KECO: 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.
KECO
Largest movements
- Cash -€127,515
down €127,515 (-92.0%), from €138,545 to €11,030
mainly Net result for the year (-€142,883) and Tax, wage and social debts (-€36,737)
- Receivables within one year -€36,344
down €36,344 (-83.9%), from €43,294 to €6,949
of which Trade receivables: -€21,687
- Tangible fixed assets -€11,639
down €11,639 (-16.9%), from €68,876 to €57,237
of which Furniture and vehicles: -€7,832
- Profit (loss) carried forward -€117,334
down €117,334, from €0 to -€117,334
- Tax, wage and social debts -€36,737
down €36,737 (-92.2%), from €39,831 to €3,093
- Reserves -€25,549
down €25,549 (-12.4%), from €206,118 to €180,569
- Other debts +€3,591
up €3,591 (+215.5%), from €1,666 to €5,257
- Gross operating margin -€223,660
down €223,660, from €94,438 to -€129,221
- Taxes -€25,158
down €25,158 (-99.1%), from €25,390 to €232
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 | €253,290 | €77,914 | -€175,376 | -69.2% |
| Fixed assets | 21/28 | €68,876 | €57,237 | -€11,639 | -16.9% |
| Tangible fixed assets | 22/27 | €68,876 | €57,237 | -€11,639 | -16.9% |
| Land and buildings | 22 | €2,424 | €2,074 | -€350 | -14.4% |
| Furniture and vehicles | 24 | €28,040 | €20,208 | -€7,832 | -27.9% |
| Other tangible fixed assets | 26 | €38,412 | €34,955 | -€3,457 | -9.0% |
| Current assets | 29/58 | €184,414 | €20,677 | -€163,737 | -88.8% |
| Amounts receivable within one year | 40/41 | €43,294 | €6,949 | -€36,344 | -83.9% |
| Trade receivables | 40 | €27,687 | €6,000 | -€21,687 | -78.3% |
| Other amounts receivable | 41 | €15,606 | €949 | -€14,657 | -93.9% |
| Cash at bank and in hand | 54/58 | €138,545 | €11,030 | -€127,515 | -92.0% |
| Deferred charges and accrued income | 490/1 | €2,575 | €2,698 | +€122 | +4.8% |
| Total equity and liabilities | 10/49 | €253,290 | €77,914 | -€175,376 | -69.2% |
| Equity | 10/15 | €207,118 | €64,235 | -€142,883 | -69.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €206,118 | €180,569 | -€25,549 | -12.4% |
| Distributable reserves | 133 | €206,118 | €180,569 | -€25,549 | -12.4% |
| Profit (loss) carried forward | 14 | €0 | -€117,334 | -€117,334 | |
| Amounts payable | 17/49 | €46,171 | €13,679 | -€32,492 | -70.4% |
| Amounts payable within one year | 42/48 | €46,171 | €13,679 | -€32,492 | -70.4% |
| Financial debts | 43 | €791 | €2,314 | +€1,523 | +192.5% |
| Credit institutions | 430/8 | €791 | €2,314 | +€1,523 | +192.5% |
| Trade debts | 44 | €3,883 | €3,015 | -€868 | -22.4% |
| Suppliers | 440/4 | €3,883 | €3,015 | -€868 | -22.4% |
| Taxes, remuneration and social security | 45 | €39,831 | €3,093 | -€36,737 | -92.2% |
| Taxes | 450/3 | €39,831 | €3,093 | -€36,737 | -92.2% |
| Other amounts payable | 47/48 | €1,666 | €5,257 | +€3,591 | +215.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,190 | €11,639 | +€449 | +4.0% |
| Other operating charges | 640/8 | €832 | €1,031 | +€199 | +24.0% |
| Gross operating margin | 9900 | €94,438 | -€129,221 | -€223,660 | |
| Operating profit (loss) | 9901 | €82,417 | -€141,891 | -€224,308 | |
| Financial income | 75/76B | €745 | €945 | +€200 | +26.9% |
| Recurring financial income | 75 | €745 | €945 | +€200 | +26.9% |
| Financial charges | 65/66B | €2,357 | €1,705 | -€652 | -27.7% |
| Recurring financial charges | 65 | €2,357 | €1,705 | -€652 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €80,805 | -€142,651 | -€223,456 | |
| Income taxes | 67/77 | €25,390 | €232 | -€25,158 | -99.1% |
| Profit (loss) for the period | 9904 | €55,414 | -€142,883 | -€198,298 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,414 | -€142,883 | -€198,298 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.