PRINCESS 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.
PRINCESS KEUKENS
Largest movements
- Stocks and contracts -€111,020
down €111,020 (-37.3%), from €297,978 to €186,958
of which Contracts in progress: -€127,895
- Receivables within one year +€91,655
up €91,655 (+43.2%), from €212,032 to €303,687
of which Other amounts receivable: +€49,182
- Cash -€46,068
down €46,068 (-8.5%), from €542,093 to €496,025
mainly Investment in fixed assets (net) (-€144,302) and Receivables within one year (-€91,655)
- Tangible fixed assets +€45,532
up €45,532 (+6.0%), from €754,320 to €799,852
of which Furniture and vehicles: +€38,771
- Deferred charges and accrued income -€21,883
down €21,883 (-46.2%), from €47,322 to €25,439
- Trade debts -€61,180
down €61,180 (-11.1%), from €552,855 to €491,675
- Other debts -€52,052
down €52,052 (-16.9%), from €307,454 to €255,402
- Debts after one year +€50,531
up €50,531 (+9.7%), from €522,096 to €572,628
- Reserves +€27,949
up €27,949 (+21.7%), from €128,885 to €156,834
- Advances received -€24,186
down €24,186 (-27.9%), from €86,817 to €62,631
- Gross operating margin +€96,555
up €96,555 (+29.8%), from €323,698 to €420,254
- Depreciation +€29,302
up €29,302 (+48.1%), from €60,861 to €90,163
- Staff costs +€19,167
up €19,167 (+9.3%), from €205,394 to €224,561
- Other operating charges +€17,875
up €17,875 (+131%), from €13,616 to €31,491
- Taxes +€7,585
up €7,585 (+58.1%), from €13,043 to €20,628
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 | €1,855,544 | €1,822,367 | -€33,177 | -1.8% |
| Fixed assets | 21/28 | €756,120 | €810,259 | +€54,139 | +7.2% |
| Intangible fixed assets | 21 | - | €8,607 | +€8,607 | |
| Tangible fixed assets | 22/27 | €754,320 | €799,852 | +€45,532 | +6.0% |
| Land and buildings | 22 | €691,102 | €700,044 | +€8,943 | +1.3% |
| Plant, machinery and equipment | 23 | €5,884 | €4,217 | -€1,667 | -28.3% |
| Furniture and vehicles | 24 | €3,048 | €41,818 | +€38,771 | +1,272% |
| Other tangible fixed assets | 26 | €54,287 | €53,773 | -€514 | -0.9% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €1,099,424 | €1,012,108 | -€87,316 | -7.9% |
| Stocks and contracts in progress | 3 | €297,978 | €186,958 | -€111,020 | -37.3% |
| Stocks | 30/36 | €47,366 | €64,241 | +€16,875 | +35.6% |
| Contracts in progress | 37 | €250,612 | €122,717 | -€127,895 | -51.0% |
| Amounts receivable within one year | 40/41 | €212,032 | €303,687 | +€91,655 | +43.2% |
| Trade receivables | 40 | €172,453 | €214,927 | +€42,473 | +24.6% |
| Other amounts receivable | 41 | €39,578 | €88,760 | +€49,182 | +124% |
| Cash at bank and in hand | 54/58 | €542,093 | €496,025 | -€46,068 | -8.5% |
| Deferred charges and accrued income | 490/1 | €47,322 | €25,439 | -€21,883 | -46.2% |
| Total equity and liabilities | 10/49 | €1,855,544 | €1,822,367 | -€33,177 | -1.8% |
| Equity | 10/15 | €154,146 | €182,094 | +€27,949 | +18.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €128,885 | €156,834 | +€27,949 | +21.7% |
| Distributable reserves | 133 | €128,885 | €156,834 | +€27,949 | +21.7% |
| Profit (loss) carried forward | 14 | €260 | €260 | = | 0.0% |
| Amounts payable | 17/49 | €1,701,399 | €1,640,273 | -€61,126 | -3.6% |
| Amounts payable after more than one year | 17 | €522,096 | €572,628 | +€50,531 | +9.7% |
| Financial debts | 170/4 | €522,096 | €572,628 | +€50,531 | +9.7% |
| Amounts payable within one year | 42/48 | €1,176,667 | €1,064,281 | -€112,387 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €100,231 | €119,356 | +€19,125 | +19.1% |
| Financial debts | 43 | €76,421 | €80,421 | +€4,000 | +5.2% |
| Credit institutions | 430/8 | €76,421 | €80,421 | +€4,000 | +5.2% |
| Trade debts | 44 | €552,855 | €491,675 | -€61,180 | -11.1% |
| Suppliers | 440/4 | €552,855 | €491,675 | -€61,180 | -11.1% |
| Advances received on contracts in progress | 46 | €86,817 | €62,631 | -€24,186 | -27.9% |
| Taxes, remuneration and social security | 45 | €52,890 | €54,796 | +€1,906 | +3.6% |
| Taxes | 450/3 | €36,405 | €32,911 | -€3,494 | -9.6% |
| Remuneration and social security | 454/9 | €16,485 | €21,885 | +€5,400 | +32.8% |
| Other amounts payable | 47/48 | €307,454 | €255,402 | -€52,052 | -16.9% |
| Accrued charges and deferred income | 492/3 | €2,635 | €3,365 | +€730 | +27.7% |
| Non-recurring operating income | 76A | €103,137 | €105,636 | +€2,499 | +2.4% |
| Remuneration, social security and pensions | 62 | €205,394 | €224,561 | +€19,167 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,861 | €90,163 | +€29,302 | +48.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €13,616 | €31,491 | +€17,875 | +131% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €323,698 | €420,254 | +€96,555 | +29.8% |
| Operating profit (loss) | 9901 | €43,828 | €74,039 | +€30,211 | +68.9% |
| Financial income | 75/76B | €17,908 | €14,157 | -€3,751 | -20.9% |
| Recurring financial income | 75 | €17,908 | €14,157 | -€3,751 | -20.9% |
| Financial charges | 65/66B | €32,484 | €29,935 | -€2,549 | -7.8% |
| Recurring financial charges | 65 | €32,484 | €29,935 | -€2,549 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €29,252 | €58,261 | +€29,009 | +99.2% |
| Income taxes | 67/77 | €13,043 | €20,628 | +€7,585 | +58.1% |
| Profit (loss) for the period | 9904 | €16,209 | €37,633 | +€21,424 | +132% |
| Profit (loss) for the period to be appropriated | 9905 | €16,209 | €37,633 | +€21,424 | +132% |
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 30 October 2026 via checked.be.