KEY ENTERPRISE: 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.
KEY ENTERPRISE
Largest movements
- Tangible fixed assets -€15,864
down €15,864 (-22.7%), from €69,810 to €53,946
of which Furniture and vehicles: -€9,890
- Receivables within one year -€9,241
down €9,241 (-42.0%), from €21,999 to €12,759
of which Trade receivables: -€9,109
- Cash +€1,292
up €1,292 (+20.2%), from €6,393 to €7,685
mainly Depreciation (+€20,016) and Receivables within one year (+€9,241)
- Reserves -€11,947
down €11,947 (-28.8%), from €41,505 to €29,559
of which Distributable reserves: -€11,947
- Short-term financial debts -€8,250
down €8,250 (-32.0%), from €25,750 to €17,500
- Debts after one year -€3,596
down €3,596 (-100.0%), from €3,596 to €0
- Current portion of long-term debt -€3,531
down €3,531 (-49.5%), from €7,127 to €3,596
- Tax, wage and social debts +€2,154
up €2,154 (+78.3%), from €2,750 to €4,904
- Gross operating margin +€3,979
up €3,979 (+26.5%), from €15,028 to €19,008
- Other operating charges -€1,477
down €1,477 (-56.9%), from €2,598 to €1,121
- Depreciation -€1,045
down €1,045 (-5.0%), from €21,061 to €20,016
- Financial charges -€430
down €430 (-13.8%), from €3,117 to €2,686
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 | €99,900 | €76,307 | -€23,592 | -23.6% |
| Fixed assets | 21/28 | €70,181 | €54,317 | -€15,864 | -22.6% |
| Tangible fixed assets | 22/27 | €69,810 | €53,946 | -€15,864 | -22.7% |
| Land and buildings | 22 | €49,077 | €45,318 | -€3,759 | -7.7% |
| Plant, machinery and equipment | 23 | €2,827 | €1,509 | -€1,317 | -46.6% |
| Furniture and vehicles | 24 | €14,745 | €4,855 | -€9,890 | -67.1% |
| Other tangible fixed assets | 26 | €3,161 | €2,263 | -€897 | -28.4% |
| Financial fixed assets | 28 | €372 | €372 | = | 0.0% |
| Current assets | 29/58 | €29,718 | €21,990 | -€7,728 | -26.0% |
| Amounts receivable within one year | 40/41 | €21,999 | €12,759 | -€9,241 | -42.0% |
| Trade receivables | 40 | €18,776 | €9,668 | -€9,109 | -48.5% |
| Other amounts receivable | 41 | €3,223 | €3,091 | -€132 | -4.1% |
| Cash at bank and in hand | 54/58 | €6,393 | €7,685 | +€1,292 | +20.2% |
| Deferred charges and accrued income | 490/1 | €1,326 | €1,546 | +€220 | +16.6% |
| Total equity and liabilities | 10/49 | €99,900 | €76,307 | -€23,592 | -23.6% |
| Equity | 10/15 | €60,255 | €48,309 | -€11,947 | -19.8% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €41,505 | €29,559 | -€11,947 | -28.8% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,400 | €8,400 | = | 0.0% |
| Distributable reserves | 133 | €31,230 | €19,284 | -€11,947 | -38.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €39,645 | €27,999 | -€11,646 | -29.4% |
| Amounts payable after more than one year | 17 | €3,596 | €0 | -€3,596 | -100.0% |
| Financial debts | 170/4 | €3,596 | €0 | -€3,596 | -100.0% |
| Amounts payable within one year | 42/48 | €36,049 | €27,999 | -€8,050 | -22.3% |
| Current portion of amounts payable after more than one year | 42 | €7,127 | €3,596 | -€3,531 | -49.5% |
| Financial debts | 43 | €25,750 | €17,500 | -€8,250 | -32.0% |
| Credit institutions | 430/8 | €25,750 | €17,500 | -€8,250 | -32.0% |
| Trade debts | 44 | €422 | €2,000 | +€1,577 | +373.4% |
| Suppliers | 440/4 | €422 | €2,000 | +€1,577 | +373.4% |
| Taxes, remuneration and social security | 45 | €2,750 | €4,904 | +€2,154 | +78.3% |
| Taxes | 450/3 | €2,750 | €4,904 | +€2,154 | +78.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,061 | €20,016 | -€1,045 | -5.0% |
| Other operating charges | 640/8 | €2,598 | €1,121 | -€1,477 | -56.9% |
| Gross operating margin | 9900 | €15,028 | €19,008 | +€3,979 | +26.5% |
| Operating profit (loss) | 9901 | -€8,630 | -€2,129 | +€6,501 | +75.3% |
| Financial income | 75/76B | €6 | €1 | -€5 | -83.5% |
| Recurring financial income | 75 | €6 | €1 | -€5 | -83.5% |
| Financial charges | 65/66B | €3,117 | €2,686 | -€430 | -13.8% |
| Recurring financial charges | 65 | €3,117 | €2,686 | -€430 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | -€11,742 | -€4,815 | +€6,927 | +59.0% |
| Income taxes | 67/77 | €0 | €132 | +€132 | |
| Profit (loss) for the period | 9904 | -€11,742 | -€4,947 | +€6,795 | +57.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,742 | -€4,947 | +€6,795 | +57.9% |
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.