KEET: 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.
KEET
Largest movements
- Cash -€1,403
down €1,403 (-6.9%), from €20,445 to €19,043
mainly Investment in fixed assets (net) (-€8,461) and Debts after one year (-€2,143)
- Deferred charges and accrued income +€721
up €721 (+77.4%), from €932 to €1,653
- Profit (loss) carried forward +€4,831
up €4,831 (+17.7%), from €27,259 to €32,090
- Debts after one year -€2,143
down €2,143 (-24.7%), from €8,668 to €6,525
- Trade debts -€1,731
down €1,731 (-38.6%), from €4,481 to €2,749
- Tax, wage and social debts -€1,382
down €1,382 (-21.2%), from €6,521 to €5,139
of which Taxes: -€1,784
- Taxes +€2,580
up €2,580 (+94.9%), from €2,719 to €5,299
- Depreciation +€1,048
up €1,048 (+15.9%), from €6,584 to €7,633
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 | €63,355 | €62,946 | -€409 | -0.6% |
| Fixed assets | 21/28 | €37,665 | €38,494 | +€829 | +2.2% |
| Tangible fixed assets | 22/27 | €33,729 | €34,337 | +€608 | +1.8% |
| Plant, machinery and equipment | 23 | €5,325 | €3,491 | -€1,834 | -34.4% |
| Furniture and vehicles | 24 | €15,602 | €19,942 | +€4,339 | +27.8% |
| Other tangible fixed assets | 26 | €12,801 | €10,904 | -€1,897 | -14.8% |
| Financial fixed assets | 28 | €3,936 | €4,157 | +€220 | +5.6% |
| Current assets | 29/58 | €25,690 | €24,452 | -€1,238 | -4.8% |
| Stocks and contracts in progress | 3 | €1,212 | €950 | -€262 | -21.6% |
| Stocks | 30/36 | €1,212 | €950 | -€262 | -21.6% |
| Amounts receivable within one year | 40/41 | €3,100 | €2,805 | -€294 | -9.5% |
| Trade receivables | 40 | €1,232 | €1,695 | +€463 | +37.6% |
| Other amounts receivable | 41 | €1,868 | €1,111 | -€757 | -40.5% |
| Cash at bank and in hand | 54/58 | €20,445 | €19,043 | -€1,403 | -6.9% |
| Deferred charges and accrued income | 490/1 | €932 | €1,653 | +€721 | +77.4% |
| Total equity and liabilities | 10/49 | €63,355 | €62,946 | -€409 | -0.6% |
| Equity | 10/15 | €41,559 | €46,390 | +€4,831 | +11.6% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €1,300 | €1,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,300 | €1,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,300 | €1,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,259 | €32,090 | +€4,831 | +17.7% |
| Amounts payable | 17/49 | €21,796 | €16,556 | -€5,240 | -24.0% |
| Amounts payable after more than one year | 17 | €8,668 | €6,525 | -€2,143 | -24.7% |
| Financial debts | 170/4 | €8,668 | €6,525 | -€2,143 | -24.7% |
| Amounts payable within one year | 42/48 | €13,128 | €10,031 | -€3,097 | -23.6% |
| Current portion of amounts payable after more than one year | 42 | €2,127 | €2,143 | +€16 | +0.8% |
| Trade debts | 44 | €4,481 | €2,749 | -€1,731 | -38.6% |
| Suppliers | 440/4 | €4,481 | €2,749 | -€1,731 | -38.6% |
| Taxes, remuneration and social security | 45 | €6,521 | €5,139 | -€1,382 | -21.2% |
| Taxes | 450/3 | €2,556 | €772 | -€1,784 | -69.8% |
| Remuneration and social security | 454/9 | €3,964 | €4,367 | +€403 | +10.2% |
| Remuneration, social security and pensions | 62 | €32,639 | €32,648 | +€9 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,584 | €7,633 | +€1,048 | +15.9% |
| Other operating charges | 640/8 | €1,437 | €1,671 | +€235 | +16.3% |
| Gross operating margin | 9900 | €52,651 | €52,425 | -€226 | -0.4% |
| Operating profit (loss) | 9901 | €11,991 | €10,473 | -€1,518 | -12.7% |
| Financial income | 75/76B | €143 | €33 | -€110 | -76.7% |
| Recurring financial income | 75 | €143 | €33 | -€110 | -76.7% |
| Financial charges | 65/66B | €418 | €377 | -€41 | -9.8% |
| Recurring financial charges | 65 | €418 | €377 | -€41 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €11,716 | €10,130 | -€1,587 | -13.5% |
| Income taxes | 67/77 | €2,719 | €5,299 | +€2,580 | +94.9% |
| Profit (loss) for the period | 9904 | €8,998 | €4,831 | -€4,167 | -46.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,998 | €4,831 | -€4,167 | -46.3% |
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 28 October 2026 via checked.be.