,853 | -€2,262 | -€92,115 | |
| Profit (loss) for the period | 9904 | €2,890,495 | €2,245,434 | -€645,061 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,890,495 | €2,245,434 | -€645,061 | -22.3% |
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 23 October 2026 via checked.be.