DEKEYZER 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.
DEKEYZER MANAGEMENT
Largest movements
- Current investments -€220,000
down €220,000 (-46.8%), from €470,000 to €250,000
- Tangible fixed assets -€56,958
down €56,958 (-2.3%), from €2.5m to €2.4m
of which Land and buildings: -€48,869
- Cash +€44,062
up €44,062 (+120%), from €36,660 to €80,722
mainly Current investments (+€220,000) and Depreciation (+€93,628)
- Other debts -€232,961
down €232,961 (-20.5%), from €1.1m to €906,035
- Debts after one year -€107,345
down €107,345 (-4.5%), from €2.4m to €2.3m
- Reserves +€41,133
up €41,133 (+15.3%), from €268,138 to €309,272
- Gross operating margin +€137,033
up €137,033 (+94.3%), from €145,303 to €282,336
- Financial charges +€64,272
up €64,272 (+92.5%), from €69,471 to €133,743
- Depreciation +€42,988
up €42,988 (+84.9%), from €50,640 to €93,628
- Other operating charges -€25,337
down €25,337 (-86.3%), from €29,343 to €4,006
- Taxes +€9,666
up €9,666 (+721%), from €1,341 to €11,007
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 | €3,942,115 | €3,672,566 | -€269,548 | -6.8% |
| Fixed assets | 21/28 | €3,237,241 | €3,180,282 | -€56,958 | -1.8% |
| Tangible fixed assets | 22/27 | €2,469,241 | €2,412,282 | -€56,958 | -2.3% |
| Land and buildings | 22 | €2,447,152 | €2,398,283 | -€48,869 | -2.0% |
| Plant, machinery and equipment | 23 | €648 | €392 | -€256 | -39.6% |
| Furniture and vehicles | 24 | €21,440 | €13,608 | -€7,833 | -36.5% |
| Financial fixed assets | 28 | €768,000 | €768,000 | = | 0.0% |
| Current assets | 29/58 | €704,874 | €492,284 | -€212,590 | -30.2% |
| Amounts receivable within one year | 40/41 | €198,214 | €161,562 | -€36,652 | -18.5% |
| Trade receivables | 40 | €50,000 | €0 | -€50,000 | -100% |
| Other amounts receivable | 41 | €148,214 | €161,562 | +€13,348 | +9.0% |
| Current investments | 50/53 | €470,000 | €250,000 | -€220,000 | -46.8% |
| Cash at bank and in hand | 54/58 | €36,660 | €80,722 | +€44,062 | +120% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,942,115 | €3,672,566 | -€269,548 | -6.8% |
| Equity | 10/15 | €271,138 | €312,272 | +€41,133 | +15.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €268,138 | €309,272 | +€41,133 | +15.3% |
| Distributable reserves | 133 | €268,138 | €309,272 | +€41,133 | +15.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,670,976 | €3,360,295 | -€310,682 | -8.5% |
| Amounts payable after more than one year | 17 | €2,405,958 | €2,298,613 | -€107,345 | -4.5% |
| Financial debts | 170/4 | €2,405,958 | €2,298,613 | -€107,345 | -4.5% |
| Amounts payable within one year | 42/48 | €1,265,018 | €1,059,932 | -€205,087 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €108,178 | €116,148 | +€7,971 | +7.4% |
| Trade debts | 44 | €941 | €20,273 | +€19,331 | +2,054% |
| Suppliers | 440/4 | €941 | €20,273 | +€19,331 | +2,054% |
| Taxes, remuneration and social security | 45 | €16,904 | €17,476 | +€572 | +3.4% |
| Taxes | 450/3 | €16,904 | €17,476 | +€572 | +3.4% |
| Other amounts payable | 47/48 | €1,138,996 | €906,035 | -€232,961 | -20.5% |
| Accrued charges and deferred income | 492/3 | - | €1,750 | +€1,750 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,640 | €93,628 | +€42,988 | +84.9% |
| Other operating charges | 640/8 | €29,343 | €4,006 | -€25,337 | -86.3% |
| Gross operating margin | 9900 | €145,303 | €282,336 | +€137,033 | +94.3% |
| Operating profit (loss) | 9901 | €65,321 | €184,702 | +€119,381 | +183% |
| Financial income | 75/76B | €6,507 | €1,182 | -€5,326 | -81.8% |
| Recurring financial income | 75 | €6,507 | €1,182 | -€5,326 | -81.8% |
| Financial charges | 65/66B | €69,471 | €133,743 | +€64,272 | +92.5% |
| Recurring financial charges | 65 | €69,471 | €133,743 | +€64,272 | +92.5% |
| Profit (loss) for the period before taxes | 9903 | €2,357 | €52,140 | +€49,784 | +2,113% |
| Income taxes | 67/77 | €1,341 | €11,007 | +€9,666 | +721% |
| Profit (loss) for the period | 9904 | €1,016 | €41,133 | +€40,118 | +3,950% |
| Profit (loss) for the period to be appropriated | 9905 | €1,016 | €41,133 | +€40,118 | +3,950% |
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 27 October 2026 via checked.be.