Keykonstrukt: 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.
Keykonstrukt
Largest movements
- Tangible fixed assets +€30,918
up €30,918 (+15.1%), from €204,894 to €235,812
of which Furniture and vehicles: +€45,784
- Stocks and contracts +€21,624
up €21,624 (+430%), from €5,026 to €26,650
- Receivables within one year -€18,898
down €18,898 (-30.5%), from €61,874 to €42,977
of which Trade receivables: -€22,457
- Deferred charges and accrued income +€5,140
up €5,140 (+89.7%), from €5,733 to €10,873
- Debts after one year +€17,141
up €17,141 (+15.8%), from €108,615 to €125,756
- Profit (loss) carried forward -€16,005
down €16,005 (-85.9%), from €18,633 to €2,628
- Current portion of long-term debt +€15,399
up €15,399 (+37.3%), from €41,315 to €56,714
- Trade debts +€14,497
up €14,497 (+42.6%), from €34,070 to €48,567
- Other debts +€10,145
up €10,145 (+8.9%), from €114,463 to €124,608
- Gross operating margin +€19,839
up €19,839 (+24.7%), from €80,445 to €100,284
- Taxes +€4,661
up €4,661 (+220%), from €2,122 to €6,784
- Depreciation -€3,722
down €3,722 (-5.4%), from €68,786 to €65,064
- Financial charges +€1,096
up €1,096 (+26.9%), from €4,079 to €5,174
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.
Derived cash bridge
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 | €338,012 | €379,616 | +€41,604 | +12.3% |
| Fixed assets | 21/28 | €209,394 | €240,312 | +€30,918 | +14.8% |
| Tangible fixed assets | 22/27 | €204,894 | €235,812 | +€30,918 | +15.1% |
| Plant, machinery and equipment | 23 | €53,343 | €40,007 | -€13,336 | -25.0% |
| Furniture and vehicles | 24 | €146,716 | €192,500 | +€45,784 | +31.2% |
| Other tangible fixed assets | 26 | €4,836 | €3,306 | -€1,529 | -31.6% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €128,618 | €139,304 | +€10,686 | +8.3% |
| Stocks and contracts in progress | 3 | €5,026 | €26,650 | +€21,624 | +430% |
| Stocks | 30/36 | €5,026 | €26,650 | +€21,624 | +430% |
| Amounts receivable within one year | 40/41 | €61,874 | €42,977 | -€18,898 | -30.5% |
| Trade receivables | 40 | €57,524 | €35,067 | -€22,457 | -39.0% |
| Other amounts receivable | 41 | €4,351 | €7,909 | +€3,559 | +81.8% |
| Cash at bank and in hand | 54/58 | €55,985 | €58,804 | +€2,819 | +5.0% |
| Deferred charges and accrued income | 490/1 | €5,733 | €10,873 | +€5,140 | +89.7% |
| Total equity and liabilities | 10/49 | €338,012 | €379,616 | +€41,604 | +12.3% |
| Equity | 10/15 | €21,633 | €5,628 | -€16,005 | -74.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,633 | €2,628 | -€16,005 | -85.9% |
| Amounts payable | 17/49 | €316,379 | €373,988 | +€57,609 | +18.2% |
| Amounts payable after more than one year | 17 | €108,615 | €125,756 | +€17,141 | +15.8% |
| Financial debts | 170/4 | €108,615 | €125,756 | +€17,141 | +15.8% |
| Amounts payable within one year | 42/48 | €207,764 | €248,233 | +€40,468 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | €41,315 | €56,714 | +€15,399 | +37.3% |
| Trade debts | 44 | €34,070 | €48,567 | +€14,497 | +42.6% |
| Suppliers | 440/4 | €34,070 | €48,567 | +€14,497 | +42.6% |
| Taxes, remuneration and social security | 45 | €17,915 | €18,343 | +€428 | +2.4% |
| Taxes | 450/3 | €10,655 | €13,083 | +€2,428 | +22.8% |
| Remuneration and social security | 454/9 | €7,260 | €5,260 | -€2,000 | -27.5% |
| Other amounts payable | 47/48 | €114,463 | €124,608 | +€10,145 | +8.9% |
| Non-recurring operating income | 76A | €500 | €0 | -€500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,786 | €65,064 | -€3,722 | -5.4% |
| Other operating charges | 640/8 | €2,971 | €3,862 | +€891 | +30.0% |
| Gross operating margin | 9900 | €80,445 | €100,284 | +€19,839 | +24.7% |
| Operating profit (loss) | 9901 | €8,689 | €31,358 | +€22,669 | +261% |
| Financial income | 75/76B | €0 | €261 | +€261 | |
| Recurring financial income | 75 | €0 | €261 | +€261 | |
| Financial charges | 65/66B | €4,079 | €5,174 | +€1,096 | +26.9% |
| Recurring financial charges | 65 | €4,079 | €5,174 | +€1,096 | +26.9% |
| Profit (loss) for the period before taxes | 9903 | €4,610 | €26,445 | +€21,835 | +474% |
| Income taxes | 67/77 | €2,122 | €6,784 | +€4,661 | +220% |
| Profit (loss) for the period | 9904 | €2,488 | €19,661 | +€17,173 | +690% |
| Profit (loss) for the period to be appropriated | 9905 | €2,488 | €19,661 | +€17,173 | +690% |
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 24 October 2026 via checked.be.