KEYMOVE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 31-01-2026 PDF all 21 filings
Turnover
≈ €340,000
Estimated: probably between €190,000 and €560,000
Total assets
€170,341▼ 8.6%
2024 · €186,429
Net result
€24,850▲ 21.0%
2024 · €20,540
Working capital
€155,824▼ 11.3%
2024 · €175,745
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€35,461
▲ 19.6%
2025
20192025
Net result
€24,850
▲ 21.0%
2025
highest quarter of the sector
20192025
Equity
€156,896
▼ 10.7%
2025
highest quarter of the sector
20192025
Total assets
€170,341
▼ 8.6%
2025
middle half of the sector
20192025
Debt
€13,445
▲ 25.8%
2025
20192025
Working capital
€155,824
▼ 11.3%
2025
highest quarter of the sector
20192025
Solvency
92.1%
▼ 2.2pp
2025
highest quarter of the sector
20192025
Current ratio
12.59
▼ 4.86
2025
highest quarter of the sector
20192025
Return on assets (ROA)
14.6%
▲ 3.6pp
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€62,130-€57,950▼ 6.7%€39,716▼ 31.5%€13,299▼ 66.5%€24,748▲ 86.1%€29,642▲ 19.8%€35,461▲ 19.6%
Net result€43,699-€40,980above the sector's middle half▼ 6.2%€27,692above the sector's middle half▼ 32.4%€8,308within the sector's middle half▼ 70.0%€17,031within the sector's middle half▲ 105%€20,540within the sector's middle half▲ 20.6%€24,850above the sector's middle half▲ 21.0%
Equity€304,075-€345,055above the sector's middle half▲ 13.5%€228,978above the sector's middle half▼ 33.6%€164,127above the sector's middle half▼ 28.3%€155,205above the sector's middle half▼ 5.4%€175,745above the sector's middle half▲ 13.2%€156,896above the sector's middle half▼ 10.7%
Total assets€311,288-€362,141above the sector's middle half▲ 16.3%€341,103above the sector's middle half▼ 5.8%€246,737within the sector's middle half▼ 27.7%€189,129within the sector's middle half▼ 23.3%€186,429within the sector's middle half▼ 1.4%€170,341within the sector's middle half▼ 8.6%
Debt€7,213-€17,085▲ 137%€112,125▲ 556%€82,610▼ 26.3%€33,924▼ 58.9%€10,684▼ 68.5%€13,445▲ 25.8%
Working capital€303,826-€345,055above the sector's middle half▲ 13.6%€228,978above the sector's middle half▼ 33.6%€164,127above the sector's middle half▼ 28.3%€155,205above the sector's middle half▼ 5.4%€175,745above the sector's middle half▲ 13.2%€155,824above the sector's middle half▼ 11.3%
Solvency97.7%-95.3%above the sector's middle half▼ 2.4pp67.1%above the sector's middle half▼ 28.2pp66.5%above the sector's middle half▼ 0.6pp82.1%above the sector's middle half▲ 15.5pp94.3%above the sector's middle half▲ 12.2pp92.1%above the sector's middle half▼ 2.2pp
Current ratio43.12-21.20above the sector's middle half▼ 21.933.04above the sector's middle half▼ 18.152.99above the sector's middle half▼ 0.065.58above the sector's middle half▲ 2.5917.45above the sector's middle half▲ 11.8712.59above the sector's middle half▼ 4.86
Return on assets (ROA)14.0%-11.3%within the sector's middle half▼ 2.7pp8.1%within the sector's middle half▼ 3.2pp3.4%within the sector's middle half▼ 4.8pp9.0%within the sector's middle half▲ 5.6pp11.0%within the sector's middle half▲ 2.0pp14.6%above the sector's middle half▲ 3.6pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 20% higher than in 2024. It is the third rise in a row, after the fall in 2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €170,341
Fixed assets
€1,072
Current assets
€169,269
Equity and liabilities €170,341
Equity
€156,896 ▼ 10.7%
Debt
€13,445 ▲ 25.8%
Debt's share of the balance-sheet total rises from 5.7% to 7.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€35,767
Cash flow
€25,155
Debt to equity
0.09▲
2024 · 0.06
ROE
15.8%▲
2024 · 11.7%
Interest coverage
over 100
Debt ≤ 1 year
€13,445▲
2024 · €10,684
Income taxes
€10,898▲
2024 · €9,087
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €1,378 |
| Depreciation and write-downs of the year | - | - | - | €306 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €6,450 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €249 | €249 | - | - | - | - | €306 | - |
| Other operating charges640/8 | - | - | - | €621 | €625 | €588 | €822 | ▲ 40.0% |
| Gross operating margin9900 | €63,108 | €58,774 | €40,310 | €13,920 | €25,373 | €30,229 | €36,589 | ▲ 21.0% |
| Operating profit (loss)9901 | €62,130 | €57,950 | €39,716 | €13,299 | €24,748 | €29,642 | €35,461 | ▲ 19.6% |
