KEYLAB: 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.
KEYLAB
Largest movements
- Cash +€18,573
up €18,573 (+81.5%), from €22,790 to €41,363
mainly Net result for the year (+€40,770) and Other debts (+€21,789)
- Receivables within one year +€7,932
up €7,932 (+36.9%), from €21,520 to €29,452
of which Trade receivables: +€6,420
- Deferred charges and accrued income +€5,777
up €5,777 (+273.0%), from €2,116 to €7,893
- Intangible fixed assets -€3,776
down €3,776 (-39.4%), from €9,593 to €5,817
- Other debts +€21,789
up €21,789 (+525.5%), from €4,147 to €25,936
- Trade debts +€9,375
up €9,375 (+145.6%), from €6,438 to €15,812
- Debts after one year -€3,204
down €3,204 (-56.5%), from €5,672 to €2,468
- Taxes -€2,338
down €2,338 (-16.8%), from €13,884 to €11,547
- Gross operating margin +€2,028
up €2,028 (+3.4%), from €59,602 to €61,630
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 | €105,684 | €133,701 | +€28,017 | +26.5% |
| Fixed assets | 21/28 | €24,258 | €19,994 | -€4,265 | -17.6% |
| Intangible fixed assets | 21 | €9,593 | €5,817 | -€3,776 | -39.4% |
| Tangible fixed assets | 22/27 | €9,540 | €9,052 | -€489 | -5.1% |
| Furniture and vehicles | 24 | €9,540 | €9,052 | -€489 | -5.1% |
| Financial fixed assets | 28 | €5,125 | €5,125 | = | 0.0% |
| Current assets | 29/58 | €81,425 | €113,707 | +€32,282 | +39.6% |
| Amounts receivable within one year | 40/41 | €21,520 | €29,452 | +€7,932 | +36.9% |
| Trade receivables | 40 | €21,078 | €27,498 | +€6,420 | +30.5% |
| Other amounts receivable | 41 | €442 | €1,953 | +€1,512 | +342.1% |
| Current investments | 50/53 | €34,999 | €34,999 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,790 | €41,363 | +€18,573 | +81.5% |
| Deferred charges and accrued income | 490/1 | €2,116 | €7,893 | +€5,777 | +273.0% |
| Total equity and liabilities | 10/49 | €105,684 | €133,701 | +€28,017 | +26.5% |
| Equity | 10/15 | €76,482 | €76,075 | -€407 | -0.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,482 | €71,075 | -€407 | -0.6% |
| Amounts payable | 17/49 | €29,202 | €57,626 | +€28,424 | +97.3% |
| Amounts payable after more than one year | 17 | €5,672 | €2,468 | -€3,204 | -56.5% |
| Financial debts | 170/4 | €5,672 | €2,468 | -€3,204 | -56.5% |
| Amounts payable within one year | 42/48 | €23,469 | €55,158 | +€31,689 | +135.0% |
| Current portion of amounts payable after more than one year | 42 | €3,107 | €3,204 | +€97 | +3.1% |
| Trade debts | 44 | €6,438 | €15,812 | +€9,375 | +145.6% |
| Suppliers | 440/4 | €6,438 | €15,812 | +€9,375 | +145.6% |
| Taxes, remuneration and social security | 45 | €9,777 | €10,206 | +€428 | +4.4% |
| Taxes | 450/3 | €9,277 | €10,206 | +€928 | +10.0% |
| Remuneration and social security | 454/9 | €500 | €0 | -€500 | -100.0% |
| Other amounts payable | 47/48 | €4,147 | €25,936 | +€21,789 | +525.5% |
| Accrued charges and deferred income | 492/3 | €61 | €0 | -€61 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,848 | €8,317 | +€470 | +6.0% |
| Other operating charges | 640/8 | €566 | €584 | +€18 | +3.1% |
| Gross operating margin | 9900 | €59,602 | €61,630 | +€2,028 | +3.4% |
| Operating profit (loss) | 9901 | €51,188 | €52,729 | +€1,541 | +3.0% |
| Financial income | 75/76B | €135 | €31 | -€104 | -77.2% |
| Recurring financial income | 75 | €135 | €31 | -€104 | -77.2% |
| Financial charges | 65/66B | €555 | €443 | -€112 | -20.1% |
| Recurring financial charges | 65 | €555 | €443 | -€112 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €50,769 | €52,317 | +€1,548 | +3.0% |
| Income taxes | 67/77 | €13,884 | €11,547 | -€2,338 | -16.8% |
| Profit (loss) for the period | 9904 | €36,884 | €40,770 | +€3,886 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,884 | €40,770 | +€3,886 | +10.5% |
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.