KEYWARE SMART CARD DIVISION: what changed
Two fiscal 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.
What changed
KEYWARE SMART CARD DIVISION
NACE 77.330, Rental and leasing activities
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€372,904
2023 · -€753,242+€1.1m
Equity
€6.1m
2023 · €8.4m-€2.4m
Cash
€1.4m
2023 · €521,760+€867,073
Balance sheet total
€13.6m
2023 · €13.0m+€599,866
Largest movements
Assets
- Cash +€867,073
up €867,073 (+166.2%), from €521,760 to €1.4m
mainly Other debts (+€3.0m) and Depreciation (+€552,961)
- Stocks and contracts -€187,819
down €187,819 (-14.9%), from €1.3m to €1.1m
Equity and liabilities
- Other debts +€3.0m
up €3.0m (+120.6%), from €2.5m to €5.5m
- Profit (loss) carried forward -€2.4m
down €2.4m (-60.8%), from €3.9m to €1.5m
- Trade debts -€257,930
down €257,930 (-22.7%), from €1.1m to €877,313
- Tax, wage and social debts +€136,240
up €136,240 (+47.2%), from €288,566 to €424,807
of which Taxes: +€120,024
Income statement
- Financial charges -€927,356
down €927,356 (-93.2%), from €994,625 to €67,269
- Services and other goods -€574,919
down €574,919 (-17.3%), from €3.3m to €2.7m
- Goods and materials +€565,207
up €565,207 (+59.2%), from €954,809 to €1.5m
of which Change in stocks: decrease (increase): +€1.0m
- Other operating charges -€345,995
down €345,995 (-51.0%), from €678,444 to €332,449
- Write-downs -€222,326
down €222,326 (-53.3%), from €416,980 to €194,654
From the 2023 result to the 2024 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.
Result 2023
-€753,242
Turnover
+€105,989
Other operating income
-€168,702
Goods and materials
-€565,207
Services and other goods
+€574,919
Staff costs
-€196,200
Depreciation
+€7,391
Write-downs
+€222,326
Provisions
-€25,000
Other operating charges
+€345,995
Other operating items
-€11,514
Financial income
+€81,123
Financial charges
+€927,356
Taxes
-€172,331
Result 2024
€372,904
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€4.1m
Investment
-€512,052
Financing
-€2.8m
Cash 2023
€521,760
From operations (derived)
+€4.1m
Net result for the year
+€372,904
Depreciation
+€552,961
Stocks and contracts
+€187,819
Receivables within one year
+€70,429
Deferred charges and accrued income
-€31,950
Provisions
+€25,000
Trade debts
-€257,930
Tax, wage and social debts
+€136,240
Other debts
+€3.0m
Accrued charges and deferred income
+€64,817
Investment (derived)
-€512,052
Investment in fixed assets (net)
-€512,052
Financing
-€2.8m
Current portion of long-term debt
-€14,239
Contributions, distributions and other
-€2.8m
Cash 2024
€1.4m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,972,729 | €13,572,595 | +€599,866 | +4.6% |
| Fixed assets | 21/28 | €1,367,019 | €1,326,109 | -€40,909 | -3.0% |
| Intangible fixed assets | 21 | - | €72,500 | +€72,500 | |
| Tangible fixed assets | 22/27 | €1,344,787 | €1,231,378 | -€113,409 | -8.4% |
| Other tangible fixed assets | 26 | €1,344,787 | €1,231,378 | -€113,409 | -8.4% |
| Financial fixed assets | 28 | €22,231 | €22,231 | = | 0.0% |
| Other financial fixed assets | 284/8 | €22,231 | €22,231 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €22,231 | €22,231 | = | 0.0% |
| Current assets | 29/58 | €11,605,710 | €12,246,486 | +€640,775 | +5.5% |
| Stocks and contracts in progress | 3 | €1,264,666 | €1,076,847 | -€187,819 | -14.9% |
| Stocks | 30/36 | €1,264,666 | €1,076,847 | -€187,819 | -14.9% |
| Goods purchased for resale | 34 | €1,264,666 | €890,997 | -€373,669 | -29.5% |
| Advance payments | 36 | - | €185,850 | +€185,850 | |
| Amounts receivable within one year | 40/41 | €9,816,689 | €9,746,260 | -€70,429 | -0.7% |
| Trade receivables | 40 | €2,012,660 | €2,399,629 | +€386,969 | +19.2% |
| Other amounts receivable | 41 | €7,804,029 | €7,346,630 | -€457,398 | -5.9% |
| Cash at bank and in hand | 54/58 | €521,760 | €1,388,834 | +€867,073 | +166.2% |
| Deferred charges and accrued income | 490/1 | €2,595 | €34,545 | +€31,950 | +1231.2% |
| Total equity and liabilities | 10/49 | €12,972,729 | €13,572,595 | +€599,866 | +4.6% |
| Equity | 10/15 | €8,429,422 | €6,052,326 | -€2.4m | -28.2% |
