KENNETH HUYBRECHTS: what changed
KENNETH HUYBRECHTS
Largest movements
- Tangible fixed assets -€5,095
down €5,095 (-21.5%), from €23,659 to €18,565
of which Leasing and similar rights: -€7,192
- Cash -€2,160
down €2,160 (-3.3%), from €64,688 to €62,528
mainly Contributions, distributions and other (-€138,300) and Debts after one year (-€6,223)
- Reserves -€89,260
down €89,260 (-100.0%), from €89,303 to €43
- Other debts +€75,055
new in 2025: €75,055
- Tax, wage and social debts +€13,704
up €13,704 (+293%), from €4,670 to €18,374
of which Taxes: +€13,704
- Debts after one year -€6,223
down €6,223 (-40.1%), from €15,537 to €9,314
of which Financial debts: -€6,367
- Gross operating margin +€7,176
up €7,176 (+11.1%), from €64,922 to €72,098
- Taxes +€1,420
up €1,420 (+11.5%), from €12,359 to €13,779
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €120,123 | €113,342 | -€6,781 | -5.6% |
| Fixed assets | 21/28 | €23,659 | €18,565 | -€5,095 | -21.5% |
| Tangible fixed assets | 22/27 | €23,659 | €18,565 | -€5,095 | -21.5% |
| Furniture and vehicles | 24 | €231 | €2,328 | +€2,097 | +908% |
| Leasing and similar rights | 25 | €23,428 | €16,236 | -€7,192 | -30.7% |
| Current assets | 29/58 | €96,464 | €94,778 | -€1,687 | -1.7% |
| Amounts receivable within one year | 40/41 | €0 | €432 | +€432 | |
| Other amounts receivable | 41 | €0 | €432 | +€432 | |
| Current investments | 50/53 | €30,000 | €30,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €64,688 | €62,528 | -€2,160 | -3.3% |
| Deferred charges and accrued income | 490/1 | €1,776 | €1,817 | +€41 | +2.3% |
| Total equity and liabilities | 10/49 | €120,123 | €113,342 | -€6,781 | -5.6% |
| Equity | 10/15 | €91,803 | €2,543 | -€89,260 | -97.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €89,303 | €43 | -€89,260 | -100.0% |
| Distributable reserves | 133 | €89,303 | €43 | -€89,260 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €28,321 | €110,800 | +€82,479 | +291% |
| Amounts payable after more than one year | 17 | €15,537 | €9,314 | -€6,223 | -40.1% |
| Financial debts | 170/4 | €14,697 | €8,330 | -€6,367 | -43.3% |
| Other amounts payable | 178/9 | €840 | €984 | +€144 | +17.2% |
| Amounts payable within one year | 42/48 | €12,784 | €101,486 | +€88,702 | +694% |
| Current portion of amounts payable after more than one year | 42 | €6,114 | €6,367 | +€253 | +4.1% |
| Trade debts | 44 | €2,000 | €1,690 | -€310 | -15.5% |
| Suppliers | 440/4 | €2,000 | €1,690 | -€310 | -15.5% |
| Taxes, remuneration and social security | 45 | €4,670 | €18,374 | +€13,704 | +293% |
| Taxes | 450/3 | €2,670 | €16,374 | +€13,704 | +513% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | - | €75,055 | +€75,055 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,444 | €7,590 | +€145 | +2.0% |
| Other operating charges | 640/8 | €1,454 | €1,503 | +€48 | +3.3% |
| Gross operating margin | 9900 | €64,922 | €72,098 | +€7,176 | +11.1% |
| Operating profit (loss) | 9901 | €56,023 | €63,006 | +€6,983 | +12.5% |
| Financial income | 75/76B | €29 | €703 | +€674 | +2,314% |
| Recurring financial income | 75 | €29 | €703 | +€674 | +2,314% |
| Financial charges | 65/66B | €1,182 | €890 | -€291 | -24.7% |
| Recurring financial charges | 65 | €1,182 | €890 | -€291 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €54,871 | €62,819 | +€7,948 | +14.5% |
| Income taxes | 67/77 | €12,359 | €13,779 | +€1,420 | +11.5% |
| Profit (loss) for the period | 9904 | €42,512 | €49,040 | +€6,528 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €42,512 | €49,040 | +€6,528 | +15.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.