KEESTRACK: 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.
What changed
KEESTRACK
NACE 46.644, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€330,753
2024 · €25,699+€305,054
Equity
€10.3m
2024 · €10.0m+€330,753
Cash
€490,483
2024 · €1.4m-€935,135
Balance sheet total
€26.8m
2024 · €24.5m+€2.3m
Largest movements
Assets
- Receivables within one year +€2.8m
up €2.8m (+26.6%), from €10.6m to €13.4m
of which Trade receivables: +€2.2m
- Cash -€935,135
down €935,135 (-65.6%), from €1.4m to €490,483
mainly Receivables within one year (-€2.8m) and Receivables after one year (-€646,547)
- Receivables after one year +€646,547
up €646,547 (+8.8%), from €7.3m to €8.0m
Equity and liabilities
- Trade debts +€1.9m
up €1.9m (+35.9%), from €5.2m to €7.1m
- Other debts +€647,770
up €647,770 (+54992.2%), from €1,178 to €648,948
- Profit (loss) carried forward +€330,753
up €330,753 (+7.6%), from €4.3m to €4.7m
- Advances received -€288,071
no longer reported in 2025 (was €288,071)
Income statement
- Turnover +€10.8m
up €10.8m (+27.2%), from €39.7m to €50.5m
- Goods and materials +€9.1m
up €9.1m (+25.8%), from €35.3m to €44.4m
of which Purchases: +€8.6m
- Write-downs +€548,496
up €548,496, from -€5,926 to €542,570
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.
Result 2024
€25,699
Turnover
+€10.8m
Other operating income
-€320,845
Goods and materials
-€9.1m
Services and other goods
-€187,139
Staff costs
+€142,245
Depreciation
-€31,029
Write-downs
-€548,496
Other operating charges
-€8,551
Other operating items
-€4,000
Financial income
-€75,672
Financial charges
-€332,407
Taxes
-€14,362
Result 2025
€330,753
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.
From operations
-€323,096
Investment
-€619,883
Financing
+€7,844
Cash 2024
€1.4m
From operations (derived)
-€323,096
Net result for the year
+€330,753
Depreciation
+€635,151
Receivables after one year
-€646,547
Stocks and contracts
+€139,413
Receivables within one year
-€2.8m
Deferred charges and accrued income
+€17,771
Trade debts
+€1.9m
Tax, wage and social debts
-€63,481
Advances received
-€288,071
Other debts
+€647,770
Accrued charges and deferred income
-€153,569
Investment (derived)
-€619,883
Investment in fixed assets (net)
-€619,883
Financing
+€7,844
Debts after one year
-€3,096
Current portion of long-term debt
-€84,060
Short-term financial debts
+€95,000
Cash 2025
€490,483
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,493,831 | €26,843,804 | +€2.3m | +9.6% |
| Fixed assets | 21/28 | €1,937,409 | €1,922,140 | -€15,269 | -0.8% |
| Intangible fixed assets | 21 | €1,839,552 | €1,827,202 | -€12,350 | -0.7% |
| Tangible fixed assets | 22/27 | €97,856 | €93,461 | -€4,396 | -4.5% |
| Plant, machinery and equipment | 23 | €45,859 | €11,055 | -€34,804 | -75.9% |
| Furniture and vehicles | 24 | €8,646 | €46,810 | +€38,164 | +441.4% |
| Other tangible fixed assets | 26 | €43,351 | €35,596 | -€7,756 | -17.9% |
| Financial fixed assets | 28 | - | €1,477 | +€1,477 | |
| Other financial fixed assets | 284/8 | - | €1,477 | +€1,477 | |
| Amounts receivable and cash guarantees | 285/8 | - | €1,477 | +€1,477 | |
| Current assets | 29/58 | €22,556,423 | €24,921,664 | +€2.4m | +10.5% |
| Amounts receivable after more than one year | 29 | €7,312,550 | €7,959,097 | +€646,547 | +8.8% |
| Other amounts receivable | 291 | €7,312,550 | €7,959,097 | +€646,547 | +8.8% |
| Stocks and contracts in progress | 3 | €3,030,364 | €2,890,951 | -€139,413 | -4.6% |
| Stocks | 30/36 | €3,030,364 | €2,890,951 | -€139,413 | -4.6% |
| Goods purchased for resale | 34 | €3,030,364 | €2,890,951 | -€139,413 | -4.6% |
| Amounts receivable within one year | 40/41 | €10,563,029 | €13,374,041 | +€2.8m | +26.6% |
| Trade receivables | 40 | €7,543,303 | €9,763,812 | +€2.2m | +29.4% |
| Other amounts receivable | 41 | €3,019,726 | €3,610,230 | +€590,504 | +19.6% |
| Cash at bank and in hand | 54/58 | €1,425,618 | €490,483 | -€935,135 | -65.6% |
| Deferred charges and accrued income | 490/1 | €224,862 | €207,091 | -€17,771 | -7.9% |
| Total equity and liabilities | 10/49 | €24,493,831 | €26,843,804 | +€2.3m | +9.6% |
