KEYOPS: 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.
KEYOPS
Largest movements
- Cash +€14,923
up €14,923 (+27.2%), from €54,799 to €69,722
mainly Other debts (+€43,775) and Net result for the year (+€30,477)
- Tangible fixed assets -€14,352
down €14,352 (-24.5%), from €58,623 to €44,271
of which Furniture and vehicles: -€11,021
- Profit (loss) carried forward -€49,523
down €49,523 (-50.0%), from €99,109 to €49,586
- Other debts +€43,775
up €43,775 (+181%), from €24,225 to €68,000
- Tax, wage and social debts +€6,436
up €6,436 (+80.7%), from €7,971 to €14,407
- Short-term financial debts +€2,078
up €2,078 (+416%), from €499 to €2,577
- Taxes +€19,075
up €19,075, from -€584 to €18,491
- Gross operating margin +€8,568
up €8,568 (+14.6%), from €58,577 to €67,145
- Depreciation -€1,645
down €1,645 (-8.6%), from €19,018 to €17,374
- Other operating charges -€1,247
down €1,247 (-71.4%), from €1,748 to €500
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 | €153,558 | €155,292 | +€1,734 | +1.1% |
| Fixed assets | 21/28 | €58,623 | €44,271 | -€14,352 | -24.5% |
| Tangible fixed assets | 22/27 | €58,623 | €44,271 | -€14,352 | -24.5% |
| Plant, machinery and equipment | 23 | €17,705 | €14,374 | -€3,331 | -18.8% |
| Furniture and vehicles | 24 | €40,918 | €29,897 | -€11,021 | -26.9% |
| Current assets | 29/58 | €94,935 | €111,021 | +€16,086 | +16.9% |
| Amounts receivable within one year | 40/41 | €38,305 | €39,396 | +€1,091 | +2.8% |
| Trade receivables | 40 | €38,305 | €36,396 | -€1,909 | -5.0% |
| Other amounts receivable | 41 | - | €3,000 | +€3,000 | |
| Cash at bank and in hand | 54/58 | €54,799 | €69,722 | +€14,923 | +27.2% |
| Deferred charges and accrued income | 490/1 | €1,831 | €1,904 | +€72 | +4.0% |
| Total equity and liabilities | 10/49 | €153,558 | €155,292 | +€1,734 | +1.1% |
| Equity | 10/15 | €119,569 | €70,046 | -€49,523 | -41.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,109 | €49,586 | -€49,523 | -50.0% |
| Amounts payable | 17/49 | €33,989 | €85,246 | +€51,257 | +151% |
| Amounts payable within one year | 42/48 | €33,989 | €85,246 | +€51,257 | +151% |
| Financial debts | 43 | €499 | €2,577 | +€2,078 | +416% |
| Credit institutions | 430/8 | €499 | €2,577 | +€2,078 | +416% |
| Trade debts | 44 | €1,294 | €262 | -€1,032 | -79.8% |
| Suppliers | 440/4 | €1,294 | €262 | -€1,032 | -79.8% |
| Taxes, remuneration and social security | 45 | €7,971 | €14,407 | +€6,436 | +80.7% |
| Taxes | 450/3 | €7,971 | €14,407 | +€6,436 | +80.7% |
| Other amounts payable | 47/48 | €24,225 | €68,000 | +€43,775 | +181% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,018 | €17,374 | -€1,645 | -8.6% |
| Other operating charges | 640/8 | €1,748 | €500 | -€1,247 | -71.4% |
| Gross operating margin | 9900 | €58,577 | €67,145 | +€8,568 | +14.6% |
| Operating profit (loss) | 9901 | €37,811 | €49,271 | +€11,460 | +30.3% |
| Financial charges | 65/66B | €475 | €304 | -€172 | -36.1% |
| Recurring financial charges | 65 | €475 | €304 | -€172 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | €37,336 | €48,968 | +€11,632 | +31.2% |
| Income taxes | 67/77 | -€584 | €18,491 | +€19,075 | |
| Profit (loss) for the period | 9904 | €37,920 | €30,477 | -€7,443 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,920 | €30,477 | -€7,443 | -19.6% |
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 26 October 2026 via checked.be.