Iwan & Koen: 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.
Iwan & Koen
Largest movements
- Tangible fixed assets -€11,343
down €11,343 (-2.2%), from €510,493 to €499,150
- Receivables within one year +€10,745
new in 2025: €10,745
of which Other amounts receivable: +€6,641
- Debts after one year -€25,674
down €25,674 (-9.0%), from €284,819 to €259,145
- Reserves +€16,672
new in 2025: €16,672
- Taxes +€1,667
new in 2025: €1,667
- Gross operating margin +€902
up €902 (+2.5%), from €36,294 to €37,196
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 | €512,958 | €510,565 | -€2,392 | -0.5% |
| Fixed assets | 21/28 | €510,493 | €499,150 | -€11,343 | -2.2% |
| Tangible fixed assets | 22/27 | €510,493 | €499,150 | -€11,343 | -2.2% |
| Land and buildings | 22 | €510,493 | €499,150 | -€11,343 | -2.2% |
| Current assets | 29/58 | €2,465 | €11,415 | +€8,950 | +363% |
| Amounts receivable within one year | 40/41 | - | €10,745 | +€10,745 | |
| Trade receivables | 40 | - | €4,104 | +€4,104 | |
| Other amounts receivable | 41 | - | €6,641 | +€6,641 | |
| Cash at bank and in hand | 54/58 | €2,465 | €670 | -€1,795 | -72.8% |
| Total equity and liabilities | 10/49 | €512,958 | €510,565 | -€2,392 | -0.5% |
| Equity | 10/15 | €45,132 | €61,803 | +€16,672 | +36.9% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | - | €16,672 | +€16,672 | |
| Distributable reserves | 133 | - | €16,672 | +€16,672 | |
| Profit (loss) carried forward | 14 | €5,132 | €5,132 | = | 0.0% |
| Amounts payable | 17/49 | €467,826 | €448,762 | -€19,064 | -4.1% |
| Amounts payable after more than one year | 17 | €284,819 | €259,145 | -€25,674 | -9.0% |
| Financial debts | 170/4 | €284,819 | €259,145 | -€25,674 | -9.0% |
| Amounts payable within one year | 42/48 | €183,007 | €189,617 | +€6,610 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €25,289 | €25,674 | +€385 | +1.5% |
| Taxes, remuneration and social security | 45 | €1,541 | €3,758 | +€2,216 | +144% |
| Taxes | 450/3 | €1,541 | €3,758 | +€2,216 | +144% |
| Other amounts payable | 47/48 | €156,177 | €160,186 | +€4,009 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,343 | €11,343 | = | 0.0% |
| Other operating charges | 640/8 | €2,552 | €2,688 | +€136 | +5.3% |
| Gross operating margin | 9900 | €36,294 | €37,196 | +€902 | +2.5% |
| Operating profit (loss) | 9901 | €22,399 | €23,165 | +€766 | +3.4% |
| Financial income | 75/76B | €103 | - | -€103 | |
| Recurring financial income | 75 | €103 | - | -€103 | |
| Financial charges | 65/66B | €5,171 | €4,827 | -€344 | -6.7% |
| Recurring financial charges | 65 | €5,171 | €4,827 | -€344 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €17,331 | €18,339 | +€1,007 | +5.8% |
| Income taxes | 67/77 | - | €1,667 | +€1,667 | |
| Profit (loss) for the period | 9904 | €17,331 | €16,672 | -€660 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,331 | €16,672 | -€660 | -3.8% |
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 14 October 2026 via checked.be.