Keystone Advisory: 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.
Keystone Advisory
Largest movements
- Current investments +€40,110
up €40,110 (+802%), from €5,000 to €45,110
- Stocks and contracts +€11,568
new in 2025: €11,568
- Tangible fixed assets +€4,794
new in 2025: €4,794
- Cash -€3,522
down €3,522 (-57.7%), from €6,099 to €2,578
mainly Current investments (-€40,110) and Stocks and contracts (-€11,568)
- Profit (loss) carried forward +€53,018
up €53,018 (+282%), from €18,774 to €71,792
- Tax, wage and social debts -€4,079
down €4,079 (-34.0%), from €12,003 to €7,925
- Other debts +€3,607
new in 2025: €3,607
- Gross operating margin +€48,246
up €48,246 (+200%), from €24,109 to €72,355
- Taxes +€10,203
up €10,203 (+180%), from €5,669 to €15,873
- Financial charges +€2,250
up €2,250 (+7,657%), from €29 to €2,280
- Other operating charges +€795
new in 2025: €795
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 | €34,173 | €86,685 | +€52,512 | +154% |
| Fixed assets | 21/28 | - | €4,794 | +€4,794 | |
| Tangible fixed assets | 22/27 | - | €4,794 | +€4,794 | |
| Furniture and vehicles | 24 | - | €4,794 | +€4,794 | |
| Current assets | 29/58 | €34,173 | €81,891 | +€47,718 | +140% |
| Stocks and contracts in progress | 3 | - | €11,568 | +€11,568 | |
| Stocks | 30/36 | - | €11,568 | +€11,568 | |
| Amounts receivable within one year | 40/41 | €23,056 | €22,636 | -€420 | -1.8% |
| Trade receivables | 40 | €20,511 | €22,636 | +€2,125 | +10.4% |
| Other amounts receivable | 41 | €2,545 | - | -€2,545 | |
| Current investments | 50/53 | €5,000 | €45,110 | +€40,110 | +802% |
| Cash at bank and in hand | 54/58 | €6,099 | €2,578 | -€3,522 | -57.7% |
| Deferred charges and accrued income | 490/1 | €18 | - | -€18 | |
| Total equity and liabilities | 10/49 | €34,173 | €86,685 | +€52,512 | +154% |
| Equity | 10/15 | €21,774 | €74,792 | +€53,018 | +243% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,774 | €71,792 | +€53,018 | +282% |
| Amounts payable | 17/49 | €12,400 | €11,894 | -€506 | -4.1% |
| Amounts payable within one year | 42/48 | €12,400 | €11,894 | -€506 | -4.1% |
| Trade debts | 44 | €396 | €362 | -€34 | -8.6% |
| Suppliers | 440/4 | €396 | €362 | -€34 | -8.6% |
| Taxes, remuneration and social security | 45 | €12,003 | €7,925 | -€4,079 | -34.0% |
| Taxes | 450/3 | €12,003 | €7,925 | -€4,079 | -34.0% |
| Other amounts payable | 47/48 | - | €3,607 | +€3,607 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €548 | +€548 | |
| Other operating charges | 640/8 | - | €795 | +€795 | |
| Gross operating margin | 9900 | €24,109 | €72,355 | +€48,246 | +200% |
| Operating profit (loss) | 9901 | €24,109 | €71,012 | +€46,903 | +195% |
| Financial income | 75/76B | €364 | €159 | -€205 | -56.3% |
| Recurring financial income | 75 | €364 | €159 | -€205 | -56.3% |
| Financial charges | 65/66B | €29 | €2,280 | +€2,250 | +7,657% |
| Recurring financial charges | 65 | €29 | €2,280 | +€2,250 | +7,657% |
| Profit (loss) for the period before taxes | 9903 | €24,443 | €68,891 | +€44,448 | +182% |
| Income taxes | 67/77 | €5,669 | €15,873 | +€10,203 | +180% |
| Profit (loss) for the period | 9904 | €18,774 | €53,018 | +€34,245 | +182% |
| Profit (loss) for the period to be appropriated | 9905 | €18,774 | €53,018 | +€34,245 | +182% |
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 19 October 2026 via checked.be.