DS KEUKENS: 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.
DS KEUKENS
Largest movements
- Tangible fixed assets +€604,528
up €604,528 (+90.2%), from €670,073 to €1.3m
of which Land and buildings: +€609,766
- Cash -€31,494
down €31,494 (-98.2%), from €32,065 to €571
mainly Investment in fixed assets (net) (-€645,148) and Trade debts (-€489,556)
- Debts after one year +€1.1m
up €1.1m (+6,921%), from €15,601 to €1.1m
- Trade debts -€489,556
down €489,556 (-98.4%), from €497,457 to €7,901
- Profit (loss) carried forward -€78,148
down €78,148 (-199%), from -€39,327 to -€117,474
- Current portion of long-term debt +€46,840
up €46,840 (+1,054%), from €4,445 to €51,284
- Other debts +€25,000
new in 2025: €25,000
- Financial charges +€36,166
up €36,166 (+297%), from €12,169 to €48,336
- Depreciation +€31,516
up €31,516 (+346%), from €9,104 to €40,620
- Staff costs -€16,843
down €16,843 (-11.2%), from €150,302 to €133,459
- Other operating charges -€7,795
down €7,795 (-93.2%), from €8,366 to €571
- Gross operating margin +€5,609
up €5,609 (+4.1%), from €136,357 to €141,965
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 | €765,380 | €1,351,341 | +€585,961 | +76.6% |
| Fixed assets | 21/28 | €672,073 | €1,276,601 | +€604,528 | +89.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €670,073 | €1,274,601 | +€604,528 | +90.2% |
| Land and buildings | 22 | €642,590 | €1,252,357 | +€609,766 | +94.9% |
| Plant, machinery and equipment | 23 | €623 | €3,894 | +€3,272 | +526% |
| Furniture and vehicles | 24 | €11,601 | €5,737 | -€5,863 | -50.5% |
| Leasing and similar rights | 25 | €15,259 | €12,613 | -€2,646 | -17.3% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €93,307 | €74,740 | -€18,567 | -19.9% |
| Stocks and contracts in progress | 3 | €21,442 | €32,586 | +€11,144 | +52.0% |
| Stocks | 30/36 | €21,442 | €32,586 | +€11,144 | +52.0% |
| Amounts receivable within one year | 40/41 | €38,568 | €38,309 | -€259 | -0.7% |
| Trade receivables | 40 | €16,766 | €22,171 | +€5,405 | +32.2% |
| Other amounts receivable | 41 | €21,802 | €16,138 | -€5,664 | -26.0% |
| Cash at bank and in hand | 54/58 | €32,065 | €571 | -€31,494 | -98.2% |
| Deferred charges and accrued income | 490/1 | €1,231 | €3,273 | +€2,042 | +166% |
| Total equity and liabilities | 10/49 | €765,380 | €1,351,341 | +€585,961 | +76.6% |
| Equity | 10/15 | €230,864 | €152,717 | -€78,148 | -33.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €245,191 | €245,191 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €242,691 | €242,691 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,327 | -€117,474 | -€78,148 | -199% |
| Amounts payable | 17/49 | €534,515 | €1,198,624 | +€664,109 | +124% |
| Amounts payable after more than one year | 17 | €15,601 | €1,095,305 | +€1.1m | +6,921% |
| Financial debts | 170/4 | €15,601 | €1,095,305 | +€1.1m | +6,921% |
| Amounts payable within one year | 42/48 | €518,914 | €103,319 | -€415,595 | -80.1% |
| Current portion of amounts payable after more than one year | 42 | €4,445 | €51,284 | +€46,840 | +1,054% |
| Financial debts | 43 | - | €647 | +€647 | |
| Credit institutions | 430/8 | - | €647 | +€647 | |
| Trade debts | 44 | €497,457 | €7,901 | -€489,556 | -98.4% |
| Suppliers | 440/4 | €497,457 | €7,901 | -€489,556 | -98.4% |
| Taxes, remuneration and social security | 45 | €17,013 | €18,487 | +€1,474 | +8.7% |
| Taxes | 450/3 | €2,909 | €244 | -€2,665 | -91.6% |
| Remuneration and social security | 454/9 | €14,104 | €18,243 | +€4,139 | +29.3% |
| Other amounts payable | 47/48 | - | €25,000 | +€25,000 | |
| Remuneration, social security and pensions | 62 | €150,302 | €133,459 | -€16,843 | -11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,104 | €40,620 | +€31,516 | +346% |
| Other operating charges | 640/8 | €8,366 | €571 | -€7,795 | -93.2% |
| Gross operating margin | 9900 | €136,357 | €141,965 | +€5,609 | +4.1% |
| Operating profit (loss) | 9901 | -€31,415 | -€32,685 | -€1,269 | -4.0% |
| Financial income | 75/76B | €4,528 | €3,117 | -€1,411 | -31.2% |
| Recurring financial income | 75 | €4,528 | €3,117 | -€1,411 | -31.2% |
| Financial charges | 65/66B | €12,169 | €48,336 | +€36,166 | +297% |
| Recurring financial charges | 65 | €12,169 | €48,336 | +€36,166 | +297% |
| Profit (loss) for the period before taxes | 9903 | -€39,057 | -€77,903 | -€38,847 | -99.5% |
| Income taxes | 67/77 | €270 | €244 | -€26 | -9.4% |
| Profit (loss) for the period | 9904 | -€39,327 | -€78,148 | -€38,821 | -98.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,327 | -€78,148 | -€38,821 | -98.7% |
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 30 October 2026 via checked.be.