KeyDao: what changed
Two fiscal 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.
KeyDao
Largest movements
- Receivables within one year +€30,288
up €30,288 (+2614.6%), from €1,158 to €31,446
of which Trade receivables: +€30,005
- Cash +€16,095
up €16,095 (+26.3%), from €61,295 to €77,390
mainly Net result for the year (+€25,374) and Debts after one year (+€19,696)
- Stocks and contracts +€4,219
new in 2025: €4,219
- Debts after one year +€19,696
new in 2025: €19,696
- Other debts +€16,409
up €16,409 (+532.4%), from €3,082 to €19,491
- Profit (loss) carried forward +€10,374
up €10,374 (+60.0%), from -€17,275 to -€6,901
- Current portion of long-term debt +€4,014
new in 2025: €4,014
- Trade debts +€1,660
up €1,660 (+562.6%), from €295 to €1,955
- Taxes +€4,262
up €4,262 (+2912.6%), from €146 to €4,409
- Gross operating margin -€3,742
down €3,742 (-10.5%), from €35,523 to €31,781
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 | €66,932 | €118,844 | +€51,912 | +77.6% |
| Fixed assets | 21/28 | €2,149 | €2,782 | +€633 | +29.4% |
| Tangible fixed assets | 22/27 | €1,899 | €2,532 | +€633 | +33.3% |
| Furniture and vehicles | 24 | €636 | €1,485 | +€849 | +133.5% |
| Other tangible fixed assets | 26 | €1,263 | €1,047 | -€216 | -17.1% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €64,783 | €116,062 | +€51,279 | +79.2% |
| Stocks and contracts in progress | 3 | - | €4,219 | +€4,219 | |
| Stocks | 30/36 | - | €4,219 | +€4,219 | |
| Amounts receivable within one year | 40/41 | €1,158 | €31,446 | +€30,288 | +2614.6% |
| Trade receivables | 40 | €1,150 | €31,155 | +€30,005 | +2610.3% |
| Other amounts receivable | 41 | €9 | €291 | +€282 | +3177.2% |
| Cash at bank and in hand | 54/58 | €61,295 | €77,390 | +€16,095 | +26.3% |
| Deferred charges and accrued income | 490/1 | €2,330 | €3,007 | +€676 | +29.0% |
| Total equity and liabilities | 10/49 | €66,932 | €118,844 | +€51,912 | +77.6% |
| Equity | 10/15 | €60,925 | €71,298 | +€10,374 | +17.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €75,700 | €75,700 | = | 0.0% |
| Distributable reserves | 133 | €75,700 | €75,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,275 | -€6,901 | +€10,374 | +60.0% |
| Amounts payable | 17/49 | €6,008 | €47,546 | +€41,538 | +691.4% |
| Amounts payable after more than one year | 17 | - | €19,696 | +€19,696 | |
| Financial debts | 170/4 | - | €19,696 | +€19,696 | |
| Amounts payable within one year | 42/48 | €5,934 | €27,292 | +€21,357 | +359.9% |
| Current portion of amounts payable after more than one year | 42 | - | €4,014 | +€4,014 | |
| Trade debts | 44 | €295 | €1,955 | +€1,660 | +562.6% |
| Suppliers | 440/4 | €295 | €1,955 | +€1,660 | +562.6% |
| Taxes, remuneration and social security | 45 | €2,557 | €1,831 | -€726 | -28.4% |
| Taxes | 450/3 | €704 | €1,831 | +€1,127 | +160.1% |
| Remuneration and social security | 454/9 | €1,853 | - | -€1,853 | |
| Other amounts payable | 47/48 | €3,082 | €19,491 | +€16,409 | +532.4% |
| Accrued charges and deferred income | 492/3 | €73 | €558 | +€484 | +660.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,056 | €763 | -€293 | -27.7% |
| Other operating charges | 640/8 | €754 | €793 | +€39 | +5.2% |
| Gross operating margin | 9900 | €35,523 | €31,781 | -€3,742 | -10.5% |
| Operating profit (loss) | 9901 | €33,712 | €30,224 | -€3,488 | -10.3% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €155 | €442 | +€287 | +185.3% |
| Recurring financial charges | 65 | €155 | €442 | +€287 | +185.3% |
| Profit (loss) for the period before taxes | 9903 | €33,560 | €29,782 | -€3,778 | -11.3% |
| Income taxes | 67/77 | €146 | €4,409 | +€4,262 | +2912.6% |
| Profit (loss) for the period | 9904 | €33,414 | €25,374 | -€8,041 | -24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,414 | €25,374 | -€8,041 | -24.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.