KELLER & ASSOCIES: 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.
KELLER & ASSOCIES
Largest movements
- Cash -€29,069
down €29,069 (-62.0%), from €46,894 to €17,825
mainly Contributions, distributions and other (-€68,188) and Debts after one year (-€65,925)
- Tangible fixed assets -€13,795
down €13,795 (-5.8%), from €236,730 to €222,934
of which Land and buildings: -€8,000
- Receivables within one year -€8,805
down €8,805 (-5.4%), from €162,795 to €153,990
of which Other amounts receivable: -€18,957
- Reserves -€68,188
down €68,188 (-68.2%), from €100,048 to €31,860
of which Distributable reserves: -€68,188
- Debts after one year -€65,925
down €65,925 (-29.3%), from €225,337 to €159,412
- Profit (loss) carried forward +€47,357
up €47,357, from -€16,625 to €30,731
- Other debts +€42,138
up €42,138 (+85.4%), from €49,361 to €91,499
- Trade debts -€33,336
down €33,336 (-32.5%), from €102,643 to €69,307
- Gross operating margin +€118,012
up €118,012 (+70.4%), from €167,623 to €285,635
- Staff costs +€66,133
up €66,133 (+93.5%), from €70,760 to €136,893
- Financial charges +€49,781
up €49,781 (+438%), from €11,376 to €61,157
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 | €516,693 | €465,282 | -€51,411 | -9.9% |
| Fixed assets | 21/28 | €236,730 | €222,934 | -€13,795 | -5.8% |
| Tangible fixed assets | 22/27 | €236,730 | €222,934 | -€13,795 | -5.8% |
| Land and buildings | 22 | €194,000 | €186,000 | -€8,000 | -4.1% |
| Plant, machinery and equipment | 23 | €23,447 | €19,771 | -€3,676 | -15.7% |
| Furniture and vehicles | 24 | €19,283 | €17,164 | -€2,119 | -11.0% |
| Current assets | 29/58 | €279,964 | €242,348 | -€37,615 | -13.4% |
| Stocks and contracts in progress | 3 | €70,274 | €70,533 | +€258 | +0.4% |
| Stocks | 30/36 | €70,274 | €70,533 | +€258 | +0.4% |
| Amounts receivable within one year | 40/41 | €162,795 | €153,990 | -€8,805 | -5.4% |
| Trade receivables | 40 | €43,838 | €53,990 | +€10,152 | +23.2% |
| Other amounts receivable | 41 | €118,957 | €100,000 | -€18,957 | -15.9% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €46,894 | €17,825 | -€29,069 | -62.0% |
| Total equity and liabilities | 10/49 | €516,693 | €465,282 | -€51,411 | -9.9% |
| Equity | 10/15 | €102,023 | €81,191 | -€20,832 | -20.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €100,048 | €31,860 | -€68,188 | -68.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €98,188 | €30,000 | -€68,188 | -69.4% |
| Profit (loss) carried forward | 14 | -€16,625 | €30,731 | +€47,357 | |
| Amounts payable | 17/49 | €414,670 | €384,091 | -€30,579 | -7.4% |
| Amounts payable after more than one year | 17 | €225,337 | €159,412 | -€65,925 | -29.3% |
| Financial debts | 170/4 | €225,337 | €159,412 | -€65,925 | -29.3% |
| Amounts payable within one year | 42/48 | €189,333 | €224,679 | +€35,346 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €14,033 | €35,629 | +€21,597 | +154% |
| Financial debts | 43 | €4,998 | €4,998 | = | 0.0% |
| Credit institutions | 430/8 | €4,998 | €4,998 | = | 0.0% |
| Trade debts | 44 | €102,643 | €69,307 | -€33,336 | -32.5% |
| Suppliers | 440/4 | €102,643 | €69,307 | -€33,336 | -32.5% |
| Taxes, remuneration and social security | 45 | €18,298 | €23,246 | +€4,948 | +27.0% |
| Taxes | 450/3 | €3,339 | €9,123 | +€5,784 | +173% |
| Remuneration and social security | 454/9 | €14,959 | €14,123 | -€836 | -5.6% |
| Other amounts payable | 47/48 | €49,361 | €91,499 | +€42,138 | +85.4% |
| Remuneration, social security and pensions | 62 | €70,760 | €136,893 | +€66,133 | +93.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,127 | €18,374 | -€754 | -3.9% |
| Other operating charges | 640/8 | €9,585 | €8,015 | -€1,570 | -16.4% |
| Gross operating margin | 9900 | €167,623 | €285,635 | +€118,012 | +70.4% |
| Operating profit (loss) | 9901 | €68,151 | €122,354 | +€54,203 | +79.5% |
| Financial income | 75/76B | €5,660 | €5,492 | -€168 | -3.0% |
| Recurring financial income | 75 | €5,660 | €5,492 | -€168 | -3.0% |
| Financial charges | 65/66B | €11,376 | €61,157 | +€49,781 | +438% |
| Recurring financial charges | 65 | €11,376 | €61,157 | +€49,781 | +438% |
| Profit (loss) for the period before taxes | 9903 | €62,435 | €66,689 | +€4,254 | +6.8% |
| Income taxes | 67/77 | €16,741 | €19,332 | +€2,591 | +15.5% |
| Profit (loss) for the period | 9904 | €45,693 | €47,357 | +€1,663 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,693 | €47,357 | +€1,663 | +3.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.