Keystone2S: 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.
Keystone2S
Largest movements
- Cash +€51,204
up €51,204 (+100.0%), from €51,203 to €102,407
mainly Net result for the year (+€54,362) and Receivables within one year (+€2,885)
- Receivables within one year -€2,885
down €2,885 (-10.5%), from €27,551 to €24,666
of which Trade receivables: -€1,828
- Tangible fixed assets -€2,826
down €2,826 (-50.0%), from €5,652 to €2,826
- Reserves +€55,000
up €55,000 (+111.4%), from €49,381 to €104,381
- Other debts -€8,504
down €8,504 (-75.7%), from €11,238 to €2,734
- Gross operating margin +€99,955
up €99,955, from -€35,825 to €64,130
- Taxes +€5,222
up €5,222 (+3890.7%), from €134 to €5,356
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.
Cash bridge derived
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 | €85,577 | €130,516 | +€44,940 | +52.5% |
| Fixed assets | 21/28 | €5,652 | €2,826 | -€2,826 | -50.0% |
| Tangible fixed assets | 22/27 | €5,652 | €2,826 | -€2,826 | -50.0% |
| Furniture and vehicles | 24 | €5,652 | €2,826 | -€2,826 | -50.0% |
| Current assets | 29/58 | €79,924 | €127,690 | +€47,765 | +59.8% |
| Stocks and contracts in progress | 3 | €869 | €139 | -€730 | -84.0% |
| Stocks | 30/36 | €869 | €139 | -€730 | -84.0% |
| Amounts receivable within one year | 40/41 | €27,551 | €24,666 | -€2,885 | -10.5% |
| Trade receivables | 40 | €15,985 | €14,157 | -€1,828 | -11.4% |
| Other amounts receivable | 41 | €11,566 | €10,509 | -€1,056 | -9.1% |
| Cash at bank and in hand | 54/58 | €51,203 | €102,407 | +€51,204 | +100.0% |
| Deferred charges and accrued income | 490/1 | €302 | €478 | +€176 | +58.4% |
| Total equity and liabilities | 10/49 | €85,577 | €130,516 | +€44,940 | +52.5% |
| Equity | 10/15 | €68,768 | €123,131 | +€54,362 | +79.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,381 | €104,381 | +€55,000 | +111.4% |
| Distributable reserves | 133 | €49,381 | €104,381 | +€55,000 | +111.4% |
| Profit (loss) carried forward | 14 | €787 | €149 | -€638 | -81.0% |
| Amounts payable | 17/49 | €16,808 | €7,386 | -€9,422 | -56.1% |
| Amounts payable within one year | 42/48 | €16,808 | €7,386 | -€9,422 | -56.1% |
| Trade debts | 44 | €672 | €948 | +€276 | +41.0% |
| Suppliers | 440/4 | €672 | €948 | +€276 | +41.0% |
| Taxes, remuneration and social security | 45 | €4,898 | €3,704 | -€1,193 | -24.4% |
| Taxes | 450/3 | €4,898 | €3,704 | -€1,193 | -24.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €11,238 | €2,734 | -€8,504 | -75.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,957 | €2,826 | -€131 | -4.4% |
| Other operating charges | 640/8 | €751 | €725 | -€27 | -3.5% |
| Gross operating margin | 9900 | -€35,825 | €64,130 | +€99,955 | |
| Operating profit (loss) | 9901 | -€39,534 | €60,580 | +€100,113 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €951 | €861 | -€90 | -9.5% |
| Recurring financial charges | 65 | €951 | €861 | -€90 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | -€40,485 | €59,719 | +€100,203 | |
| Income taxes | 67/77 | €134 | €5,356 | +€5,222 | +3890.7% |
| Profit (loss) for the period | 9904 | -€40,619 | €54,362 | +€94,981 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,619 | €54,362 | +€94,981 |
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 10 October 2026 via checked.be.