Keywrapz: 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.
Keywrapz
Largest movements
- Tangible fixed assets +€27,165
up €27,165 (+91.0%), from €29,867 to €57,032
of which Furniture and vehicles: +€27,994
- Cash -€24,118
down €24,118 (-58.7%), from €41,073 to €16,955
mainly Net result for the year (-€43,619) and Investment in fixed assets (net) (-€41,600)
- Receivables within one year -€20,561
down €20,561 (-55.3%), from €37,181 to €16,620
of which Trade receivables: -€20,985
- Stocks and contracts -€9,500
down €9,500 (-18.1%), from €52,500 to €43,000
- Profit (loss) carried forward -€43,619
down €43,619 (-103.8%), from -€42,036 to -€85,655
- Debts after one year +€25,038
new in 2025: €25,038
- Current portion of long-term debt +€13,629
new in 2025: €13,629
- Other debts -€13,614
down €13,614 (-10.8%), from €125,496 to €111,882
- Trade debts -€10,591
down €10,591 (-18.1%), from €58,435 to €47,844
- Depreciation +€10,367
up €10,367 (+254.8%), from €4,069 to €14,435
- Gross operating margin -€6,686
down €6,686 (-48.8%), from -€13,709 to -€20,395
- Other operating charges +€777
up €777 (+38.8%), from €1,999 to €2,776
- Financial income -€498
down €498 (-100.0%), from €498 to €0
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 | €161,167 | €134,097 | -€27,069 | -16.8% |
| Fixed assets | 21/28 | €29,867 | €57,032 | +€27,165 | +91.0% |
| Tangible fixed assets | 22/27 | €29,867 | €57,032 | +€27,165 | +91.0% |
| Plant, machinery and equipment | 23 | €3,314 | €2,485 | -€830 | -25.0% |
| Furniture and vehicles | 24 | €26,553 | €54,547 | +€27,994 | +105.4% |
| Current assets | 29/58 | €131,299 | €77,065 | -€54,234 | -41.3% |
| Stocks and contracts in progress | 3 | €52,500 | €43,000 | -€9,500 | -18.1% |
| Stocks | 30/36 | €52,500 | €43,000 | -€9,500 | -18.1% |
| Amounts receivable within one year | 40/41 | €37,181 | €16,620 | -€20,561 | -55.3% |
| Trade receivables | 40 | €36,539 | €15,554 | -€20,985 | -57.4% |
| Other amounts receivable | 41 | €642 | €1,066 | +€424 | +66.1% |
| Cash at bank and in hand | 54/58 | €41,073 | €16,955 | -€24,118 | -58.7% |
| Deferred charges and accrued income | 490/1 | €545 | €490 | -€55 | -10.1% |
| Total equity and liabilities | 10/49 | €161,167 | €134,097 | -€27,069 | -16.8% |
| Equity | 10/15 | -€37,036 | -€80,655 | -€43,619 | -117.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,036 | -€85,655 | -€43,619 | -103.8% |
| Amounts payable | 17/49 | €198,202 | €214,752 | +€16,550 | +8.3% |
| Amounts payable after more than one year | 17 | - | €25,038 | +€25,038 | |
| Financial debts | 170/4 | - | €25,038 | +€25,038 | |
| Amounts payable within one year | 42/48 | €196,887 | €188,347 | -€8,540 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | - | €13,629 | +€13,629 | |
| Trade debts | 44 | €58,435 | €47,844 | -€10,591 | -18.1% |
| Suppliers | 440/4 | €58,435 | €47,844 | -€10,591 | -18.1% |
| Taxes, remuneration and social security | 45 | €12,956 | €14,993 | +€2,036 | +15.7% |
| Taxes | 450/3 | €12,956 | €14,993 | +€2,036 | +15.7% |
| Other amounts payable | 47/48 | €125,496 | €111,882 | -€13,614 | -10.8% |
| Accrued charges and deferred income | 492/3 | €1,315 | €1,367 | +€52 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,069 | €14,435 | +€10,367 | +254.8% |
| Other operating charges | 640/8 | €1,999 | €2,776 | +€777 | +38.8% |
| Non-recurring operating charges | 66A | €5,400 | €3,524 | -€1,876 | -34.7% |
| Gross operating margin | 9900 | -€13,709 | -€20,395 | -€6,686 | -48.8% |
| Operating profit (loss) | 9901 | -€25,177 | -€41,130 | -€15,953 | -63.4% |
| Financial income | 75/76B | €498 | €0 | -€498 | -100.0% |
| Recurring financial income | 75 | €498 | €0 | -€498 | -100.0% |
| Financial charges | 65/66B | €2,267 | €2,451 | +€183 | +8.1% |
| Recurring financial charges | 65 | €2,267 | €2,451 | +€183 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | -€26,946 | -€43,581 | -€16,635 | -61.7% |
| Income taxes | 67/77 | - | €38 | +€38 | |
| Profit (loss) for the period | 9904 | -€26,946 | -€43,619 | -€16,673 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,946 | -€43,619 | -€16,673 | -61.9% |
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 11 October 2026 via checked.be.