KevEC: 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.
KevEC
Largest movements
- Cash +€17,776
up €17,776 (+22.7%), from €78,370 to €96,146
mainly Net result for the year (+€55,359) and Other debts (+€22,050)
- Receivables within one year +€1,395
up €1,395 (+13.9%), from €10,068 to €11,463
- Other debts +€22,050
up €22,050 (+51.2%), from €43,062 to €65,112
- Reserves -€17,465
down €17,465 (-96.8%), from €18,042 to €577
- Tax, wage and social debts +€14,718
up €14,718 (+117.5%), from €12,530 to €27,247
of which Taxes: +€12,718
- Gross operating margin -€4,268
down €4,268 (-5.6%), from €76,490 to €72,222
- Taxes -€1,789
down €1,789 (-11.3%), from €15,789 to €14,000
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 | €92,703 | €112,266 | +€19,564 | +21.1% |
| Fixed assets | 21/28 | €4,264 | €4,658 | +€393 | +9.2% |
| Tangible fixed assets | 22/27 | €4,264 | €4,658 | +€393 | +9.2% |
| Plant, machinery and equipment | 23 | €810 | €2,172 | +€1,362 | +168.1% |
| Furniture and vehicles | 24 | €3,454 | €2,486 | -€968 | -28.0% |
| Current assets | 29/58 | €88,438 | €107,608 | +€19,170 | +21.7% |
| Amounts receivable within one year | 40/41 | €10,068 | €11,463 | +€1,395 | +13.9% |
| Trade receivables | 40 | €10,068 | €11,463 | +€1,395 | +13.9% |
| Cash at bank and in hand | 54/58 | €78,370 | €96,146 | +€17,776 | +22.7% |
| Total equity and liabilities | 10/49 | €92,703 | €112,266 | +€19,564 | +21.1% |
| Equity | 10/15 | €36,642 | €19,000 | -€17,641 | -48.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,042 | €577 | -€17,465 | -96.8% |
| Distributable reserves | 133 | €18,042 | €577 | -€17,465 | -96.8% |
| Profit (loss) carried forward | 14 | €0 | -€176 | -€176 | |
| Amounts payable | 17/49 | €56,061 | €93,266 | +€37,205 | +66.4% |
| Amounts payable within one year | 42/48 | €56,061 | €93,266 | +€37,205 | +66.4% |
| Trade debts | 44 | €469 | €907 | +€437 | +93.2% |
| Suppliers | 440/4 | €469 | €907 | +€437 | +93.2% |
| Taxes, remuneration and social security | 45 | €12,530 | €27,247 | +€14,718 | +117.5% |
| Taxes | 450/3 | €10,530 | €23,247 | +€12,718 | +120.8% |
| Remuneration and social security | 454/9 | €2,000 | €4,000 | +€2,000 | +100.0% |
| Other amounts payable | 47/48 | €43,062 | €65,112 | +€22,050 | +51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,584 | €1,706 | +€122 | +7.7% |
| Other operating charges | 640/8 | €1,001 | €979 | -€22 | -2.2% |
| Gross operating margin | 9900 | €76,490 | €72,222 | -€4,268 | -5.6% |
| Operating profit (loss) | 9901 | €73,906 | €69,538 | -€4,368 | -5.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €75 | €179 | +€104 | +139.3% |
| Recurring financial charges | 65 | €75 | €179 | +€104 | +139.3% |
| Profit (loss) for the period before taxes | 9903 | €73,831 | €69,359 | -€4,472 | -6.1% |
| Income taxes | 67/77 | €15,789 | €14,000 | -€1,789 | -11.3% |
| Profit (loss) for the period | 9904 | €58,042 | €55,359 | -€2,683 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €58,042 | €55,359 | -€2,683 | -4.6% |
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 4 October 2026 via checked.be.