KEYTEO: 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.
KEYTEO
Largest movements
- Cash -€112,507
down €112,507 (-31.6%), from €355,822 to €243,315
mainly Net result for the year (-€165,666) and Trade debts (-€15,538)
- Deferred charges and accrued income -€45,553
down €45,553 (-23.3%), from €195,164 to €149,611
- Receivables within one year -€17,352
down €17,352 (-49.9%), from €34,758 to €17,406
of which Other amounts receivable: -€17,352
- Profit (loss) carried forward -€165,666
down €165,666 (-34.6%), from €479,338 to €313,672
- Trade debts -€15,538
down €15,538 (-44.1%), from €35,195 to €19,658
- Financial income -€13,623
no longer reported in 2025 (was €13,623)
- Gross operating margin -€11,029
down €11,029 (-8.4%), from -€131,198 to -€142,226
- Staff costs -€2,776
no longer reported in 2025 (was €2,776)
- Taxes -€1,890
no longer reported in 2025 (was €1,890)
- Other operating charges +€1,672
up €1,672 (+22.5%), from €7,427 to €9,100
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 | €586,348 | €410,852 | -€175,496 | -29.9% |
| Fixed assets | 21/28 | €603 | €520 | -€83 | -13.8% |
| Tangible fixed assets | 22/27 | €333 | €250 | -€83 | -25.0% |
| Furniture and vehicles | 24 | €333 | €250 | -€83 | -25.0% |
| Financial fixed assets | 28 | €271 | €271 | = | 0.0% |
| Current assets | 29/58 | €585,744 | €410,331 | -€175,413 | -29.9% |
| Amounts receivable within one year | 40/41 | €34,758 | €17,406 | -€17,352 | -49.9% |
| Trade receivables | 40 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 41 | €24,758 | €7,406 | -€17,352 | -70.1% |
| Cash at bank and in hand | 54/58 | €355,822 | €243,315 | -€112,507 | -31.6% |
| Deferred charges and accrued income | 490/1 | €195,164 | €149,611 | -€45,553 | -23.3% |
| Total equity and liabilities | 10/49 | €586,348 | €410,852 | -€175,496 | -29.9% |
| Equity | 10/15 | €549,343 | €383,677 | -€165,666 | -30.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €51,455 | €51,455 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €49,600 | €49,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €479,338 | €313,672 | -€165,666 | -34.6% |
| Amounts payable | 17/49 | €37,005 | €27,175 | -€9,830 | -26.6% |
| Amounts payable within one year | 42/48 | €37,005 | €22,278 | -€14,726 | -39.8% |
| Trade debts | 44 | €35,195 | €19,658 | -€15,538 | -44.1% |
| Suppliers | 440/4 | €35,195 | €19,658 | -€15,538 | -44.1% |
| Taxes, remuneration and social security | 45 | €1,809 | €2,105 | +€296 | +16.3% |
| Taxes | 450/3 | €1,809 | €2,105 | +€296 | +16.3% |
| Other amounts payable | 47/48 | - | €516 | +€516 | |
| Accrued charges and deferred income | 492/3 | - | €4,897 | +€4,897 | |
| Non-recurring operating income | 76A | €84,988 | - | -€84,988 | |
| Remuneration, social security and pensions | 62 | €2,776 | - | -€2,776 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83 | €83 | +€0 | 0.0% |
| Other operating charges | 640/8 | €7,427 | €9,100 | +€1,672 | +22.5% |
| Non-recurring operating charges | 66A | €10,377 | €11,938 | +€1,561 | +15.0% |
| Gross operating margin | 9900 | -€131,198 | -€142,226 | -€11,029 | -8.4% |
| Operating profit (loss) | 9901 | -€151,861 | -€163,346 | -€11,486 | -7.6% |
| Financial income | 75/76B | €13,623 | - | -€13,623 | |
| Recurring financial income | 75 | €13,623 | - | -€13,623 | |
| Financial charges | 65/66B | €2,940 | €2,320 | -€621 | -21.1% |
| Recurring financial charges | 65 | €2,940 | €2,320 | -€621 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | -€141,178 | -€165,666 | -€24,488 | -17.3% |
| Income taxes | 67/77 | €1,890 | - | -€1,890 | |
| Profit (loss) for the period | 9904 | -€143,068 | -€165,666 | -€22,598 | -15.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€143,068 | -€165,666 | -€22,598 | -15.8% |
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 22 October 2026 via checked.be.