KEBA: 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.
KEBA
Largest movements
- Cash -€107,492
down €107,492 (-36.0%), from €298,540 to €191,048
mainly Investment in fixed assets (net) (-€126,599) and Contributions, distributions and other (-€46,000)
- Tangible fixed assets +€77,159
up €77,159 (+34.8%), from €221,730 to €298,889
of which Plant, machinery and equipment: +€99,232
- Debts after one year -€29,957
down €29,957 (-27.6%), from €108,399 to €78,442
- Reserves +€13,931
up €13,931 (+3.9%), from €361,211 to €375,142
- Trade debts -€7,471
down €7,471 (-93.7%), from €7,973 to €502
- Depreciation +€26,535
up €26,535 (+116%), from €22,905 to €49,440
- Gross operating margin +€14,889
up €14,889 (+12.8%), from €116,519 to €131,408
- Taxes -€5,168
down €5,168 (-20.3%), from €25,500 to €20,332
- Financial income +€3,213
new in 2025: €3,213
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 | €549,655 | €523,907 | -€25,748 | -4.7% |
| Fixed assets | 21/28 | €221,730 | €298,889 | +€77,159 | +34.8% |
| Tangible fixed assets | 22/27 | €221,730 | €298,889 | +€77,159 | +34.8% |
| Plant, machinery and equipment | 23 | €51,531 | €150,763 | +€99,232 | +193% |
| Furniture and vehicles | 24 | €170,199 | €148,126 | -€22,073 | -13.0% |
| Current assets | 29/58 | €327,925 | €225,018 | -€102,907 | -31.4% |
| Amounts receivable within one year | 40/41 | €21,788 | €26,596 | +€4,808 | +22.1% |
| Trade receivables | 40 | €21,788 | €26,596 | +€4,808 | +22.1% |
| Cash at bank and in hand | 54/58 | €298,540 | €191,048 | -€107,492 | -36.0% |
| Deferred charges and accrued income | 490/1 | €7,597 | €7,374 | -€223 | -2.9% |
| Total equity and liabilities | 10/49 | €549,655 | €523,907 | -€25,748 | -4.7% |
| Equity | 10/15 | €379,811 | €393,742 | +€13,931 | +3.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €361,211 | €375,142 | +€13,931 | +3.9% |
| Distributable reserves | 133 | €361,211 | €375,142 | +€13,931 | +3.9% |
| Amounts payable | 17/49 | €169,844 | €130,165 | -€39,679 | -23.4% |
| Amounts payable after more than one year | 17 | €108,399 | €78,442 | -€29,957 | -27.6% |
| Financial debts | 170/4 | €108,399 | €78,442 | -€29,957 | -27.6% |
| Amounts payable within one year | 42/48 | €61,445 | €51,723 | -€9,722 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €27,511 | €29,114 | +€1,603 | +5.8% |
| Trade debts | 44 | €7,973 | €502 | -€7,471 | -93.7% |
| Suppliers | 440/4 | €7,973 | €502 | -€7,471 | -93.7% |
| Taxes, remuneration and social security | 45 | €19,132 | €20,220 | +€1,088 | +5.7% |
| Taxes | 450/3 | €19,132 | €20,220 | +€1,088 | +5.7% |
| Other amounts payable | 47/48 | €6,829 | €1,887 | -€4,942 | -72.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,905 | €49,440 | +€26,535 | +116% |
| Other operating charges | 640/8 | €1,175 | €841 | -€334 | -28.4% |
| Gross operating margin | 9900 | €116,519 | €131,408 | +€14,889 | +12.8% |
| Operating profit (loss) | 9901 | €92,439 | €81,127 | -€11,312 | -12.2% |
| Financial income | 75/76B | - | €3,213 | +€3,213 | |
| Recurring financial income | 75 | - | €3,213 | +€3,213 | |
| Financial charges | 65/66B | €3,565 | €4,077 | +€512 | +14.4% |
| Recurring financial charges | 65 | €3,565 | €4,077 | +€512 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €88,874 | €80,263 | -€8,611 | -9.7% |
| Income taxes | 67/77 | €25,500 | €20,332 | -€5,168 | -20.3% |
| Profit (loss) for the period | 9904 | €63,374 | €59,931 | -€3,443 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €63,374 | €59,931 | -€3,443 | -5.4% |
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 14 October 2026 via checked.be.