| Contributions | 10/11 | €3,197,197 | €3,197,197 | = | 0.0% |
| Capital | 10 | €2,531,267 | €2,531,267 | = | 0.0% |
| Issued capital | 100 | €2,531,267 | €2,531,267 | = | 0.0% |
| Outside capital | 11 | €665,930 | €665,930 | = | 0.0% |
| Share premium | 1100/10 | €665,930 | €665,930 | = | 0.0% |
| Reserves | 13 | €1,319,720 | €1,319,720 | = | 0.0% |
| Non-distributable reserves | 130/1 | €319,720 | €319,720 | = | 0.0% |
| Legal reserve | 130 | €319,720 | €319,720 | = | 0.0% |
| Distributable reserves | 133 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,912,505 | €1,535,409 | -€2.4m | -60.8% |
| Provisions and deferred taxes | 16 | - | €25,000 | +€25,000 | |
| Provisions for liabilities and charges | 160/5 | - | €25,000 | +€25,000 | |
| Other liabilities and charges | 164/5 | - | €25,000 | +€25,000 | |
| Amounts payable | 17/49 | €4,543,307 | €7,495,269 | +€3.0m | +65.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Credit institutions | 173 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €3,944,666 | €6,831,810 | +€2.9m | +73.2% |
| Current portion of amounts payable after more than one year | 42 | €14,239 | €0 | -€14,239 | -100.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,135,243 | €877,313 | -€257,930 | -22.7% |
| Suppliers | 440/4 | €1,135,243 | €877,313 | -€257,930 | -22.7% |
| Taxes, remuneration and social security | 45 | €288,566 | €424,807 | +€136,240 | +47.2% |
| Taxes | 450/3 | €72,347 | €192,371 | +€120,024 | +165.9% |
| Remuneration and social security | 454/9 | €216,219 | €232,435 | +€16,216 | +7.5% |
| Other amounts payable | 47/48 | €2,506,617 | €5,529,691 | +€3.0m | +120.6% |
| Accrued charges and deferred income | 492/3 | €598,641 | €663,459 | +€64,817 | +10.8% |
| Operating income | 70/76A | €7,587,487 | €7,577,740 | -€9,746 | -0.1% |
| Turnover | 70 | €6,850,567 | €6,956,557 | +€105,989 | +1.5% |
| Own construction capitalised | 72 | €462,407 | €520,643 | +€58,236 | +12.6% |
| Other operating income | 74 | €269,243 | €100,541 | -€168,702 | -62.7% |
| Non-recurring operating income | 76A | €5,270 | €0 | -€5,270 | -100.0% |
| Operating charges | 60/66A | €7,635,899 | €7,336,155 | -€299,744 | -3.9% |
| Goods for resale, raw materials and consumables | 60 | €954,809 | €1,520,016 | +€565,207 | +59.2% |
| Purchases | 600/8 | €1,536,174 | €1,096,081 | -€440,093 | -28.6% |
| Change in stocks: decrease (increase) | 609 | -€581,366 | €423,935 | +€1.0m | |
| Services and other goods | 61 | €3,314,745 | €2,739,826 | -€574,919 | -17.3% |
| Remuneration, social security and pensions | 62 | €1,681,458 | €1,877,658 | +€196,200 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €560,352 | €552,961 | -€7,391 | -1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €416,980 | €194,654 | -€222,326 | -53.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €25,000 | +€25,000 | |
| Other operating charges | 640/8 | €678,444 | €332,449 | -€345,995 | -51.0% |
| Non-recurring operating charges | 66A | €29,111 | €93,591 | +€64,480 | +221.5% |
| Operating profit (loss) | 9901 | -€48,413 | €241,585 | +€289,998 | |
| Financial income | 75/76B | €360,246 | €441,369 | +€81,123 | +22.5% |
| Recurring financial income | 75 | €360,246 | €441,369 | +€81,123 | +22.5% |
| Income from current assets | 751 | €360,246 | €441,369 | +€81,123 | +22.5% |
| Financial charges | 65/66B | €994,625 | €67,269 | -€927,356 | -93.2% |
| Recurring financial charges | 65 | €994,625 | €67,269 | -€927,356 | -93.2% |
| Debt charges | 650 | €96,058 | €103,978 | +€7,920 | +8.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €893,186 | -€40,283 | -€933,469 | |
| Other financial charges | 652/9 | €5,382 | €3,574 | -€1,807 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | -€682,792 | €615,685 | +€1.3m | |
| Income taxes | 67/77 | €70,449 | €242,780 | +€172,331 | +244.6% |
| Taxes | 670/3 | €70,449 | €242,780 | +€172,331 | +244.6% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€753,242 | €372,904 | +€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€753,242 | €372,904 | +€1.1m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.