KETS 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.
KETS CONSTRUCT
Largest movements
- Cash -€10,154
down €10,154 (-17.2%), from €58,969 to €48,815
mainly Debts after one year (-€9,187) and Net result for the year (-€8,088)
- Tangible fixed assets -€9,824
down €9,824 (-40.9%), from €24,002 to €14,178
of which Plant, machinery and equipment: -€7,959
- Receivables within one year -€6,458
down €6,458 (-19.0%), from €33,961 to €27,503
of which Trade receivables: -€6,329
- Deferred charges and accrued income +€1,577
up €1,577 (+99.7%), from €1,581 to €3,158
- Debts after one year -€9,187
down €9,187 (-26.7%), from €34,440 to €25,253
- Reserves -€8,088
down €8,088 (-20.8%), from €38,837 to €30,749
- Current portion of long-term debt -€5,996
down €5,996 (-39.5%), from €15,183 to €9,187
- Trade debts -€3,496
down €3,496 (-15.4%), from €22,626 to €19,131
- Tax, wage and social debts +€2,290
up €2,290 (+135.3%), from €1,692 to €3,982
of which Remuneration and social security: +€2,262
- Gross operating margin -€42,064
down €42,064 (-29.2%), from €144,046 to €101,981
- Staff costs -€26,288
down €26,288 (-21.3%), from €123,446 to €97,158
- Taxes -€1,665
down €1,665 (-98.4%), from €1,692 to €27
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 | €118,849 | €93,990 | -€24,859 | -20.9% |
| Fixed assets | 21/28 | €24,338 | €14,514 | -€9,824 | -40.4% |
| Tangible fixed assets | 22/27 | €24,002 | €14,178 | -€9,824 | -40.9% |
| Plant, machinery and equipment | 23 | €20,949 | €12,990 | -€7,959 | -38.0% |
| Furniture and vehicles | 24 | €3,053 | €1,188 | -€1,865 | -61.1% |
| Financial fixed assets | 28 | €336 | €336 | = | 0.0% |
| Current assets | 29/58 | €94,511 | €79,476 | -€15,035 | -15.9% |
| Amounts receivable within one year | 40/41 | €33,961 | €27,503 | -€6,458 | -19.0% |
| Trade receivables | 40 | €31,463 | €25,134 | -€6,329 | -20.1% |
| Other amounts receivable | 41 | €2,498 | €2,369 | -€129 | -5.2% |
| Cash at bank and in hand | 54/58 | €58,969 | €48,815 | -€10,154 | -17.2% |
| Deferred charges and accrued income | 490/1 | €1,581 | €3,158 | +€1,577 | +99.7% |
| Total equity and liabilities | 10/49 | €118,849 | €93,990 | -€24,859 | -20.9% |
| Equity | 10/15 | €43,837 | €35,749 | -€8,088 | -18.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €38,837 | €30,749 | -€8,088 | -20.8% |
| Distributable reserves | 133 | €38,837 | €30,749 | -€8,088 | -20.8% |
| Amounts payable | 17/49 | €75,012 | €58,241 | -€16,771 | -22.4% |
| Amounts payable after more than one year | 17 | €34,440 | €25,253 | -€9,187 | -26.7% |
| Financial debts | 170/4 | €34,440 | €25,253 | -€9,187 | -26.7% |
| Amounts payable within one year | 42/48 | €40,572 | €32,988 | -€7,584 | -18.7% |
| Current portion of amounts payable after more than one year | 42 | €15,183 | €9,187 | -€5,996 | -39.5% |
| Trade debts | 44 | €22,626 | €19,131 | -€3,496 | -15.4% |
| Suppliers | 440/4 | €22,626 | €19,131 | -€3,496 | -15.4% |
| Taxes, remuneration and social security | 45 | €1,692 | €3,982 | +€2,290 | +135.3% |
| Taxes | 450/3 | €1,692 | €1,719 | +€27 | +1.6% |
| Remuneration and social security | 454/9 | - | €2,262 | +€2,262 | |
| Other amounts payable | 47/48 | €1,071 | €689 | -€382 | -35.7% |
| Remuneration, social security and pensions | 62 | €123,446 | €97,158 | -€26,288 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,637 | €9,824 | -€813 | -7.6% |
| Other operating charges | 640/8 | €1,001 | €893 | -€107 | -10.7% |
| Gross operating margin | 9900 | €144,046 | €101,981 | -€42,064 | -29.2% |
| Operating profit (loss) | 9901 | €8,963 | -€5,894 | -€14,856 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,996 | €2,167 | -€828 | -27.7% |
| Recurring financial charges | 65 | €2,996 | €2,167 | -€828 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €5,967 | -€8,061 | -€14,028 | |
| Income taxes | 67/77 | €1,692 | €27 | -€1,665 | -98.4% |
| Profit (loss) for the period | 9904 | €4,275 | -€8,088 | -€12,363 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,275 | -€8,088 | -€12,363 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.