Keurpunt: 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.
Keurpunt
Largest movements
- Receivables within one year +€260,924
up €260,924 (+46.7%), from €559,284 to €820,207
of which Trade receivables: +€278,565
- Receivables after one year +€44,500
up €44,500, from €0 to €44,500
- Tangible fixed assets -€19,380
down €19,380 (-2.5%), from €766,141 to €746,761
of which Land and buildings: -€15,821
- Debts after one year +€513,940
new in 2025: €513,940
- Other debts -€500,000
down €500,000 (-100%), from €500,000 to €0
- Current portion of long-term debt +€226,739
up €226,739 (+11,626%), from €1,950 to €228,689
- Profit (loss) carried forward +€67,250
up €67,250, from -€67,250 to €0
- Tax, wage and social debts -€19,440
down €19,440 (-94.9%), from €20,477 to €1,038
- Gross operating margin +€975,244
up €975,244, from -€59,060 to €916,184
- Staff costs +€721,402
up €721,402 (+12,738%), from €5,663 to €727,065
- Depreciation +€87,009
up €87,009 (+1,809%), from €4,809 to €91,819
- Financial charges +€19,592
up €19,592 (+6,613%), from €296 to €19,888
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 | €1,344,067 | €1,625,964 | +€281,897 | +21.0% |
| Fixed assets | 21/28 | €776,641 | €757,261 | -€19,380 | -2.5% |
| Tangible fixed assets | 22/27 | €766,141 | €746,761 | -€19,380 | -2.5% |
| Land and buildings | 22 | €581,045 | €565,224 | -€15,821 | -2.7% |
| Plant, machinery and equipment | 23 | €184,576 | €178,727 | -€5,849 | -3.2% |
| Furniture and vehicles | 24 | €472 | €2,810 | +€2,338 | +495% |
| Other tangible fixed assets | 26 | €48 | €0 | -€48 | -100% |
| Financial fixed assets | 28 | €10,500 | €10,500 | = | 0.0% |
| Current assets | 29/58 | €567,426 | €868,703 | +€301,277 | +53.1% |
| Amounts receivable after more than one year | 29 | €0 | €44,500 | +€44,500 | |
| Other amounts receivable | 291 | €0 | €44,500 | +€44,500 | |
| Amounts receivable within one year | 40/41 | €559,284 | €820,207 | +€260,924 | +46.7% |
| Trade receivables | 40 | €443,231 | €721,796 | +€278,565 | +62.8% |
| Other amounts receivable | 41 | €116,053 | €98,411 | -€17,642 | -15.2% |
| Cash at bank and in hand | 54/58 | €8,142 | €3,360 | -€4,782 | -58.7% |
| Deferred charges and accrued income | 490/1 | - | €635 | +€635 | |
| Total equity and liabilities | 10/49 | €1,344,067 | €1,625,964 | +€281,897 | +21.0% |
| Equity | 10/15 | €52,288 | €127,686 | +€75,398 | +144% |
| Contributions | 10/11 | €15,200 | €15,200 | = | 0.0% |
| Reserves | 13 | €104,338 | €112,486 | +€8,148 | +7.8% |
| 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 | €102,478 | €110,626 | +€8,148 | +8.0% |
| Profit (loss) carried forward | 14 | -€67,250 | €0 | +€67,250 | |
| Amounts payable | 17/49 | €1,291,779 | €1,498,278 | +€206,499 | +16.0% |
| Amounts payable after more than one year | 17 | - | €513,940 | +€513,940 | |
| Financial debts | 170/4 | - | €513,940 | +€513,940 | |
| Amounts payable within one year | 42/48 | €1,272,579 | €974,722 | -€297,857 | -23.4% |
| Current portion of amounts payable after more than one year | 42 | €1,950 | €228,689 | +€226,739 | +11,626% |
| Trade debts | 44 | €750,152 | €744,995 | -€5,156 | -0.7% |
| Suppliers | 440/4 | €750,152 | €744,995 | -€5,156 | -0.7% |
| Taxes, remuneration and social security | 45 | €20,477 | €1,038 | -€19,440 | -94.9% |
| Taxes | 450/3 | €20,477 | €1,038 | -€19,440 | -94.9% |
| Other amounts payable | 47/48 | €500,000 | €0 | -€500,000 | -100% |
| Accrued charges and deferred income | 492/3 | €19,200 | €9,616 | -€9,584 | -49.9% |
| Non-recurring operating income | 76A | €131 | €0 | -€131 | -100% |
| Remuneration, social security and pensions | 62 | €5,663 | €727,065 | +€721,402 | +12,738% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,809 | €91,819 | +€87,009 | +1,809% |
| Other operating charges | 640/8 | €1,484 | €2,278 | +€794 | +53.5% |
| Gross operating margin | 9900 | -€59,060 | €916,184 | +€975,244 | |
| Operating profit (loss) | 9901 | -€71,016 | €95,022 | +€166,038 | |
| Financial income | 75/76B | €4,222 | €1,142 | -€3,080 | -73.0% |
| Recurring financial income | 75 | €4,222 | €1,142 | -€3,080 | -73.0% |
| Financial charges | 65/66B | €296 | €19,888 | +€19,592 | +6,613% |
| Recurring financial charges | 65 | €296 | €19,888 | +€19,592 | +6,613% |
| Profit (loss) for the period before taxes | 9903 | -€67,090 | €76,275 | +€143,365 | |
| Income taxes | 67/77 | €160 | €878 | +€718 | +448% |
| Profit (loss) for the period | 9904 | -€67,250 | €75,398 | +€142,648 | |
| Profit (loss) for the period to be appropriated | 9905 | -€67,250 | €75,398 | +€142,648 |
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 19 October 2026 via checked.be.