Pascha Keukens: 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.
Pascha Keukens
Largest movements
- Tangible fixed assets -€72,172
down €72,172 (-14.3%), from €504,113 to €431,941
of which Land and buildings: -€71,219
- Cash +€24,946
up €24,946 (+660%), from €3,778 to €28,724
mainly Depreciation (+€83,360) and Other debts (+€50,908)
- Contributions -€56,616
down €56,616 (-27.7%), from €204,048 to €147,431
- Other debts +€50,908
up €50,908 (+342%), from €14,887 to €65,795
- Reserves -€26,419
down €26,419 (-24.0%), from €110,283 to €83,864
- Debts after one year -€15,781
down €15,781 (-8.1%), from €195,889 to €180,109
- Tax, wage and social debts +€5,872
up €5,872 (+247%), from €2,378 to €8,250
- Depreciation +€20,601
up €20,601 (+32.8%), from €62,759 to €83,360
- Gross operating margin +€11,013
up €11,013 (+11.6%), from €94,676 to €105,688
- Financial charges +€6,604
up €6,604 (+198%), from €3,328 to €9,931
- Other operating charges -€5,454
down €5,454 (-32.1%), from €17,001 to €11,547
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 | €541,208 | €493,056 | -€48,153 | -8.9% |
| Fixed assets | 21/28 | €506,113 | €433,941 | -€72,172 | -14.3% |
| Tangible fixed assets | 22/27 | €504,113 | €431,941 | -€72,172 | -14.3% |
| Land and buildings | 22 | €478,263 | €407,043 | -€71,219 | -14.9% |
| Plant, machinery and equipment | 23 | €4,048 | €3,096 | -€953 | -23.5% |
| Other tangible fixed assets | 26 | €21,802 | €21,802 | = | 0.0% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €35,096 | €59,114 | +€24,019 | +68.4% |
| Stocks and contracts in progress | 3 | €29,844 | €29,844 | = | 0.0% |
| Stocks | 30/36 | €29,844 | €29,844 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €864 | €547 | -€317 | -36.7% |
| Trade receivables | 40 | €864 | €547 | -€317 | -36.7% |
| Cash at bank and in hand | 54/58 | €3,778 | €28,724 | +€24,946 | +660% |
| Deferred charges and accrued income | 490/1 | €610 | - | -€610 | |
| Total equity and liabilities | 10/49 | €541,208 | €493,056 | -€48,153 | -8.9% |
| Equity | 10/15 | €314,331 | €231,296 | -€83,035 | -26.4% |
| Contributions | 10/11 | €204,048 | €147,431 | -€56,616 | -27.7% |
| Reserves | 13 | €110,283 | €83,864 | -€26,419 | -24.0% |
| Distributable reserves | 133 | €110,283 | €83,864 | -€26,419 | -24.0% |
| Amounts payable | 17/49 | €226,878 | €261,760 | +€34,882 | +15.4% |
| Amounts payable after more than one year | 17 | €195,889 | €180,109 | -€15,781 | -8.1% |
| Financial debts | 170/4 | €195,889 | €180,109 | -€15,781 | -8.1% |
| Amounts payable within one year | 42/48 | €30,988 | €81,651 | +€50,663 | +163% |
| Current portion of amounts payable after more than one year | 42 | €5,744 | €2,222 | -€3,522 | -61.3% |
| Trade debts | 44 | €7,980 | €5,385 | -€2,595 | -32.5% |
| Suppliers | 440/4 | €7,980 | €5,385 | -€2,595 | -32.5% |
| Taxes, remuneration and social security | 45 | €2,378 | €8,250 | +€5,872 | +247% |
| Taxes | 450/3 | €2,378 | €8,250 | +€5,872 | +247% |
| Other amounts payable | 47/48 | €14,887 | €65,795 | +€50,908 | +342% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,759 | €83,360 | +€20,601 | +32.8% |
| Other operating charges | 640/8 | €17,001 | €11,547 | -€5,454 | -32.1% |
| Gross operating margin | 9900 | €94,676 | €105,688 | +€11,013 | +11.6% |
| Operating profit (loss) | 9901 | €14,916 | €10,782 | -€4,134 | -27.7% |
| Financial income | 75/76B | €4 | €114 | +€110 | +3,044% |
| Recurring financial income | 75 | €4 | €114 | +€110 | +3,044% |
| Financial charges | 65/66B | €3,328 | €9,931 | +€6,604 | +198% |
| Recurring financial charges | 65 | €3,328 | €9,931 | +€6,604 | +198% |
| Profit (loss) for the period before taxes | 9903 | €11,592 | €965 | -€10,627 | -91.7% |
| Profit (loss) for the period | 9904 | €11,592 | €965 | -€10,627 | -91.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,592 | €965 | -€10,627 | -91.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.