Nicolas Keutgen: what changed
Nicolas Keutgen
Largest movements
- Cash +€179,074
up €179,074 (+74.9%), from €239,009 to €418,083
mainly Net result for the year (+€287,841) and Receivables within one year (+€52,156)
- Receivables within one year -€52,156
down €52,156 (-33.2%), from €156,877 to €104,721
of which Trade receivables: -€90,635
- Reserves +€366,762
up €366,762 (+18,338%), from €2,000 to €368,762
of which Distributable reserves: +€366,762
- Profit (loss) carried forward -€278,922
no longer reported in 2024 (was €278,922)
- Tax, wage and social debts +€31,775
up €31,775 (+31.2%), from €101,705 to €133,480
of which Taxes: +€32,032
- Trade debts +€7,461
up €7,461 (+72.3%), from €10,325 to €17,786
- Gross operating margin +€365,728
up €365,728 (+2,110%), from €17,330 to €383,057
- Taxes +€99,480
up €99,480 (+4,809%), from €2,069 to €101,548
- Depreciation -€10,490
no longer reported in 2024 (was €10,490)
- Financial income +€4,493
up €4,493 (+168%), from €2,672 to €7,165
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €412,952 | €540,029 | +€127,077 | +30.8% |
| Fixed assets | 21/28 | €15,000 | €15,000 | = | 0.0% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €397,952 | €525,029 | +€127,077 | +31.9% |
| Amounts receivable within one year | 40/41 | €156,877 | €104,721 | -€52,156 | -33.2% |
| Trade receivables | 40 | €90,635 | - | -€90,635 | |
| Other amounts receivable | 41 | €66,242 | €104,721 | +€38,479 | +58.1% |
| Cash at bank and in hand | 54/58 | €239,009 | €418,083 | +€179,074 | +74.9% |
| Deferred charges and accrued income | 490/1 | €2,065 | €2,224 | +€159 | +7.7% |
| Total equity and liabilities | 10/49 | €412,952 | €540,029 | +€127,077 | +30.8% |
| Equity | 10/15 | €300,922 | €388,762 | +€87,841 | +29.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €368,762 | +€366,762 | +18,338% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | - | €366,762 | +€366,762 | |
| Profit (loss) carried forward | 14 | €278,922 | - | -€278,922 | |
| Amounts payable | 17/49 | €112,030 | €151,266 | +€39,236 | +35.0% |
| Amounts payable within one year | 42/48 | €112,030 | €151,266 | +€39,236 | +35.0% |
| Trade debts | 44 | €10,325 | €17,786 | +€7,461 | +72.3% |
| Suppliers | 440/4 | €10,325 | €17,786 | +€7,461 | +72.3% |
| Taxes, remuneration and social security | 45 | €101,705 | €133,480 | +€31,775 | +31.2% |
| Taxes | 450/3 | €101,448 | €133,480 | +€32,032 | +31.6% |
| Remuneration and social security | 454/9 | €256 | - | -€256 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,490 | - | -€10,490 | |
| Other operating charges | 640/8 | €490 | €520 | +€30 | +6.2% |
| Gross operating margin | 9900 | €17,330 | €383,057 | +€365,728 | +2,110% |
| Operating profit (loss) | 9901 | €6,350 | €382,538 | +€376,188 | +5,924% |
| Financial income | 75/76B | €2,672 | €7,165 | +€4,493 | +168% |
| Recurring financial income | 75 | €2,672 | €7,165 | +€4,493 | +168% |
| Financial charges | 65/66B | €148 | €314 | +€166 | +112% |
| Recurring financial charges | 65 | €148 | €314 | +€166 | +112% |
| Profit (loss) for the period before taxes | 9903 | €8,874 | €389,389 | +€380,515 | +4,288% |
| Income taxes | 67/77 | €2,069 | €101,548 | +€99,480 | +4,809% |
| Profit (loss) for the period | 9904 | €6,805 | €287,841 | +€281,035 | +4,130% |
| Profit (loss) for the period to be appropriated | 9905 | €6,805 | €287,841 | +€281,035 | +4,130% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.