KEARY: 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.
KEARY
Largest movements
- Formation expenses -€1,157
no longer reported in 2025 (was €1,157)
- Stocks and contracts +€635
up €635 (+2.2%), from €29,396 to €30,032
- Cash +€612
up €612 (+16.6%), from €3,677 to €4,289
mainly Depreciation (+€1,157) and Other debts (+€897)
- Trade debts -€1,338
down €1,338 (-18.5%), from €7,245 to €5,907
- Other debts +€897
up €897 (+33.4%), from €2,685 to €3,581
- Profit (loss) carried forward +€819
up €819 (+17.3%), from €4,723 to €5,542
- Tax, wage and social debts -€529
down €529 (-3.4%), from €15,600 to €15,071
of which Taxes: -€529
- Purchases and services +€26,949
up €26,949 (+20.2%), from €133,231 to €160,180
- Depreciation +€1,157
new in 2025: €1,157
- Taxes -€414
down €414 (-60.3%), from €687 to €273
- Gross operating margin -€329
down €329 (-9.7%), from €3,405 to €3,077
- Other operating charges +€166
up €166 (+31.9%), from €521 to €687
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 | €38,313 | €38,162 | -€151 | -0.4% |
| Formation expenses | 20 | €1,157 | - | -€1,157 | |
| Current assets | 29/58 | €37,156 | €38,162 | +€1,006 | +2.7% |
| Stocks and contracts in progress | 3 | €29,396 | €30,032 | +€635 | +2.2% |
| Stocks | 30/36 | €29,396 | €30,032 | +€635 | +2.2% |
| Amounts receivable within one year | 40/41 | €4,082 | €3,841 | -€241 | -5.9% |
| Trade receivables | 40 | €3,264 | €3,264 | = | 0.0% |
| Other amounts receivable | 41 | €818 | €577 | -€241 | -29.5% |
| Cash at bank and in hand | 54/58 | €3,677 | €4,289 | +€612 | +16.6% |
| Total equity and liabilities | 10/49 | €38,313 | €38,162 | -€151 | -0.4% |
| Equity | 10/15 | €12,783 | €13,602 | +€819 | +6.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,723 | €5,542 | +€819 | +17.3% |
| Amounts payable | 17/49 | €25,530 | €24,560 | -€970 | -3.8% |
| Amounts payable within one year | 42/48 | €25,530 | €24,560 | -€970 | -3.8% |
| Trade debts | 44 | €7,245 | €5,907 | -€1,338 | -18.5% |
| Suppliers | 440/4 | €7,245 | €5,907 | -€1,338 | -18.5% |
| Taxes, remuneration and social security | 45 | €15,600 | €15,071 | -€529 | -3.4% |
| Taxes | 450/3 | €12,926 | €12,397 | -€529 | -4.1% |
| Remuneration and social security | 454/9 | €2,674 | €2,674 | = | 0.0% |
| Other amounts payable | 47/48 | €2,685 | €3,581 | +€897 | +33.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €133,231 | €160,180 | +€26,949 | +20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,157 | +€1,157 | |
| Other operating charges | 640/8 | €521 | €687 | +€166 | +31.9% |
| Gross operating margin | 9900 | €3,405 | €3,077 | -€329 | -9.7% |
| Operating profit (loss) | 9901 | €2,885 | €1,233 | -€1,652 | -57.3% |
| Financial charges | 65/66B | €135 | €141 | +€6 | +4.1% |
| Recurring financial charges | 65 | €135 | €141 | +€6 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €2,750 | €1,092 | -€1,658 | -60.3% |
| Income taxes | 67/77 | €687 | €273 | -€414 | -60.3% |
| Profit (loss) for the period | 9904 | €2,063 | €819 | -€1,244 | -60.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,063 | €819 | -€1,244 | -60.3% |
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 10 October 2026 via checked.be.