KEON: 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.
KEON
Largest movements
- Receivables within one year -€31,899
down €31,899 (-35.5%), from €89,784 to €57,885
of which Trade receivables: -€32,696
- Cash +€5,470
up €5,470 (+20.7%), from €26,367 to €31,837
mainly Receivables within one year (+€31,899) and Other debts (+€8,787)
- Trade debts -€19,575
down €19,575 (-45.4%), from €43,108 to €23,533
- Reserves -€9,962
down €9,962 (-18.8%), from €53,101 to €43,139
- Other debts +€8,787
up €8,787 (+285.4%), from €3,078 to €11,865
- Tax, wage and social debts -€5,077
down €5,077 (-39.9%), from €12,734 to €7,656
of which Taxes: -€3,769
- Accrued charges and deferred income -€2,100
down €2,100 (-84.0%), from €2,500 to €400
- Staff costs +€7,876
up €7,876 (+20.6%), from €38,260 to €46,136
- Gross operating margin +€7,008
up €7,008 (+13.3%), from €52,613 to €59,621
- Financial charges +€2,431
up €2,431 (+5818.3%), from €42 to €2,473
- Taxes -€966
down €966 (-26.6%), from €3,629 to €2,662
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 | €120,721 | €92,793 | -€27,928 | -23.1% |
| Fixed assets | 21/28 | €1,810 | €710 | -€1,100 | -60.8% |
| Tangible fixed assets | 22/27 | €1,810 | €710 | -€1,100 | -60.8% |
| Plant, machinery and equipment | 23 | €1,291 | €685 | -€607 | -47.0% |
| Furniture and vehicles | 24 | €519 | €25 | -€494 | -95.1% |
| Current assets | 29/58 | €118,910 | €92,083 | -€26,827 | -22.6% |
| Amounts receivable within one year | 40/41 | €89,784 | €57,885 | -€31,899 | -35.5% |
| Trade receivables | 40 | €86,034 | €53,338 | -€32,696 | -38.0% |
| Other amounts receivable | 41 | €3,750 | €4,547 | +€797 | +21.3% |
| Cash at bank and in hand | 54/58 | €26,367 | €31,837 | +€5,470 | +20.7% |
| Deferred charges and accrued income | 490/1 | €2,759 | €2,361 | -€398 | -14.4% |
| Total equity and liabilities | 10/49 | €120,721 | €92,793 | -€27,928 | -23.1% |
| Equity | 10/15 | €59,301 | €49,339 | -€9,962 | -16.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €53,101 | €43,139 | -€9,962 | -18.8% |
| Distributable reserves | 133 | €53,101 | €43,139 | -€9,962 | -18.8% |
| Amounts payable | 17/49 | €61,420 | €43,454 | -€17,966 | -29.3% |
| Amounts payable within one year | 42/48 | €58,920 | €43,054 | -€15,865 | -26.9% |
| Trade debts | 44 | €43,108 | €23,533 | -€19,575 | -45.4% |
| Suppliers | 440/4 | €43,108 | €23,533 | -€19,575 | -45.4% |
| Taxes, remuneration and social security | 45 | €12,734 | €7,656 | -€5,077 | -39.9% |
| Taxes | 450/3 | €11,425 | €7,656 | -€3,769 | -33.0% |
| Remuneration and social security | 454/9 | €1,309 | €0 | -€1,309 | -100.0% |
| Other amounts payable | 47/48 | €3,078 | €11,865 | +€8,787 | +285.4% |
| Accrued charges and deferred income | 492/3 | €2,500 | €400 | -€2,100 | -84.0% |
| Remuneration, social security and pensions | 62 | €38,260 | €46,136 | +€7,876 | +20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,581 | €1,626 | +€46 | +2.9% |
| Other operating charges | 640/8 | €189 | €196 | +€6 | +3.4% |
| Gross operating margin | 9900 | €52,613 | €59,621 | +€7,008 | +13.3% |
| Operating profit (loss) | 9901 | €12,583 | €11,662 | -€921 | -7.3% |
| Financial income | 75/76B | €11 | €10 | -€0 | -4.5% |
| Recurring financial income | 75 | €11 | €10 | -€0 | -4.5% |
| Financial charges | 65/66B | €42 | €2,473 | +€2,431 | +5818.3% |
| Recurring financial charges | 65 | €42 | €2,473 | +€2,431 | +5818.3% |
| Profit (loss) for the period before taxes | 9903 | €12,552 | €9,199 | -€3,353 | -26.7% |
| Income taxes | 67/77 | €3,629 | €2,662 | -€966 | -26.6% |
| Profit (loss) for the period | 9904 | €8,923 | €6,537 | -€2,386 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,923 | €6,537 | -€2,386 | -26.7% |
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 11 October 2026 via checked.be.