KEY4CE SECURITY: 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.
KEY4CE SECURITY
Largest movements
- Receivables within one year +€132,820
up €132,820 (+110.7%), from €119,970 to €252,790
of which Other amounts receivable: +€118,874
- Cash +€54,386
up €54,386 (+32.8%), from €165,639 to €220,025
mainly Net result for the year (+€174,425) and Tax, wage and social debts (+€82,359)
- Tangible fixed assets -€34,575
down €34,575 (-10.9%), from €315,912 to €281,337
of which Land and buildings: -€28,080
- Reserves +€113,441
up €113,441 (+24.4%), from €465,605 to €579,047
- Tax, wage and social debts +€82,359
up €82,359 (+341.2%), from €24,141 to €106,500
of which Taxes: +€78,255
- Debts after one year -€35,765
down €35,765 (-46.2%), from €77,461 to €41,696
- Other debts -€8,094
down €8,094 (-93.4%), from €8,664 to €570
- Gross operating margin +€145,689
up €145,689 (+29.9%), from €487,966 to €633,655
- Staff costs +€78,806
up €78,806 (+31.5%), from €250,539 to €329,345
- Taxes +€21,335
up €21,335 (+33.5%), from €63,638 to €84,974
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 | €654,262 | €803,184 | +€148,922 | +22.8% |
| Fixed assets | 21/28 | €315,912 | €281,337 | -€34,575 | -10.9% |
| Tangible fixed assets | 22/27 | €315,912 | €281,337 | -€34,575 | -10.9% |
| Land and buildings | 22 | €292,204 | €264,125 | -€28,080 | -9.6% |
| Plant, machinery and equipment | 23 | €20,564 | €16,788 | -€3,776 | -18.4% |
| Furniture and vehicles | 24 | €3,144 | €425 | -€2,719 | -86.5% |
| Current assets | 29/58 | €338,350 | €521,847 | +€183,497 | +54.2% |
| Amounts receivable after more than one year | 29 | €48,748 | €43,698 | -€5,050 | -10.4% |
| Other amounts receivable | 291 | €48,748 | €43,698 | -€5,050 | -10.4% |
| Amounts receivable within one year | 40/41 | €119,970 | €252,790 | +€132,820 | +110.7% |
| Trade receivables | 40 | €73,098 | €87,044 | +€13,946 | +19.1% |
| Other amounts receivable | 41 | €46,873 | €165,746 | +€118,874 | +253.6% |
| Cash at bank and in hand | 54/58 | €165,639 | €220,025 | +€54,386 | +32.8% |
| Deferred charges and accrued income | 490/1 | €3,993 | €5,335 | +€1,341 | +33.6% |
| Total equity and liabilities | 10/49 | €654,262 | €803,184 | +€148,922 | +22.8% |
| Equity | 10/15 | €484,155 | €597,597 | +€113,441 | +23.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €465,605 | €579,047 | +€113,441 | +24.4% |
| Distributable reserves | 133 | €465,605 | €579,047 | +€113,441 | +24.4% |
| Amounts payable | 17/49 | €170,107 | €205,588 | +€35,481 | +20.9% |
| Amounts payable after more than one year | 17 | €77,461 | €41,696 | -€35,765 | -46.2% |
| Financial debts | 170/4 | €77,461 | €41,696 | -€35,765 | -46.2% |
| Amounts payable within one year | 42/48 | €90,061 | €161,303 | +€71,243 | +79.1% |
| Current portion of amounts payable after more than one year | 42 | €35,169 | €35,765 | +€596 | +1.7% |
| Trade debts | 44 | €22,087 | €18,469 | -€3,618 | -16.4% |
| Suppliers | 440/4 | €22,087 | €18,469 | -€3,618 | -16.4% |
| Taxes, remuneration and social security | 45 | €24,141 | €106,500 | +€82,359 | +341.2% |
| Taxes | 450/3 | €1,989 | €80,245 | +€78,255 | +3934.0% |
| Remuneration and social security | 454/9 | €22,152 | €26,255 | +€4,103 | +18.5% |
| Other amounts payable | 47/48 | €8,664 | €570 | -€8,094 | -93.4% |
| Accrued charges and deferred income | 492/3 | €2,585 | €2,588 | +€3 | +0.1% |
| Non-recurring operating income | 76A | €3,977 | €874 | -€3,103 | -78.0% |
| Remuneration, social security and pensions | 62 | €250,539 | €329,345 | +€78,806 | +31.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,012 | €36,195 | +€1,183 | +3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €282 | - | -€282 | |
| Other operating charges | 640/8 | €7,794 | €8,468 | +€674 | +8.6% |
| Gross operating margin | 9900 | €487,966 | €633,655 | +€145,689 | +29.9% |
| Operating profit (loss) | 9901 | €194,339 | €259,648 | +€65,309 | +33.6% |
| Financial income | 75/76B | €2,905 | €1,929 | -€976 | -33.6% |
| Recurring financial income | 75 | €2,905 | €1,929 | -€976 | -33.6% |
| Financial charges | 65/66B | €2,809 | €2,177 | -€632 | -22.5% |
| Recurring financial charges | 65 | €2,809 | €2,177 | -€632 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €194,434 | €259,399 | +€64,965 | +33.4% |
| Income taxes | 67/77 | €63,638 | €84,974 | +€21,335 | +33.5% |
| Profit (loss) for the period | 9904 | €130,796 | €174,425 | +€43,629 | +33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €130,796 | €174,425 | +€43,629 | +33.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.