KEIJER: 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.
KEIJER
Largest movements
- Receivables within one year +€42,875
up €42,875 (+60.7%), from €70,596 to €113,471
of which Other amounts receivable: +€40,833
- Tangible fixed assets -€3,013
down €3,013 (-30.3%), from €9,940 to €6,927
- Cash -€1,518
down €1,518 (-10.9%), from €13,929 to €12,410
mainly Receivables within one year (-€42,875) and Tax, wage and social debts (-€2,900)
- Reserves +€41,383
up €41,383 (+67.0%), from €61,809 to €103,192
- Tax, wage and social debts -€2,900
down €2,900 (-18.7%), from €15,472 to €12,572
of which Remuneration and social security: -€2,666
- Gross operating margin +€15,773
up €15,773 (+37.5%), from €42,109 to €57,882
- Taxes +€4,842
up €4,842 (+40.5%), from €11,952 to €16,794
- Financial income +€1,613
up €1,613 (+60.4%), from €2,672 to €4,285
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 | €94,465 | €132,808 | +€38,343 | +40.6% |
| Fixed assets | 21/28 | €9,940 | €6,927 | -€3,013 | -30.3% |
| Tangible fixed assets | 22/27 | €9,940 | €6,927 | -€3,013 | -30.3% |
| Furniture and vehicles | 24 | €9,940 | €6,927 | -€3,013 | -30.3% |
| Current assets | 29/58 | €84,525 | €125,882 | +€41,357 | +48.9% |
| Amounts receivable within one year | 40/41 | €70,596 | €113,471 | +€42,875 | +60.7% |
| Trade receivables | 40 | €8,415 | €10,457 | +€2,042 | +24.3% |
| Other amounts receivable | 41 | €62,181 | €103,014 | +€40,833 | +65.7% |
| Cash at bank and in hand | 54/58 | €13,929 | €12,410 | -€1,518 | -10.9% |
| Total equity and liabilities | 10/49 | €94,465 | €132,808 | +€38,343 | +40.6% |
| Equity | 10/15 | €64,809 | €106,192 | +€41,383 | +63.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €61,809 | €103,192 | +€41,383 | +67.0% |
| Distributable reserves | 133 | €61,809 | €103,192 | +€41,383 | +67.0% |
| Amounts payable | 17/49 | €29,657 | €26,617 | -€3,040 | -10.2% |
| Amounts payable within one year | 42/48 | €29,657 | €26,617 | -€3,040 | -10.2% |
| Trade debts | 44 | €14,185 | €14,045 | -€139 | -1.0% |
| Suppliers | 440/4 | €14,185 | €14,045 | -€139 | -1.0% |
| Taxes, remuneration and social security | 45 | €15,472 | €12,572 | -€2,900 | -18.7% |
| Taxes | 450/3 | €12,806 | €12,572 | -€234 | -1.8% |
| Remuneration and social security | 454/9 | €2,666 | - | -€2,666 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,013 | €3,013 | = | 0.0% |
| Other operating charges | 640/8 | €1,180 | €797 | -€382 | -32.4% |
| Gross operating margin | 9900 | €42,109 | €57,882 | +€15,773 | +37.5% |
| Operating profit (loss) | 9901 | €37,916 | €54,071 | +€16,156 | +42.6% |
| Financial income | 75/76B | €2,672 | €4,285 | +€1,613 | +60.4% |
| Recurring financial income | 75 | €2,672 | €4,285 | +€1,613 | +60.4% |
| Financial charges | 65/66B | €147 | €179 | +€33 | +22.2% |
| Recurring financial charges | 65 | €147 | €179 | +€33 | +22.2% |
| Profit (loss) for the period before taxes | 9903 | €40,441 | €58,177 | +€17,736 | +43.9% |
| Income taxes | 67/77 | €11,952 | €16,794 | +€4,842 | +40.5% |
| Profit (loss) for the period | 9904 | €28,489 | €41,383 | +€12,894 | +45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,489 | €41,383 | +€12,894 | +45.3% |
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 17 October 2026 via checked.be.