KEES LIPS STABLES: what changed
Two fiscal 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.
KEES LIPS STABLES
Largest movements
- Receivables within one year -€39,629
down €39,629 (-76.3%), from €51,914 to €12,285
of which Trade receivables: -€42,225
- Stocks and contracts +€15,845
up €15,845 (+32.3%), from €48,980 to €64,825
- Cash -€9,887
down €9,887 (-15.0%), from €66,068 to €56,180
mainly Investment in fixed assets (net) (-€21,045) and Stocks and contracts (-€15,845)
- Trade debts -€15,448
down €15,448 (-15.0%), from €102,910 to €87,462
- Other debts -€7,745
down €7,745 (-78.4%), from €9,882 to €2,137
- Debts after one year -€4,315
down €4,315 (-18.9%), from €22,812 to €18,497
- Tax, wage and social debts -€3,446
down €3,446 (-43.3%), from €7,957 to €4,510
- Purchases and services -€58,811
down €58,811 (-8.7%), from €676,102 to €617,292
- Financial charges -€2,982
down €2,982 (-31.7%), from €9,397 to €6,415
- Gross operating margin -€853
down €853 (-2.2%), from €38,065 to €37,212
- Taxes +€782
up €782 (+32.8%), from €2,388 to €3,171
- Depreciation -€506
down €506 (-2.4%), from €21,378 to €20,871
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.
Cash bridge derived
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 | €281,765 | €248,324 | -€33,441 | -11.9% |
| Fixed assets | 21/28 | €113,518 | €113,691 | +€174 | +0.2% |
| Intangible fixed assets | 21 | €2,195 | €1,195 | -€1,000 | -45.6% |
| Tangible fixed assets | 22/27 | €111,323 | €112,497 | +€1,174 | +1.1% |
| Land and buildings | 22 | €93,376 | €81,317 | -€12,059 | -12.9% |
| Plant, machinery and equipment | 23 | €4,521 | €2,027 | -€2,494 | -55.2% |
| Furniture and vehicles | 24 | €13,018 | €28,949 | +€15,930 | +122.4% |
| Other tangible fixed assets | 26 | €407 | €204 | -€204 | -50.0% |
| Current assets | 29/58 | €168,247 | €134,633 | -€33,615 | -20.0% |
| Stocks and contracts in progress | 3 | €48,980 | €64,825 | +€15,845 | +32.3% |
| Stocks | 30/36 | €48,980 | €64,825 | +€15,845 | +32.3% |
| Amounts receivable within one year | 40/41 | €51,914 | €12,285 | -€39,629 | -76.3% |
| Trade receivables | 40 | €51,914 | €9,689 | -€42,225 | -81.3% |
| Other amounts receivable | 41 | - | €2,596 | +€2,596 | |
| Cash at bank and in hand | 54/58 | €66,068 | €56,180 | -€9,887 | -15.0% |
| Deferred charges and accrued income | 490/1 | €1,285 | €1,342 | +€57 | +4.4% |
| Total equity and liabilities | 10/49 | €281,765 | €248,324 | -€33,441 | -11.9% |
| Equity | 10/15 | €84,007 | €81,403 | -€2,604 | -3.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,469 | €43,865 | -€2,604 | -5.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €44,609 | €42,005 | -€2,604 | -5.8% |
| Profit (loss) carried forward | 14 | €31,338 | €31,338 | = | 0.0% |
| Amounts payable | 17/49 | €197,758 | €166,921 | -€30,837 | -15.6% |
| Amounts payable after more than one year | 17 | €22,812 | €18,497 | -€4,315 | -18.9% |
| Financial debts | 170/4 | €22,812 | €18,497 | -€4,315 | -18.9% |
| Amounts payable within one year | 42/48 | €174,947 | €148,424 | -€26,523 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €4,197 | €4,315 | +€117 | +2.8% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €102,910 | €87,462 | -€15,448 | -15.0% |
| Suppliers | 440/4 | €102,910 | €87,462 | -€15,448 | -15.0% |
| Taxes, remuneration and social security | 45 | €7,957 | €4,510 | -€3,446 | -43.3% |
| Taxes | 450/3 | €7,957 | €4,510 | -€3,446 | -43.3% |
| Other amounts payable | 47/48 | €9,882 | €2,137 | -€7,745 | -78.4% |
| Non-recurring operating income | 76A | - | €22,190 | +€22,190 | |
| Goods, raw materials, services and sundry goods | 60/61 | €676,102 | €617,292 | -€58,811 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,378 | €20,871 | -€506 | -2.4% |
| Other operating charges | 640/8 | €2,053 | €1,884 | -€169 | -8.2% |
| Gross operating margin | 9900 | €38,065 | €37,212 | -€853 | -2.2% |
| Operating profit (loss) | 9901 | €14,635 | €14,457 | -€178 | -1.2% |
| Financial income | 75/76B | €519 | €152 | -€367 | -70.7% |
| Recurring financial income | 75 | €519 | €152 | -€367 | -70.7% |
| Financial charges | 65/66B | €9,397 | €6,415 | -€2,982 | -31.7% |
| Recurring financial charges | 65 | €9,397 | €6,415 | -€2,982 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €5,757 | €8,194 | +€2,437 | +42.3% |
| Income taxes | 67/77 | €2,388 | €3,171 | +€782 | +32.8% |
| Profit (loss) for the period | 9904 | €3,369 | €5,023 | +€1,655 | +49.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,369 | €5,023 | +€1,655 | +49.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.