Keppens Consulting: 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.
Keppens Consulting
Largest movements
- Current investments -€81,092
down €81,092 (-40.0%), from €202,535 to €121,443
- Cash +€63,140
up €63,140 (+80.6%), from €78,316 to €141,456
mainly Current investments (+€81,092) and Net result for the year (+€13,590)
- Receivables within one year +€7,347
up €7,347 (+29.7%), from €24,753 to €32,100
of which Trade receivables: +€10,000
- Reserves -€13,695
down €13,695 (-5.3%), from €257,275 to €243,581
of which Distributable reserves: -€11,835
- Other debts +€11,819
up €11,819 (+83.8%), from €14,101 to €25,921
- Tax, wage and social debts -€8,343
down €8,343 (-52.3%), from €15,954 to €7,610
- Gross operating margin -€53,121
down €53,121, from €35,579 to -€17,542
- Financial income +€40,664
up €40,664 (+9,171%), from €443 to €41,107
- Taxes -€6,970
down €6,970 (-53.2%), from €13,109 to €6,139
- Financial charges +€1,723
up €1,723 (+773%), from €223 to €1,945
- Depreciation -€503
down €503 (-29.6%), from €1,699 to €1,196
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 | €310,699 | €298,808 | -€11,891 | -3.8% |
| Fixed assets | 21/28 | €3,543 | €2,346 | -€1,196 | -33.8% |
| Tangible fixed assets | 22/27 | €2,548 | €1,351 | -€1,196 | -47.0% |
| Furniture and vehicles | 24 | €2,548 | €1,351 | -€1,196 | -47.0% |
| Financial fixed assets | 28 | €995 | €995 | = | 0.0% |
| Current assets | 29/58 | €307,156 | €296,461 | -€10,695 | -3.5% |
| Amounts receivable within one year | 40/41 | €24,753 | €32,100 | +€7,347 | +29.7% |
| Trade receivables | 40 | - | €10,000 | +€10,000 | |
| Other amounts receivable | 41 | €24,753 | €22,100 | -€2,653 | -10.7% |
| Current investments | 50/53 | €202,535 | €121,443 | -€81,092 | -40.0% |
| Cash at bank and in hand | 54/58 | €78,316 | €141,456 | +€63,140 | +80.6% |
| Deferred charges and accrued income | 490/1 | €1,552 | €1,462 | -€90 | -5.8% |
| Total equity and liabilities | 10/49 | €310,699 | €298,808 | -€11,891 | -3.8% |
| Equity | 10/15 | €275,875 | €262,181 | -€13,695 | -5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €257,275 | €243,581 | -€13,695 | -5.3% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €255,415 | €243,581 | -€11,835 | -4.6% |
| Amounts payable | 17/49 | €34,824 | €36,627 | +€1,803 | +5.2% |
| Amounts payable within one year | 42/48 | €34,811 | €36,612 | +€1,801 | +5.2% |
| Trade debts | 44 | €4,756 | €3,081 | -€1,674 | -35.2% |
| Suppliers | 440/4 | €4,756 | €3,081 | -€1,674 | -35.2% |
| Taxes, remuneration and social security | 45 | €15,954 | €7,610 | -€8,343 | -52.3% |
| Taxes | 450/3 | €15,954 | €7,610 | -€8,343 | -52.3% |
| Other amounts payable | 47/48 | €14,101 | €25,921 | +€11,819 | +83.8% |
| Accrued charges and deferred income | 492/3 | €13 | €15 | +€2 | +13.1% |
| Non-recurring operating income | 76A | €2,593 | - | -€2,593 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,699 | €1,196 | -€503 | -29.6% |
| Other operating charges | 640/8 | €528 | €694 | +€166 | +31.4% |
| Gross operating margin | 9900 | €35,579 | -€17,542 | -€53,121 | |
| Operating profit (loss) | 9901 | €33,352 | -€19,433 | -€52,785 | |
| Financial income | 75/76B | €443 | €41,107 | +€40,664 | +9,171% |
| Recurring financial income | 75 | €443 | €41,107 | +€40,664 | +9,171% |
| Financial charges | 65/66B | €223 | €1,945 | +€1,723 | +773% |
| Recurring financial charges | 65 | €223 | €1,945 | +€1,723 | +773% |
| Profit (loss) for the period before taxes | 9903 | €33,573 | €19,729 | -€13,843 | -41.2% |
| Income taxes | 67/77 | €13,109 | €6,139 | -€6,970 | -53.2% |
| Profit (loss) for the period | 9904 | €20,463 | €13,590 | -€6,873 | -33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,463 | €13,590 | -€6,873 | -33.6% |
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 22 October 2026 via checked.be.