| Financial income75/76B | - | - | - | €377 | €0 | €247 | €491 | ▲ 98.7% |
| Recurring financial income75 | €66 | - | €15 | €377 | €0 | €247 | €491 | ▲ 98.7% |
| Financial charges65/66B | - | - | - | €120 | €88 | €262 | €204 | ▼ 22.1% |
| Recurring financial charges65 | €96 | €170 | €72 | €120 | €88 | €262 | €204 | ▼ 22.1% |
| Profit (loss) for the period before taxes9903 | €62,100 | €57,780 | €39,659 | €13,556 | €24,660 | €29,627 | €35,748 | ▲ 20.7% |
| Income taxes67/77 | €18,401 | €16,800 | €11,967 | €5,248 | €7,629 | €9,087 | €10,898 | ▲ 19.9% |
| Profit (loss) for the period9904 | €43,699 | €40,980 | €27,692 | €8,308 | €17,031 | €20,540 | €24,850 | ▲ 21.0% |
| Profit (loss) for the period to be appropriated9905 | €43,699 | €40,980 | €27,692 | €8,308 | €17,031 | €20,540 | €24,850 | ▲ 21.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €311,288 | €362,141 | €341,103 | €246,737 | €189,129 | €186,429 | €170,341 | ▼ 8.6% |
| Fixed assets21/28 | €249 | - | - | - | - | - | €1,072 | - |
| Tangible fixed assets22/27 | €249 | - | - | - | - | - | €1,072 | - |
| Furniture and vehicles24 | - | - | - | - | - | - | €1,072 | - |
| Current assets29/58 | €311,039 | €362,141 | €341,103 | €246,737 | €189,129 | €186,429 | €169,269 | ▼ 9.2% |
| Amounts receivable within one year40/41 | €41,140 | €21,780 | €13,915 | €17,887 | €12,912 | €16,831 | €17,036 | ▲ 1.2% |
| Trade receivables40 | - | - | - | €14,535 | €11,041 | €16,831 | €17,036 | ▲ 1.2% |
| Other amounts receivable41 | - | - | - | €3,352 | €1,871 | - | - | - |
| Cash at bank and in hand54/58 | €268,857 | €338,426 | €325,774 | €227,418 | €175,799 | €168,072 | €150,782 | ▼ 10.3% |
| Deferred charges and accrued income490/1 | - | - | - | €1,432 | €418 | €1,527 | €1,452 | ▼ 4.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €311,288 | €362,141 | €341,103 | €246,737 | €189,129 | €186,429 | €170,341 | ▼ 8.6% |
| Equity10/15 | €304,075 | €345,055 | €228,978 | €164,127 | €155,205 | €175,745 | €156,896 | ▼ 10.7% |
| Contributions10/11 | €12,400 | - | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €291,675 | €332,655 | €216,578 | €151,727 | €142,805 | €163,345 | €144,496 | ▼ 11.5% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €149,867 | €142,805 | €163,345 | €144,496 | ▼ 11.5% |
| Amounts payable17/49 | €7,213 | €17,085 | €112,125 | €82,610 | €33,924 | €10,684 | €13,445 | ▲ 25.8% |
| Amounts payable within one year42/48 | €7,213 | €17,085 | €112,125 | €82,610 | €33,924 | €10,684 | €13,445 | ▲ 25.8% |
| Trade debts44 | €1,081 | €8,386 | €1,663 | €1,988 | €2,439 | €2,804 | €3,219 | ▲ 14.8% |
| Suppliers440/4 | - | - | - | €1,988 | €2,439 | €2,804 | €3,219 | ▲ 14.8% |
| Taxes, remuneration and social security45 | - | - | - | €11,047 | €5,274 | €7,621 | €9,967 | ▲ 30.8% |
| Taxes450/3 | - | - | - | €11,047 | €5,274 | €7,621 | €9,967 | ▲ 30.8% |
| Other amounts payable47/48 | - | - | - | €69,575 | €26,211 | €259 | €259 | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43,699 | €40,980 | €27,692 | €8,308 | €17,031 | €20,540 | €24,850 | ▲ 21.0% |
| + Depreciation and write-downs630 | €249 | €249 | - | - | - | - | €306 | - |
| Operating cash flow (approximation) | €43,948 | €41,230 | €27,692 | €8,308 | €17,031 | €20,540 | €25,155 | ▲ 22.5% |
| Change in cash | - | €69,569 | -€12,651 | -€98,357 | -€51,619 | -€7,727 | -€17,290 | ▼ 124% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as KEYMOVE has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of KEYMOVE itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for KEYMOVE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 31-01-2026 | 2026-00029179 | |
| 30-06-2024 | micro format | 31-01-2025 | 2025-00022078 | |
| 30-06-2023 | micro format | 28-02-2024 | 2024-00035865 | |
| 30-06-2022 | micro format | 14-12-2022 | 2022-20537174 | |
| 30-06-2021 | micro format | 21-12-2021 | 2021-81100393 | |
| 30-06-2020 | micro format | 01-12-2020 | 2020-73700002 | |
| 30-06-2019 | micro format | 14-11-2019 | 2019-73700255 | |
| 30-06-2018 | micro format | 05-11-2018 | 2018-71700334 | |
| 30-06-2017 | micro format | 23-11-2017 | 2017-70100498 | |
| 30-06-2016 | abbreviated format | 22-11-2016 | 2016-68200400 |