Ken Vanderstraeten: 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 Vanderstraeten
Largest movements
- Cash +€105,511
up €105,511 (+172%), from €61,331 to €166,842
mainly Net result for the year (+€76,389) and Tax, wage and social debts (+€26,848)
- Tangible fixed assets -€2,365
down €2,365 (-22.4%), from €10,566 to €8,201
- Reserves +€76,389
up €76,389 (+245%), from €31,138 to €107,528
- Tax, wage and social debts +€26,848
up €26,848 (+134%), from €19,963 to €46,811
- Gross operating margin +€60,590
up €60,590 (+149%), from €40,738 to €101,328
- Taxes +€12,335
up €12,335 (+136%), from €9,101 to €21,436
- Depreciation +€1,105
up €1,105 (+87.7%), from €1,260 to €2,365
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 | €72,208 | €175,389 | +€103,180 | +143% |
| Fixed assets | 21/28 | €10,566 | €8,201 | -€2,365 | -22.4% |
| Tangible fixed assets | 22/27 | €10,566 | €8,201 | -€2,365 | -22.4% |
| Furniture and vehicles | 24 | €10,566 | €8,201 | -€2,365 | -22.4% |
| Current assets | 29/58 | €61,642 | €167,188 | +€105,546 | +171% |
| Amounts receivable within one year | 40/41 | €23 | €76 | +€52 | +223% |
| Other amounts receivable | 41 | €23 | €76 | +€52 | +223% |
| Cash at bank and in hand | 54/58 | €61,331 | €166,842 | +€105,511 | +172% |
| Deferred charges and accrued income | 490/1 | €287 | €270 | -€18 | -6.1% |
| Total equity and liabilities | 10/49 | €72,208 | €175,389 | +€103,180 | +143% |
| Equity | 10/15 | €46,138 | €122,528 | +€76,389 | +166% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €31,138 | €107,528 | +€76,389 | +245% |
| Distributable reserves | 133 | €31,138 | €107,528 | +€76,389 | +245% |
| Amounts payable | 17/49 | €26,070 | €52,861 | +€26,791 | +103% |
| Amounts payable within one year | 42/48 | €26,070 | €52,861 | +€26,791 | +103% |
| Trade debts | 44 | €2,718 | €2,521 | -€198 | -7.3% |
| Suppliers | 440/4 | €2,718 | €2,521 | -€198 | -7.3% |
| Taxes, remuneration and social security | 45 | €19,963 | €46,811 | +€26,848 | +134% |
| Taxes | 450/3 | €19,963 | €46,811 | +€26,848 | +134% |
| Other amounts payable | 47/48 | €3,389 | €3,529 | +€141 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,260 | €2,365 | +€1,105 | +87.7% |
| Other operating charges | 640/8 | €998 | €1,378 | +€381 | +38.2% |
| Gross operating margin | 9900 | €40,738 | €101,328 | +€60,590 | +149% |
| Operating profit (loss) | 9901 | €38,480 | €97,585 | +€59,104 | +154% |
| Financial income | 75/76B | €8 | €289 | +€281 | +3,633% |
| Recurring financial income | 75 | €8 | €289 | +€281 | +3,633% |
| Financial charges | 65/66B | €11 | €48 | +€37 | +326% |
| Recurring financial charges | 65 | €11 | €48 | +€37 | +326% |
| Profit (loss) for the period before taxes | 9903 | €38,477 | €97,825 | +€59,349 | +154% |
| Income taxes | 67/77 | €9,101 | €21,436 | +€12,335 | +136% |
| Profit (loss) for the period | 9904 | €29,376 | €76,389 | +€47,014 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €29,376 | €76,389 | +€47,014 | +160% |
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 18 October 2026 via checked.be.