Keuko 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.
Keuko Construct
Largest movements
- Tangible fixed assets +€34,390
up €34,390 (+758.3%), from €4,535 to €38,925
of which Leasing and similar rights: +€34,475
- Receivables within one year +€8,339
up €8,339 (+46.6%), from €17,913 to €26,251
of which Other amounts receivable: +€5,426
- Debts after one year +€26,141
new in 2025: €26,141
- Trade debts +€7,079
up €7,079 (+86.3%), from €8,202 to €15,280
- Current portion of long-term debt +€5,648
new in 2025: €5,648
- Short-term financial debts +€2,491
up €2,491 (+167.3%), from €1,489 to €3,981
- Tax, wage and social debts +€1,651
up €1,651 (+90.7%), from €1,819 to €3,470
- Staff costs +€7,414
up €7,414 (+310.4%), from €2,389 to €9,802
- Depreciation +€1,098
up €1,098 (+30.6%), from €3,590 to €4,688
- Financial income +€582
up €582 (+82.2%), from €709 to €1,291
- Gross operating margin -€297
down €297 (-1.7%), from €17,331 to €17,034
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 | €38,762 | €81,881 | +€43,120 | +111.2% |
| Fixed assets | 21/28 | €6,475 | €40,865 | +€34,390 | +531.1% |
| Tangible fixed assets | 22/27 | €4,535 | €38,925 | +€34,390 | +758.3% |
| Plant, machinery and equipment | 23 | €2,919 | €3,008 | +€89 | +3.1% |
| Furniture and vehicles | 24 | €1,017 | €1,043 | +€26 | +2.6% |
| Leasing and similar rights | 25 | - | €34,475 | +€34,475 | |
| Other tangible fixed assets | 26 | €600 | €400 | -€200 | -33.3% |
| Financial fixed assets | 28 | €1,940 | €1,940 | = | 0.0% |
| Current assets | 29/58 | €32,287 | €41,017 | +€8,730 | +27.0% |
| Stocks and contracts in progress | 3 | €13,917 | €14,252 | +€335 | +2.4% |
| Stocks | 30/36 | €9,523 | €10,542 | +€1,019 | +10.7% |
| Contracts in progress | 37 | €4,394 | €3,710 | -€684 | -15.6% |
| Amounts receivable within one year | 40/41 | €17,913 | €26,251 | +€8,339 | +46.6% |
| Trade receivables | 40 | €6,476 | €9,389 | +€2,913 | +45.0% |
| Other amounts receivable | 41 | €11,436 | €16,862 | +€5,426 | +47.4% |
| Cash at bank and in hand | 54/58 | €231 | €336 | +€105 | +45.5% |
| Deferred charges and accrued income | 490/1 | €226 | €177 | -€49 | -21.7% |
| Total equity and liabilities | 10/49 | €38,762 | €81,881 | +€43,120 | +111.2% |
| Equity | 10/15 | €26,533 | €26,848 | +€315 | +1.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €20,333 | €20,648 | +€315 | +1.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €377 | €377 | = | 0.0% |
| Distributable reserves | 133 | €18,097 | €18,411 | +€315 | +1.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €12,228 | €55,033 | +€42,805 | +350.0% |
| Amounts payable after more than one year | 17 | - | €26,141 | +€26,141 | |
| Financial debts | 170/4 | - | €26,141 | +€26,141 | |
| Amounts payable within one year | 42/48 | €11,610 | €28,393 | +€16,783 | +144.6% |
| Current portion of amounts payable after more than one year | 42 | - | €5,648 | +€5,648 | |
| Financial debts | 43 | €1,489 | €3,981 | +€2,491 | +167.3% |
| Credit institutions | 430/8 | €1,489 | €3,981 | +€2,491 | +167.3% |
| Trade debts | 44 | €8,202 | €15,280 | +€7,079 | +86.3% |
| Suppliers | 440/4 | €8,202 | €15,280 | +€7,079 | +86.3% |
| Advances received on contracts in progress | 46 | €99 | €14 | -€85 | -85.9% |
| Taxes, remuneration and social security | 45 | €1,819 | €3,470 | +€1,651 | +90.7% |
| Taxes | 450/3 | €1,819 | €3,470 | +€1,651 | +90.7% |
| Accrued charges and deferred income | 492/3 | €619 | €499 | -€119 | -19.3% |
| Non-recurring operating income | 76A | - | €785 | +€785 | |
| Remuneration, social security and pensions | 62 | €2,389 | €9,802 | +€7,414 | +310.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,590 | €4,688 | +€1,098 | +30.6% |
| Other operating charges | 640/8 | €1,410 | €1,443 | +€33 | +2.3% |
| Gross operating margin | 9900 | €17,331 | €17,034 | -€297 | -1.7% |
| Operating profit (loss) | 9901 | €9,942 | €1,101 | -€8,841 | -88.9% |
| Financial income | 75/76B | €709 | €1,291 | +€582 | +82.2% |
| Recurring financial income | 75 | €709 | €1,291 | +€582 | +82.2% |
| Financial charges | 65/66B | €1,513 | €1,659 | +€146 | +9.7% |
| Recurring financial charges | 65 | €1,513 | €1,659 | +€146 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €9,138 | €732 | -€8,406 | -92.0% |
| Income taxes | 67/77 | €309 | €418 | +€108 | +35.0% |
| Profit (loss) for the period | 9904 | €8,829 | €315 | -€8,514 | -96.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,829 | €315 | -€8,514 | -96.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.