De Kei: 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.
De Kei
Largest movements
- Cash +€105,919
up €105,919 (+150%), from €70,497 to €176,416
mainly Net result for the year (+€120,210) and Depreciation (+€34,823)
- Receivables within one year -€24,251
down €24,251 (-12.8%), from €189,863 to €165,612
of which Trade receivables: -€17,573
- Tangible fixed assets +€12,325
up €12,325 (+19.4%), from €63,534 to €75,859
of which Furniture and vehicles: +€75,859
- Profit (loss) carried forward +€120,210
up €120,210 (+270%), from €44,505 to €164,715
- Trade debts -€18,032
down €18,032 (-51.6%), from €34,935 to €16,903
- Tax, wage and social debts -€17,320
down €17,320 (-38.9%), from €44,563 to €27,243
- Provisions +€8,000
new in 2025: €8,000
- Staff costs -€69,142
down €69,142 (-13.6%), from €507,814 to €438,672
- Gross operating margin +€27,503
up €27,503 (+4.7%), from €582,417 to €609,920
- Depreciation +€9,430
up €9,430 (+37.1%), from €25,393 to €34,823
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 | €414,330 | €506,905 | +€92,575 | +22.3% |
| Fixed assets | 21/28 | €151,134 | €163,459 | +€12,325 | +8.2% |
| Tangible fixed assets | 22/27 | €63,534 | €75,859 | +€12,325 | +19.4% |
| Land and buildings | 22 | €63,534 | - | -€63,534 | |
| Furniture and vehicles | 24 | - | €75,859 | +€75,859 | |
| Financial fixed assets | 28 | €87,600 | €87,600 | = | 0.0% |
| Current assets | 29/58 | €263,196 | €343,446 | +€80,250 | +30.5% |
| Stocks and contracts in progress | 3 | €2,836 | €1,418 | -€1,418 | -50.0% |
| Stocks | 30/36 | €2,836 | €1,418 | -€1,418 | -50.0% |
| Amounts receivable within one year | 40/41 | €189,863 | €165,612 | -€24,251 | -12.8% |
| Trade receivables | 40 | €126,492 | €108,918 | -€17,573 | -13.9% |
| Other amounts receivable | 41 | €63,371 | €56,693 | -€6,678 | -10.5% |
| Cash at bank and in hand | 54/58 | €70,497 | €176,416 | +€105,919 | +150% |
| Total equity and liabilities | 10/49 | €414,330 | €506,905 | +€92,575 | +22.3% |
| Equity | 10/15 | €334,548 | €454,758 | +€120,210 | +35.9% |
| Reserves | 13 | €290,043 | €290,043 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,505 | €164,715 | +€120,210 | +270% |
| Provisions and deferred taxes | 16 | - | €8,000 | +€8,000 | |
| Provisions for liabilities and charges | 160/5 | - | €8,000 | +€8,000 | |
| Other liabilities and charges | 164/5 | - | €8,000 | +€8,000 | |
| Amounts payable | 17/49 | €79,782 | €44,147 | -€35,635 | -44.7% |
| Amounts payable within one year | 42/48 | €79,499 | €44,147 | -€35,352 | -44.5% |
| Trade debts | 44 | €34,935 | €16,903 | -€18,032 | -51.6% |
| Suppliers | 440/4 | €34,935 | €16,903 | -€18,032 | -51.6% |
| Taxes, remuneration and social security | 45 | €44,563 | €27,243 | -€17,320 | -38.9% |
| Remuneration and social security | 454/9 | €44,563 | €27,243 | -€17,320 | -38.9% |
| Accrued charges and deferred income | 492/3 | €283 | €0 | -€283 | -100% |
| Non-recurring operating income | 76A | €2,465 | €14,233 | +€11,768 | +477% |
| Remuneration, social security and pensions | 62 | €507,814 | €438,672 | -€69,142 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,393 | €34,823 | +€9,430 | +37.1% |
| Other operating charges | 640/8 | €4,657 | €8,188 | +€3,530 | +75.8% |
| Non-recurring operating charges | 66A | €14 | €0 | -€14 | -100% |
| Gross operating margin | 9900 | €582,417 | €609,920 | +€27,503 | +4.7% |
| Operating profit (loss) | 9901 | €44,539 | €120,238 | +€75,699 | +170% |
| Financial income | 75/76B | €21 | €40 | +€19 | +87.8% |
| Recurring financial income | 75 | €21 | €40 | +€19 | +87.8% |
| Financial charges | 65/66B | €55 | €68 | +€13 | +23.1% |
| Recurring financial charges | 65 | €55 | €68 | +€13 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | €44,505 | €120,210 | +€75,704 | +170% |
| Profit (loss) for the period | 9904 | €44,505 | €120,210 | +€75,704 | +170% |
| Profit (loss) for the period to be appropriated | 9905 | €44,505 | €120,210 | +€75,704 | +170% |
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 13 October 2026 via checked.be.