KEUBA: 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.
KEUBA
Largest movements
- Tangible fixed assets -€41,176
down €41,176 (-38.7%), from €106,344 to €65,167
of which Furniture and vehicles: -€40,456
- Receivables within one year -€20,448
down €20,448 (-83.9%), from €24,376 to €3,928
of which Trade receivables: -€15,009
- Cash -€2,273
down €2,273 (-30.1%), from €7,544 to €5,271
mainly Current portion of long-term debt (-€24,747) and Net result for the year (-€24,298)
- Current portion of long-term debt -€24,747
down €24,747 (-100.0%), from €24,747 to €0
- Profit (loss) carried forward -€24,298
down €24,298 (-59.0%), from -€41,182 to -€65,480
- Tax, wage and social debts -€5,858
down €5,858 (-31.9%), from €18,339 to €12,480
of which Remuneration and social security: -€6,159
- Other debts -€3,172
down €3,172 (-14.6%), from €21,775 to €18,603
- Trade debts -€3,143
down €3,143 (-30.5%), from €10,313 to €7,169
- Gross operating margin -€22,557
down €22,557 (-23.0%), from €97,923 to €75,366
- Staff costs +€5,635
up €5,635 (+11.2%), from €50,484 to €56,119
- Depreciation +€1,355
up €1,355 (+3.4%), from €39,821 to €41,176
- Financial charges -€1,070
down €1,070 (-66.1%), from €1,618 to €548
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 | €143,018 | €78,901 | -€64,117 | -44.8% |
| Fixed assets | 21/28 | €107,356 | €66,180 | -€41,176 | -38.4% |
| Tangible fixed assets | 22/27 | €106,344 | €65,167 | -€41,176 | -38.7% |
| Land and buildings | 22 | €3,598 | €2,878 | -€720 | -20.0% |
| Furniture and vehicles | 24 | €102,746 | €62,289 | -€40,456 | -39.4% |
| Financial fixed assets | 28 | €1,012 | €1,012 | = | 0.0% |
| Current assets | 29/58 | €35,662 | €12,721 | -€22,941 | -64.3% |
| Stocks and contracts in progress | 3 | €291 | €291 | = | 0.0% |
| Stocks | 30/36 | €291 | €291 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €24,376 | €3,928 | -€20,448 | -83.9% |
| Trade receivables | 40 | €16,766 | €1,756 | -€15,009 | -89.5% |
| Other amounts receivable | 41 | €7,611 | €2,172 | -€5,439 | -71.5% |
| Current investments | 50/53 | €9 | €0 | -€9 | -100.0% |
| Cash at bank and in hand | 54/58 | €7,544 | €5,271 | -€2,273 | -30.1% |
| Deferred charges and accrued income | 490/1 | €3,441 | €3,231 | -€210 | -6.1% |
| Total equity and liabilities | 10/49 | €143,018 | €78,901 | -€64,117 | -44.8% |
| Equity | 10/15 | €6,216 | -€18,082 | -€24,298 | |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €7,398 | €7,398 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,398 | €7,398 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,182 | -€65,480 | -€24,298 | -59.0% |
| Amounts payable | 17/49 | €136,801 | €96,983 | -€39,819 | -29.1% |
| Amounts payable after more than one year | 17 | €61,000 | €58,500 | -€2,500 | -4.1% |
| Financial debts | 170/4 | €61,000 | €58,500 | -€2,500 | -4.1% |
| Amounts payable within one year | 42/48 | €75,801 | €38,483 | -€37,319 | -49.2% |
| Current portion of amounts payable after more than one year | 42 | €24,747 | €0 | -€24,747 | -100.0% |
| Financial debts | 43 | €628 | €230 | -€398 | -63.3% |
| Credit institutions | 430/8 | €628 | €230 | -€398 | -63.3% |
| Trade debts | 44 | €10,313 | €7,169 | -€3,143 | -30.5% |
| Suppliers | 440/4 | €10,313 | €7,169 | -€3,143 | -30.5% |
| Taxes, remuneration and social security | 45 | €18,339 | €12,480 | -€5,858 | -31.9% |
| Taxes | 450/3 | €865 | €1,166 | +€300 | +34.7% |
| Remuneration and social security | 454/9 | €17,473 | €11,315 | -€6,159 | -35.2% |
| Other amounts payable | 47/48 | €21,775 | €18,603 | -€3,172 | -14.6% |
| Non-recurring operating income | 76A | €6,500 | €0 | -€6,500 | -100.0% |
| Remuneration, social security and pensions | 62 | €50,484 | €56,119 | +€5,635 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,821 | €41,176 | +€1,355 | +3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €408 | €0 | -€408 | -100.0% |
| Other operating charges | 640/8 | €1,996 | €1,346 | -€649 | -32.5% |
| Gross operating margin | 9900 | €97,923 | €75,366 | -€22,557 | -23.0% |
| Operating profit (loss) | 9901 | €5,214 | -€23,276 | -€28,490 | |
| Financial income | 75/76B | €0 | €22 | +€22 | |
| Recurring financial income | 75 | €0 | €22 | +€22 | |
| Financial charges | 65/66B | €1,618 | €548 | -€1,070 | -66.1% |
| Recurring financial charges | 65 | €1,618 | €548 | -€1,070 | -66.1% |
| Profit (loss) for the period before taxes | 9903 | €3,596 | -€23,801 | -€27,398 | |
| Income taxes | 67/77 | €1,361 | €497 | -€864 | -63.5% |
| Profit (loss) for the period | 9904 | €2,235 | -€24,298 | -€26,533 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,235 | -€24,298 | -€26,533 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.