KEA-EPC: 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.
KEA-EPC
Largest movements
- Current investments -€40,000
no longer reported in 2025 (was €40,000)
- Tangible fixed assets +€38,257
up €38,257 (+20.2%), from €188,935 to €227,192
of which Furniture and vehicles: +€46,304
- Receivables within one year +€2,805
up €2,805 (+67.2%), from €4,173 to €6,978
of which Trade receivables: +€1,678
- Reserves +€12,805
up €12,805 (+15.6%), from €82,325 to €95,130
- Trade debts -€4,560
down €4,560 (-82.1%), from €5,557 to €997
- Debts after one year -€3,952
down €3,952 (-14.6%), from €27,098 to €23,146
of which Financial debts: -€3,952
- Current portion of long-term debt -€3,544
down €3,544 (-47.3%), from €7,496 to €3,952
- Other debts +€3,116
up €3,116 (+6.3%), from €49,388 to €52,504
- Gross operating margin +€3,461
up €3,461 (+8.7%), from €39,562 to €43,024
- Other operating charges -€3,459
down €3,459 (-63.5%), from €5,449 to €1,990
- Depreciation +€3,456
up €3,456 (+22.0%), from €15,719 to €19,175
- Financial income +€1,464
up €1,464 (+14,644,500%), from €0 to €1,464
- Taxes +€1,464
up €1,464 (+29.5%), from €4,967 to €6,431
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 | €239,143 | €241,414 | +€2,271 | +0.9% |
| Fixed assets | 21/28 | €189,515 | €227,772 | +€38,257 | +20.2% |
| Tangible fixed assets | 22/27 | €188,935 | €227,192 | +€38,257 | +20.2% |
| Land and buildings | 22 | €161,116 | €153,143 | -€7,974 | -4.9% |
| Plant, machinery and equipment | 23 | €15,358 | €15,285 | -€74 | -0.5% |
| Furniture and vehicles | 24 | €12,460 | €58,765 | +€46,304 | +372% |
| Financial fixed assets | 28 | €580 | €580 | = | 0.0% |
| Current assets | 29/58 | €49,628 | €13,642 | -€35,986 | -72.5% |
| Amounts receivable within one year | 40/41 | €4,173 | €6,978 | +€2,805 | +67.2% |
| Trade receivables | 40 | €3,792 | €5,470 | +€1,678 | +44.3% |
| Other amounts receivable | 41 | €382 | €1,508 | +€1,126 | +295% |
| Current investments | 50/53 | €40,000 | - | -€40,000 | |
| Cash at bank and in hand | 54/58 | €5,455 | €6,664 | +€1,209 | +22.2% |
| Total equity and liabilities | 10/49 | €239,143 | €241,414 | +€2,271 | +0.9% |
| Equity | 10/15 | €144,389 | €157,194 | +€12,805 | +8.9% |
| Contributions | 10/11 | €64,460 | €64,460 | = | 0.0% |
| Reserves | 13 | €82,325 | €95,130 | +€12,805 | +15.6% |
| Distributable reserves | 133 | €82,325 | €95,130 | +€12,805 | +15.6% |
| Profit (loss) carried forward | 14 | -€2,396 | -€2,396 | = | 0.0% |
| Amounts payable | 17/49 | €94,753 | €84,219 | -€10,534 | -11.1% |
| Amounts payable after more than one year | 17 | €27,098 | €23,146 | -€3,952 | -14.6% |
| Financial debts | 170/4 | €25,698 | €21,746 | -€3,952 | -15.4% |
| Other amounts payable | 178/9 | €1,400 | €1,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €63,754 | €57,584 | -€6,169 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €7,496 | €3,952 | -€3,544 | -47.3% |
| Trade debts | 44 | €5,557 | €997 | -€4,560 | -82.1% |
| Suppliers | 440/4 | €5,557 | €997 | -€4,560 | -82.1% |
| Taxes, remuneration and social security | 45 | €1,314 | €132 | -€1,182 | -90.0% |
| Taxes | 450/3 | €1,314 | €132 | -€1,182 | -90.0% |
| Other amounts payable | 47/48 | €49,388 | €52,504 | +€3,116 | +6.3% |
| Accrued charges and deferred income | 492/3 | €3,902 | €3,489 | -€413 | -10.6% |
| Non-recurring operating income | 76A | - | €12,991 | +€12,991 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,719 | €19,175 | +€3,456 | +22.0% |
| Other operating charges | 640/8 | €5,449 | €1,990 | -€3,459 | -63.5% |
| Gross operating margin | 9900 | €39,562 | €43,024 | +€3,461 | +8.7% |
| Operating profit (loss) | 9901 | €18,394 | €21,859 | +€3,465 | +18.8% |
| Financial income | 75/76B | €0 | €1,464 | +€1,464 | +14,644,500% |
| Recurring financial income | 75 | €0 | €1,464 | +€1,464 | +14,644,500% |
| Financial charges | 65/66B | €5,033 | €4,087 | -€946 | -18.8% |
| Recurring financial charges | 65 | €5,033 | €4,087 | -€946 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €13,361 | €19,236 | +€5,875 | +44.0% |
| Income taxes | 67/77 | €4,967 | €6,431 | +€1,464 | +29.5% |
| Profit (loss) for the period | 9904 | €8,394 | €12,805 | +€4,411 | +52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,394 | €12,805 | +€4,411 | +52.5% |
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.