Keyloop (Belgium): 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.
Keyloop (Belgium)
Largest movements
- Receivables within one year +€1.5m
up €1.5m (+126%), from €1.2m to €2.8m
of which Trade receivables: +€1.2m
- Tangible fixed assets -€57,443
down €57,443 (-17.8%), from €323,061 to €265,618
of which Furniture and vehicles: -€45,643
- Trade debts +€2.1m
up €2.1m (+138%), from €1.5m to €3.6m
- Profit (loss) carried forward -€1.8m
down €1.8m (-54.7%), from -€3.3m to -€5.1m
- Accrued charges and deferred income +€996,299
up €996,299 (+5,491%), from €18,143 to €1.0m
- Tax, wage and social debts +€191,914
up €191,914 (+21.3%), from €900,728 to €1.1m
of which Taxes: +€198,172
- Turnover +€4.3m
new in 2025: €4.3m
- Purchases and services +€3.4m
new in 2025: €3.4m
- Staff costs +€323,782
up €323,782 (+7.8%), from €4.1m to €4.4m
- Gross operating margin +€83,255
up €83,255 (+3.1%), from €2.7m to €2.8m
- Write-downs -€72,190
down €72,190 (-65.0%), from €110,995 to €38,804
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,681,229 | €3,172,706 | +€1.5m | +88.7% |
| Fixed assets | 21/28 | €373,061 | €315,618 | -€57,443 | -15.4% |
| Tangible fixed assets | 22/27 | €323,061 | €265,618 | -€57,443 | -17.8% |
| Plant, machinery and equipment | 23 | €53,911 | €42,111 | -€11,799 | -21.9% |
| Furniture and vehicles | 24 | €269,150 | €223,507 | -€45,643 | -17.0% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €1,308,168 | €2,857,088 | +€1.5m | +118% |
| Stocks and contracts in progress | 3 | €12,336 | €10,281 | -€2,055 | -16.7% |
| Stocks | 30/36 | €12,336 | €10,281 | -€2,055 | -16.7% |
| Amounts receivable within one year | 40/41 | €1,227,614 | €2,776,824 | +€1.5m | +126% |
| Trade receivables | 40 | €299,159 | €1,511,444 | +€1.2m | +405% |
| Other amounts receivable | 41 | €928,455 | €1,265,381 | +€336,925 | +36.3% |
| Deferred charges and accrued income | 490/1 | €68,218 | €69,983 | +€1,764 | +2.6% |
| Total equity and liabilities | 10/49 | €1,681,229 | €3,172,706 | +€1.5m | +88.7% |
| Equity | 10/15 | -€755,687 | -€2,546,039 | -€1.8m | -237% |
| Contributions | 10/11 | €1,843,184 | €1,843,184 | = | 0.0% |
| Reserves | 13 | €671,612 | €671,612 | = | 0.0% |
| Non-distributable reserves | 130/1 | €671,612 | €671,612 | = | 0.0% |
| Reserves not available under the articles | 1311 | €671,612 | €671,612 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,270,484 | -€5,060,836 | -€1.8m | -54.7% |
| Amounts payable | 17/49 | €2,436,916 | €5,718,746 | +€3.3m | +135% |
| Amounts payable within one year | 42/48 | €2,418,773 | €4,704,303 | +€2.3m | +94.5% |
| Trade debts | 44 | €1,518,045 | €3,611,662 | +€2.1m | +138% |
| Suppliers | 440/4 | €1,518,045 | €3,611,662 | +€2.1m | +138% |
| Taxes, remuneration and social security | 45 | €900,728 | €1,092,642 | +€191,914 | +21.3% |
| Taxes | 450/3 | €15,843 | €214,015 | +€198,172 | +1,251% |
| Remuneration and social security | 454/9 | €884,885 | €878,627 | -€6,258 | -0.7% |
| Accrued charges and deferred income | 492/3 | €18,143 | €1,014,442 | +€996,299 | +5,491% |
| Turnover | 70 | - | €4,335,834 | +€4.3m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €3,434,688 | +€3.4m | |
| Remuneration, social security and pensions | 62 | €4,125,923 | €4,449,705 | +€323,782 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,265 | €72,810 | +€9,545 | +15.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €110,995 | €38,804 | -€72,190 | -65.0% |
| Other operating charges | 640/8 | €1,411 | €496 | -€915 | -64.9% |
| Gross operating margin | 9900 | €2,727,183 | €2,810,438 | +€83,255 | +3.1% |
| Operating profit (loss) | 9901 | -€1,574,410 | -€1,751,377 | -€176,967 | -11.2% |
| Financial income | 75/76B | €25,631 | €680 | -€24,951 | -97.3% |
| Recurring financial income | 75 | €25,631 | €680 | -€24,951 | -97.3% |
| Financial charges | 65/66B | €6,014 | €31,229 | +€25,215 | +419% |
| Recurring financial charges | 65 | €6,014 | €31,229 | +€25,215 | +419% |
| Profit (loss) for the period before taxes | 9903 | -€1,554,794 | -€1,781,926 | -€227,132 | -14.6% |
| Income taxes | 67/77 | €9,087 | €8,427 | -€660 | -7.3% |
| Profit (loss) for the period | 9904 | -€1,563,881 | -€1,790,353 | -€226,472 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,563,881 | -€1,790,353 | -€226,472 | -14.5% |
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 25 October 2026 via checked.be.