KEYSERS: what changed
Two fiscal 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.
KEYSERS
Largest movements
- Cash -€302,127
down €302,127 (-75.3%), from €401,029 to €98,902
mainly Debts after one year (-€2.2m) and Receivables within one year (-€246,407)
- Receivables within one year +€246,407
up €246,407 (+96.7%), from €254,767 to €501,174
of which Trade receivables: +€223,173
- Tangible fixed assets -€172,165
down €172,165 (-6.2%), from €2.8m to €2.6m
of which Land and buildings: -€141,402
- Debts after one year -€2.2m
down €2.2m (-100.0%), from €2.2m to €0
- Other debts +€1.6m
up €1.6m (+787.5%), from €204,157 to €1.8m
- Reserves +€370,727
up €370,727 (+43.9%), from €844,672 to €1.2m
- Current portion of long-term debt -€152,142
down €152,142 (-100.0%), from €152,142 to €0
- Trade debts +€130,667
up €130,667 (+223.4%), from €58,484 to €189,152
- Gross operating margin +€94,698
up €94,698 (+11.0%), from €861,813 to €956,511
- Taxes +€24,283
up €24,283 (+15.2%), from €160,057 to €184,340
- Depreciation +€17,732
up €17,732 (+7.5%), from €236,933 to €254,665
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,644,353 | €3,395,122 | -€249,230 | -6.8% |
| Fixed assets | 21/28 | €2,762,214 | €2,590,049 | -€172,165 | -6.2% |
| Tangible fixed assets | 22/27 | €2,762,214 | €2,590,049 | -€172,165 | -6.2% |
| Land and buildings | 22 | €2,443,550 | €2,302,148 | -€141,402 | -5.8% |
| Plant, machinery and equipment | 23 | €221,098 | €233,035 | +€11,937 | +5.4% |
| Leasing and similar rights | 25 | €97,567 | €54,867 | -€42,700 | -43.8% |
| Current assets | 29/58 | €882,138 | €805,073 | -€77,065 | -8.7% |
| Stocks and contracts in progress | 3 | €219,680 | €197,670 | -€22,010 | -10.0% |
| Stocks | 30/36 | €219,680 | €197,670 | -€22,010 | -10.0% |
| Amounts receivable within one year | 40/41 | €254,767 | €501,174 | +€246,407 | +96.7% |
| Trade receivables | 40 | €251,832 | €475,004 | +€223,173 | +88.6% |
| Other amounts receivable | 41 | €2,935 | €26,169 | +€23,234 | +791.6% |
| Cash at bank and in hand | 54/58 | €401,029 | €98,902 | -€302,127 | -75.3% |
| Deferred charges and accrued income | 490/1 | €6,663 | €7,327 | +€665 | +10.0% |
| Total equity and liabilities | 10/49 | €3,644,353 | €3,395,122 | -€249,230 | -6.8% |
| Equity | 10/15 | €863,272 | €1,233,999 | +€370,727 | +42.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €844,672 | €1,215,399 | +€370,727 | +43.9% |
| Distributable reserves | 133 | €844,672 | €1,215,399 | +€370,727 | +43.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,781,081 | €2,161,124 | -€619,957 | -22.3% |
| Amounts payable after more than one year | 17 | €2,200,698 | €0 | -€2.2m | -100.0% |
| Financial debts | 170/4 | €2,200,698 | €0 | -€2.2m | -100.0% |
| Amounts payable within one year | 42/48 | €580,383 | €2,161,124 | +€1.6m | +272.4% |
| Current portion of amounts payable after more than one year | 42 | €152,142 | €0 | -€152,142 | -100.0% |
| Trade debts | 44 | €58,484 | €189,152 | +€130,667 | +223.4% |
| Suppliers | 440/4 | €58,484 | €189,152 | +€130,667 | +223.4% |
| Taxes, remuneration and social security | 45 | €165,599 | €160,057 | -€5,542 | -3.3% |
| Taxes | 450/3 | €165,599 | €160,057 | -€5,542 | -3.3% |
| Other amounts payable | 47/48 | €204,157 | €1,811,916 | +€1.6m | +787.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €236,933 | €254,665 | +€17,732 | +7.5% |
| Other operating charges | 640/8 | €4,576 | €4,957 | +€381 | +8.3% |
| Gross operating margin | 9900 | €861,813 | €956,511 | +€94,698 | +11.0% |
| Operating profit (loss) | 9901 | €620,304 | €696,889 | +€76,585 | +12.3% |
| Financial income | 75/76B | €630 | €0 | -€630 | -100.0% |
| Recurring financial income | 75 | €630 | €0 | -€630 | -100.0% |
| Financial charges | 65/66B | €94,437 | €98,555 | +€4,118 | +4.4% |
| Recurring financial charges | 65 | €94,437 | €98,555 | +€4,118 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €526,497 | €598,335 | +€71,837 | +13.6% |
| Income taxes | 67/77 | €160,057 | €184,340 | +€24,283 | +15.2% |
| Profit (loss) for the period | 9904 | €366,440 | €413,995 | +€47,554 | +13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €366,440 | €413,995 | +€47,554 | +13.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.