DR. KOEN VIAENE: 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.
DR. KOEN VIAENE
Largest movements
- Cash +€210,472
up €210,472 (+51.0%), from €412,554 to €623,026
mainly Net result for the year (+€224,259) and Current investments (+€107,602)
- Current investments -€107,602
down €107,602 (-20.5%), from €525,000 to €417,398
- Tangible fixed assets -€26,503
down €26,503 (-15.1%), from €175,648 to €149,145
of which Land and buildings: -€21,294
- Receivables within one year -€14,777
down €14,777 (-22.3%), from €66,137 to €51,360
of which Trade receivables: -€14,777
- Reserves +€112,253
up €112,253 (+11.3%), from €992,736 to €1.1m
of which Distributable reserves: +€112,253
- Debts after one year -€20,040
down €20,040 (-28.0%), from €71,463 to €51,423
- Tax, wage and social debts -€16,694
down €16,694 (-41.4%), from €40,315 to €23,620
- Trade debts -€14,619
down €14,619 (-45.3%), from €32,237 to €17,618
- Financial income -€50,691
down €50,691 (-77.6%), from €65,320 to €14,629
- Taxes -€26,030
down €26,030 (-22.1%), from €117,641 to €91,611
- Financial charges +€5,075
up €5,075 (+260%), from €1,953 to €7,029
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.
Derived cash bridge
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 | €1,186,261 | €1,245,382 | +€59,121 | +5.0% |
| Fixed assets | 21/28 | €175,648 | €149,145 | -€26,503 | -15.1% |
| Tangible fixed assets | 22/27 | €175,648 | €149,145 | -€26,503 | -15.1% |
| Land and buildings | 22 | €165,782 | €144,487 | -€21,294 | -12.8% |
| Plant, machinery and equipment | 23 | €1,863 | €1,610 | -€253 | -13.6% |
| Furniture and vehicles | 24 | €8,003 | €3,048 | -€4,955 | -61.9% |
| Current assets | 29/58 | €1,010,613 | €1,096,237 | +€85,623 | +8.5% |
| Amounts receivable within one year | 40/41 | €66,137 | €51,360 | -€14,777 | -22.3% |
| Trade receivables | 40 | €41,137 | €26,360 | -€14,777 | -35.9% |
| Other amounts receivable | 41 | €25,000 | €25,000 | = | 0.0% |
| Current investments | 50/53 | €525,000 | €417,398 | -€107,602 | -20.5% |
| Cash at bank and in hand | 54/58 | €412,554 | €623,026 | +€210,472 | +51.0% |
| Deferred charges and accrued income | 490/1 | €6,922 | €4,453 | -€2,469 | -35.7% |
| Total equity and liabilities | 10/49 | €1,186,261 | €1,245,382 | +€59,121 | +5.0% |
| Equity | 10/15 | €1,011,336 | €1,123,589 | +€112,253 | +11.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €992,736 | €1,104,989 | +€112,253 | +11.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €992,736 | €1,104,989 | +€112,253 | +11.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €174,925 | €121,792 | -€53,133 | -30.4% |
| Amounts payable after more than one year | 17 | €71,463 | €51,423 | -€20,040 | -28.0% |
| Financial debts | 170/4 | €71,463 | €51,423 | -€20,040 | -28.0% |
| Amounts payable within one year | 42/48 | €102,401 | €68,966 | -€33,435 | -32.7% |
| Current portion of amounts payable after more than one year | 42 | €19,352 | €20,040 | +€688 | +3.6% |
| Trade debts | 44 | €32,237 | €17,618 | -€14,619 | -45.3% |
| Suppliers | 440/4 | €32,237 | €17,618 | -€14,619 | -45.3% |
| Taxes, remuneration and social security | 45 | €40,315 | €23,620 | -€16,694 | -41.4% |
| Taxes | 450/3 | €40,315 | €23,620 | -€16,694 | -41.4% |
| Other amounts payable | 47/48 | €10,498 | €7,688 | -€2,810 | -26.8% |
| Accrued charges and deferred income | 492/3 | €1,060 | €1,403 | +€343 | +32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,766 | €27,303 | -€1,463 | -5.1% |
| Other operating charges | 640/8 | €3,402 | €3,145 | -€257 | -7.6% |
| Gross operating margin | 9900 | €339,302 | €338,716 | -€585 | -0.2% |
| Operating profit (loss) | 9901 | €307,134 | €308,269 | +€1,135 | +0.4% |
| Financial income | 75/76B | €65,320 | €14,629 | -€50,691 | -77.6% |
| Recurring financial income | 75 | €65,320 | €14,629 | -€50,691 | -77.6% |
| Financial charges | 65/66B | €1,953 | €7,029 | +€5,075 | +260% |
| Recurring financial charges | 65 | €1,953 | €7,029 | +€5,075 | +260% |
| Profit (loss) for the period before taxes | 9903 | €370,500 | €315,869 | -€54,631 | -14.7% |
| Income taxes | 67/77 | €117,641 | €91,611 | -€26,030 | -22.1% |
| Profit (loss) for the period | 9904 | €252,859 | €224,259 | -€28,601 | -11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €252,859 | €224,259 | -€28,601 | -11.3% |
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 20 October 2026 via checked.be.