KEYEN: 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.
KEYEN
Largest movements
- Receivables within one year -€7,330
down €7,330 (-56.4%), from €13,005 to €5,675
of which Trade receivables: -€6,832
- Cash -€5,209
down €5,209 (-21.6%), from €24,158 to €18,949
mainly Net result for the year (-€9,970) and Tax, wage and social debts (-€2,073)
- Stocks and contracts +€1,361
up €1,361 (+9.4%), from €14,552 to €15,913
- Profit (loss) carried forward -€9,970
new in 2025: -€9,970
- Tax, wage and social debts -€2,073
down €2,073 (-82.9%), from €2,500 to €427
- Other debts +€1,663
up €1,663 (+35.4%), from €4,700 to €6,362
- Accrued charges and deferred income -€1,600
no longer reported in 2025 (was €1,600)
- Trade debts +€801
new in 2025: €801
- Purchases and services -€21,924
down €21,924 (-71.4%), from €30,719 to €8,795
- Gross operating margin -€21,920
down €21,920, from €11,185 to -€10,735
- Taxes -€2,620
down €2,620, from €1,000 to -€1,620
- Financial charges -€811
down €811 (-95.0%), from €854 to €43
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 | €51,716 | €40,537 | -€11,179 | -21.6% |
| Current assets | 29/58 | €51,716 | €40,537 | -€11,179 | -21.6% |
| Stocks and contracts in progress | 3 | €14,552 | €15,913 | +€1,361 | +9.4% |
| Stocks | 30/36 | €14,552 | €15,913 | +€1,361 | +9.4% |
| Amounts receivable within one year | 40/41 | €13,005 | €5,675 | -€7,330 | -56.4% |
| Trade receivables | 40 | €12,030 | €5,198 | -€6,832 | -56.8% |
| Other amounts receivable | 41 | €975 | €477 | -€499 | -51.1% |
| Cash at bank and in hand | 54/58 | €24,158 | €18,949 | -€5,209 | -21.6% |
| Total equity and liabilities | 10/49 | €51,716 | €40,537 | -€11,179 | -21.6% |
| Equity | 10/15 | €27,916 | €17,946 | -€9,970 | -35.7% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Capital | 10 | €24,000 | €24,000 | = | 0.0% |
| Issued capital | 100 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €3,916 | €3,916 | = | 0.0% |
| Distributable reserves | 133 | €3,916 | €3,916 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€9,970 | -€9,970 | |
| Amounts payable | 17/49 | €23,800 | €22,591 | -€1,209 | -5.1% |
| Amounts payable after more than one year | 17 | €15,000 | €15,000 | = | 0.0% |
| Financial debts | 170/4 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,200 | €7,591 | +€391 | +5.4% |
| Trade debts | 44 | - | €801 | +€801 | |
| Suppliers | 440/4 | - | €801 | +€801 | |
| Taxes, remuneration and social security | 45 | €2,500 | €427 | -€2,073 | -82.9% |
| Taxes | 450/3 | €2,500 | €427 | -€2,073 | -82.9% |
| Other amounts payable | 47/48 | €4,700 | €6,362 | +€1,663 | +35.4% |
| Accrued charges and deferred income | 492/3 | €1,600 | - | -€1,600 | |
| Goods, raw materials, services and sundry goods | 60/61 | €30,719 | €8,795 | -€21,924 | -71.4% |
| Other operating charges | 640/8 | €900 | €820 | -€81 | -8.9% |
| Gross operating margin | 9900 | €11,185 | -€10,735 | -€21,920 | |
| Operating profit (loss) | 9901 | €10,285 | -€11,554 | -€21,839 | |
| Financial income | 75/76B | €1 | €7 | +€6 | +645.0% |
| Recurring financial income | 75 | €1 | €7 | +€6 | +645.0% |
| Non-recurring financial income | 76B | €1 | €7 | +€6 | +645.0% |
| Financial charges | 65/66B | €854 | €43 | -€811 | -95.0% |
| Recurring financial charges | 65 | €854 | €43 | -€811 | -95.0% |
| Profit (loss) for the period before taxes | 9903 | €9,432 | -€11,590 | -€21,022 | |
| Income taxes | 67/77 | €1,000 | -€1,620 | -€2,620 | |
| Profit (loss) for the period | 9904 | €8,432 | -€9,970 | -€18,402 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,432 | -€9,970 | -€18,402 |
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 9 October 2026 via checked.be.