KEPPENS GROEP: 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 GROEP
Largest movements
- Current investments -€660,000
down €660,000 (-40.7%), from €1.6m to €960,000
- Receivables within one year +€621,404
up €621,404 (+55.5%), from €1.1m to €1.7m
- Other debts -€81,440
down €81,440 (-2.9%), from €2.8m to €2.7m
- Financial income +€34,264
up €34,264 (+151%), from €22,729 to €56,993
- Financial charges +€2,229
up €2,229 (+6.3%), from €35,552 to €37,781
- Gross operating margin -€1,576
down €1,576 (-87.1%), from -€1,809 to -€3,385
- Depreciation -€816
down €816 (-100%), from €816 to €0
- Other operating charges +€323
up €323 (+31.0%), from €1,043 to €1,366
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 | €7,462,031 | €7,397,867 | -€64,163 | -0.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €4,678,453 | €4,678,453 | = | 0.0% |
| Financial fixed assets | 28 | €4,678,453 | €4,678,453 | = | 0.0% |
| Current assets | 29/58 | €2,783,577 | €2,719,414 | -€64,163 | -2.3% |
| Amounts receivable within one year | 40/41 | €1,119,173 | €1,740,578 | +€621,404 | +55.5% |
| Other amounts receivable | 41 | €1,119,173 | €1,740,578 | +€621,404 | +55.5% |
| Current investments | 50/53 | €1,620,000 | €960,000 | -€660,000 | -40.7% |
| Cash at bank and in hand | 54/58 | €21,675 | €1,261 | -€20,414 | -94.2% |
| Deferred charges and accrued income | 490/1 | €22,729 | €17,575 | -€5,154 | -22.7% |
| Total equity and liabilities | 10/49 | €7,462,031 | €7,397,867 | -€64,163 | -0.9% |
| Equity | 10/15 | €4,631,961 | €4,646,423 | +€14,462 | +0.3% |
| Contributions | 10/11 | €4,678,453 | €4,678,453 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,492 | -€32,030 | +€14,462 | +31.1% |
| Amounts payable | 17/49 | €2,830,069 | €2,751,444 | -€78,625 | -2.8% |
| Amounts payable within one year | 42/48 | €2,796,595 | €2,716,447 | -€80,148 | -2.9% |
| Trade debts | 44 | €2,706 | €3,997 | +€1,292 | +47.8% |
| Suppliers | 440/4 | €2,706 | €3,997 | +€1,292 | +47.8% |
| Other amounts payable | 47/48 | €2,793,890 | €2,712,449 | -€81,440 | -2.9% |
| Accrued charges and deferred income | 492/3 | €33,474 | €34,998 | +€1,523 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €816 | €0 | -€816 | -100% |
| Other operating charges | 640/8 | €1,043 | €1,366 | +€323 | +31.0% |
| Gross operating margin | 9900 | -€1,809 | -€3,385 | -€1,576 | -87.1% |
| Operating profit (loss) | 9901 | -€3,667 | -€4,750 | -€1,083 | -29.5% |
| Financial income | 75/76B | €22,729 | €56,993 | +€34,264 | +151% |
| Recurring financial income | 75 | €22,729 | €56,993 | +€34,264 | +151% |
| Financial charges | 65/66B | €35,552 | €37,781 | +€2,229 | +6.3% |
| Recurring financial charges | 65 | €35,552 | €37,781 | +€2,229 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | -€16,490 | €14,462 | +€30,952 | |
| Profit (loss) for the period | 9904 | -€16,490 | €14,462 | +€30,952 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,490 | €14,462 | +€30,952 |
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 14 October 2026 via checked.be.