MODELBOUW DEKEYSER: 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.
MODELBOUW DEKEYSER
Largest movements
- Stocks and contracts +€37,736
up €37,736 (+4.2%), from €906,872 to €944,608
- Reserves +€40,964
up €40,964 (+14.0%), from €293,000 to €333,964
- Other debts -€18,861
down €18,861 (-3.0%), from €635,801 to €616,940
- Accrued charges and deferred income +€15,707
new in 2025: €15,707
- Gross operating margin +€21,696
up €21,696 (+40.9%), from €52,995 to €74,691
- Taxes +€4,227
up €4,227 (+61.2%), from €6,905 to €11,132
- Financial income -€1,138
down €1,138 (-20.3%), from €5,619 to €4,481
- Financial charges -€886
down €886 (-4.6%), from €19,197 to €18,311
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 | €967,600 | €1,003,194 | +€35,594 | +3.7% |
| Fixed assets | 21/28 | €21,137 | €18,300 | -€2,837 | -13.4% |
| Tangible fixed assets | 22/27 | €21,002 | €18,165 | -€2,837 | -13.5% |
| Land and buildings | 22 | €21,002 | €18,165 | -€2,837 | -13.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €946,463 | €984,894 | +€38,431 | +4.1% |
| Stocks and contracts in progress | 3 | €906,872 | €944,608 | +€37,736 | +4.2% |
| Stocks | 30/36 | €906,872 | €944,608 | +€37,736 | +4.2% |
| Amounts receivable within one year | 40/41 | €15,256 | €14,638 | -€618 | -4.0% |
| Trade receivables | 40 | €1,854 | €2,054 | +€200 | +10.8% |
| Other amounts receivable | 41 | €13,402 | €12,584 | -€818 | -6.1% |
| Cash at bank and in hand | 54/58 | €22,776 | €24,044 | +€1,268 | +5.6% |
| Deferred charges and accrued income | 490/1 | €1,559 | €1,604 | +€45 | +2.9% |
| Total equity and liabilities | 10/49 | €967,600 | €1,003,194 | +€35,594 | +3.7% |
| Equity | 10/15 | €313,486 | €354,450 | +€40,964 | +13.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €293,000 | €333,964 | +€40,964 | +14.0% |
| Distributable reserves | 133 | €293,000 | €333,964 | +€40,964 | +14.0% |
| Profit (loss) carried forward | 14 | €26 | €26 | = | 0.0% |
| Amounts payable | 17/49 | €654,114 | €648,744 | -€5,370 | -0.8% |
| Amounts payable within one year | 42/48 | €654,114 | €633,037 | -€21,077 | -3.2% |
| Trade debts | 44 | €4,360 | €5,503 | +€1,143 | +26.2% |
| Suppliers | 440/4 | €4,360 | €5,503 | +€1,143 | +26.2% |
| Advances received on contracts in progress | 46 | - | €118 | +€118 | |
| Taxes, remuneration and social security | 45 | €13,953 | €10,476 | -€3,477 | -24.9% |
| Taxes | 450/3 | €11,753 | €10,476 | -€1,277 | -10.9% |
| Remuneration and social security | 454/9 | €2,200 | €0 | -€2,200 | -100.0% |
| Other amounts payable | 47/48 | €635,801 | €616,940 | -€18,861 | -3.0% |
| Accrued charges and deferred income | 492/3 | - | €15,707 | +€15,707 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,061 | €2,837 | -€224 | -7.3% |
| Other operating charges | 640/8 | €2,242 | €2,596 | +€354 | +15.8% |
| Gross operating margin | 9900 | €52,995 | €74,691 | +€21,696 | +40.9% |
| Operating profit (loss) | 9901 | €47,691 | €69,257 | +€21,566 | +45.2% |
| Financial income | 75/76B | €5,619 | €4,481 | -€1,138 | -20.3% |
| Recurring financial income | 75 | €5,619 | €4,481 | -€1,138 | -20.3% |
| Financial charges | 65/66B | €19,197 | €18,311 | -€886 | -4.6% |
| Recurring financial charges | 65 | €19,197 | €18,311 | -€886 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €34,114 | €55,427 | +€21,314 | +62.5% |
| Income taxes | 67/77 | €6,905 | €11,132 | +€4,227 | +61.2% |
| Profit (loss) for the period | 9904 | €27,209 | €44,296 | +€17,087 | +62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,209 | €44,296 | +€17,087 | +62.8% |
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 11 October 2026 via checked.be.