LUC KEYZER IMMO: 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.
LUC KEYZER IMMO
Largest movements
- Receivables within one year -€158,136
down €158,136 (-8.9%), from €1.8m to €1.6m
of which Other amounts receivable: -€158,054
- Tax, wage and social debts -€119,411
no longer reported in 2025 (was €119,411)
- Financial income -€1.3m
down €1.3m (-99.9%), from €1.3m to €1,186
of which Non-recurring financial income: -€1.3m
- Taxes -€119,430
no longer reported in 2025 (was €119,430)
- Financial charges +€8,262
up €8,262 (+98.7%), from €8,367 to €16,629
- Other operating charges +€6,754
up €6,754 (+456%), from €1,482 to €8,236
- Gross operating margin -€5,054
down €5,054 (-19.0%), from €26,658 to €21,604
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 | €4,098,024 | €3,912,907 | -€185,117 | -4.5% |
| Fixed assets | 21/28 | €787,134 | €765,115 | -€22,019 | -2.8% |
| Tangible fixed assets | 22/27 | €787,134 | €765,115 | -€22,019 | -2.8% |
| Land and buildings | 22 | €787,134 | €765,115 | -€22,019 | -2.8% |
| Current assets | 29/58 | €3,310,889 | €3,147,791 | -€163,098 | -4.9% |
| Amounts receivable within one year | 40/41 | €1,774,474 | €1,616,339 | -€158,136 | -8.9% |
| Trade receivables | 40 | €1,918 | €1,836 | -€82 | -4.3% |
| Other amounts receivable | 41 | €1,772,556 | €1,614,503 | -€158,054 | -8.9% |
| Cash at bank and in hand | 54/58 | €1,532,595 | €1,530,007 | -€2,588 | -0.2% |
| Deferred charges and accrued income | 490/1 | €3,819 | €1,445 | -€2,374 | -62.2% |
| Total equity and liabilities | 10/49 | €4,098,024 | €3,912,907 | -€185,117 | -4.5% |
| Equity | 10/15 | €3,659,372 | €3,635,278 | -€24,094 | -0.7% |
| Contributions | 10/11 | €1,692,777 | €1,692,777 | = | 0.0% |
| Reserves | 13 | €1,795,650 | €1,795,650 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €1,758,150 | €1,758,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €170,945 | €146,851 | -€24,094 | -14.1% |
| Amounts payable | 17/49 | €438,651 | €277,628 | -€161,023 | -36.7% |
| Amounts payable after more than one year | 17 | €105,000 | €105,000 | = | 0.0% |
| Financial debts | 170/4 | €105,000 | €105,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €314,443 | €156,906 | -€157,537 | -50.1% |
| Trade debts | 44 | €5,464 | €2,993 | -€2,471 | -45.2% |
| Suppliers | 440/4 | €5,464 | €2,993 | -€2,471 | -45.2% |
| Taxes, remuneration and social security | 45 | €119,411 | - | -€119,411 | |
| Taxes | 450/3 | €119,411 | - | -€119,411 | |
| Other amounts payable | 47/48 | €189,569 | €153,913 | -€35,656 | -18.8% |
| Accrued charges and deferred income | 492/3 | €19,208 | €15,722 | -€3,486 | -18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,019 | €22,019 | = | 0.0% |
| Other operating charges | 640/8 | €1,482 | €8,236 | +€6,754 | +456% |
| Gross operating margin | 9900 | €26,658 | €21,604 | -€5,054 | -19.0% |
| Operating profit (loss) | 9901 | €3,157 | -€8,651 | -€11,808 | |
| Financial income | 75/76B | €1,318,987 | €1,186 | -€1.3m | -99.9% |
| Recurring financial income | 75 | €4,880 | €1,186 | -€3,694 | -75.7% |
| Non-recurring financial income | 76B | €1,314,107 | - | -€1.3m | |
| Financial charges | 65/66B | €8,367 | €16,629 | +€8,262 | +98.7% |
| Recurring financial charges | 65 | €8,367 | €16,629 | +€8,262 | +98.7% |
| Profit (loss) for the period before taxes | 9903 | €1,313,777 | -€24,094 | -€1.3m | |
| Income taxes | 67/77 | €119,430 | - | -€119,430 | |
| Profit (loss) for the period | 9904 | €1,194,347 | -€24,094 | -€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,194,347 | -€24,094 | -€1.2m |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.