KEY2INVEST: what changed
Two financial 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.
KEY2INVEST
Largest movements
- Receivables within one year +€41,440
up €41,440 (+203%), from €20,383 to €61,823
of which Other amounts receivable: +€43,346
- Tangible fixed assets +€21,590
up €21,590 (+195%), from €11,099 to €32,690
of which Furniture and vehicles: +€20,179
- Cash +€1,286
up €1,286 (+160%), from €805 to €2,092
mainly Net result for the year (+€48,547) and Tax, wage and social debts (+€15,050)
- Profit (loss) carried forward +€26,664
up €26,664 (+148%), from €18,058 to €44,722
- Tax, wage and social debts +€15,050
up €15,050 (+123%), from €12,269 to €27,319
- Current portion of long-term debt +€14,785
up €14,785 (+264%), from €5,601 to €20,385
- Debts after one year +€9,238
up €9,238 (+113%), from €8,194 to €17,432
- Trade debts -€1,419
down €1,419 (-65.5%), from €2,166 to €746
- Gross operating margin +€58,067
up €58,067 (+326%), from €17,796 to €75,863
- Taxes +€11,937
up €11,937 (+283%), from €4,218 to €16,155
- Depreciation +€4,817
up €4,817 (+156%), from €3,091 to €7,908
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.
Derived cash bridge
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 | €48,288 | €112,605 | +€64,317 | +133% |
| Fixed assets | 21/28 | €11,099 | €32,690 | +€21,590 | +195% |
| Tangible fixed assets | 22/27 | €11,099 | €32,690 | +€21,590 | +195% |
| Plant, machinery and equipment | 23 | €393 | €1,804 | +€1,411 | +359% |
| Furniture and vehicles | 24 | €10,706 | €30,885 | +€20,179 | +188% |
| Current assets | 29/58 | €37,188 | €79,915 | +€42,727 | +115% |
| Amounts receivable within one year | 40/41 | €20,383 | €61,823 | +€41,440 | +203% |
| Trade receivables | 40 | €9,951 | €8,045 | -€1,905 | -19.1% |
| Other amounts receivable | 41 | €10,432 | €53,778 | +€43,346 | +415% |
| Current investments | 50/53 | €16,000 | €16,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €805 | €2,092 | +€1,286 | +160% |
| Total equity and liabilities | 10/49 | €48,288 | €112,605 | +€64,317 | +133% |
| Equity | 10/15 | €20,058 | €46,722 | +€26,664 | +133% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,058 | €44,722 | +€26,664 | +148% |
| Amounts payable | 17/49 | €28,230 | €65,883 | +€37,653 | +133% |
| Amounts payable after more than one year | 17 | €8,194 | €17,432 | +€9,238 | +113% |
| Financial debts | 170/4 | €8,194 | €17,432 | +€9,238 | +113% |
| Amounts payable within one year | 42/48 | €20,035 | €48,450 | +€28,415 | +142% |
| Current portion of amounts payable after more than one year | 42 | €5,601 | €20,385 | +€14,785 | +264% |
| Trade debts | 44 | €2,166 | €746 | -€1,419 | -65.5% |
| Suppliers | 440/4 | €2,166 | €746 | -€1,419 | -65.5% |
| Taxes, remuneration and social security | 45 | €12,269 | €27,319 | +€15,050 | +123% |
| Taxes | 450/3 | €12,269 | €27,319 | +€15,050 | +123% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,091 | €7,908 | +€4,817 | +156% |
| Other operating charges | 640/8 | €211 | €765 | +€554 | +263% |
| Gross operating margin | 9900 | €17,796 | €75,863 | +€58,067 | +326% |
| Operating profit (loss) | 9901 | €14,494 | €67,190 | +€52,696 | +364% |
| Financial income | 75/76B | €118 | - | -€118 | |
| Recurring financial income | 75 | €118 | - | -€118 | |
| Financial charges | 65/66B | €2,388 | €2,488 | +€99 | +4.2% |
| Recurring financial charges | 65 | €2,388 | €2,488 | +€99 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €12,224 | €64,702 | +€52,478 | +429% |
| Income taxes | 67/77 | €4,218 | €16,155 | +€11,937 | +283% |
| Profit (loss) for the period | 9904 | €8,006 | €48,547 | +€40,540 | +506% |
| Profit (loss) for the period to be appropriated | 9905 | €8,006 | €48,547 | +€40,540 | +506% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.