STIJN KETELE ENGINEERING: 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.
STIJN KETELE ENGINEERING
Largest movements
- Tangible fixed assets -€4,720
down €4,720 (-13.9%), from €33,908 to €29,187
of which Other tangible fixed assets: -€2,775
- Cash -€3,703
down €3,703 (-32.0%), from €11,585 to €7,882
mainly Contributions, distributions and other (-€43,493) and Debts after one year (-€7,561)
- Receivables within one year -€2,164
down €2,164 (-6.3%), from €34,438 to €32,274
of which Other amounts receivable: -€6,403
- Debts after one year -€7,561
down €7,561 (-79.8%), from €9,469 to €1,909
- Short-term financial debts -€7,124
down €7,124 (-100.0%), from €7,124 to €0
- Contributions -€5,000
down €5,000 (-50.0%), from €10,000 to €5,000
- Reserves +€4,266
up €4,266 (+11.1%), from €38,493 to €42,758
- Other debts +€3,138
up €3,138 (+14.6%), from €21,466 to €24,604
- Gross operating margin +€5,905
up €5,905 (+10.8%), from €54,603 to €60,508
- Taxes +€979
up €979 (+9.1%), from €10,706 to €11,686
- Other operating charges -€723
down €723 (-52.1%), from €1,389 to €665
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 | €98,818 | €88,432 | -€10,386 | -10.5% |
| Fixed assets | 21/28 | €33,908 | €29,187 | -€4,720 | -13.9% |
| Tangible fixed assets | 22/27 | €33,908 | €29,187 | -€4,720 | -13.9% |
| Furniture and vehicles | 24 | €4,127 | €2,181 | -€1,946 | -47.2% |
| Other tangible fixed assets | 26 | €29,781 | €27,007 | -€2,775 | -9.3% |
| Current assets | 29/58 | €64,910 | €59,244 | -€5,666 | -8.7% |
| Amounts receivable after more than one year | 29 | €18,000 | €18,000 | = | 0.0% |
| Trade receivables | 290 | €18,000 | - | -€18,000 | |
| Other amounts receivable | 291 | - | €18,000 | +€18,000 | |
| Amounts receivable within one year | 40/41 | €34,438 | €32,274 | -€2,164 | -6.3% |
| Trade receivables | 40 | €28,035 | €32,274 | +€4,239 | +15.1% |
| Other amounts receivable | 41 | €6,403 | €0 | -€6,403 | -100.0% |
| Current investments | 50/53 | €34 | €41 | +€7 | +20.5% |
| Cash at bank and in hand | 54/58 | €11,585 | €7,882 | -€3,703 | -32.0% |
| Deferred charges and accrued income | 490/1 | €853 | €1,047 | +€194 | +22.8% |
| Total equity and liabilities | 10/49 | €98,818 | €88,432 | -€10,386 | -10.5% |
| Equity | 10/15 | €48,493 | €47,758 | -€734 | -1.5% |
| Contributions | 10/11 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Reserves | 13 | €38,493 | €42,758 | +€4,266 | +11.1% |
| Distributable reserves | 133 | €38,493 | €42,758 | +€4,266 | +11.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,325 | €40,673 | -€9,652 | -19.2% |
| Amounts payable after more than one year | 17 | €9,469 | €1,909 | -€7,561 | -79.8% |
| Financial debts | 170/4 | €9,469 | €1,909 | -€7,561 | -79.8% |
| Amounts payable within one year | 42/48 | €40,856 | €38,765 | -€2,091 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €7,445 | €7,561 | +€116 | +1.6% |
| Financial debts | 43 | €7,124 | €0 | -€7,124 | -100.0% |
| Other loans | 439 | €7,124 | €0 | -€7,124 | -100.0% |
| Trade debts | 44 | €251 | €240 | -€11 | -4.3% |
| Suppliers | 440/4 | €251 | €240 | -€11 | -4.3% |
| Taxes, remuneration and social security | 45 | €4,570 | €6,360 | +€1,790 | +39.2% |
| Taxes | 450/3 | €4,087 | €6,360 | +€2,273 | +55.6% |
| Remuneration and social security | 454/9 | €483 | €0 | -€483 | -100.0% |
| Other amounts payable | 47/48 | €21,466 | €24,604 | +€3,138 | +14.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €691 | €0 | -€691 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,873 | €4,720 | -€153 | -3.1% |
| Other operating charges | 640/8 | €1,389 | €665 | -€723 | -52.1% |
| Gross operating margin | 9900 | €54,603 | €60,508 | +€5,905 | +10.8% |
| Operating profit (loss) | 9901 | €48,341 | €55,122 | +€6,781 | +14.0% |
| Financial income | 75/76B | €584 | €10 | -€573 | -98.3% |
| Recurring financial income | 75 | €584 | €10 | -€573 | -98.3% |
| Financial charges | 65/66B | €771 | €688 | -€83 | -10.7% |
| Recurring financial charges | 65 | €771 | €688 | -€83 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €48,154 | €54,444 | +€6,290 | +13.1% |
| Income taxes | 67/77 | €10,706 | €11,686 | +€979 | +9.1% |
| Profit (loss) for the period | 9904 | €37,448 | €42,758 | +€5,311 | +14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €37,448 | €42,758 | +€5,311 | +14.2% |
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 9 October 2026 via checked.be.