Keyrus Business Transformation: what changed
Keyrus Business Transformation
Largest movements
- Cash -€548,978
down €548,978 (-50.0%), from €1.1m to €548,729
mainly Current investments (-€500,000) and Contributions, distributions and other (-€83,875)
- Current investments +€500,000
up €500,000 (+144%), from €346,160 to €846,160
- Receivables within one year -€40,144
down €40,144 (-10.3%), from €389,051 to €348,907
of which Trade receivables: -€75,450
- Reserves +€124,318
up €124,318 (+9.7%), from €1.3m to €1.4m
of which Distributable reserves: +€124,318
- Other debts -€78,191
down €78,191 (-49.5%), from €157,872 to €79,681
- Trade debts -€59,962
down €59,962 (-20.2%), from €297,249 to €237,287
- Tax, wage and social debts -€58,349
down €58,349 (-87.2%), from €66,936 to €8,588
of which Taxes: -€51,044
- Gross operating margin -€89,686
down €89,686 (-19.1%), from €469,384 to €379,698
- Taxes -€77,458
down €77,458 (-52.1%), from €148,803 to €71,345
- Staff costs +€19,719
up €19,719 (+25.8%), from €76,507 to €96,226
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,839,876 | €1,749,321 | -€90,555 | -4.9% |
| Fixed assets | 21/28 | €5,853 | €2,567 | -€3,287 | -56.1% |
| Intangible fixed assets | 21 | €5,853 | €2,567 | -€3,287 | -56.1% |
| Current assets | 29/58 | €1,834,022 | €1,746,754 | -€87,268 | -4.8% |
| Amounts receivable within one year | 40/41 | €389,051 | €348,907 | -€40,144 | -10.3% |
| Trade receivables | 40 | €342,938 | €267,488 | -€75,450 | -22.0% |
| Other amounts receivable | 41 | €46,113 | €81,419 | +€35,306 | +76.6% |
| Current investments | 50/53 | €346,160 | €846,160 | +€500,000 | +144% |
| Cash at bank and in hand | 54/58 | €1,097,707 | €548,729 | -€548,978 | -50.0% |
| Deferred charges and accrued income | 490/1 | €1,105 | €2,958 | +€1,853 | +168% |
| Total equity and liabilities | 10/49 | €1,839,876 | €1,749,321 | -€90,555 | -4.9% |
| Equity | 10/15 | €1,299,447 | €1,423,765 | +€124,318 | +9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,280,847 | €1,405,165 | +€124,318 | +9.7% |
| Non-distributable reserves | 130/1 | €348,020 | €348,020 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Own shares acquired | 1312 | €346,160 | €346,160 | = | 0.0% |
| Distributable reserves | 133 | €932,827 | €1,057,145 | +€124,318 | +13.3% |
| Amounts payable | 17/49 | €540,429 | €325,556 | -€214,873 | -39.8% |
| Amounts payable within one year | 42/48 | €540,429 | €325,556 | -€214,873 | -39.8% |
| Trade debts | 44 | €297,249 | €237,287 | -€59,962 | -20.2% |
| Suppliers | 440/4 | €297,249 | €237,287 | -€59,962 | -20.2% |
| Advances received on contracts in progress | 46 | €18,372 | - | -€18,372 | |
| Taxes, remuneration and social security | 45 | €66,936 | €8,588 | -€58,349 | -87.2% |
| Taxes | 450/3 | €56,583 | €5,539 | -€51,044 | -90.2% |
| Remuneration and social security | 454/9 | €10,354 | €3,049 | -€7,305 | -70.6% |
| Other amounts payable | 47/48 | €157,872 | €79,681 | -€78,191 | -49.5% |
| Remuneration, social security and pensions | 62 | €76,507 | €96,226 | +€19,719 | +25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,287 | €3,287 | = | 0.0% |
| Other operating charges | 640/8 | €960 | €968 | +€7 | +0.8% |
| Gross operating margin | 9900 | €469,384 | €379,698 | -€89,686 | -19.1% |
| Operating profit (loss) | 9901 | €388,629 | €279,217 | -€109,412 | -28.2% |
| Financial income | 75/76B | €2,111 | €2,245 | +€134 | +6.4% |
| Recurring financial income | 75 | €2,111 | €2,245 | +€134 | +6.4% |
| Financial charges | 65/66B | €1,715 | €1,925 | +€210 | +12.2% |
| Recurring financial charges | 65 | €1,715 | €1,925 | +€210 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €389,026 | €279,538 | -€109,488 | -28.1% |
| Income taxes | 67/77 | €148,803 | €71,345 | -€77,458 | -52.1% |
| Profit (loss) for the period | 9904 | €240,223 | €208,193 | -€32,030 | -13.3% |
| Transfer from tax-exempt reserves | 789 | €258,360 | - | -€258,360 | |
| Profit (loss) for the period to be appropriated | 9905 | €498,583 | €208,193 | -€290,390 | -58.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.