KEPPENS - CALLAERT: 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.
KEPPENS - CALLAERT
Largest movements
- Receivables within one year +€10,142
up €10,142 (+826.1%), from €1,228 to €11,370
of which Trade receivables: +€7,750
- Tangible fixed assets -€7,700
down €7,700 (-8.6%), from €89,025 to €81,325
of which Land and buildings: -€8,000
- Deferred charges and accrued income +€2,103
up €2,103 (+60.8%), from €3,462 to €5,566
- Stocks and contracts -€2,000
no longer reported in 2025 (was €2,000)
- Cash -€1,982
down €1,982 (-7.1%), from €27,715 to €25,734
mainly Receivables within one year (-€10,142) and Other debts (-€4,565)
- Reserves +€6,231
up €6,231 (+13.1%), from €47,647 to €53,878
of which Distributable reserves: +€6,231
- Other debts -€4,565
down €4,565 (-8.4%), from €54,521 to €49,956
- Gross operating margin -€8,422
down €8,422 (-28.4%), from €29,668 to €21,246
- Taxes +€2,652
up €2,652 (+1133.1%), from €234 to €2,886
- Financial charges -€459
down €459 (-91.1%), from €504 to €45
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 | €123,430 | €123,994 | +€564 | +0.5% |
| Fixed assets | 21/28 | €89,025 | €81,325 | -€7,700 | -8.6% |
| Tangible fixed assets | 22/27 | €89,025 | €81,325 | -€7,700 | -8.6% |
| Land and buildings | 22 | €82,000 | €74,000 | -€8,000 | -9.8% |
| Plant, machinery and equipment | 23 | €7,025 | €5,753 | -€1,272 | -18.1% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | - | €1,572 | +€1,572 | |
| Current assets | 29/58 | €34,405 | €42,669 | +€8,264 | +24.0% |
| Stocks and contracts in progress | 3 | €2,000 | - | -€2,000 | |
| Contracts in progress | 37 | €2,000 | - | -€2,000 | |
| Amounts receivable within one year | 40/41 | €1,228 | €11,370 | +€10,142 | +826.1% |
| Trade receivables | 40 | €750 | €8,500 | +€7,750 | +1033.3% |
| Other amounts receivable | 41 | €478 | €2,870 | +€2,392 | +500.7% |
| Cash at bank and in hand | 54/58 | €27,715 | €25,734 | -€1,982 | -7.1% |
| Deferred charges and accrued income | 490/1 | €3,462 | €5,566 | +€2,103 | +60.8% |
| Total equity and liabilities | 10/49 | €123,430 | €123,994 | +€564 | +0.5% |
| Equity | 10/15 | €67,647 | €73,878 | +€6,231 | +9.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €47,647 | €53,878 | +€6,231 | +13.1% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €45,647 | €51,878 | +€6,231 | +13.7% |
| Amounts payable | 17/49 | €55,784 | €50,117 | -€5,667 | -10.2% |
| Amounts payable within one year | 42/48 | €55,784 | €50,117 | -€5,667 | -10.2% |
| Trade debts | 44 | €1,029 | €161 | -€869 | -84.4% |
| Suppliers | 440/4 | €1,029 | €161 | -€869 | -84.4% |
| Taxes, remuneration and social security | 45 | €234 | - | -€234 | |
| Taxes | 450/3 | €234 | - | -€234 | |
| Other amounts payable | 47/48 | €54,521 | €49,956 | -€4,565 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,272 | €9,307 | +€35 | +0.4% |
| Other operating charges | 640/8 | €2,719 | €2,788 | +€69 | +2.5% |
| Gross operating margin | 9900 | €29,668 | €21,246 | -€8,422 | -28.4% |
| Operating profit (loss) | 9901 | €17,677 | €9,152 | -€8,525 | -48.2% |
| Financial income | 75/76B | €3 | €10 | +€7 | +202.5% |
| Recurring financial income | 75 | €3 | €10 | +€7 | +202.5% |
| Financial charges | 65/66B | €504 | €45 | -€459 | -91.1% |
| Recurring financial charges | 65 | €504 | €45 | -€459 | -91.1% |
| Profit (loss) for the period before taxes | 9903 | €17,176 | €9,117 | -€8,059 | -46.9% |
| Income taxes | 67/77 | €234 | €2,886 | +€2,652 | +1133.1% |
| Profit (loss) for the period | 9904 | €16,942 | €6,231 | -€10,711 | -63.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,942 | €6,231 | -€10,711 | -63.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.