KECON: 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.
KECON
Largest movements
- Cash -€8,509
down €8,509 (-100.0%), from €8,509 to €0
mainly Investment in fixed assets (net) (-€12,910) and Receivables within one year (-€7,965)
- Receivables within one year +€7,965
up €7,965 (+30.5%), from €26,142 to €34,107
of which Other amounts receivable: +€9,911
- Tangible fixed assets +€972
up €972 (+5.1%), from €19,178 to €20,150
of which Land and buildings: +€9,716
- Deferred charges and accrued income +€824
up €824 (+78.2%), from €1,054 to €1,878
- Reserves +€3,730
up €3,730 (+17.3%), from €21,572 to €25,302
- Short-term financial debts +€3,484
new in 2025: €3,484
- Tax, wage and social debts -€3,219
down €3,219 (-27.5%), from €11,715 to €8,496
- Trade debts -€2,059
down €2,059 (-24.2%), from €8,512 to €6,453
- Accrued charges and deferred income -€684
down €684 (-100.0%), from €684 to €0
- Provisions +€58,879
up €58,879, from -€58,879 to €0
- Financial charges -€47,849
down €47,849 (-97.0%), from €49,349 to €1,500
- Gross operating margin +€8,799
up €8,799 (+75.0%), from €11,725 to €20,524
- Depreciation -€1,438
down €1,438 (-10.8%), from €13,376 to €11,938
- Taxes -€787
down €787 (-21.6%), from €3,639 to €2,852
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 | €54,883 | €56,135 | +€1,252 | +2.3% |
| Fixed assets | 21/28 | €19,178 | €20,150 | +€972 | +5.1% |
| Tangible fixed assets | 22/27 | €19,178 | €20,150 | +€972 | +5.1% |
| Land and buildings | 22 | - | €9,716 | +€9,716 | |
| Plant, machinery and equipment | 23 | - | €583 | +€583 | |
| Furniture and vehicles | 24 | €15,649 | €7,103 | -€8,545 | -54.6% |
| Other tangible fixed assets | 26 | €3,530 | €2,748 | -€782 | -22.1% |
| Current assets | 29/58 | €35,705 | €35,985 | +€280 | +0.8% |
| Amounts receivable within one year | 40/41 | €26,142 | €34,107 | +€7,965 | +30.5% |
| Trade receivables | 40 | €17,549 | €15,603 | -€1,946 | -11.1% |
| Other amounts receivable | 41 | €8,593 | €18,504 | +€9,911 | +115.3% |
| Cash at bank and in hand | 54/58 | €8,509 | €0 | -€8,509 | -100.0% |
| Deferred charges and accrued income | 490/1 | €1,054 | €1,878 | +€824 | +78.2% |
| Total equity and liabilities | 10/49 | €54,883 | €56,135 | +€1,252 | +2.3% |
| Equity | 10/15 | €33,972 | €37,702 | +€3,730 | +11.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €21,572 | €25,302 | +€3,730 | +17.3% |
| Distributable reserves | 133 | €21,572 | €25,302 | +€3,730 | +17.3% |
| Amounts payable | 17/49 | €20,911 | €18,433 | -€2,478 | -11.9% |
| Amounts payable within one year | 42/48 | €20,228 | €18,433 | -€1,794 | -8.9% |
| Financial debts | 43 | - | €3,484 | +€3,484 | |
| Credit institutions | 430/8 | - | €3,484 | +€3,484 | |
| Trade debts | 44 | €8,512 | €6,453 | -€2,059 | -24.2% |
| Suppliers | 440/4 | €8,512 | €6,453 | -€2,059 | -24.2% |
| Taxes, remuneration and social security | 45 | €11,715 | €8,496 | -€3,219 | -27.5% |
| Taxes | 450/3 | €11,715 | €8,496 | -€3,219 | -27.5% |
| Accrued charges and deferred income | 492/3 | €684 | €0 | -€684 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,376 | €11,938 | -€1,438 | -10.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€58,879 | €0 | +€58,879 | |
| Other operating charges | 640/8 | €926 | €950 | +€24 | +2.6% |
| Gross operating margin | 9900 | €11,725 | €20,524 | +€8,799 | +75.0% |
| Operating profit (loss) | 9901 | €56,302 | €7,636 | -€48,666 | -86.4% |
| Financial income | 75/76B | €321 | €446 | +€126 | +39.2% |
| Recurring financial income | 75 | €321 | €446 | +€126 | +39.2% |
| Financial charges | 65/66B | €49,349 | €1,500 | -€47,849 | -97.0% |
| Recurring financial charges | 65 | €49,349 | €1,500 | -€47,849 | -97.0% |
| Profit (loss) for the period before taxes | 9903 | €7,273 | €6,583 | -€691 | -9.5% |
| Income taxes | 67/77 | €3,639 | €2,852 | -€787 | -21.6% |
| Profit (loss) for the period | 9904 | €3,634 | €3,730 | +€96 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,634 | €3,730 | +€96 | +2.6% |
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 6 October 2026 via checked.be.