KEYBERGH INVEST: what changed
KEYBERGH INVEST
Largest movements
- Financial fixed assets +€140,000
up €140,000 (+2,800%), from €5,000 to €145,000
- Receivables within one year +€14,593
up €14,593 (+182%), from €8,028 to €22,622
of which Trade receivables: +€14,503
- Tangible fixed assets -€4,278
down €4,278 (-20.5%), from €20,868 to €16,589
of which Furniture and vehicles: -€4,110
- Debts after one year +€115,739
up €115,739 (+938%), from €12,336 to €128,075
- Current portion of long-term debt +€17,544
up €17,544 (+261%), from €6,717 to €24,261
- Reserves +€17,183
up €17,183 (+104%), from €16,552 to €33,735
- Tax, wage and social debts +€2,898
up €2,898 (+27.0%), from €10,722 to €13,620
- Trade debts -€2,816
down €2,816 (-78.9%), from €3,567 to €751
- Gross operating margin +€8,605
up €8,605 (+33.9%), from €25,407 to €34,012
- Financial charges +€4,565
up €4,565 (+1,074%), from €425 to €4,990
- Depreciation +€2,910
up €2,910 (+213%), from €1,369 to €4,278
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,652 | €203,443 | +€148,791 | +272% |
| Fixed assets | 21/28 | €25,868 | €161,589 | +€135,722 | +525% |
| Tangible fixed assets | 22/27 | €20,868 | €16,589 | -€4,278 | -20.5% |
| Plant, machinery and equipment | 23 | €1,679 | €1,510 | -€169 | -10.1% |
| Furniture and vehicles | 24 | €19,189 | €15,079 | -€4,110 | -21.4% |
| Financial fixed assets | 28 | €5,000 | €145,000 | +€140,000 | +2,800% |
| Current assets | 29/58 | €28,784 | €41,854 | +€13,070 | +45.4% |
| Amounts receivable within one year | 40/41 | €8,028 | €22,622 | +€14,593 | +182% |
| Trade receivables | 40 | €8,028 | €22,532 | +€14,503 | +181% |
| Other amounts receivable | 41 | - | €90 | +€90 | |
| Cash at bank and in hand | 54/58 | €20,756 | €19,057 | -€1,698 | -8.2% |
| Deferred charges and accrued income | 490/1 | - | €175 | +€175 | |
| Total equity and liabilities | 10/49 | €54,652 | €203,443 | +€148,791 | +272% |
| Equity | 10/15 | €19,552 | €36,735 | +€17,183 | +87.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €16,552 | €33,735 | +€17,183 | +104% |
| Distributable reserves | 133 | €16,552 | €33,735 | +€17,183 | +104% |
| Amounts payable | 17/49 | €35,100 | €166,707 | +€131,608 | +375% |
| Amounts payable after more than one year | 17 | €12,336 | €128,075 | +€115,739 | +938% |
| Financial debts | 170/4 | €12,336 | €128,075 | +€115,739 | +938% |
| Amounts payable within one year | 42/48 | €22,764 | €38,632 | +€15,868 | +69.7% |
| Current portion of amounts payable after more than one year | 42 | €6,717 | €24,261 | +€17,544 | +261% |
| Trade debts | 44 | €3,567 | €751 | -€2,816 | -78.9% |
| Suppliers | 440/4 | €3,567 | €751 | -€2,816 | -78.9% |
| Taxes, remuneration and social security | 45 | €10,722 | €13,620 | +€2,898 | +27.0% |
| Taxes | 450/3 | €10,722 | €13,620 | +€2,898 | +27.0% |
| Other amounts payable | 47/48 | €1,758 | - | -€1,758 | |
| Remuneration, social security and pensions | 62 | €1,856 | €2,033 | +€177 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,369 | €4,278 | +€2,910 | +213% |
| Other operating charges | 640/8 | €99 | €368 | +€269 | +271% |
| Gross operating margin | 9900 | €25,407 | €34,012 | +€8,605 | +33.9% |
| Operating profit (loss) | 9901 | €22,083 | €27,332 | +€5,249 | +23.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €425 | €4,990 | +€4,565 | +1,074% |
| Recurring financial charges | 65 | €425 | €4,990 | +€4,565 | +1,074% |
| Profit (loss) for the period before taxes | 9903 | €21,658 | €22,342 | +€684 | +3.2% |
| Income taxes | 67/77 | €5,106 | €5,159 | +€53 | +1.0% |
| Profit (loss) for the period | 9904 | €16,552 | €17,183 | +€631 | +3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,552 | €17,183 | +€631 | +3.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.