Laswerken Bart Keysers: 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.
Laswerken Bart Keysers
Largest movements
- Tangible fixed assets -€41,548
down €41,548 (-13.0%), from €320,767 to €279,219
- Cash -€8,372
down €8,372 (-83.0%), from €10,083 to €1,711
mainly Contributions, distributions and other (-€53,355) and Debts after one year (-€22,065)
- Reserves -€34,674
down €34,674 (-65.0%), from €53,355 to €18,681
- Debts after one year -€22,065
down €22,065 (-9.6%), from €228,835 to €206,769
- Trade debts +€4,379
up €4,379 (+1,824%), from €240 to €4,619
- Gross operating margin +€24,279
up €24,279 (+48.5%), from €50,043 to €74,322
- Taxes +€5,320
up €5,320 (+634%), from €839 to €6,159
- Other operating charges +€1,125
up €1,125 (+35.9%), from €3,131 to €4,256
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €369,492 | €317,146 | -€52,346 | -14.2% |
| Fixed assets | 21/28 | €320,767 | €279,219 | -€41,548 | -13.0% |
| Tangible fixed assets | 22/27 | €320,767 | €279,219 | -€41,548 | -13.0% |
| Plant, machinery and equipment | 23 | €21,009 | €9,115 | -€11,894 | -56.6% |
| Furniture and vehicles | 24 | €58,965 | €41,035 | -€17,930 | -30.4% |
| Other tangible fixed assets | 26 | €240,793 | €229,069 | -€11,724 | -4.9% |
| Current assets | 29/58 | €48,725 | €37,926 | -€10,799 | -22.2% |
| Stocks and contracts in progress | 3 | €8,985 | €7,746 | -€1,239 | -13.8% |
| Stocks | 30/36 | €8,985 | €7,746 | -€1,239 | -13.8% |
| Amounts receivable within one year | 40/41 | €28,548 | €27,315 | -€1,232 | -4.3% |
| Trade receivables | 40 | €28,548 | €27,315 | -€1,232 | -4.3% |
| Cash at bank and in hand | 54/58 | €10,083 | €1,711 | -€8,372 | -83.0% |
| Deferred charges and accrued income | 490/1 | €1,110 | €1,154 | +€44 | +4.0% |
| Total equity and liabilities | 10/49 | €369,492 | €317,146 | -€52,346 | -14.2% |
| Equity | 10/15 | €54,355 | €19,681 | -€34,674 | -63.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €53,355 | €18,681 | -€34,674 | -65.0% |
| Distributable reserves | 133 | €53,355 | €18,681 | -€34,674 | -65.0% |
| Amounts payable | 17/49 | €315,137 | €297,465 | -€17,672 | -5.6% |
| Amounts payable after more than one year | 17 | €228,835 | €206,769 | -€22,065 | -9.6% |
| Financial debts | 170/4 | €228,835 | €206,769 | -€22,065 | -9.6% |
| Amounts payable within one year | 42/48 | €86,302 | €90,695 | +€4,393 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €21,616 | €22,065 | +€450 | +2.1% |
| Trade debts | 44 | €240 | €4,619 | +€4,379 | +1,824% |
| Suppliers | 440/4 | €240 | €4,619 | +€4,379 | +1,824% |
| Taxes, remuneration and social security | 45 | €6,401 | €6,284 | -€117 | -1.8% |
| Taxes | 450/3 | €6,401 | €6,284 | -€117 | -1.8% |
| Other amounts payable | 47/48 | €58,045 | €57,727 | -€319 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,605 | €41,548 | -€58 | -0.1% |
| Other operating charges | 640/8 | €3,131 | €4,256 | +€1,125 | +35.9% |
| Gross operating margin | 9900 | €50,043 | €74,322 | +€24,279 | +48.5% |
| Operating profit (loss) | 9901 | €5,307 | €28,519 | +€23,212 | +437% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €4,122 | €3,679 | -€443 | -10.7% |
| Recurring financial charges | 65 | €4,122 | €3,679 | -€443 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €1,185 | €24,840 | +€23,655 | +1,996% |
| Income taxes | 67/77 | €839 | €6,159 | +€5,320 | +634% |
| Profit (loss) for the period | 9904 | €346 | €18,681 | +€18,335 | +5,294% |
| Profit (loss) for the period to be appropriated | 9905 | €346 | €18,681 | +€18,335 | +5,294% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.