KEYBERGH: 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.
KEYBERGH
Largest movements
- Receivables within one year +€57,600
up €57,600 (+61.3%), from €93,963 to €151,564
- Cash -€11,381
down €11,381 (-40.3%), from €28,272 to €16,890
mainly Receivables within one year (-€57,600) and Accrued charges and deferred income (-€1,849)
- Tangible fixed assets -€9,258
down €9,258 (-9.0%), from €102,806 to €93,549
- Reserves +€25,428
up €25,428 (+19.3%), from €131,884 to €157,312
of which Distributable reserves: +€25,428
- Tax, wage and social debts +€14,503
up €14,503 (+133.0%), from €10,902 to €25,405
- Gross operating margin -€9,747
down €9,747 (-14.1%), from €69,041 to €59,294
- Financial income +€4,468
up €4,468 (+121.0%), from €3,694 to €8,162
- Taxes +€3,681
up €3,681 (+20.7%), from €17,822 to €21,503
- Other operating charges +€2,886
up €2,886 (+34.7%), from €8,327 to €11,214
- Depreciation -€2,252
down €2,252 (-19.6%), from €11,510 to €9,258
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 | €257,154 | €295,107 | +€37,953 | +14.8% |
| Fixed assets | 21/28 | €102,806 | €93,549 | -€9,258 | -9.0% |
| Tangible fixed assets | 22/27 | €102,806 | €93,549 | -€9,258 | -9.0% |
| Land and buildings | 22 | €102,806 | €93,549 | -€9,258 | -9.0% |
| Current assets | 29/58 | €154,348 | €201,558 | +€47,210 | +30.6% |
| Amounts receivable after more than one year | 29 | €29,778 | €29,778 | = | 0.0% |
| Other amounts receivable | 291 | €29,778 | €29,778 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €93,963 | €151,564 | +€57,600 | +61.3% |
| Other amounts receivable | 41 | €93,963 | €151,564 | +€57,600 | +61.3% |
| Cash at bank and in hand | 54/58 | €28,272 | €16,890 | -€11,381 | -40.3% |
| Deferred charges and accrued income | 490/1 | €2,335 | €3,326 | +€991 | +42.4% |
| Total equity and liabilities | 10/49 | €257,154 | €295,107 | +€37,953 | +14.8% |
| Equity | 10/15 | €239,934 | €265,362 | +€25,428 | +10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €131,884 | €157,312 | +€25,428 | +19.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €130,024 | €155,452 | +€25,428 | +19.6% |
| Profit (loss) carried forward | 14 | €89,450 | €89,450 | = | 0.0% |
| Amounts payable | 17/49 | €17,221 | €29,745 | +€12,524 | +72.7% |
| Amounts payable within one year | 42/48 | €13,455 | €27,828 | +€14,373 | +106.8% |
| Trade debts | 44 | €413 | €283 | -€130 | -31.4% |
| Suppliers | 440/4 | €413 | €283 | -€130 | -31.4% |
| Taxes, remuneration and social security | 45 | €10,902 | €25,405 | +€14,503 | +133.0% |
| Taxes | 450/3 | €10,902 | €25,405 | +€14,503 | +133.0% |
| Other amounts payable | 47/48 | €2,140 | €2,140 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,766 | €1,917 | -€1,849 | -49.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,510 | €9,258 | -€2,252 | -19.6% |
| Other operating charges | 640/8 | €8,327 | €11,214 | +€2,886 | +34.7% |
| Gross operating margin | 9900 | €69,041 | €59,294 | -€9,747 | -14.1% |
| Operating profit (loss) | 9901 | €49,204 | €38,822 | -€10,381 | -21.1% |
| Financial income | 75/76B | €3,694 | €8,162 | +€4,468 | +121.0% |
| Recurring financial income | 75 | €3,694 | €8,162 | +€4,468 | +121.0% |
| Financial charges | 65/66B | €54 | €54 | = | 0.0% |
| Recurring financial charges | 65 | €54 | €54 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €52,844 | €46,931 | -€5,913 | -11.2% |
| Income taxes | 67/77 | €17,822 | €21,503 | +€3,681 | +20.7% |
| Profit (loss) for the period | 9904 | €35,022 | €25,428 | -€9,594 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,022 | €25,428 | -€9,594 | -27.4% |
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 11 October 2026 via checked.be.