KEK-DEM: 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.
KEK-DEM
Largest movements
- Tangible fixed assets -€35,392
down €35,392 (-69.1%), from €51,215 to €15,823
- Receivables within one year +€3,399
up €3,399 (+11.8%), from €28,883 to €32,282
of which Trade receivables: +€3,890
- Profit (loss) carried forward -€33,458
down €33,458, from €5,503 to -€27,955
- Other debts +€19,669
up €19,669 (+79.9%), from €24,621 to €44,289
- Debts after one year -€16,155
down €16,155 (-54.1%), from €29,875 to €13,720
- Tax, wage and social debts -€1,881
down €1,881 (-54.5%), from €3,448 to €1,568
of which Taxes: -€1,881
- Current portion of long-term debt +€873
up €873 (+5.7%), from €15,282 to €16,155
- Gross operating margin -€28,920
down €28,920, from €21,283 to -€7,638
- Depreciation -€10,366
down €10,366 (-41.3%), from €25,095 to €14,729
- Other operating charges -€1,608
down €1,608 (-49.7%), from €3,236 to €1,628
- Financial charges -€480
down €480 (-16.8%), from €2,855 to €2,375
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 | €80,847 | €49,195 | -€31,652 | -39.2% |
| Fixed assets | 21/28 | €51,215 | €15,823 | -€35,392 | -69.1% |
| Tangible fixed assets | 22/27 | €51,215 | €15,823 | -€35,392 | -69.1% |
| Furniture and vehicles | 24 | €51,215 | €15,823 | -€35,392 | -69.1% |
| Current assets | 29/58 | €29,632 | €33,372 | +€3,741 | +12.6% |
| Amounts receivable within one year | 40/41 | €28,883 | €32,282 | +€3,399 | +11.8% |
| Trade receivables | 40 | €26,717 | €30,607 | +€3,890 | +14.6% |
| Other amounts receivable | 41 | €2,166 | €1,675 | -€491 | -22.7% |
| Cash at bank and in hand | 54/58 | €749 | €1,091 | +€342 | +45.6% |
| Total equity and liabilities | 10/49 | €80,847 | €49,195 | -€31,652 | -39.2% |
| Equity | 10/15 | €6,503 | -€26,955 | -€33,458 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,503 | -€27,955 | -€33,458 | |
| Amounts payable | 17/49 | €74,344 | €76,151 | +€1,806 | +2.4% |
| Amounts payable after more than one year | 17 | €29,875 | €13,720 | -€16,155 | -54.1% |
| Financial debts | 170/4 | €29,875 | €13,720 | -€16,155 | -54.1% |
| Amounts payable within one year | 42/48 | €44,470 | €62,431 | +€17,961 | +40.4% |
| Current portion of amounts payable after more than one year | 42 | €15,282 | €16,155 | +€873 | +5.7% |
| Trade debts | 44 | €1,119 | €419 | -€700 | -62.5% |
| Suppliers | 440/4 | €1,119 | €419 | -€700 | -62.5% |
| Taxes, remuneration and social security | 45 | €3,448 | €1,568 | -€1,881 | -54.5% |
| Taxes | 450/3 | €1,916 | €35 | -€1,881 | -98.2% |
| Remuneration and social security | 454/9 | €1,532 | €1,532 | = | 0.0% |
| Other amounts payable | 47/48 | €24,621 | €44,289 | +€19,669 | +79.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,095 | €14,729 | -€10,366 | -41.3% |
| Other operating charges | 640/8 | €3,236 | €1,628 | -€1,608 | -49.7% |
| Non-recurring operating charges | 66A | - | €7,089 | +€7,089 | |
| Gross operating margin | 9900 | €21,283 | -€7,638 | -€28,920 | |
| Operating profit (loss) | 9901 | -€7,048 | -€31,083 | -€24,035 | -341% |
| Financial charges | 65/66B | €2,855 | €2,375 | -€480 | -16.8% |
| Recurring financial charges | 65 | €2,855 | €2,375 | -€480 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | -€9,903 | -€33,458 | -€23,555 | -238% |
| Income taxes | 67/77 | €168 | - | -€168 | |
| Profit (loss) for the period | 9904 | -€10,071 | -€33,458 | -€23,387 | -232% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,071 | -€33,458 | -€23,387 | -232% |
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 23 October 2026 via checked.be.