KEZI: 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.
KEZI
Largest movements
- Receivables within one year -€36,716
down €36,716 (-56.7%), from €64,759 to €28,043
of which Trade receivables: -€20,863
- Deferred charges and accrued income -€7,632
no longer reported in 2025 (was €7,632)
- Stocks and contracts -€2,901
down €2,901 (-8.8%), from €32,901 to €30,000
of which Contracts in progress: -€2,901
- Cash -€2,561
down €2,561 (-52.5%), from €4,879 to €2,318
mainly Tax, wage and social debts (-€30,518) and Net result for the year (-€15,235)
- Tax, wage and social debts -€30,518
down €30,518 (-94.3%), from €32,357 to €1,839
- Profit (loss) carried forward -€15,235
down €15,235 (-47.5%), from €32,098 to €16,863
- Other debts -€9,159
down €9,159 (-24.7%), from €37,115 to €27,956
- Trade debts +€5,102
new in 2025: €5,102
- Gross operating margin -€15,181
down €15,181, from €9,151 to -€6,029
- Taxes +€1,076
new in 2025: €1,076
- Financial charges +€895
up €895 (+297.2%), from €301 to €1,197
- Financial income +€788
new in 2025: €788
- Other operating charges +€513
up €513 (+247.7%), from €207 to €720
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 | €120,170 | €70,360 | -€49,809 | -41.4% |
| Fixed assets | 21/28 | €10,000 | €10,000 | = | 0.0% |
| Intangible fixed assets | 21 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €110,170 | €60,360 | -€49,809 | -45.2% |
| Stocks and contracts in progress | 3 | €32,901 | €30,000 | -€2,901 | -8.8% |
| Stocks | 30/36 | €30,000 | €30,000 | = | 0.0% |
| Contracts in progress | 37 | €2,901 | - | -€2,901 | |
| Amounts receivable within one year | 40/41 | €64,759 | €28,043 | -€36,716 | -56.7% |
| Trade receivables | 40 | €48,905 | €28,043 | -€20,863 | -42.7% |
| Other amounts receivable | 41 | €15,853 | - | -€15,853 | |
| Cash at bank and in hand | 54/58 | €4,879 | €2,318 | -€2,561 | -52.5% |
| Deferred charges and accrued income | 490/1 | €7,632 | - | -€7,632 | |
| Total equity and liabilities | 10/49 | €120,170 | €70,360 | -€49,809 | -41.4% |
| Equity | 10/15 | €50,698 | €35,463 | -€15,235 | -30.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,098 | €16,863 | -€15,235 | -47.5% |
| Amounts payable | 17/49 | €69,472 | €34,897 | -€34,575 | -49.8% |
| Amounts payable within one year | 42/48 | €69,472 | €34,897 | -€34,575 | -49.8% |
| Trade debts | 44 | - | €5,102 | +€5,102 | |
| Suppliers | 440/4 | - | €5,102 | +€5,102 | |
| Taxes, remuneration and social security | 45 | €32,357 | €1,839 | -€30,518 | -94.3% |
| Taxes | 450/3 | €32,357 | €1,839 | -€30,518 | -94.3% |
| Other amounts payable | 47/48 | €37,115 | €27,956 | -€9,159 | -24.7% |
| Other operating charges | 640/8 | €207 | €720 | +€513 | +247.7% |
| Non-recurring operating charges | 66A | - | €7,001 | +€7,001 | |
| Gross operating margin | 9900 | €9,151 | -€6,029 | -€15,181 | |
| Operating profit (loss) | 9901 | €8,944 | -€13,750 | -€22,695 | |
| Financial income | 75/76B | - | €788 | +€788 | |
| Recurring financial income | 75 | - | €788 | +€788 | |
| Financial charges | 65/66B | €301 | €1,197 | +€895 | +297.2% |
| Recurring financial charges | 65 | €301 | €1,197 | +€895 | +297.2% |
| Profit (loss) for the period before taxes | 9903 | €8,643 | -€14,159 | -€22,802 | |
| Income taxes | 67/77 | - | €1,076 | +€1,076 | |
| Profit (loss) for the period | 9904 | €8,643 | -€15,235 | -€23,878 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,643 | -€15,235 | -€23,878 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.