KEIJZER: 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.
KEIJZER
Largest movements
- Receivables within one year +€45,361
up €45,361 (+47.2%), from €96,046 to €141,407
of which Trade receivables: +€33,543
- Reserves +€55,097
up €55,097 (+299.2%), from €18,415 to €73,512
- Trade debts -€20,481
down €20,481 (-28.6%), from €71,496 to €51,015
- Tax, wage and social debts +€10,691
up €10,691 (+205.0%), from €5,215 to €15,906
- Gross operating margin +€79,179
up €79,179 (+1193.2%), from €6,636 to €85,815
- Taxes +€13,596
up €13,596 (+588.6%), from €2,310 to €15,906
- Financial income +€1,030
up €1,030 (+31.8%), from €3,239 to €4,270
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 | €97,126 | €142,433 | +€45,306 | +46.6% |
| Fixed assets | 21/28 | - | €656 | +€656 | |
| Tangible fixed assets | 22/27 | - | €656 | +€656 | |
| Plant, machinery and equipment | 23 | - | €656 | +€656 | |
| Current assets | 29/58 | €97,126 | €141,777 | +€44,651 | +46.0% |
| Amounts receivable within one year | 40/41 | €96,046 | €141,407 | +€45,361 | +47.2% |
| Trade receivables | 40 | €8,272 | €41,815 | +€33,543 | +405.5% |
| Other amounts receivable | 41 | €87,774 | €99,592 | +€11,818 | +13.5% |
| Cash at bank and in hand | 54/58 | €1,080 | €370 | -€710 | -65.8% |
| Total equity and liabilities | 10/49 | €97,126 | €142,433 | +€45,306 | +46.6% |
| Equity | 10/15 | €20,415 | €75,512 | +€55,097 | +269.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €18,415 | €73,512 | +€55,097 | +299.2% |
| Distributable reserves | 133 | €18,415 | €73,512 | +€55,097 | +299.2% |
| Amounts payable | 17/49 | €76,712 | €66,921 | -€9,791 | -12.8% |
| Amounts payable within one year | 42/48 | €76,712 | €66,921 | -€9,791 | -12.8% |
| Trade debts | 44 | €71,496 | €51,015 | -€20,481 | -28.6% |
| Suppliers | 440/4 | €71,496 | €51,015 | -€20,481 | -28.6% |
| Taxes, remuneration and social security | 45 | €5,215 | €15,906 | +€10,691 | +205.0% |
| Taxes | 450/3 | €5,215 | €15,906 | +€10,691 | +205.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €20 | +€20 | |
| Other operating charges | 640/8 | €171 | €685 | +€514 | +300.9% |
| Gross operating margin | 9900 | €6,636 | €85,815 | +€79,179 | +1193.2% |
| Operating profit (loss) | 9901 | €6,465 | €85,110 | +€78,645 | +1216.5% |
| Financial income | 75/76B | €3,239 | €4,270 | +€1,030 | +31.8% |
| Recurring financial income | 75 | €3,239 | €4,270 | +€1,030 | +31.8% |
| Financial charges | 65/66B | €415 | €1,103 | +€688 | +165.8% |
| Recurring financial charges | 65 | €415 | €1,103 | +€688 | +165.8% |
| Profit (loss) for the period before taxes | 9903 | €9,289 | €88,277 | +€78,988 | +850.3% |
| Income taxes | 67/77 | €2,310 | €15,906 | +€13,596 | +588.6% |
| Profit (loss) for the period | 9904 | €6,979 | €72,371 | +€65,392 | +936.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,979 | €72,371 | +€65,392 | +936.9% |
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 30 September 2026 via checked.be.