KEYTRUST: 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.
KEYTRUST
Largest movements
- Cash +€1.9m
up €1.9m (+57,225%), from €3,307 to €1.9m
mainly Net result for the year (+€1.8m) and Accrued charges and deferred income (+€581,572)
- Receivables after one year +€802,057
new in 2025: €802,057
- Financial fixed assets -€485,165
down €485,165 (-44.2%), from €1.1m to €612,500
- Receivables within one year +€158,732
up €158,732 (+3,443%), from €4,610 to €163,342
- Reserves +€1.5m
up €1.5m (+332%), from €451,500 to €2.0m
of which Distributable reserves: +€1.5m
- Accrued charges and deferred income +€581,572
up €581,572 (+5,249%), from €11,079 to €592,651
- Other debts +€300,000
up €300,000 (+20,000%), from €1,500 to €301,500
- Financial income +€1.3m
up €1.3m (+254%), from €519,592 to €1.8m
- Taxes -€4,257
no longer reported in 2025 (was €4,257)
- Financial charges -€1,339
down €1,339 (-4.9%), from €27,459 to €26,121
- Gross operating margin +€837
up €837 (+24.3%), from -€3,442 to -€2,604
- Other operating charges -€221
down €221 (-32.5%), from €681 to €459
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 | €1,105,582 | €3,473,538 | +€2.4m | +214% |
| Fixed assets | 21/28 | €1,097,665 | €612,500 | -€485,165 | -44.2% |
| Financial fixed assets | 28 | €1,097,665 | €612,500 | -€485,165 | -44.2% |
| Current assets | 29/58 | €7,917 | €2,861,038 | +€2.9m | +36,038% |
| Amounts receivable after more than one year | 29 | - | €802,057 | +€802,057 | |
| Other amounts receivable | 291 | - | €802,057 | +€802,057 | |
| Amounts receivable within one year | 40/41 | €4,610 | €163,342 | +€158,732 | +3,443% |
| Other amounts receivable | 41 | €4,610 | €163,342 | +€158,732 | +3,443% |
| Cash at bank and in hand | 54/58 | €3,307 | €1,895,639 | +€1.9m | +57,225% |
| Total equity and liabilities | 10/49 | €1,105,582 | €3,473,538 | +€2.4m | +214% |
| Equity | 10/15 | €483,428 | €1,992,842 | +€1.5m | +312% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €451,500 | €1,951,500 | +€1.5m | +332% |
| Tax-exempt reserves | 132 | €451,500 | €451,500 | = | 0.0% |
| Distributable reserves | 133 | - | €1,500,000 | +€1.5m | |
| Profit (loss) carried forward | 14 | €13,328 | €22,742 | +€9,414 | +70.6% |
| Amounts payable | 17/49 | €622,153 | €1,480,696 | +€858,542 | +138% |
| Amounts payable after more than one year | 17 | €609,575 | €586,545 | -€23,030 | -3.8% |
| Financial debts | 170/4 | €609,575 | €586,545 | -€23,030 | -3.8% |
| Amounts payable within one year | 42/48 | €1,500 | €301,500 | +€300,000 | +20,000% |
| Other amounts payable | 47/48 | €1,500 | €301,500 | +€300,000 | +20,000% |
| Accrued charges and deferred income | 492/3 | €11,079 | €592,651 | +€581,572 | +5,249% |
| Other operating charges | 640/8 | €681 | €459 | -€221 | -32.5% |
| Gross operating margin | 9900 | -€3,442 | -€2,604 | +€837 | +24.3% |
| Operating profit (loss) | 9901 | -€4,122 | -€3,064 | +€1,059 | +25.7% |
| Financial income | 75/76B | €519,592 | €1,838,598 | +€1.3m | +254% |
| Recurring financial income | 75 | €519,592 | €1,838,598 | +€1.3m | +254% |
| Financial charges | 65/66B | €27,459 | €26,121 | -€1,339 | -4.9% |
| Recurring financial charges | 65 | €27,459 | €26,121 | -€1,339 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €488,011 | €1,809,414 | +€1.3m | +271% |
| Income taxes | 67/77 | €4,257 | - | -€4,257 | |
| Profit (loss) for the period | 9904 | €483,754 | €1,809,414 | +€1.3m | +274% |
| Transfer from tax-exempt reserves | 789 | €64,500 | - | -€64,500 | |
| Transfer to tax-exempt reserves | 689 | €516,000 | - | -€516,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,254 | €1,809,414 | +€1.8m | +5,510% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.