Keiler Construct: 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.
Keiler Construct
Largest movements
- Receivables within one year +€34,758
up €34,758 (+408.2%), from €8,515 to €43,273
of which Trade receivables: +€24,200
- Tangible fixed assets -€21,568
down €21,568 (-24.7%), from €87,347 to €65,779
of which Furniture and vehicles: -€22,165
- Cash -€16,561
down €16,561 (-9.8%), from €168,293 to €151,732
mainly Contributions, distributions and other (-€80,845) and Receivables within one year (-€34,758)
- Deferred charges and accrued income -€14,921
down €14,921 (-89.9%), from €16,595 to €1,674
- Other debts +€59,030
up €59,030 (+270.6%), from €21,815 to €80,845
- Profit (loss) carried forward -€45,878
down €45,878 (-100.0%), from €45,878 to €0
- Debts after one year -€19,222
down €19,222 (-48.7%), from €39,451 to €20,229
- Advances received -€9,075
down €9,075 (-100.0%), from €9,075 to €0
- Current portion of long-term debt -€4,465
down €4,465 (-18.9%), from €23,687 to €19,222
- Gross operating margin -€12,370
down €12,370 (-13.7%), from €90,516 to €78,147
- Taxes -€1,330
down €1,330 (-10.5%), from €12,616 to €11,286
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 | €280,750 | €262,458 | -€18,291 | -6.5% |
| Fixed assets | 21/28 | €87,347 | €65,779 | -€21,568 | -24.7% |
| Tangible fixed assets | 22/27 | €87,347 | €65,779 | -€21,568 | -24.7% |
| Land and buildings | 22 | €15,000 | €15,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €66 | €0 | -€66 | -100.0% |
| Furniture and vehicles | 24 | €64,087 | €41,922 | -€22,165 | -34.6% |
| Other tangible fixed assets | 26 | €8,194 | €8,857 | +€663 | +8.1% |
| Current assets | 29/58 | €193,403 | €196,679 | +€3,276 | +1.7% |
| Amounts receivable within one year | 40/41 | €8,515 | €43,273 | +€34,758 | +408.2% |
| Trade receivables | 40 | €6,050 | €30,250 | +€24,200 | +400.0% |
| Other amounts receivable | 41 | €2,465 | €13,023 | +€10,558 | +428.4% |
| Cash at bank and in hand | 54/58 | €168,293 | €151,732 | -€16,561 | -9.8% |
| Deferred charges and accrued income | 490/1 | €16,595 | €1,674 | -€14,921 | -89.9% |
| Total equity and liabilities | 10/49 | €280,750 | €262,458 | -€18,291 | -6.5% |
| Equity | 10/15 | €172,767 | €126,889 | -€45,878 | -26.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €108,289 | €108,289 | = | 0.0% |
| Distributable reserves | 133 | €108,289 | €108,289 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,878 | €0 | -€45,878 | -100.0% |
| Amounts payable | 17/49 | €107,983 | €135,569 | +€27,586 | +25.5% |
| Amounts payable after more than one year | 17 | €39,451 | €20,229 | -€19,222 | -48.7% |
| Financial debts | 170/4 | €39,451 | €20,229 | -€19,222 | -48.7% |
| Amounts payable within one year | 42/48 | €68,332 | €115,140 | +€46,808 | +68.5% |
| Current portion of amounts payable after more than one year | 42 | €23,687 | €19,222 | -€4,465 | -18.9% |
| Trade debts | 44 | €1,634 | €2,224 | +€590 | +36.1% |
| Suppliers | 440/4 | €1,634 | €2,224 | +€590 | +36.1% |
| Advances received on contracts in progress | 46 | €9,075 | €0 | -€9,075 | -100.0% |
| Taxes, remuneration and social security | 45 | €12,122 | €12,849 | +€728 | +6.0% |
| Taxes | 450/3 | €9,472 | €10,199 | +€728 | +7.7% |
| Remuneration and social security | 454/9 | €2,650 | €2,650 | = | 0.0% |
| Other amounts payable | 47/48 | €21,815 | €80,845 | +€59,030 | +270.6% |
| Accrued charges and deferred income | 492/3 | €200 | €200 | = | 0.0% |
| Non-recurring operating income | 76A | - | €2,479 | +€2,479 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,927 | €27,241 | +€313 | +1.2% |
| Other operating charges | 640/8 | €2,253 | €1,422 | -€831 | -36.9% |
| Non-recurring operating charges | 66A | - | €1,031 | +€1,031 | |
| Gross operating margin | 9900 | €90,516 | €78,147 | -€12,370 | -13.7% |
| Operating profit (loss) | 9901 | €61,336 | €48,453 | -€12,883 | -21.0% |
| Financial income | 75/76B | €4 | €55 | +€51 | +1280.2% |
| Recurring financial income | 75 | €4 | €55 | +€51 | +1280.2% |
| Financial charges | 65/66B | €2,846 | €2,255 | -€591 | -20.8% |
| Recurring financial charges | 65 | €2,846 | €2,255 | -€591 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €58,494 | €46,254 | -€12,240 | -20.9% |
| Income taxes | 67/77 | €12,616 | €11,286 | -€1,330 | -10.5% |
| Profit (loss) for the period | 9904 | €45,878 | €34,967 | -€10,910 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €45,878 | €34,967 | -€10,910 | -23.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.