KEN GYSENBERGS: 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.
KEN GYSENBERGS
Largest movements
- Cash +€7,048
up €7,048 (+9.1%), from €77,300 to €84,348
mainly Net result for the year (+€9,439) and Depreciation (+€8,164)
- Tangible fixed assets -€4,264
down €4,264 (-20.7%), from €20,589 to €16,325
of which Other tangible fixed assets: -€4,025
- Reserves +€9,439
up €9,439 (+507%), from €1,860 to €11,299
- Accrued charges and deferred income -€5,409
down €5,409 (-78.4%), from €6,899 to €1,490
- Debts after one year -€2,659
down €2,659 (-32.0%), from €8,320 to €5,661
- Tax, wage and social debts +€2,182
up €2,182 (+20.4%), from €10,718 to €12,900
of which Taxes: +€1,840
- Gross operating margin +€17,685
up €17,685 (+53.6%), from €33,006 to €50,691
- Staff costs +€4,920
up €4,920 (+23.2%), from €21,218 to €26,137
- Taxes +€3,441
up €3,441 (+901%), from €382 to €3,822
- Other operating charges +€1,771
up €1,771 (+231%), from €767 to €2,538
- Depreciation -€1,640
down €1,640 (-16.7%), from €9,804 to €8,164
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 | €111,639 | €113,907 | +€2,268 | +2.0% |
| Fixed assets | 21/28 | €20,904 | €16,640 | -€4,264 | -20.4% |
| Tangible fixed assets | 22/27 | €20,589 | €16,325 | -€4,264 | -20.7% |
| Plant, machinery and equipment | 23 | €7,403 | €7,740 | +€337 | +4.6% |
| Furniture and vehicles | 24 | €1,475 | €900 | -€576 | -39.0% |
| Other tangible fixed assets | 26 | €11,711 | €7,686 | -€4,025 | -34.4% |
| Financial fixed assets | 28 | €315 | €315 | = | 0.0% |
| Current assets | 29/58 | €90,735 | €97,267 | +€6,532 | +7.2% |
| Stocks and contracts in progress | 3 | €11,300 | €10,985 | -€315 | -2.8% |
| Stocks | 30/36 | €11,300 | €10,985 | -€315 | -2.8% |
| Amounts receivable within one year | 40/41 | €610 | €1,164 | +€554 | +90.9% |
| Trade receivables | 40 | - | €376 | +€376 | |
| Other amounts receivable | 41 | €610 | €788 | +€178 | +29.2% |
| Cash at bank and in hand | 54/58 | €77,300 | €84,348 | +€7,048 | +9.1% |
| Deferred charges and accrued income | 490/1 | €1,525 | €771 | -€755 | -49.5% |
| Total equity and liabilities | 10/49 | €111,639 | €113,907 | +€2,268 | +2.0% |
| Equity | 10/15 | €75,344 | €84,783 | +€9,439 | +12.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €11,299 | +€9,439 | +507% |
| Distributable reserves | 133 | €1,860 | €11,299 | +€9,439 | +507% |
| Profit (loss) carried forward | 14 | €54,884 | €54,884 | = | 0.0% |
| Amounts payable | 17/49 | €36,295 | €29,123 | -€7,171 | -19.8% |
| Amounts payable after more than one year | 17 | €8,320 | €5,661 | -€2,659 | -32.0% |
| Financial debts | 170/4 | €8,320 | €5,661 | -€2,659 | -32.0% |
| Amounts payable within one year | 42/48 | €21,075 | €21,973 | +€897 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €3,676 | €2,659 | -€1,017 | -27.7% |
| Trade debts | 44 | €6,681 | €6,414 | -€268 | -4.0% |
| Suppliers | 440/4 | €6,681 | €6,414 | -€268 | -4.0% |
| Taxes, remuneration and social security | 45 | €10,718 | €12,900 | +€2,182 | +20.4% |
| Taxes | 450/3 | €9,302 | €11,142 | +€1,840 | +19.8% |
| Remuneration and social security | 454/9 | €1,416 | €1,758 | +€341 | +24.1% |
| Accrued charges and deferred income | 492/3 | €6,899 | €1,490 | -€5,409 | -78.4% |
| Non-recurring operating income | 76A | €4,613 | - | -€4,613 | |
| Remuneration, social security and pensions | 62 | €21,218 | €26,137 | +€4,920 | +23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,804 | €8,164 | -€1,640 | -16.7% |
| Other operating charges | 640/8 | €767 | €2,538 | +€1,771 | +231% |
| Gross operating margin | 9900 | €33,006 | €50,691 | +€17,685 | +53.6% |
| Operating profit (loss) | 9901 | €1,217 | €13,851 | +€12,634 | +1,038% |
| Financial income | 75/76B | €68 | €67 | -€1 | -1.1% |
| Recurring financial income | 75 | €68 | €67 | -€1 | -1.1% |
| Financial charges | 65/66B | €914 | €657 | -€258 | -28.2% |
| Recurring financial charges | 65 | €914 | €657 | -€258 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €371 | €13,262 | +€12,891 | +3,475% |
| Income taxes | 67/77 | €382 | €3,822 | +€3,441 | +901% |
| Profit (loss) for the period | 9904 | -€11 | €9,439 | +€9,450 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11 | €9,439 | +€9,450 |
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 24 October 2026 via checked.be.