Keizer en Koning: 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.
Keizer en Koning
Largest movements
- Receivables within one year +€69,473
up €69,473 (+59.3%), from €117,236 to €186,709
of which Trade receivables: +€69,465
- Other debts +€174,152
up €174,152 (+62.2%), from €280,110 to €454,263
- Debts after one year -€101,316
down €101,316 (-27.5%), from €368,152 to €266,837
- Tax, wage and social debts -€31,040
down €31,040 (-58.4%), from €53,115 to €22,075
- Reserves +€17,693
up €17,693 (+27.7%), from €63,900 to €81,593
- Gross operating margin -€17,548
down €17,548 (-25.8%), from €67,971 to €50,424
- Taxes -€9,040
down €9,040 (-57.7%), from €15,675 to €6,635
- Financial charges +€6,096
up €6,096 (+33.4%), from €18,240 to €24,336
- Other operating charges +€1,264
up €1,264 (+255%), from €496 to €1,760
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 | €1,067,796 | €1,136,717 | +€68,920 | +6.5% |
| Fixed assets | 21/28 | €950,000 | €950,000 | = | 0.0% |
| Financial fixed assets | 28 | €950,000 | €950,000 | = | 0.0% |
| Current assets | 29/58 | €117,796 | €186,717 | +€68,920 | +58.5% |
| Amounts receivable within one year | 40/41 | €117,236 | €186,709 | +€69,473 | +59.3% |
| Trade receivables | 40 | €116,835 | €186,300 | +€69,465 | +59.5% |
| Other amounts receivable | 41 | €401 | €409 | +€8 | +2.1% |
| Cash at bank and in hand | 54/58 | €561 | €8 | -€553 | -98.6% |
| Total equity and liabilities | 10/49 | €1,067,796 | €1,136,717 | +€68,920 | +6.5% |
| Equity | 10/15 | €213,900 | €231,593 | +€17,693 | +8.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €63,900 | €81,593 | +€17,693 | +27.7% |
| Distributable reserves | 133 | €63,900 | €81,593 | +€17,693 | +27.7% |
| Amounts payable | 17/49 | €853,896 | €905,124 | +€51,228 | +6.0% |
| Amounts payable after more than one year | 17 | €368,152 | €266,837 | -€101,316 | -27.5% |
| Financial debts | 170/4 | €368,152 | €266,837 | -€101,316 | -27.5% |
| Amounts payable within one year | 42/48 | €481,890 | €629,870 | +€147,980 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €106,420 | €109,624 | +€3,204 | +3.0% |
| Trade debts | 44 | €42,245 | €43,909 | +€1,663 | +3.9% |
| Suppliers | 440/4 | €42,245 | €43,909 | +€1,663 | +3.9% |
| Taxes, remuneration and social security | 45 | €53,115 | €22,075 | -€31,040 | -58.4% |
| Taxes | 450/3 | €53,115 | €22,075 | -€31,040 | -58.4% |
| Other amounts payable | 47/48 | €280,110 | €454,263 | +€174,152 | +62.2% |
| Accrued charges and deferred income | 492/3 | €3,853 | €8,417 | +€4,564 | +118% |
| Other operating charges | 640/8 | €496 | €1,760 | +€1,264 | +255% |
| Gross operating margin | 9900 | €67,971 | €50,424 | -€17,548 | -25.8% |
| Operating profit (loss) | 9901 | €67,475 | €48,663 | -€18,812 | -27.9% |
| Financial income | 75/76B | €27 | - | -€27 | |
| Recurring financial income | 75 | €27 | - | -€27 | |
| Financial charges | 65/66B | €18,240 | €24,336 | +€6,096 | +33.4% |
| Recurring financial charges | 65 | €18,240 | €24,336 | +€6,096 | +33.4% |
| Profit (loss) for the period before taxes | 9903 | €49,263 | €24,328 | -€24,935 | -50.6% |
| Income taxes | 67/77 | €15,675 | €6,635 | -€9,040 | -57.7% |
| Profit (loss) for the period | 9904 | €33,588 | €17,693 | -€15,895 | -47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €33,588 | €17,693 | -€15,895 | -47.3% |
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.