KEULEN MAINTENANCE: 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.
KEULEN MAINTENANCE
Largest movements
- Receivables within one year +€295,291
up €295,291 (+258%), from €114,626 to €409,917
- Cash -€139,327
down €139,327 (-41.8%), from €333,058 to €193,731
mainly Receivables within one year (-€295,291) and Investment in fixed assets (net) (-€91,124)
- Tangible fixed assets -€67,237
down €67,237 (-14.4%), from €468,367 to €401,129
of which Furniture and vehicles: -€66,342
- Profit (loss) carried forward +€61,127
up €61,127 (+39.9%), from €153,059 to €214,187
- Trade debts +€28,291
up €28,291 (+25.0%), from €112,983 to €141,273
- Staff costs +€468,905
up €468,905 (+26.4%), from €1.8m to €2.2m
- Gross operating margin +€447,639
up €447,639 (+21.3%), from €2.1m to €2.6m
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 | €920,678 | €1,009,177 | +€88,499 | +9.6% |
| Fixed assets | 21/28 | €472,767 | €405,529 | -€67,237 | -14.2% |
| Tangible fixed assets | 22/27 | €468,367 | €401,129 | -€67,237 | -14.4% |
| Land and buildings | 22 | €896 | - | -€896 | |
| Furniture and vehicles | 24 | €467,471 | €401,129 | -€66,342 | -14.2% |
| Financial fixed assets | 28 | €4,400 | €4,400 | = | 0.0% |
| Current assets | 29/58 | €447,911 | €603,648 | +€155,736 | +34.8% |
| Amounts receivable within one year | 40/41 | €114,626 | €409,917 | +€295,291 | +258% |
| Trade receivables | 40 | €114,626 | €409,917 | +€295,291 | +258% |
| Cash at bank and in hand | 54/58 | €333,058 | €193,731 | -€139,327 | -41.8% |
| Deferred charges and accrued income | 490/1 | €228 | - | -€228 | |
| Total equity and liabilities | 10/49 | €920,678 | €1,009,177 | +€88,499 | +9.6% |
| Equity | 10/15 | €203,059 | €264,187 | +€61,127 | +30.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €153,059 | €214,187 | +€61,127 | +39.9% |
| Amounts payable | 17/49 | €717,619 | €744,990 | +€27,371 | +3.8% |
| Amounts payable within one year | 42/48 | €717,619 | €744,990 | +€27,371 | +3.8% |
| Trade debts | 44 | €112,983 | €141,273 | +€28,291 | +25.0% |
| Suppliers | 440/4 | €112,983 | €141,273 | +€28,291 | +25.0% |
| Advances received on contracts in progress | 46 | €276,000 | €276,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €302,579 | €307,341 | +€4,762 | +1.6% |
| Taxes | 450/3 | €116,838 | €62,235 | -€54,603 | -46.7% |
| Remuneration and social security | 454/9 | €185,741 | €245,106 | +€59,365 | +32.0% |
| Other amounts payable | 47/48 | €26,057 | €20,376 | -€5,681 | -21.8% |
| Remuneration, social security and pensions | 62 | €1,779,150 | €2,248,054 | +€468,905 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146,545 | €158,362 | +€11,816 | +8.1% |
| Other operating charges | 640/8 | €4,444 | €5,183 | +€738 | +16.6% |
| Non-recurring operating charges | 66A | €1,995 | €5,447 | +€3,451 | +173% |
| Gross operating margin | 9900 | €2,102,882 | €2,550,521 | +€447,639 | +21.3% |
| Operating profit (loss) | 9901 | €170,747 | €133,476 | -€37,271 | -21.8% |
| Financial income | 75/76B | - | €456 | +€456 | |
| Recurring financial income | 75 | - | €456 | +€456 | |
| Financial charges | 65/66B | €49 | €40 | -€9 | -17.4% |
| Recurring financial charges | 65 | €49 | €40 | -€9 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €170,698 | €133,892 | -€36,807 | -21.6% |
| Income taxes | 67/77 | €67,658 | €52,389 | -€15,270 | -22.6% |
| Profit (loss) for the period | 9904 | €103,040 | €81,503 | -€21,537 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €103,040 | €81,503 | -€21,537 | -20.9% |
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 25 October 2026 via checked.be.