KEAN-Projects: 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.
KEAN-Projects
Largest movements
- Tangible fixed assets +€49,760
up €49,760 (+64.6%), from €77,062 to €126,823
of which Land and buildings: +€45,302
- Receivables within one year -€7,999
down €7,999 (-51.2%), from €15,632 to €7,632
of which Trade receivables: -€8,427
- Cash -€4,920
down €4,920 (-63.8%), from €7,714 to €2,794
mainly Investment in fixed assets (net) (-€59,533) and Net result for the year (-€31,465)
- Formation expenses -€2,150
no longer reported in 2025 (was €2,150)
- Other debts +€44,692
up €44,692 (+74.5%), from €59,992 to €104,684
- Profit (loss) carried forward -€31,465
down €31,465 (-357.8%), from -€8,795 to -€40,260
- Debts after one year +€27,175
up €27,175 (+188.9%), from €14,388 to €41,563
- Trade debts -€18,159
down €18,159 (-96.3%), from €18,854 to €695
- Accrued charges and deferred income +€9,572
up €9,572 (+3061.5%), from €313 to €9,885
- Gross operating margin -€31,321
down €31,321, from €24,560 to -€6,760
- Depreciation +€6,106
up €6,106 (+105.0%), from €5,816 to €11,922
- Staff costs -€5,954
down €5,954 (-44.8%), from €13,288 to €7,334
- Other operating charges +€1,115
up €1,115 (+57.4%), from €1,943 to €3,058
- Financial charges -€368
down €368 (-13.3%), from €2,758 to €2,390
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 | €112,776 | €146,474 | +€33,698 | +29.9% |
| Formation expenses | 20 | €2,150 | - | -€2,150 | |
| Fixed assets | 21/28 | €77,062 | €126,823 | +€49,760 | +64.6% |
| Tangible fixed assets | 22/27 | €77,062 | €126,823 | +€49,760 | +64.6% |
| Land and buildings | 22 | - | €45,302 | +€45,302 | |
| Plant, machinery and equipment | 23 | €60,042 | €63,940 | +€3,898 | +6.5% |
| Furniture and vehicles | 24 | €17,021 | €17,581 | +€561 | +3.3% |
| Current assets | 29/58 | €33,563 | €19,651 | -€13,912 | -41.5% |
| Stocks and contracts in progress | 3 | €9,734 | €9,225 | -€509 | -5.2% |
| Stocks | 30/36 | €9,734 | €9,225 | -€509 | -5.2% |
| Amounts receivable within one year | 40/41 | €15,632 | €7,632 | -€7,999 | -51.2% |
| Trade receivables | 40 | €9,554 | €1,128 | -€8,427 | -88.2% |
| Other amounts receivable | 41 | €6,078 | €6,505 | +€427 | +7.0% |
| Cash at bank and in hand | 54/58 | €7,714 | €2,794 | -€4,920 | -63.8% |
| Deferred charges and accrued income | 490/1 | €483 | - | -€483 | |
| Total equity and liabilities | 10/49 | €112,776 | €146,474 | +€33,698 | +29.9% |
| Equity | 10/15 | €6,205 | -€25,260 | -€31,465 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,795 | -€40,260 | -€31,465 | -357.8% |
| Amounts payable | 17/49 | €106,570 | €171,734 | +€65,164 | +61.1% |
| Amounts payable after more than one year | 17 | €14,388 | €41,563 | +€27,175 | +188.9% |
| Financial debts | 170/4 | €14,388 | €41,563 | +€27,175 | +188.9% |
| Amounts payable within one year | 42/48 | €91,869 | €120,285 | +€28,416 | +30.9% |
| Trade debts | 44 | €18,854 | €695 | -€18,159 | -96.3% |
| Suppliers | 440/4 | €18,854 | €695 | -€18,159 | -96.3% |
| Advances received on contracts in progress | 46 | €1,071 | €1,071 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €11,952 | €13,835 | +€1,883 | +15.8% |
| Taxes | 450/3 | €867 | €928 | +€61 | +7.0% |
| Remuneration and social security | 454/9 | €11,085 | €12,907 | +€1,822 | +16.4% |
| Other amounts payable | 47/48 | €59,992 | €104,684 | +€44,692 | +74.5% |
| Accrued charges and deferred income | 492/3 | €313 | €9,885 | +€9,572 | +3061.5% |
| Remuneration, social security and pensions | 62 | €13,288 | €7,334 | -€5,954 | -44.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,816 | €11,922 | +€6,106 | +105.0% |
| Other operating charges | 640/8 | €1,943 | €3,058 | +€1,115 | +57.4% |
| Gross operating margin | 9900 | €24,560 | -€6,760 | -€31,321 | |
| Operating profit (loss) | 9901 | €3,513 | -€29,075 | -€32,588 | |
| Financial income | 75/76B | €81 | - | -€81 | |
| Recurring financial income | 75 | €81 | - | -€81 | |
| Financial charges | 65/66B | €2,758 | €2,390 | -€368 | -13.3% |
| Recurring financial charges | 65 | €2,758 | €2,390 | -€368 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €836 | -€31,465 | -€32,301 | |
| Profit (loss) for the period | 9904 | €836 | -€31,465 | -€32,301 | |
| Profit (loss) for the period to be appropriated | 9905 | €836 | -€31,465 | -€32,301 |
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 8 October 2026 via checked.be.