EVRARD-KEYEN: what changed
Two fiscal 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.
EVRARD-KEYEN
Largest movements
- Current investments +€219,739
new in 2025: €219,739
- Cash -€189,656
down €189,656 (-61.1%), from €310,574 to €120,918
mainly Current investments (-€219,739) and Investment in fixed assets (net) (-€164,047)
- Tangible fixed assets +€113,246
up €113,246 (+29.7%), from €381,293 to €494,539
of which Other tangible fixed assets: +€126,394
- Receivables within one year +€13,009
up €13,009 (+23.4%), from €55,710 to €68,719
of which Trade receivables: +€12,708
- Debts after one year +€127,866
up €127,866 (+48.5%), from €263,507 to €391,373
- Reserves +€52,050
up €52,050 (+23.4%), from €222,550 to €274,600
- Other debts -€30,131
down €30,131 (-9.7%), from €311,629 to €281,497
- Gross operating margin +€13,508
up €13,508 (+9.8%), from €138,463 to €151,971
- Depreciation +€12,656
up €12,656 (+38.3%), from €33,014 to €45,671
- Staff costs +€7,167
new in 2025: €7,167
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 | €772,364 | €932,729 | +€160,365 | +20.8% |
| Fixed assets | 21/28 | €381,293 | €499,669 | +€118,376 | +31.0% |
| Tangible fixed assets | 22/27 | €381,293 | €494,539 | +€113,246 | +29.7% |
| Land and buildings | 22 | €115,751 | €109,667 | -€6,084 | -5.3% |
| Plant, machinery and equipment | 23 | €4,701 | €8,679 | +€3,978 | +84.6% |
| Furniture and vehicles | 24 | €72,459 | €61,418 | -€11,042 | -15.2% |
| Other tangible fixed assets | 26 | €188,381 | €314,775 | +€126,394 | +67.1% |
| Financial fixed assets | 28 | - | €5,130 | +€5,130 | |
| Current assets | 29/58 | €391,071 | €433,059 | +€41,989 | +10.7% |
| Stocks and contracts in progress | 3 | €20,055 | €19,664 | -€391 | -1.9% |
| Stocks | 30/36 | €20,055 | €19,664 | -€391 | -1.9% |
| Amounts receivable within one year | 40/41 | €55,710 | €68,719 | +€13,009 | +23.4% |
| Trade receivables | 40 | €55,710 | €68,418 | +€12,708 | +22.8% |
| Other amounts receivable | 41 | - | €301 | +€301 | |
| Current investments | 50/53 | - | €219,739 | +€219,739 | |
| Cash at bank and in hand | 54/58 | €310,574 | €120,918 | -€189,656 | -61.1% |
| Deferred charges and accrued income | 490/1 | €4,732 | €4,019 | -€712 | -15.1% |
| Total equity and liabilities | 10/49 | €772,364 | €932,729 | +€160,365 | +20.8% |
| Equity | 10/15 | €171,218 | €223,307 | +€52,089 | +30.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €222,550 | €274,600 | +€52,050 | +23.4% |
| Distributable reserves | 133 | €222,550 | €274,600 | +€52,050 | +23.4% |
| Profit (loss) carried forward | 14 | -€57,533 | -€57,493 | +€39 | +0.1% |
| Amounts payable | 17/49 | €601,146 | €709,422 | +€108,275 | +18.0% |
| Amounts payable after more than one year | 17 | €263,507 | €391,373 | +€127,866 | +48.5% |
| Financial debts | 170/4 | €263,507 | €391,373 | +€127,866 | +48.5% |
| Amounts payable within one year | 42/48 | €337,639 | €318,049 | -€19,590 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €16,524 | €17,134 | +€610 | +3.7% |
| Trade debts | 44 | €3,484 | €7,820 | +€4,336 | +124.4% |
| Suppliers | 440/4 | €3,484 | €7,820 | +€4,336 | +124.4% |
| Taxes, remuneration and social security | 45 | €6,002 | €11,598 | +€5,595 | +93.2% |
| Taxes | 450/3 | €6,002 | €9,362 | +€3,360 | +56.0% |
| Remuneration and social security | 454/9 | - | €2,235 | +€2,235 | |
| Other amounts payable | 47/48 | €311,629 | €281,497 | -€30,131 | -9.7% |
| Remuneration, social security and pensions | 62 | - | €7,167 | +€7,167 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,014 | €45,671 | +€12,656 | +38.3% |
| Other operating charges | 640/8 | €1,563 | €693 | -€870 | -55.7% |
| Gross operating margin | 9900 | €138,463 | €151,971 | +€13,508 | +9.8% |
| Operating profit (loss) | 9901 | €103,885 | €98,441 | -€5,444 | -5.2% |
| Financial income | 75/76B | €3,295 | €2,874 | -€421 | -12.8% |
| Recurring financial income | 75 | €3,295 | €2,874 | -€421 | -12.8% |
| Financial charges | 65/66B | €33,123 | €32,763 | -€361 | -1.1% |
| Recurring financial charges | 65 | €33,123 | €32,763 | -€361 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €74,056 | €68,552 | -€5,504 | -7.4% |
| Income taxes | 67/77 | €17,136 | €16,463 | -€673 | -3.9% |
| Profit (loss) for the period | 9904 | €56,921 | €52,089 | -€4,831 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €56,921 | €52,089 | -€4,831 | -8.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.