Key-Master: 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-Master
Largest movements
- Cash +€3,090
up €3,090 (+217.6%), from €1,420 to €4,510
mainly Receivables within one year (+€2,225) and Trade debts (+€597)
- Receivables within one year -€2,225
down €2,225 (-71.5%), from €3,109 to €885
of which Other amounts receivable: -€2,633
- Intangible fixed assets -€180
down €180 (-25.7%), from €700 to €520
- Deferred charges and accrued income +€77
up €77, from €0 to €77
- Trade debts +€597
up €597 (+119.5%), from €499 to €1,096
- Profit (loss) carried forward +€387
up €387 (+4.3%), from -€8,991 to -€8,604
- Accrued charges and deferred income -€221
down €221 (-100.0%), from €221 to €0
- Gross operating margin +€2,118
up €2,118, from -€1,106 to €1,012
- Financial income -€43
down €43 (-100.0%), from €43 to €0
- Other operating charges +€12
up €12 (+3.2%), from €387 to €400
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 | €5,229 | €5,992 | +€763 | +14.6% |
| Fixed assets | 21/28 | €700 | €520 | -€180 | -25.7% |
| Intangible fixed assets | 21 | €700 | €520 | -€180 | -25.7% |
| Current assets | 29/58 | €4,529 | €5,472 | +€943 | +20.8% |
| Amounts receivable within one year | 40/41 | €3,109 | €885 | -€2,225 | -71.5% |
| Trade receivables | 40 | €23 | €431 | +€409 | +1806.9% |
| Other amounts receivable | 41 | €3,086 | €453 | -€2,633 | -85.3% |
| Cash at bank and in hand | 54/58 | €1,420 | €4,510 | +€3,090 | +217.6% |
| Deferred charges and accrued income | 490/1 | €0 | €77 | +€77 | |
| Total equity and liabilities | 10/49 | €5,229 | €5,992 | +€763 | +14.6% |
| Equity | 10/15 | -€5,991 | -€5,604 | +€387 | +6.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,991 | -€8,604 | +€387 | +4.3% |
| Amounts payable | 17/49 | €11,221 | €11,596 | +€376 | +3.3% |
| Amounts payable within one year | 42/48 | €10,999 | €11,596 | +€597 | +5.4% |
| Trade debts | 44 | €499 | €1,096 | +€597 | +119.5% |
| Suppliers | 440/4 | €499 | €1,096 | +€597 | +119.5% |
| Other amounts payable | 47/48 | €10,500 | €10,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €221 | €0 | -€221 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180 | €180 | -€1 | -0.3% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€1,106 | €1,012 | +€2,118 | |
| Operating profit (loss) | 9901 | -€1,673 | €432 | +€2,106 | |
| Financial income | 75/76B | €43 | €0 | -€43 | -100.0% |
| Recurring financial income | 75 | €43 | €0 | -€43 | -100.0% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,676 | €387 | +€2,063 | |
| Profit (loss) for the period | 9904 | -€1,676 | €387 | +€2,063 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,676 | €387 | +€2,063 |
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 28 September 2026 via checked.be.