KEYCOTAX: 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.
KEYCOTAX
Largest movements
- Cash +€7,104
up €7,104 (+1438.8%), from €494 to €7,598
mainly Net result for the year (+€7,004) and Receivables within one year (+€4,879)
- Receivables within one year -€4,879
no longer reported in 2025 (was €4,879)
- Tangible fixed assets +€766
up €766 (+6.1%), from €12,476 to €13,242
of which Furniture and vehicles: +€2,579
- Deferred charges and accrued income +€355
up €355 (+15.6%), from €2,271 to €2,626
- Profit (loss) carried forward +€7,004
up €7,004 (+42.8%), from -€16,347 to -€9,344
- Other debts -€4,389
down €4,389 (-41.3%), from €10,628 to €6,239
- Tax, wage and social debts +€1,184
up €1,184 (+22.5%), from €5,267 to €6,452
- Trade debts -€453
down €453 (-53.9%), from €841 to €388
- Gross operating margin -€11,377
down €11,377 (-45.3%), from €25,102 to €13,724
- Other operating charges -€8,340
down €8,340 (-89.7%), from €9,294 to €954
- Taxes +€888
up €888 (+34.9%), from €2,547 to €3,434
- Staff costs -€556
no longer reported in 2025 (was €556)
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 | €20,121 | €23,466 | +€3,346 | +16.6% |
| Fixed assets | 21/28 | €12,476 | €13,242 | +€766 | +6.1% |
| Tangible fixed assets | 22/27 | €12,476 | €13,242 | +€766 | +6.1% |
| Furniture and vehicles | 24 | €175 | €2,753 | +€2,579 | +1477.2% |
| Other tangible fixed assets | 26 | €12,301 | €10,489 | -€1,812 | -14.7% |
| Current assets | 29/58 | €7,645 | €10,224 | +€2,580 | +33.7% |
| Amounts receivable within one year | 40/41 | €4,879 | - | -€4,879 | |
| Trade receivables | 40 | €4,879 | - | -€4,879 | |
| Cash at bank and in hand | 54/58 | €494 | €7,598 | +€7,104 | +1438.8% |
| Deferred charges and accrued income | 490/1 | €2,271 | €2,626 | +€355 | +15.6% |
| Total equity and liabilities | 10/49 | €20,121 | €23,466 | +€3,346 | +16.6% |
| Equity | 10/15 | €3,384 | €10,387 | +€7,004 | +207.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €13,531 | €13,531 | = | 0.0% |
| Distributable reserves | 133 | €13,531 | €13,531 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,347 | -€9,344 | +€7,004 | +42.8% |
| Amounts payable | 17/49 | €16,737 | €13,079 | -€3,658 | -21.9% |
| Amounts payable within one year | 42/48 | €16,737 | €13,079 | -€3,658 | -21.9% |
| Trade debts | 44 | €841 | €388 | -€453 | -53.9% |
| Suppliers | 440/4 | €841 | €388 | -€453 | -53.9% |
| Taxes, remuneration and social security | 45 | €5,267 | €6,452 | +€1,184 | +22.5% |
| Taxes | 450/3 | €5,267 | €6,452 | +€1,184 | +22.5% |
| Other amounts payable | 47/48 | €10,628 | €6,239 | -€4,389 | -41.3% |
| Remuneration, social security and pensions | 62 | €556 | - | -€556 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,398 | €2,209 | -€189 | -7.9% |
| Other operating charges | 640/8 | €9,294 | €954 | -€8,340 | -89.7% |
| Gross operating margin | 9900 | €25,102 | €13,724 | -€11,377 | -45.3% |
| Operating profit (loss) | 9901 | €12,854 | €10,562 | -€2,292 | -17.8% |
| Financial charges | 65/66B | €246 | €124 | -€122 | -49.6% |
| Recurring financial charges | 65 | €246 | €124 | -€122 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | €12,608 | €10,438 | -€2,170 | -17.2% |
| Income taxes | 67/77 | €2,547 | €3,434 | +€888 | +34.9% |
| Profit (loss) for the period | 9904 | €10,062 | €7,004 | -€3,058 | -30.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,062 | €7,004 | -€3,058 | -30.4% |
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 10 October 2026 via checked.be.