KECE: 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.
KECE
Largest movements
- Tangible fixed assets +€60,906
up €60,906 (+5.8%), from €1.0m to €1.1m
of which Furniture and vehicles: +€46,616
- Cash +€50,080
up €50,080 (+88.0%), from €56,938 to €107,018
mainly Net result for the year (+€138,846) and Depreciation (+€64,225)
- Profit (loss) carried forward +€108,846
up €108,846 (+65.1%), from €167,225 to €276,071
- Other debts -€107,500
down €107,500 (-56.6%), from €190,000 to €82,500
- Tax, wage and social debts +€43,525
up €43,525 (+168%), from €25,952 to €69,477
of which Taxes: +€31,278
- Trade debts +€39,246
up €39,246 (+913%), from €4,298 to €43,544
- Reserves +€30,000
up €30,000 (+94.2%), from €31,860 to €61,860
of which Distributable reserves: +€30,000
- Gross operating margin +€89,262
up €89,262 (+13.0%), from €685,197 to €774,459
- Staff costs -€69,260
down €69,260 (-12.7%), from €544,036 to €474,776
- Taxes +€52,621
up €52,621 (+645%), from €8,158 to €60,779
- Depreciation -€21,056
down €21,056 (-24.7%), from €85,281 to €64,225
- Financial charges +€7,910
up €7,910 (+36.3%), from €21,810 to €29,720
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 | €1,125,774 | €1,240,987 | +€115,213 | +10.2% |
| Fixed assets | 21/28 | €1,049,837 | €1,110,742 | +€60,906 | +5.8% |
| Tangible fixed assets | 22/27 | €1,049,837 | €1,110,742 | +€60,906 | +5.8% |
| Land and buildings | 22 | €963,565 | €961,699 | -€1,866 | -0.2% |
| Plant, machinery and equipment | 23 | €12,656 | €29,412 | +€16,756 | +132% |
| Furniture and vehicles | 24 | €73,016 | €119,632 | +€46,616 | +63.8% |
| Other tangible fixed assets | 26 | €600 | - | -€600 | |
| Current assets | 29/58 | €75,937 | €130,244 | +€54,307 | +71.5% |
| Stocks and contracts in progress | 3 | €1,220 | €2,302 | +€1,082 | +88.7% |
| Stocks | 30/36 | €1,220 | €2,302 | +€1,082 | +88.7% |
| Amounts receivable within one year | 40/41 | €7,391 | €11,465 | +€4,074 | +55.1% |
| Trade receivables | 40 | €6,483 | €1,500 | -€4,983 | -76.9% |
| Other amounts receivable | 41 | €908 | €9,965 | +€9,057 | +998% |
| Cash at bank and in hand | 54/58 | €56,938 | €107,018 | +€50,080 | +88.0% |
| Deferred charges and accrued income | 490/1 | €10,388 | €9,459 | -€929 | -8.9% |
| Total equity and liabilities | 10/49 | €1,125,774 | €1,240,987 | +€115,213 | +10.2% |
| Equity | 10/15 | €217,685 | €356,531 | +€138,846 | +63.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,860 | €61,860 | +€30,000 | +94.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €60,000 | +€30,000 | +100% |
| Profit (loss) carried forward | 14 | €167,225 | €276,071 | +€108,846 | +65.1% |
| Amounts payable | 17/49 | €908,089 | €884,456 | -€23,632 | -2.6% |
| Amounts payable after more than one year | 17 | €629,765 | €641,511 | +€11,746 | +1.9% |
| Financial debts | 170/4 | €629,765 | €641,511 | +€11,746 | +1.9% |
| Amounts payable within one year | 42/48 | €278,324 | €242,945 | -€35,379 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €58,074 | €47,424 | -€10,650 | -18.3% |
| Trade debts | 44 | €4,298 | €43,544 | +€39,246 | +913% |
| Suppliers | 440/4 | €4,298 | €43,544 | +€39,246 | +913% |
| Taxes, remuneration and social security | 45 | €25,952 | €69,477 | +€43,525 | +168% |
| Taxes | 450/3 | €25,952 | €57,230 | +€31,278 | +121% |
| Remuneration and social security | 454/9 | - | €12,247 | +€12,247 | |
| Other amounts payable | 47/48 | €190,000 | €82,500 | -€107,500 | -56.6% |
| Non-recurring operating income | 76A | - | €23,220 | +€23,220 | |
| Remuneration, social security and pensions | 62 | €544,036 | €474,776 | -€69,260 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,281 | €64,225 | -€21,056 | -24.7% |
| Other operating charges | 640/8 | €8,132 | €6,113 | -€2,019 | -24.8% |
| Gross operating margin | 9900 | €685,197 | €774,459 | +€89,262 | +13.0% |
| Operating profit (loss) | 9901 | €47,747 | €229,344 | +€181,597 | +380% |
| Financial charges | 65/66B | €21,810 | €29,720 | +€7,910 | +36.3% |
| Recurring financial charges | 65 | €21,810 | €29,720 | +€7,910 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €25,937 | €199,624 | +€173,687 | +670% |
| Income taxes | 67/77 | €8,158 | €60,779 | +€52,621 | +645% |
| Profit (loss) for the period | 9904 | €17,780 | €138,846 | +€121,066 | +681% |
| Profit (loss) for the period to be appropriated | 9905 | €17,780 | €138,846 | +€121,066 | +681% |
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 16 October 2026 via checked.be.