KEYSER SOZE: 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.
KEYSER SOZE
Largest movements
- Receivables within one year +€13,802
up €13,802 (+436%), from €3,169 to €16,971
of which Trade receivables: +€15,753
- Tangible fixed assets -€12,522
down €12,522 (-29.2%), from €42,947 to €30,425
of which Leasing and similar rights: -€9,690
- Cash -€5,961
down €5,961 (-79.9%), from €7,463 to €1,502
mainly Net result for the year (-€24,288) and Receivables within one year (-€13,802)
- Deferred charges and accrued income -€2,602
down €2,602 (-50.3%), from €5,173 to €2,571
- Profit (loss) carried forward -€24,288
down €24,288 (-55.2%), from -€44,012 to -€68,300
- Other debts +€23,549
up €23,549 (+43.3%), from €54,439 to €77,987
- Debts after one year -€9,541
down €9,541 (-56.7%), from €16,817 to €7,276
- Trade debts +€1,945
up €1,945 (+95.1%), from €2,045 to €3,990
- Tax, wage and social debts +€1,112
up €1,112 (+374%), from €298 to €1,409
- Gross operating margin +€22,724
up €22,724 (+78.3%), from -€29,010 to -€6,286
- Financial income -€2,403
down €2,403 (-99.9%), from €2,406 to €3
- Financial charges -€691
down €691 (-18.8%), from €3,680 to €2,989
- Other operating charges +€394
up €394 (+27.2%), from €1,447 to €1,842
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 | €58,753 | €51,470 | -€7,282 | -12.4% |
| Fixed assets | 21/28 | €42,947 | €30,425 | -€12,522 | -29.2% |
| Tangible fixed assets | 22/27 | €42,947 | €30,425 | -€12,522 | -29.2% |
| Furniture and vehicles | 24 | €6,975 | €4,143 | -€2,832 | -40.6% |
| Leasing and similar rights | 25 | €35,972 | €26,282 | -€9,690 | -26.9% |
| Current assets | 29/58 | €15,805 | €21,045 | +€5,240 | +33.2% |
| Amounts receivable within one year | 40/41 | €3,169 | €16,971 | +€13,802 | +436% |
| Trade receivables | 40 | €1,218 | €16,971 | +€15,753 | +1,293% |
| Other amounts receivable | 41 | €1,951 | - | -€1,951 | |
| Cash at bank and in hand | 54/58 | €7,463 | €1,502 | -€5,961 | -79.9% |
| Deferred charges and accrued income | 490/1 | €5,173 | €2,571 | -€2,602 | -50.3% |
| Total equity and liabilities | 10/49 | €58,753 | €51,470 | -€7,282 | -12.4% |
| Equity | 10/15 | -€23,552 | -€47,840 | -€24,288 | -103% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,012 | -€68,300 | -€24,288 | -55.2% |
| Amounts payable | 17/49 | €82,305 | €99,310 | +€17,006 | +20.7% |
| Amounts payable after more than one year | 17 | €16,817 | €7,276 | -€9,541 | -56.7% |
| Financial debts | 170/4 | €16,817 | €7,276 | -€9,541 | -56.7% |
| Amounts payable within one year | 42/48 | €65,488 | €92,035 | +€26,547 | +40.5% |
| Current portion of amounts payable after more than one year | 42 | €8,707 | €8,648 | -€59 | -0.7% |
| Trade debts | 44 | €2,045 | €3,990 | +€1,945 | +95.1% |
| Suppliers | 440/4 | €2,045 | €3,990 | +€1,945 | +95.1% |
| Taxes, remuneration and social security | 45 | €298 | €1,409 | +€1,112 | +374% |
| Taxes | 450/3 | €298 | €1,409 | +€1,112 | +374% |
| Other amounts payable | 47/48 | €54,439 | €77,987 | +€23,549 | +43.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,889 | €12,960 | +€70 | +0.5% |
| Other operating charges | 640/8 | €1,447 | €1,842 | +€394 | +27.2% |
| Gross operating margin | 9900 | -€29,010 | -€6,286 | +€22,724 | +78.3% |
| Operating profit (loss) | 9901 | -€43,347 | -€21,087 | +€22,260 | +51.4% |
| Financial income | 75/76B | €2,406 | €3 | -€2,403 | -99.9% |
| Recurring financial income | 75 | €2,406 | €3 | -€2,403 | -99.9% |
| Financial charges | 65/66B | €3,680 | €2,989 | -€691 | -18.8% |
| Recurring financial charges | 65 | €3,680 | €2,989 | -€691 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | -€44,621 | -€24,073 | +€20,548 | +46.0% |
| Income taxes | 67/77 | €234 | €215 | -€19 | -8.1% |
| Profit (loss) for the period | 9904 | -€44,854 | -€24,288 | +€20,566 | +45.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,854 | -€24,288 | +€20,566 | +45.9% |
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 24 October 2026 via checked.be.