| Equity | 10/15 | €9,956,334 | €10,287,087 | +€330,753 | +3.3% |
| Contributions | 10/11 | €147,075 | €147,075 | = | 0.0% |
| Capital | 10 | €147,075 | €147,075 | = | 0.0% |
| Issued capital | 100 | €147,075 | €147,075 | = | 0.0% |
| Reserves | 13 | €5,484,879 | €5,484,879 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,708 | €14,708 | = | 0.0% |
| Legal reserve | 130 | €14,708 | €14,708 | = | 0.0% |
| Distributable reserves | 133 | €5,470,172 | €5,470,172 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,324,379 | €4,655,132 | +€330,753 | +7.6% |
| Amounts payable | 17/49 | €14,537,497 | €16,556,717 | +€2.0m | +13.9% |
| Amounts payable after more than one year | 17 | €3,096 | - | -€3,096 | |
| Financial debts | 170/4 | €3,096 | - | -€3,096 | |
| Credit institutions | 173 | €3,096 | - | -€3,096 | |
| Amounts payable within one year | 42/48 | €14,294,291 | €16,470,177 | +€2.2m | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €87,156 | €3,096 | -€84,060 | -96.4% |
| Financial debts | 43 | €8,363,000 | €8,458,000 | +€95,000 | +1.1% |
| Credit institutions | 430/8 | €8,363,000 | €8,458,000 | +€95,000 | +1.1% |
| Trade debts | 44 | €5,208,627 | €7,077,354 | +€1.9m | +35.9% |
| Suppliers | 440/4 | €5,208,627 | €7,077,354 | +€1.9m | +35.9% |
| Advances received on contracts in progress | 46 | €288,071 | - | -€288,071 | |
| Taxes, remuneration and social security | 45 | €346,260 | €282,779 | -€63,481 | -18.3% |
| Taxes | 450/3 | €145,259 | €86,368 | -€58,892 | -40.5% |
| Remuneration and social security | 454/9 | €201,001 | €196,411 | -€4,590 | -2.3% |
| Other amounts payable | 47/48 | €1,178 | €648,948 | +€647,770 | +54992.2% |
| Accrued charges and deferred income | 492/3 | €240,110 | €86,541 | -€153,569 | -64.0% |
| Operating income | 70/76A | €40,914,016 | €51,398,290 | +€10.5m | +25.6% |
| Turnover | 70 | €39,717,682 | €50,526,801 | +€10.8m | +27.2% |
| Other operating income | 74 | €1,192,334 | €871,489 | -€320,845 | -26.9% |
| Non-recurring operating income | 76A | €4,000 | - | -€4,000 | |
| Operating charges | 60/66A | €40,871,859 | €50,628,639 | +€9.8m | +23.9% |
| Goods for resale, raw materials and consumables | 60 | €35,326,045 | €44,449,854 | +€9.1m | +25.8% |
| Purchases | 600/8 | €35,754,722 | €44,310,441 | +€8.6m | +23.9% |
| Change in stocks: decrease (increase) | 609 | -€428,677 | €139,413 | +€568,090 | |
| Services and other goods | 61 | €2,619,974 | €2,807,114 | +€187,139 | +7.1% |
| Remuneration, social security and pensions | 62 | €2,272,474 | €2,130,229 | -€142,245 | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €604,122 | €635,151 | +€31,029 | +5.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,926 | €542,570 | +€548,496 | |
| Other operating charges | 640/8 | €55,170 | €63,721 | +€8,551 | +15.5% |
| Operating profit (loss) | 9901 | €42,157 | €769,651 | +€727,494 | +1725.7% |
| Financial income | 75/76B | €863,295 | €787,624 | -€75,672 | -8.8% |
| Recurring financial income | 75 | €863,295 | €787,624 | -€75,672 | -8.8% |
| Income from current assets | 751 | €418,114 | €371,321 | -€46,792 | -11.2% |
| Other financial income | 752/9 | €445,182 | €416,303 | -€28,879 | -6.5% |
| Financial charges | 65/66B | €872,544 | €1,204,950 | +€332,407 | +38.1% |
| Recurring financial charges | 65 | €872,544 | €1,204,950 | +€332,407 | +38.1% |
| Debt charges | 650 | €774,594 | €579,951 | -€194,643 | -25.1% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €544,986 | +€544,986 | |
| Other financial charges | 652/9 | €97,950 | €80,014 | -€17,936 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | €32,908 | €352,325 | +€319,416 | +970.6% |
| Income taxes | 67/77 | €7,210 | €21,572 | +€14,362 | +199.2% |
| Taxes | 670/3 | €11,037 | €21,572 | +€10,535 | +95.5% |
| Tax adjustments and reversals of tax provisions | 77 | €3,827 | - | -€3,827 | |
| Profit (loss) for the period | 9904 | €25,699 | €330,753 | +€305,054 | +1187.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,699 | €330,753 | +€305,054 | +1187.0% |
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 7 October 2026 via checked.be.