KETOVET: 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.
KETOVET
Largest movements
- Receivables within one year -€66,516
down €66,516 (-42.0%), from €158,354 to €91,838
of which Trade receivables: -€34,112
- Current investments +€48,735
up €48,735 (+214%), from €22,799 to €71,533
- Financial fixed assets -€7,000
down €7,000 (-8.6%), from €80,954 to €73,954
- Tangible fixed assets -€3,714
down €3,714 (-77.9%), from €4,767 to €1,052
of which Furniture and vehicles: -€3,615
- Tax, wage and social debts -€26,076
down €26,076 (-94.1%), from €27,701 to €1,625
- Debts after one year -€3,222
no longer reported in 2025 (was €3,222)
- Current portion of long-term debt -€3,137
down €3,137 (-49.3%), from €6,359 to €3,222
- Depreciation -€4,791
down €4,791 (-52.0%), from €9,222 to €4,431
- Financial income +€4,423
up €4,423 (+204%), from €2,167 to €6,590
- Gross operating margin +€2,752
up €2,752 (+2.1%), from €129,201 to €131,953
- Taxes +€2,150
up €2,150 (+5.2%), from €41,480 to €43,630
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 | €306,286 | €276,074 | -€30,212 | -9.9% |
| Fixed assets | 21/28 | €85,721 | €75,007 | -€10,714 | -12.5% |
| Tangible fixed assets | 22/27 | €4,767 | €1,052 | -€3,714 | -77.9% |
| Plant, machinery and equipment | 23 | €299 | €200 | -€99 | -33.2% |
| Furniture and vehicles | 24 | €4,468 | €853 | -€3,615 | -80.9% |
| Financial fixed assets | 28 | €80,954 | €73,954 | -€7,000 | -8.6% |
| Current assets | 29/58 | €220,565 | €201,067 | -€19,498 | -8.8% |
| Amounts receivable after more than one year | 29 | €23,239 | €23,239 | = | 0.0% |
| Other amounts receivable | 291 | €23,239 | €23,239 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €158,354 | €91,838 | -€66,516 | -42.0% |
| Trade receivables | 40 | €93,700 | €59,588 | -€34,112 | -36.4% |
| Other amounts receivable | 41 | €64,654 | €32,250 | -€32,404 | -50.1% |
| Current investments | 50/53 | €22,799 | €71,533 | +€48,735 | +214% |
| Cash at bank and in hand | 54/58 | €16,173 | €14,457 | -€1,716 | -10.6% |
| Total equity and liabilities | 10/49 | €306,286 | €276,074 | -€30,212 | -9.9% |
| Equity | 10/15 | €266,051 | €266,269 | +€218 | +0.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €253,583 | €253,801 | +€218 | +0.1% |
| 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 | €251,723 | €251,941 | +€218 | +0.1% |
| Profit (loss) carried forward | 14 | €67 | €67 | = | 0.0% |
| Amounts payable | 17/49 | €40,235 | €9,805 | -€30,430 | -75.6% |
| Amounts payable after more than one year | 17 | €3,222 | - | -€3,222 | |
| Financial debts | 170/4 | €3,222 | - | -€3,222 | |
| Amounts payable within one year | 42/48 | €34,358 | €7,688 | -€26,670 | -77.6% |
| Current portion of amounts payable after more than one year | 42 | €6,359 | €3,222 | -€3,137 | -49.3% |
| Trade debts | 44 | €298 | €2,841 | +€2,543 | +854% |
| Suppliers | 440/4 | €298 | €2,841 | +€2,543 | +854% |
| Taxes, remuneration and social security | 45 | €27,701 | €1,625 | -€26,076 | -94.1% |
| Taxes | 450/3 | €27,701 | €1,625 | -€26,076 | -94.1% |
| Accrued charges and deferred income | 492/3 | €2,656 | €2,117 | -€539 | -20.3% |
| Non-recurring operating income | 76A | - | €10,500 | +€10,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,222 | €4,431 | -€4,791 | -52.0% |
| Other operating charges | 640/8 | €1,129 | €1,430 | +€300 | +26.6% |
| Gross operating margin | 9900 | €129,201 | €131,953 | +€2,752 | +2.1% |
| Operating profit (loss) | 9901 | €118,850 | €126,093 | +€7,243 | +6.1% |
| Financial income | 75/76B | €2,167 | €6,590 | +€4,423 | +204% |
| Recurring financial income | 75 | €2,167 | €6,590 | +€4,423 | +204% |
| Financial charges | 65/66B | €346 | €214 | -€131 | -38.0% |
| Recurring financial charges | 65 | €346 | €214 | -€131 | -38.0% |
| Profit (loss) for the period before taxes | 9903 | €120,671 | €132,468 | +€11,797 | +9.8% |
| Income taxes | 67/77 | €41,480 | €43,630 | +€2,150 | +5.2% |
| Profit (loss) for the period | 9904 | €79,191 | €88,839 | +€9,648 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €79,191 | €88,839 | +€9,648 | +12.2% |
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 28 October 2026 via checked.be.