KEN KOEKLENBERG: 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 KOEKLENBERG
Largest movements
- Receivables after one year -€70,000
down €70,000 (-27.5%), from €255,000 to €185,000
- Receivables within one year -€59,425
down €59,425 (-88.8%), from €66,936 to €7,511
of which Trade receivables: -€53,880
- Cash +€52,622
up €52,622 (+34.8%), from €150,997 to €203,619
mainly Receivables after one year (+€70,000) and Receivables within one year (+€59,425)
- Deferred charges and accrued income -€9,531
down €9,531 (-77.6%), from €12,277 to €2,746
- Profit (loss) carried forward -€35,549
down €35,549, from €0 to -€35,549
- Accrued charges and deferred income -€33,000
no longer reported in 2025 (was €33,000)
- Tax, wage and social debts -€9,610
down €9,610 (-97.6%), from €9,843 to €233
of which Taxes: -€6,640
- Gross operating margin -€64,547
down €64,547, from €29,228 to -€35,319
- Taxes -€18,181
down €18,181 (-97.9%), from €18,575 to €394
- Financial income -€13,464
down €13,464 (-68.3%), from €19,703 to €6,240
- Financial charges -€407
down €407 (-77.9%), from €523 to €115
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 | €493,043 | €410,026 | -€83,016 | -16.8% |
| Fixed assets | 21/28 | €7,833 | €11,150 | +€3,317 | +42.3% |
| Tangible fixed assets | 22/27 | €7,833 | €8,650 | +€817 | +10.4% |
| Plant, machinery and equipment | 23 | €2,015 | €751 | -€1,264 | -62.7% |
| Furniture and vehicles | 24 | €3,280 | €6,164 | +€2,884 | +87.9% |
| Other tangible fixed assets | 26 | €2,538 | €1,735 | -€803 | -31.6% |
| Financial fixed assets | 28 | - | €2,500 | +€2,500 | |
| Current assets | 29/58 | €485,210 | €398,877 | -€86,333 | -17.8% |
| Amounts receivable after more than one year | 29 | €255,000 | €185,000 | -€70,000 | -27.5% |
| Other amounts receivable | 291 | €255,000 | €185,000 | -€70,000 | -27.5% |
| Amounts receivable within one year | 40/41 | €66,936 | €7,511 | -€59,425 | -88.8% |
| Trade receivables | 40 | €59,930 | €6,050 | -€53,880 | -89.9% |
| Other amounts receivable | 41 | €7,006 | €1,461 | -€5,545 | -79.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €150,997 | €203,619 | +€52,622 | +34.8% |
| Deferred charges and accrued income | 490/1 | €12,277 | €2,746 | -€9,531 | -77.6% |
| Total equity and liabilities | 10/49 | €493,043 | €410,026 | -€83,016 | -16.8% |
| Equity | 10/15 | €442,517 | €406,968 | -€35,549 | -8.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €423,917 | €423,917 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €423,917 | €423,917 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€35,549 | -€35,549 | |
| Amounts payable | 17/49 | €50,526 | €3,058 | -€47,467 | -93.9% |
| Amounts payable within one year | 42/48 | €17,526 | €3,058 | -€14,467 | -82.5% |
| Trade debts | 44 | €5,020 | €1,129 | -€3,891 | -77.5% |
| Suppliers | 440/4 | €5,020 | €1,129 | -€3,891 | -77.5% |
| Taxes, remuneration and social security | 45 | €9,843 | €233 | -€9,610 | -97.6% |
| Taxes | 450/3 | €6,873 | €233 | -€6,640 | -96.6% |
| Remuneration and social security | 454/9 | €2,969 | - | -€2,969 | |
| Other amounts payable | 47/48 | €2,663 | €1,696 | -€967 | -36.3% |
| Accrued charges and deferred income | 492/3 | €33,000 | - | -€33,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,176 | €4,422 | +€246 | +5.9% |
| Other operating charges | 640/8 | €1,225 | €1,539 | +€314 | +25.6% |
| Gross operating margin | 9900 | €29,228 | -€35,319 | -€64,547 | |
| Operating profit (loss) | 9901 | €23,827 | -€41,279 | -€65,106 | |
| Financial income | 75/76B | €19,703 | €6,240 | -€13,464 | -68.3% |
| Recurring financial income | 75 | €19,703 | €6,240 | -€13,464 | -68.3% |
| Financial charges | 65/66B | €523 | €115 | -€407 | -77.9% |
| Recurring financial charges | 65 | €523 | €115 | -€407 | -77.9% |
| Profit (loss) for the period before taxes | 9903 | €43,008 | -€35,155 | -€78,163 | |
| Income taxes | 67/77 | €18,575 | €394 | -€18,181 | -97.9% |
| Profit (loss) for the period | 9904 | €24,433 | -€35,549 | -€59,982 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,433 | -€35,549 | -€59,982 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.