Robbe Keirse: 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.
Robbe Keirse
Largest movements
- Tangible fixed assets -€10,270
down €10,270 (-2.3%), from €455,260 to €444,990
of which Land and buildings: -€9,832
- Receivables within one year +€8,952
up €8,952 (+186%), from €4,826 to €13,778
of which Trade receivables: +€7,916
- Debts after one year -€16,202
down €16,202 (-3.5%), from €457,212 to €441,010
- Profit (loss) carried forward +€7,856
up €7,856, from -€7,856 to €0
- Reserves +€5,379
new in 2025: €5,379
- Gross operating margin +€12,096
up €12,096 (+35.3%), from €34,217 to €46,313
- Taxes +€1,465
new in 2025: €1,465
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 | €478,582 | €473,052 | -€5,531 | -1.2% |
| Fixed assets | 21/28 | €455,260 | €444,990 | -€10,270 | -2.3% |
| Tangible fixed assets | 22/27 | €455,260 | €444,990 | -€10,270 | -2.3% |
| Land and buildings | 22 | €454,150 | €444,319 | -€9,832 | -2.2% |
| Plant, machinery and equipment | 23 | €1,110 | €672 | -€439 | -39.5% |
| Current assets | 29/58 | €23,322 | €28,061 | +€4,740 | +20.3% |
| Amounts receivable within one year | 40/41 | €4,826 | €13,778 | +€8,952 | +186% |
| Trade receivables | 40 | €4,608 | €12,524 | +€7,916 | +172% |
| Other amounts receivable | 41 | €218 | €1,254 | +€1,036 | +475% |
| Cash at bank and in hand | 54/58 | €17,115 | €14,284 | -€2,831 | -16.5% |
| Deferred charges and accrued income | 490/1 | €1,381 | €0 | -€1,381 | -100% |
| Total equity and liabilities | 10/49 | €478,582 | €473,052 | -€5,531 | -1.2% |
| Equity | 10/15 | -€2,856 | €10,379 | +€13,234 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €5,379 | +€5,379 | |
| Distributable reserves | 133 | - | €5,379 | +€5,379 | |
| Profit (loss) carried forward | 14 | -€7,856 | €0 | +€7,856 | |
| Amounts payable | 17/49 | €481,438 | €462,673 | -€18,765 | -3.9% |
| Amounts payable after more than one year | 17 | €457,212 | €441,010 | -€16,202 | -3.5% |
| Financial debts | 170/4 | €457,212 | €441,010 | -€16,202 | -3.5% |
| Amounts payable within one year | 42/48 | €24,226 | €21,663 | -€2,562 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €17,731 | €18,154 | +€423 | +2.4% |
| Financial debts | 43 | - | €812 | +€812 | |
| Credit institutions | 430/8 | - | €812 | +€812 | |
| Trade debts | 44 | €1,244 | €831 | -€413 | -33.2% |
| Suppliers | 440/4 | €1,244 | €831 | -€413 | -33.2% |
| Taxes, remuneration and social security | 45 | €5,251 | €1,867 | -€3,384 | -64.4% |
| Taxes | 450/3 | €3,751 | €1,867 | -€1,884 | -50.2% |
| Remuneration and social security | 454/9 | €1,500 | €0 | -€1,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,163 | €18,495 | +€333 | +1.8% |
| Other operating charges | 640/8 | €2,023 | €2,151 | +€129 | +6.4% |
| Gross operating margin | 9900 | €34,217 | €46,313 | +€12,096 | +35.3% |
| Operating profit (loss) | 9901 | €14,032 | €25,666 | +€11,634 | +82.9% |
| Financial income | 75/76B | €46 | €21 | -€25 | -53.5% |
| Recurring financial income | 75 | €46 | €21 | -€25 | -53.5% |
| Financial charges | 65/66B | €11,296 | €10,989 | -€307 | -2.7% |
| Recurring financial charges | 65 | €11,296 | €10,989 | -€307 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €2,782 | €14,699 | +€11,917 | +428% |
| Income taxes | 67/77 | - | €1,465 | +€1,465 | |
| Profit (loss) for the period | 9904 | €2,782 | €13,234 | +€10,452 | +376% |
| Profit (loss) for the period to be appropriated | 9905 | €2,782 | €13,234 | +€10,452 | +376% |
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 19 October 2026 via checked.be.