Keyrus GEP: 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.
Keyrus GEP
Largest movements
- Receivables within one year +€1.9m
up €1.9m (+34.7%), from €5.6m to €7.5m
of which Other amounts receivable: +€1.9m
- Cash +€723,725
up €723,725 (+771%), from €93,910 to €817,635
mainly Short-term financial debts (+€1.7m) and Other debts (+€531,393)
- Short-term financial debts +€1.7m
up €1.7m (+517%), from €324,943 to €2.0m
- Other debts +€531,393
up €531,393 (+12.7%), from €4.2m to €4.7m
- Accrued charges and deferred income +€378,794
new in 2025: €378,794
- Trade debts +€306,691
up €306,691 (+158%), from €194,571 to €501,262
- Profit (loss) carried forward -€247,396
down €247,396 (-21.0%), from -€1.2m to -€1.4m
- Other operating income +€224,133
up €224,133 (+61.2%), from €365,959 to €590,092
- Services and other goods +€88,434
up €88,434 (+17.0%), from €521,190 to €609,624
- Financial charges -€54,154
down €54,154 (-16.4%), from €329,589 to €275,435
- Turnover +€47,990
up €47,990 (+13.7%), from €349,346 to €397,336
- Goods and materials +€35,914
up €35,914 (+11.4%), from €315,509 to €351,423
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 | €16,775,212 | €19,439,686 | +€2.7m | +15.9% |
| Fixed assets | 21/28 | €11,083,339 | €11,082,821 | -€518 | 0.0% |
| Tangible fixed assets | 22/27 | €863 | €345 | -€518 | -60.0% |
| Plant, machinery and equipment | 23 | €863 | €345 | -€518 | -60.0% |
| Financial fixed assets | 28 | €11,082,476 | €11,082,476 | = | 0.0% |
| Affiliated companies | 280/1 | €11,082,476 | €11,082,476 | = | 0.0% |
| Participating interests | 280 | €11,082,476 | €11,082,476 | = | 0.0% |
| Current assets | 29/58 | €5,691,874 | €8,356,865 | +€2.7m | +46.8% |
| Amounts receivable within one year | 40/41 | €5,597,964 | €7,539,230 | +€1.9m | +34.7% |
| Trade receivables | 40 | €209,039 | €202,570 | -€6,469 | -3.1% |
| Other amounts receivable | 41 | €5,388,925 | €7,336,660 | +€1.9m | +36.1% |
| Cash at bank and in hand | 54/58 | €93,910 | €817,635 | +€723,725 | +771% |
| Total equity and liabilities | 10/49 | €16,775,212 | €19,439,686 | +€2.7m | +15.9% |
| Equity | 10/15 | €12,079,298 | €11,831,901 | -€247,396 | -2.0% |
| Contributions | 10/11 | €13,254,789 | €13,254,789 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,175,491 | -€1,422,888 | -€247,396 | -21.0% |
| Amounts payable | 17/49 | €4,695,914 | €7,607,784 | +€2.9m | +62.0% |
| Amounts payable within one year | 42/48 | €4,695,914 | €7,228,990 | +€2.5m | +53.9% |
| Financial debts | 43 | €324,943 | €2,003,935 | +€1.7m | +517% |
| Credit institutions | 430/8 | €324,943 | €2,003,935 | +€1.7m | +517% |
| Trade debts | 44 | €194,571 | €501,262 | +€306,691 | +158% |
| Suppliers | 440/4 | €194,571 | €501,262 | +€306,691 | +158% |
| Taxes, remuneration and social security | 45 | €8,000 | €24,000 | +€16,000 | +200% |
| Remuneration and social security | 454/9 | €8,000 | €24,000 | +€16,000 | +200% |
| Other amounts payable | 47/48 | €4,168,401 | €4,699,794 | +€531,393 | +12.7% |
| Accrued charges and deferred income | 492/3 | - | €378,794 | +€378,794 | |
| Operating income | 70/76A | €715,304 | €987,428 | +€272,123 | +38.0% |
| Turnover | 70 | €349,346 | €397,336 | +€47,990 | +13.7% |
| Other operating income | 74 | €365,959 | €590,092 | +€224,133 | +61.2% |
| Operating charges | 60/66A | €838,861 | €1,241,200 | +€402,339 | +48.0% |
| Goods for resale, raw materials and consumables | 60 | €315,509 | €351,423 | +€35,914 | +11.4% |
| Purchases | 600/8 | €315,509 | €351,423 | +€35,914 | +11.4% |
| Services and other goods | 61 | €521,190 | €609,624 | +€88,434 | +17.0% |
| Remuneration, social security and pensions | 62 | €1,282 | - | -€1,282 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €518 | €518 | = | 0.0% |
| Other operating charges | 640/8 | €362 | €181 | -€181 | -50.1% |
| Non-recurring operating charges | 66A | - | €279,455 | +€279,455 | |
| Operating profit (loss) | 9901 | -€123,556 | -€253,773 | -€130,216 | -105% |
| Financial income | 75/76B | €303,887 | €281,811 | -€22,077 | -7.3% |
| Recurring financial income | 75 | €303,887 | €281,811 | -€22,077 | -7.3% |
| Income from current assets | 751 | €283,621 | €281,791 | -€1,830 | -0.6% |
| Other financial income | 752/9 | €20,266 | €20 | -€20,246 | -99.9% |
| Financial charges | 65/66B | €329,589 | €275,435 | -€54,154 | -16.4% |
| Recurring financial charges | 65 | €329,589 | €275,435 | -€54,154 | -16.4% |
| Debt charges | 650 | €224,996 | €224,237 | -€758 | -0.3% |
| Other financial charges | 652/9 | €104,593 | €51,197 | -€53,396 | -51.1% |
| Profit (loss) for the period before taxes | 9903 | -€149,258 | -€247,396 | -€98,139 | -65.8% |
| Profit (loss) for the period | 9904 | -€149,258 | -€247,396 | -€98,139 | -65.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€149,258 | -€247,396 | -€98,139 | -65.8% |
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 17 October 2026 via checked.be.