Keystone Technologies: 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 Technologies
Largest movements
- Stocks and contracts -€28,773
down €28,773 (-55.5%), from €51,830 to €23,057
- Receivables within one year +€24,508
up €24,508 (+60.4%), from €40,580 to €65,088
of which Trade receivables: +€14,711
- Intangible fixed assets +€7,164
new in 2025: €7,164
- Tangible fixed assets -€6,719
down €6,719 (-24.0%), from €27,944 to €21,225
of which Furniture and vehicles: -€4,406
- Deferred charges and accrued income -€5,975
down €5,975 (-98.4%), from €6,074 to €99
- Trade debts -€8,049
down €8,049 (-75.0%), from €10,732 to €2,683
- Tax, wage and social debts +€7,471
up €7,471 (+113%), from €6,632 to €14,104
- Short-term financial debts -€4,926
down €4,926 (-51.6%), from €9,548 to €4,622
- Gross operating margin -€6,167
down €6,167 (-22.2%), from €27,765 to €21,599
- Depreciation +€5,231
up €5,231 (+78.5%), from €6,662 to €11,893
- Taxes -€3,532
down €3,532 (-45.2%), from €7,817 to €4,285
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 | €126,776 | €118,082 | -€8,694 | -6.9% |
| Fixed assets | 21/28 | €27,944 | €28,389 | +€445 | +1.6% |
| Intangible fixed assets | 21 | - | €7,164 | +€7,164 | |
| Tangible fixed assets | 22/27 | €27,944 | €21,225 | -€6,719 | -24.0% |
| Plant, machinery and equipment | 23 | €15,921 | €13,926 | -€1,995 | -12.5% |
| Furniture and vehicles | 24 | €11,506 | €7,100 | -€4,406 | -38.3% |
| Other tangible fixed assets | 26 | €517 | €199 | -€318 | -61.4% |
| Current assets | 29/58 | €98,832 | €89,694 | -€9,139 | -9.2% |
| Stocks and contracts in progress | 3 | €51,830 | €23,057 | -€28,773 | -55.5% |
| Contracts in progress | 37 | €51,830 | €23,057 | -€28,773 | -55.5% |
| Amounts receivable within one year | 40/41 | €40,580 | €65,088 | +€24,508 | +60.4% |
| Trade receivables | 40 | €35,874 | €50,585 | +€14,711 | +41.0% |
| Other amounts receivable | 41 | €4,706 | €14,503 | +€9,797 | +208% |
| Cash at bank and in hand | 54/58 | €348 | €1,450 | +€1,102 | +316% |
| Deferred charges and accrued income | 490/1 | €6,074 | €99 | -€5,975 | -98.4% |
| Total equity and liabilities | 10/49 | €126,776 | €118,082 | -€8,694 | -6.9% |
| Equity | 10/15 | €73,007 | €73,054 | +€48 | +0.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €54,457 | €54,504 | +€48 | +0.1% |
| Distributable reserves | 133 | €54,457 | €54,504 | +€48 | +0.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €53,770 | €45,028 | -€8,741 | -16.3% |
| Amounts payable within one year | 42/48 | €51,770 | €44,028 | -€7,741 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €23,673 | €22,621 | -€1,052 | -4.4% |
| Financial debts | 43 | €9,548 | €4,622 | -€4,926 | -51.6% |
| Credit institutions | 430/8 | €9,548 | €4,622 | -€4,926 | -51.6% |
| Trade debts | 44 | €10,732 | €2,683 | -€8,049 | -75.0% |
| Suppliers | 440/4 | €10,732 | €2,683 | -€8,049 | -75.0% |
| Taxes, remuneration and social security | 45 | €6,632 | €14,104 | +€7,471 | +113% |
| Taxes | 450/3 | €6,632 | €14,104 | +€7,471 | +113% |
| Other amounts payable | 47/48 | €1,185 | €0 | -€1,185 | -100% |
| Accrued charges and deferred income | 492/3 | €2,000 | €1,000 | -€1,000 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,662 | €11,893 | +€5,231 | +78.5% |
| Other operating charges | 640/8 | €1,749 | €1,739 | -€10 | -0.6% |
| Gross operating margin | 9900 | €27,765 | €21,599 | -€6,167 | -22.2% |
| Operating profit (loss) | 9901 | €19,355 | €7,967 | -€11,387 | -58.8% |
| Financial income | 75/76B | €117 | €147 | +€30 | +25.5% |
| Recurring financial income | 75 | €117 | €147 | +€30 | +25.5% |
| Financial charges | 65/66B | €3,845 | €3,782 | -€63 | -1.6% |
| Recurring financial charges | 65 | €3,845 | €3,782 | -€63 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €15,627 | €4,333 | -€11,294 | -72.3% |
| Income taxes | 67/77 | €7,817 | €4,285 | -€3,532 | -45.2% |
| Profit (loss) for the period | 9904 | €7,810 | €48 | -€7,762 | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,810 | €48 | -€7,762 | -99.4% |
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 15 October 2026 via checked.be.