ELEKTRO DE KEYSER: 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.
ELEKTRO DE KEYSER
Largest movements
- Tangible fixed assets +€20,490
up €20,490 (+5.2%), from €397,701 to €418,190
of which Furniture and vehicles: +€26,853
- Cash -€7,348
down €7,348 (-45.4%), from €16,170 to €8,822
mainly Investment in fixed assets (net) (-€38,218) and Receivables within one year (-€5,784)
- Receivables within one year +€5,784
up €5,784 (+237%), from €2,436 to €8,221
of which Trade receivables: +€4,983
- Other debts +€9,574
up €9,574 (+23.5%), from €40,803 to €50,377
- Current portion of long-term debt +€5,290
up €5,290 (+49.6%), from €10,669 to €15,960
- Gross operating margin -€15,953
down €15,953 (-32.2%), from €49,551 to €33,598
- Depreciation +€11,149
up €11,149 (+166%), from €6,700 to €17,848
- Financial charges +€4,581
up €4,581 (+42.6%), from €10,744 to €15,325
- Other operating charges -€1,890
down €1,890 (-75.0%), from €2,519 to €629
- Taxes -€849
down €849 (-49.5%), from €1,716 to €867
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 | €418,515 | €435,735 | +€17,220 | +4.1% |
| Fixed assets | 21/28 | €398,244 | €418,614 | +€20,370 | +5.1% |
| Intangible fixed assets | 21 | €543 | €423 | -€120 | -22.1% |
| Tangible fixed assets | 22/27 | €397,701 | €418,190 | +€20,490 | +5.2% |
| Land and buildings | 22 | €387,656 | €379,237 | -€8,420 | -2.2% |
| Plant, machinery and equipment | 23 | €2,354 | €4,411 | +€2,057 | +87.4% |
| Furniture and vehicles | 24 | €7,690 | €34,543 | +€26,853 | +349% |
| Current assets | 29/58 | €20,271 | €17,121 | -€3,150 | -15.5% |
| Amounts receivable within one year | 40/41 | €2,436 | €8,221 | +€5,784 | +237% |
| Trade receivables | 40 | €1,534 | €6,517 | +€4,983 | +325% |
| Other amounts receivable | 41 | €902 | €1,703 | +€801 | +88.8% |
| Cash at bank and in hand | 54/58 | €16,170 | €8,822 | -€7,348 | -45.4% |
| Deferred charges and accrued income | 490/1 | €1,665 | €79 | -€1,586 | -95.3% |
| Total equity and liabilities | 10/49 | €418,515 | €435,735 | +€17,220 | +4.1% |
| Equity | 10/15 | €29,872 | €29,010 | -€861 | -2.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,872 | €27,010 | -€861 | -3.1% |
| Amounts payable | 17/49 | €388,643 | €406,724 | +€18,081 | +4.7% |
| Amounts payable after more than one year | 17 | €315,023 | €315,247 | +€224 | +0.1% |
| Financial debts | 170/4 | €315,023 | €315,247 | +€224 | +0.1% |
| Amounts payable within one year | 42/48 | €73,620 | €91,477 | +€17,858 | +24.3% |
| Current portion of amounts payable after more than one year | 42 | €10,669 | €15,960 | +€5,290 | +49.6% |
| Trade debts | 44 | €941 | €744 | -€197 | -20.9% |
| Suppliers | 440/4 | €941 | €744 | -€197 | -20.9% |
| Taxes, remuneration and social security | 45 | €21,207 | €24,397 | +€3,190 | +15.0% |
| Taxes | 450/3 | €3,207 | €2,397 | -€810 | -25.3% |
| Remuneration and social security | 454/9 | €18,000 | €22,000 | +€4,000 | +22.2% |
| Other amounts payable | 47/48 | €40,803 | €50,377 | +€9,574 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,700 | €17,848 | +€11,149 | +166% |
| Other operating charges | 640/8 | €2,519 | €629 | -€1,890 | -75.0% |
| Gross operating margin | 9900 | €49,551 | €33,598 | -€15,953 | -32.2% |
| Operating profit (loss) | 9901 | €40,332 | €15,120 | -€25,212 | -62.5% |
| Financial income | 75/76B | €0 | €211 | +€211 | +2,105,300% |
| Recurring financial income | 75 | €0 | €211 | +€211 | +2,105,300% |
| Financial charges | 65/66B | €10,744 | €15,325 | +€4,581 | +42.6% |
| Recurring financial charges | 65 | €10,744 | €15,325 | +€4,581 | +42.6% |
| Profit (loss) for the period before taxes | 9903 | €29,588 | €6 | -€29,582 | -100.0% |
| Income taxes | 67/77 | €1,716 | €867 | -€849 | -49.5% |
| Profit (loss) for the period | 9904 | €27,872 | -€861 | -€28,733 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,872 | -€861 | -€28,733 |
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 29 October 2026 via checked.be.