KEY-TEC: 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.
What changed
KEY-TEC
NACE 46.610, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.3m
2024 · €2.6m-€1.2m
Equity
€8.0m
2024 · €8.0m
Cash
€1.5m
2024 · €715,784+€748,403
Balance sheet total
€26.2m
2024 · €31.6m-€5.4m
Largest movements
Assets
- Stocks and contracts -€4.4m
down €4.4m (-21.9%), from €20.2m to €15.8m
- Receivables within one year -€2.1m
down €2.1m (-30.5%), from €6.8m to €4.7m
of which Trade receivables: -€1.6m
- Cash +€748,403
up €748,403 (+104.6%), from €715,784 to €1.5m
mainly Stocks and contracts (+€4.4m) and Receivables within one year (+€2.1m)
- Tangible fixed assets +€365,040
up €365,040 (+13.3%), from €2.7m to €3.1m
of which Furniture and vehicles: +€222,948
Equity and liabilities
- Short-term financial debts -€3.4m
down €3.4m (-26.4%), from €12.8m to €9.4m
- Trade debts -€3.3m
down €3.3m (-45.3%), from €7.3m to €4.0m
- Other debts +€1.3m
up €1.3m, from €0 to €1.3m
- Debts after one year -€388,194
down €388,194 (-16.2%), from €2.4m to €2.0m
Income statement
- Turnover -€4.2m
down €4.2m (-7.4%), from €57.0m to €52.8m
- Goods and materials -€3.4m
down €3.4m (-7.1%), from €48.0m to €44.6m
of which Purchases: -€16.3m
- Services and other goods +€810,147
up €810,147 (+39.8%), from €2.0m to €2.8m
- Other operating income +€712,568
up €712,568 (+36.9%), from €1.9m to €2.6m
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.
Result 2024
€2.6m
Turnover
-€4.2m
Other operating income
+€712,568
Goods and materials
+€3.4m
Services and other goods
-€810,147
Staff costs
-€320,010
Depreciation
+€196,252
Write-downs
-€263,105
Other operating charges
-€165,239
Other operating items
-€74,626
Financial income
-€7,708
Financial charges
-€136,609
Taxes
+€390,471
Result 2025
€1.3m
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.
From operations
+€7.1m
Investment
-€1.2m
Financing
-€5.1m
Cash 2024
€715,784
From operations (derived)
+€7.1m
Net result for the year
+€1.3m
Depreciation
+€799,875
Receivables after one year
+€138,000
Stocks and contracts
+€4.4m
Receivables within one year
+€2.1m
Deferred charges and accrued income
-€35,236
Trade debts
-€3.3m
Tax, wage and social debts
+€223,269
Other debts
+€1.3m
Accrued charges and deferred income
+€124,478
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Financing
-€5.1m
Debts after one year
-€388,194
Current portion of long-term debt
-€36,927
Short-term financial debts
-€3.4m
Contributions, distributions and other
-€1.3m
Cash 2025
€1.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,574,043 | €26,164,965 | -€5.4m | -17.1% |
| Fixed assets | 21/28 | €2,768,486 | €3,214,122 | +€445,636 | +16.1% |
| Intangible fixed assets | 21 | €28,757 | €108,850 | +€80,093 | +278.5% |
| Tangible fixed assets | 22/27 | €2,737,077 | €3,102,118 | +€365,040 | +13.3% |
| Land and buildings | 22 | €1,201,925 | €1,229,361 | +€27,435 | +2.3% |
| Plant, machinery and equipment | 23 | €253,361 | €282,234 | +€28,873 | +11.4% |
| Furniture and vehicles | 24 | €184,817 | €407,765 | +€222,948 | +120.6% |
| Leasing and similar rights | 25 | €291,508 | €243,008 | -€48,500 | -16.6% |
| Other tangible fixed assets | 26 | €805,467 | €939,750 | +€134,284 | +16.7% |
| Financial fixed assets | 28 | €2,652 | €3,155 | +€503 | +19.0% |
| Other financial fixed assets | 284/8 | €2,652 | €3,155 | +€503 | +19.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,652 | €3,155 | +€503 | +19.0% |
| Current assets | 29/58 | €28,805,557 | €22,950,843 | -€5.9m | -20.3% |
| Amounts receivable after more than one year | 29 | €1,069,500 | €931,500 | -€138,000 | -12.9% |
| Trade receivables | 290 | €1,069,500 | €931,500 | -€138,000 | -12.9% |
| Stocks and contracts in progress | 3 | €20,223,961 | €15,785,477 | -€4.4m | -21.9% |
| Stocks | 30/36 | €20,223,961 | €15,785,477 | -€4.4m | -21.9% |
| Goods purchased for resale | 34 | €19,759,528 | €15,439,231 | -€4.3m | -21.9% |
| Advance payments | 36 | €464,433 | €346,246 | -€118,187 | -25.4% |
| Amounts receivable within one year | 40/41 | €6,770,227 | €4,708,358 | -€2.1m | -30.5% |
| Trade receivables | 40 | €6,030,541 | €4,461,385 | -€1.6m | -26.0% |
| Other amounts receivable | 41 | €739,686 | €246,972 | -€492,714 | -66.6% |
