KEY ST8: 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 ST8
Largest movements
- Cash +€67,456
up €67,456 (+136.1%), from €49,577 to €117,033
mainly Net result for the year (+€108,302) and Tax, wage and social debts (+€4,746)
- Receivables after one year +€30,000
new in 2025: €30,000
- Tangible fixed assets +€5,945
new in 2025: €5,945
- Reserves +€108,302
up €108,302 (+384.6%), from €28,159 to €136,461
- Other debts -€4,829
down €4,829 (-100.0%), from €4,829 to €0
- Tax, wage and social debts +€4,746
up €4,746 (+21.4%), from €22,147 to €26,894
of which Taxes: +€7,746
- Trade debts -€2,840
down €2,840 (-28.2%), from €10,075 to €7,236
- Gross operating margin +€102,018
up €102,018 (+265.5%), from €38,431 to €140,449
- Taxes +€22,811
up €22,811 (+300.1%), from €7,600 to €30,411
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 | €68,211 | €173,590 | +€105,380 | +154.5% |
| Formation expenses | 20 | €483 | €0 | -€483 | -100.0% |
| Fixed assets | 21/28 | - | €5,945 | +€5,945 | |
| Tangible fixed assets | 22/27 | - | €5,945 | +€5,945 | |
| Land and buildings | 22 | - | €5,945 | +€5,945 | |
| Current assets | 29/58 | €67,727 | €167,645 | +€99,918 | +147.5% |
| Amounts receivable after more than one year | 29 | - | €30,000 | +€30,000 | |
| Other amounts receivable | 291 | - | €30,000 | +€30,000 | |
| Amounts receivable within one year | 40/41 | €18,150 | €19,663 | +€1,513 | +8.3% |
| Trade receivables | 40 | €18,150 | €19,663 | +€1,513 | +8.3% |
| Cash at bank and in hand | 54/58 | €49,577 | €117,033 | +€67,456 | +136.1% |
| Deferred charges and accrued income | 490/1 | - | €949 | +€949 | |
| Total equity and liabilities | 10/49 | €68,211 | €173,590 | +€105,380 | +154.5% |
| Equity | 10/15 | €31,159 | €139,461 | +€108,302 | +347.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €28,159 | €136,461 | +€108,302 | +384.6% |
| Distributable reserves | 133 | €28,159 | €136,461 | +€108,302 | +384.6% |
| Amounts payable | 17/49 | €37,051 | €34,129 | -€2,922 | -7.9% |
| Amounts payable within one year | 42/48 | €37,051 | €34,129 | -€2,922 | -7.9% |
| Trade debts | 44 | €10,075 | €7,236 | -€2,840 | -28.2% |
| Suppliers | 440/4 | €10,075 | €7,236 | -€2,840 | -28.2% |
| Taxes, remuneration and social security | 45 | €22,147 | €26,894 | +€4,746 | +21.4% |
| Taxes | 450/3 | €19,147 | €26,894 | +€7,746 | +40.5% |
| Remuneration and social security | 454/9 | €3,000 | €0 | -€3,000 | -100.0% |
| Other amounts payable | 47/48 | €4,829 | €0 | -€4,829 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €525 | €538 | +€13 | +2.5% |
| Other operating charges | 640/8 | €2,002 | €1,569 | -€433 | -21.6% |
| Gross operating margin | 9900 | €38,431 | €140,449 | +€102,018 | +265.5% |
| Operating profit (loss) | 9901 | €35,904 | €138,342 | +€102,437 | +285.3% |
| Financial income | 75/76B | - | €450 | +€450 | |
| Recurring financial income | 75 | - | €450 | +€450 | |
| Financial charges | 65/66B | €145 | €79 | -€66 | -45.7% |
| Recurring financial charges | 65 | €145 | €79 | -€66 | -45.7% |
| Profit (loss) for the period before taxes | 9903 | €35,759 | €138,713 | +€102,954 | +287.9% |
| Income taxes | 67/77 | €7,600 | €30,411 | +€22,811 | +300.1% |
| Profit (loss) for the period | 9904 | €28,159 | €108,302 | +€80,142 | +284.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,159 | €108,302 | +€80,142 | +284.6% |
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 8 October 2026 via checked.be.