KEIZERSHOEK: 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.
KEIZERSHOEK
Largest movements
- Receivables within one year -€12,983
down €12,983 (-44.4%), from €29,257 to €16,274
of which Trade receivables: -€13,225
- Stocks and contracts -€3,320
down €3,320 (-39.3%), from €8,442 to €5,122
- Cash -€3,072
down €3,072 (-38.7%), from €7,947 to €4,875
mainly Net result for the year (-€29,924) and Trade debts (-€2,496)
- Tangible fixed assets -€630
down €630 (-68.6%), from €919 to €288
- Profit (loss) carried forward -€29,924
down €29,924 (-13.2%), from -€226,634 to -€256,558
- Debts after one year +€13,038
up €13,038 (+6.1%), from €214,018 to €227,056
- Trade debts -€2,496
down €2,496 (-14.3%), from €17,431 to €14,935
- Tax, wage and social debts -€632
down €632 (-2.7%), from €23,479 to €22,847
of which Taxes: -€812
- Staff costs -€21,854
down €21,854 (-15.2%), from €143,790 to €121,936
- Financial charges -€10,953
down €10,953 (-63.7%), from €17,206 to €6,253
- Financial income -€1,957
down €1,957 (-99.6%), from €1,965 to €7
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 | €48,745 | €28,782 | -€19,964 | -41.0% |
| Fixed assets | 21/28 | €919 | €288 | -€630 | -68.6% |
| Tangible fixed assets | 22/27 | €919 | €288 | -€630 | -68.6% |
| Plant, machinery and equipment | 23 | €919 | €288 | -€630 | -68.6% |
| Current assets | 29/58 | €47,827 | €28,493 | -€19,333 | -40.4% |
| Stocks and contracts in progress | 3 | €8,442 | €5,122 | -€3,320 | -39.3% |
| Stocks | 30/36 | €8,442 | €5,122 | -€3,320 | -39.3% |
| Amounts receivable within one year | 40/41 | €29,257 | €16,274 | -€12,983 | -44.4% |
| Trade receivables | 40 | €28,448 | €15,223 | -€13,225 | -46.5% |
| Other amounts receivable | 41 | €809 | €1,052 | +€242 | +30.0% |
| Current investments | 50/53 | €992 | €992 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,947 | €4,875 | -€3,072 | -38.7% |
| Deferred charges and accrued income | 490/1 | €1,189 | €1,230 | +€42 | +3.5% |
| Total equity and liabilities | 10/49 | €48,745 | €28,782 | -€19,964 | -41.0% |
| Equity | 10/15 | -€206,183 | -€236,106 | -€29,924 | -14.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€226,634 | -€256,558 | -€29,924 | -13.2% |
| Amounts payable | 17/49 | €254,928 | €264,888 | +€9,960 | +3.9% |
| Amounts payable after more than one year | 17 | €214,018 | €227,056 | +€13,038 | +6.1% |
| Financial debts | 170/4 | €214,018 | €227,056 | +€13,038 | +6.1% |
| Amounts payable within one year | 42/48 | €40,910 | €37,832 | -€3,078 | -7.5% |
| Trade debts | 44 | €17,431 | €14,935 | -€2,496 | -14.3% |
| Suppliers | 440/4 | €17,431 | €14,935 | -€2,496 | -14.3% |
| Taxes, remuneration and social security | 45 | €23,479 | €22,847 | -€632 | -2.7% |
| Taxes | 450/3 | €8,422 | €7,610 | -€812 | -9.6% |
| Remuneration and social security | 454/9 | €15,057 | €15,237 | +€180 | +1.2% |
| Other amounts payable | 47/48 | - | €50 | +€50 | |
| Non-recurring operating income | 76A | €10,577 | €16,265 | +€5,688 | +53.8% |
| Remuneration, social security and pensions | 62 | €143,790 | €121,936 | -€21,854 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €761 | €630 | -€130 | -17.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €140 | +€140 | |
| Other operating charges | 640/8 | €1,702 | €1,719 | +€18 | +1.0% |
| Gross operating margin | 9900 | €101,647 | €100,748 | -€899 | -0.9% |
| Operating profit (loss) | 9901 | -€44,606 | -€23,678 | +€20,928 | +46.9% |
| Financial income | 75/76B | €1,965 | €7 | -€1,957 | -99.6% |
| Recurring financial income | 75 | €1,965 | €7 | -€1,957 | -99.6% |
| Financial charges | 65/66B | €17,206 | €6,253 | -€10,953 | -63.7% |
| Recurring financial charges | 65 | €17,206 | €6,253 | -€10,953 | -63.7% |
| Profit (loss) for the period before taxes | 9903 | -€59,848 | -€29,924 | +€29,924 | +50.0% |
| Income taxes | 67/77 | -€10 | €0 | +€10 | |
| Profit (loss) for the period | 9904 | -€59,838 | -€29,924 | +€29,915 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,838 | -€29,924 | +€29,915 | +50.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.