Keep Growing: 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.
Keep Growing
Largest movements
- Cash +€24,669
up €24,669 (+74.0%), from €33,336 to €58,005
mainly Net result for the year (+€50,348) and Depreciation (+€21,255)
- Tangible fixed assets -€20,330
down €20,330 (-21.7%), from €93,748 to €73,418
of which Leasing and similar rights: -€26,871
- Receivables within one year +€4,353
up €4,353 (+16.6%), from €26,254 to €30,607
of which Trade receivables: +€4,354
- Deferred charges and accrued income +€3,484
up €3,484 (+106.3%), from €3,277 to €6,761
- Intangible fixed assets +€3,345
new in 2025: €3,345
- Profit (loss) carried forward +€50,348
up €50,348 (+131.4%), from €38,321 to €88,669
- Debts after one year -€25,168
down €25,168 (-48.0%), from €52,406 to €27,238
- Current portion of long-term debt -€6,558
down €6,558 (-28.3%), from €23,214 to €16,656
- Tax, wage and social debts +€3,251
up €3,251 (+17.0%), from €19,093 to €22,343
of which Taxes: +€3,374
- Trade debts -€2,266
down €2,266 (-32.3%), from €7,020 to €4,754
- Gross operating margin +€21,164
up €21,164 (+29.6%), from €71,576 to €92,740
- Taxes +€4,426
up €4,426 (+36.0%), from €12,310 to €16,736
- Depreciation +€2,950
up €2,950 (+16.1%), from €18,305 to €21,255
- Other operating charges +€1,721
up €1,721 (+121.6%), from €1,415 to €3,135
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 | €199,317 | €217,490 | +€18,173 | +9.1% |
| Fixed assets | 21/28 | €93,748 | €76,763 | -€16,985 | -18.1% |
| Intangible fixed assets | 21 | - | €3,345 | +€3,345 | |
| Tangible fixed assets | 22/27 | €93,748 | €73,418 | -€20,330 | -21.7% |
| Plant, machinery and equipment | 23 | €41,040 | €36,478 | -€4,562 | -11.1% |
| Furniture and vehicles | 24 | €6,803 | €17,905 | +€11,103 | +163.2% |
| Leasing and similar rights | 25 | €45,905 | €19,034 | -€26,871 | -58.5% |
| Current assets | 29/58 | €105,569 | €140,727 | +€35,158 | +33.3% |
| Amounts receivable after more than one year | 29 | €42,702 | €45,354 | +€2,652 | +6.2% |
| Other amounts receivable | 291 | €42,702 | €45,354 | +€2,652 | +6.2% |
| Amounts receivable within one year | 40/41 | €26,254 | €30,607 | +€4,353 | +16.6% |
| Trade receivables | 40 | €22,103 | €26,457 | +€4,354 | +19.7% |
| Other amounts receivable | 41 | €4,151 | €4,150 | -€1 | 0.0% |
| Cash at bank and in hand | 54/58 | €33,336 | €58,005 | +€24,669 | +74.0% |
| Deferred charges and accrued income | 490/1 | €3,277 | €6,761 | +€3,484 | +106.3% |
| Total equity and liabilities | 10/49 | €199,317 | €217,490 | +€18,173 | +9.1% |
| Equity | 10/15 | €93,549 | €143,897 | +€50,348 | +53.8% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €47,728 | €47,728 | = | 0.0% |
| Distributable reserves | 133 | €47,728 | €47,728 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,321 | €88,669 | +€50,348 | +131.4% |
| Amounts payable | 17/49 | €105,768 | €73,593 | -€32,175 | -30.4% |
| Amounts payable after more than one year | 17 | €52,406 | €27,238 | -€25,168 | -48.0% |
| Financial debts | 170/4 | €52,406 | €27,238 | -€25,168 | -48.0% |
| Amounts payable within one year | 42/48 | €53,083 | €46,256 | -€6,828 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €23,214 | €16,656 | -€6,558 | -28.3% |
| Trade debts | 44 | €7,020 | €4,754 | -€2,266 | -32.3% |
| Suppliers | 440/4 | €7,020 | €4,754 | -€2,266 | -32.3% |
| Taxes, remuneration and social security | 45 | €19,093 | €22,343 | +€3,251 | +17.0% |
| Taxes | 450/3 | €18,969 | €22,343 | +€3,374 | +17.8% |
| Remuneration and social security | 454/9 | €124 | - | -€124 | |
| Other amounts payable | 47/48 | €3,757 | €2,503 | -€1,254 | -33.4% |
| Accrued charges and deferred income | 492/3 | €279 | €100 | -€179 | -64.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,305 | €21,255 | +€2,950 | +16.1% |
| Other operating charges | 640/8 | €1,415 | €3,135 | +€1,721 | +121.6% |
| Gross operating margin | 9900 | €71,576 | €92,740 | +€21,164 | +29.6% |
| Operating profit (loss) | 9901 | €51,856 | €68,349 | +€16,494 | +31.8% |
| Financial income | 75/76B | €2,505 | €2,661 | +€156 | +6.2% |
| Recurring financial income | 75 | €2,505 | €2,661 | +€156 | +6.2% |
| Financial charges | 65/66B | €3,730 | €3,927 | +€197 | +5.3% |
| Recurring financial charges | 65 | €3,730 | €3,927 | +€197 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €50,631 | €67,084 | +€16,452 | +32.5% |
| Income taxes | 67/77 | €12,310 | €16,736 | +€4,426 | +36.0% |
| Profit (loss) for the period | 9904 | €38,321 | €50,348 | +€12,026 | +31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €38,321 | €50,348 | +€12,026 | +31.4% |
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 11 October 2026 via checked.be.