| Cash at bank and in hand | 54/58 | €715,784 | €1,464,187 | +€748,403 | +104.6% |
| Deferred charges and accrued income | 490/1 | €26,085 | €61,321 | +€35,236 | +135.1% |
| Total equity and liabilities | 10/49 | €31,574,043 | €26,164,965 | -€5.4m | -17.1% |
| Equity | 10/15 | €7,987,986 | €7,987,986 | = | 0.0% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €7,950,786 | €7,950,786 | = | 0.0% |
| Distributable reserves | 133 | €7,950,786 | €7,950,786 | = | 0.0% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Environmental obligations | 163 | €0 | - | = | |
| Amounts payable | 17/49 | €23,586,057 | €18,176,979 | -€5.4m | -22.9% |
| Amounts payable after more than one year | 17 | €2,401,344 | €2,013,150 | -€388,194 | -16.2% |
| Financial debts | 170/4 | €2,401,344 | €2,013,150 | -€388,194 | -16.2% |
| Leasing and similar obligations | 172 | €227,300 | €176,475 | -€50,825 | -22.4% |
| Credit institutions | 173 | €2,174,044 | €1,836,675 | -€337,369 | -15.5% |
| Amounts payable within one year | 42/48 | €21,068,356 | €15,922,995 | -€5.1m | -24.4% |
| Current portion of amounts payable after more than one year | 42 | €443,945 | €407,018 | -€36,927 | -8.3% |
| Financial debts | 43 | €12,753,952 | €9,390,814 | -€3.4m | -26.4% |
| Credit institutions | 430/8 | €12,753,952 | €9,390,814 | -€3.4m | -26.4% |
| Trade debts | 44 | €7,279,930 | €3,984,894 | -€3.3m | -45.3% |
| Suppliers | 440/4 | €7,279,930 | €3,984,894 | -€3.3m | -45.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €590,529 | €813,798 | +€223,269 | +37.8% |
| Taxes | 450/3 | €47,796 | €233,252 | +€185,456 | +388.0% |
| Remuneration and social security | 454/9 | €542,733 | €580,546 | +€37,813 | +7.0% |
| Other amounts payable | 47/48 | €0 | €1,326,470 | +€1.3m | |
| Accrued charges and deferred income | 492/3 | €116,357 | €240,835 | +€124,478 | +107.0% |
| Operating income | 70/76A | €59,002,413 | €55,447,465 | -€3.6m | -6.0% |
| Turnover | 70 | €56,995,779 | €52,803,039 | -€4.2m | -7.4% |
| Other operating income | 74 | €1,931,197 | €2,643,765 | +€712,568 | +36.9% |
| Non-recurring operating income | 76A | €75,437 | €661 | -€74,776 | -99.1% |
| Operating charges | 60/66A | €54,989,826 | €52,926,051 | -€2.1m | -3.8% |
| Goods for resale, raw materials and consumables | 60 | €48,005,731 | €44,579,856 | -€3.4m | -7.1% |
| Purchases | 600/8 | €56,851,638 | €40,546,361 | -€16.3m | -28.7% |
| Change in stocks: decrease (increase) | 609 | -€8,845,907 | €4,033,495 | +€12.9m | |
| Services and other goods | 61 | €2,035,093 | €2,845,240 | +€810,147 | +39.8% |
| Remuneration, social security and pensions | 62 | €3,859,110 | €4,179,120 | +€320,010 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €996,127 | €799,875 | -€196,252 | -19.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,527 | €285,632 | +€263,105 | +1167.9% |
| Other operating charges | 640/8 | €71,089 | €236,328 | +€165,239 | +232.4% |
| Non-recurring operating charges | 66A | €150 | €0 | -€150 | -100.0% |
| Operating profit (loss) | 9901 | €4,012,587 | €2,521,415 | -€1.5m | -37.2% |
| Financial income | 75/76B | €39,995 | €32,287 | -€7,708 | -19.3% |
| Recurring financial income | 75 | €39,995 | €32,287 | -€7,708 | -19.3% |
| Income from current assets | 751 | €35,552 | €32,220 | -€3,331 | -9.4% |
| Other financial income | 752/9 | €4,444 | €67 | -€4,377 | -98.5% |
| Financial charges | 65/66B | €591,078 | €727,686 | +€136,609 | +23.1% |
| Recurring financial charges | 65 | €591,078 | €727,686 | +€136,609 | +23.1% |
| Debt charges | 650 | €575,010 | €719,529 | +€144,519 | +25.1% |
| Other financial charges | 652/9 | €16,068 | €8,158 | -€7,911 | -49.2% |
| Profit (loss) for the period before taxes | 9903 | €3,461,505 | €1,826,015 | -€1.6m | -47.2% |
| Income taxes | 67/77 | €890,016 | €499,545 | -€390,471 | -43.9% |
| Taxes | 670/3 | €893,021 | €499,545 | -€393,476 | -44.1% |
| Tax adjustments and reversals of tax provisions | 77 | €3,005 | €0 | -€3,005 | -100.0% |
| Profit (loss) for the period | 9904 | €2,571,489 | €1,326,470 | -€1.2m | -48.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,571,489 | €1,326,470 | -€1.2m | -48.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.