Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2022 and 2024.
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Figures corrected NBB
Corrected annual account filed for 2020, 2021.
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Late annual account NBB
Fiscal year 2024 was filed 256 days after the legal deadline.
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Annual account missing NBB
Fiscal year 2025 was expected before 30 January 2026 and has not been filed.
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Board fully replaced NBB
No director from three years ago is still active according to annual account 2024.
Financials
Financial year 2024
KEYROCK from Elsene, company number BE0685795245, closed financial year 2024 with a result of € -11.4 million after tax. For that financial year KEYROCK recorded revenue of € 31.2 million and equity of € 28.9 million. Compared with financial year 2022, the result moved from € -1.3 million to € -11.4 million. The company made a loss. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 13, 2025.
€ 28.9 million
▲ 14% vs 2022
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -11.4 million
▼ 795 % more loss than in 2022
Profit after tax over the fiscal year.
€ 26.4 million
▲ 54% vs 2022
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -7.3 million.
People and assets in 2024
26.6
▲ 4.8 vs 2022
Average over the fiscal year, from the social balance sheet.
€ 4 million
▲ 110% vs 2022
€ 149,600 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 374,610
▲ € 316,520 vs 2022
Book value of vehicles, furniture and equipment.
Debts at end 2024
€ 156.3 million
▲ 145% vs 2022
Loans from banks and other lenders, long and short.
€ 3.5 million
▲ 116% vs 2022
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 34 days on average.
€ 458,689
▼ 42% vs 2022
Taxes, VAT and social contributions still to pay.
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| 2020 | 2021 | 2022 | 2024 | Change 2022 → 2024 | |
|---|---|---|---|---|---|
| Revenue | - | - | - | € 31,193,599 | |
| Gross margin | € 1,111,854 | € 8,538,432 | € 4,626,475 | - | |
| Profit after taxes | € -371,630 | € 6,167,579 | € -1,273,747 | € -11,403,312 | ▼ € 10.1 million |
| Equity | € 5,494,858 | € 11,606,436 | € 25,332,697 | € 28,929,873 | ▲ 14% |
| Total debts | € 15,288,332 | € 86,603,373 | € 66,624,681 | € 163,761,404 | ▲ 146% |
| Cash | € 4,178,404 | € 4,871,431 | € 17,167,429 | € 26,366,168 | ▲ 54% |
| Retained profit | € -717,715 | € 5,393,863 | € 4,120,116 | € -7,283,196 | ▼ € 11.4 million |
| Bank debt | € 14,833,499 | € 84,665,732 | € 63,763,835 | € 156,282,876 | ▲ 145% |
| Balance sheet total | € 20,783,190 | € 98,209,809 | € 91,957,378 | € 192,691,276 | ▲ 110% |
| Employees (FTE) | 14.7 | 19.3 | 21.8 | 26.6 | ▲ 4.8 |
Key figures of KEYROCK, fiscal years 2020 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 30 January 2026.
What happened to KEYROCK?
What happened at KEYROCK in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Andreas Iten stepped down as director. NBB
- Kevin De Patoul stepped down as director. NBB
- New annual accounts for financial year 2024: loss of € 11.4 million. filed late Source: NBB ↗
- Andreas Iten became a director. NBB
- Kevin De Patoul became a director. NBB
- New establishment in Elsene. KBO
- Start of the company according to the CBE. KBO
In short
From € 371,630 loss in 2020 to € 11.4 million loss in 2024.
Paid € 265,947 in corporate taxes since 2020.
Best year ever: 2021, with € 6.2 million profit.
On average € 212,200 of value added per employee in 2022.
A new publication or filing at KEYROCK? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind KEYROCK are Pascal Bouvier, Juan David Mendieta Villegas and Volta Management. The shares are held by Stefano Schiavi, Kevin De Patoul, Six Group AG, Pamir Gelenbe, Amun Holdings Limited and Jérémy De Groodt. It owns 100% of Fija Finance Gmbh, 100% of Pragma Labs BV, 100% of Keyrock UK Limited, 100% of Alliance Cayman Feeder II LP, 100% of Keyrock SG PTE. LTD. and 100% of Keyrock CH GMBH itself.
Directors
According to the 2024 annual accounts
Pascal Bouvier
Director
Andreas Iten
Director
since 2022 · until 2028
Kevin De Patoul
Director
Is a shareholder
since 2022 · until 2028
Shareholders
Stefano Schiavi
Kevin De Patoul · director
Six Group AG
Pamir Gelenbe
Amun Holdings Limited
Jérémy De Groodt
DTECM Conseil
Juan David Mendieta Villegas · director
TNN Patrimony
Ripple Labs Inc (USA)
Middle Game Ventures Fund I
Participations
Fija Finance Gmbh
100%
100%
Keyrock UK Limited
100%
Alliance Cayman Feeder II LP
100%
Keyrock SG PTE. LTD.
100%
Keyrock CH GMBH
100%
Keyrock FR
100%
100%
99%
Establishments
Establishment units
Physical locations of this company
Louizalaan 480
1050 Elsene
Louizalaan 251
1050 Elsene
Active since 11 December 2017
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Google Workspace
Hosting
CLOUDFLARENET - Cloudflare, Inc., US
DNS
Cloudflare DNS
Domain
Domain
keyrock.com
Registered
2004-09-15
Registrar
Amazon Registrar, Inc.
Expires
2026-09-15
Website info
Features
Security
Network
Details
- Company number
- 0685.795.245
- VAT number
- BE 0685.795.245
- Registered office
- Louizalaan 480, 1050 Elsene
- Names & denominations
- KEYROCK
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 11 December 2017
- Peppol
- Active · Active since 1 Oct 2025
- Contact
- keyrock.com
- Activities · NACE
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