NR KEYSTONE: 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.
NR KEYSTONE
Largest movements
- Cash -€70,972
down €70,972 (-58.2%), from €121,891 to €50,919
mainly Advances received (-€116,068) and Investment in fixed assets (net) (-€18,256)
- Receivables within one year -€29,941
down €29,941 (-27.1%), from €110,625 to €80,684
of which Other amounts receivable: -€18,633
- Tangible fixed assets +€14,060
up €14,060 (+975%), from €1,441 to €15,501
of which Furniture and vehicles: +€11,921
- Advances received -€116,068
no longer reported in 2023 (was €116,068)
- Profit (loss) carried forward +€50,780
up €50,780 (+995%), from €5,103 to €55,883
- Tax, wage and social debts -€14,564
down €14,564 (-65.8%), from €22,143 to €7,578
of which Taxes: -€13,364
- Other debts -€5,912
down €5,912 (-64.9%), from €9,109 to €3,197
- Gross operating margin +€55,241
up €55,241 (+612%), from €9,027 to €64,268
- Taxes +€7,564
up €7,564 (+54,340%), from €14 to €7,578
- Depreciation +€975
up €975 (+30.3%), from €3,221 to €4,196
- Financial charges +€886
up €886 (+460%), from €193 to €1,078
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €236,030 | €149,176 | -€86,853 | -36.8% |
| Fixed assets | 21/28 | €3,514 | €17,574 | +€14,060 | +400% |
| Tangible fixed assets | 22/27 | €1,441 | €15,501 | +€14,060 | +975% |
| Plant, machinery and equipment | 23 | - | €2,138 | +€2,138 | |
| Furniture and vehicles | 24 | €1,441 | €13,363 | +€11,921 | +827% |
| Financial fixed assets | 28 | €2,072 | €2,072 | = | 0.0% |
| Current assets | 29/58 | €232,516 | €131,603 | -€100,913 | -43.4% |
| Amounts receivable within one year | 40/41 | €110,625 | €80,684 | -€29,941 | -27.1% |
| Trade receivables | 40 | €82,963 | €71,655 | -€11,308 | -13.6% |
| Other amounts receivable | 41 | €27,662 | €9,029 | -€18,633 | -67.4% |
| Cash at bank and in hand | 54/58 | €121,891 | €50,919 | -€70,972 | -58.2% |
| Total equity and liabilities | 10/49 | €236,030 | €149,176 | -€86,853 | -36.8% |
| Equity | 10/15 | €15,103 | €65,883 | +€50,780 | +336% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,103 | €55,883 | +€50,780 | +995% |
| Amounts payable | 17/49 | €220,926 | €83,293 | -€137,633 | -62.3% |
| Amounts payable within one year | 42/48 | €220,926 | €83,293 | -€137,633 | -62.3% |
| Trade debts | 44 | €73,607 | €72,518 | -€1,089 | -1.5% |
| Suppliers | 440/4 | €73,607 | €72,518 | -€1,089 | -1.5% |
| Advances received on contracts in progress | 46 | €116,068 | - | -€116,068 | |
| Taxes, remuneration and social security | 45 | €22,143 | €7,578 | -€14,564 | -65.8% |
| Taxes | 450/3 | €20,943 | €7,578 | -€13,364 | -63.8% |
| Remuneration and social security | 454/9 | €1,200 | - | -€1,200 | |
| Other amounts payable | 47/48 | €9,109 | €3,197 | -€5,912 | -64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,221 | €4,196 | +€975 | +30.3% |
| Other operating charges | 640/8 | €348 | €661 | +€313 | +90.1% |
| Non-recurring operating charges | 66A | €438 | - | -€438 | |
| Gross operating margin | 9900 | €9,027 | €64,268 | +€55,241 | +612% |
| Operating profit (loss) | 9901 | €5,020 | €59,411 | +€54,391 | +1,084% |
| Financial income | 75/76B | €0 | €25 | +€25 | +84,267% |
| Recurring financial income | 75 | €0 | €25 | +€25 | +84,267% |
| Financial charges | 65/66B | €193 | €1,078 | +€886 | +460% |
| Recurring financial charges | 65 | €193 | €1,078 | +€886 | +460% |
| Profit (loss) for the period before taxes | 9903 | €4,827 | €58,358 | +€53,531 | +1,109% |
| Income taxes | 67/77 | €14 | €7,578 | +€7,564 | +54,340% |
| Profit (loss) for the period | 9904 | €4,813 | €50,780 | +€45,967 | +955% |
| Profit (loss) for the period to be appropriated | 9905 | €4,813 | €50,780 | +€45,967 | +955% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.