Koen De Cock: what changed
Koen De Cock
Largest movements
- Receivables within one year -€43,000
down €43,000 (-74.5%), from €57,691 to €14,691
of which Other amounts receivable: -€44,473
- Cash -€7,947
down €7,947 (-1.6%), from €484,505 to €476,558
mainly Net result for the year (-€45,681) and Tax, wage and social debts (-€10,844)
- Reserves -€45,681
down €45,681 (-8.3%), from €547,730 to €502,049
- Tax, wage and social debts -€10,844
down €10,844 (-30.8%), from €35,159 to €24,315
of which Taxes: -€10,647
- Gross operating margin -€620,398
down €620,398, from €568,955 to -€51,443
- Taxes -€170,375
down €170,375 (-99.9%), from €170,537 to €162
- Financial income +€8,261
up €8,261 (+125%), from €6,594 to €14,855
- Staff costs -€6,298
down €6,298 (-66.8%), from €9,424 to €3,125
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 | €593,175 | €538,163 | -€55,012 | -9.3% |
| Fixed assets | 21/28 | €50,103 | €45,057 | -€5,046 | -10.1% |
| Tangible fixed assets | 22/27 | €50,103 | €45,057 | -€5,046 | -10.1% |
| Land and buildings | 22 | €28,545 | €27,515 | -€1,030 | -3.6% |
| Plant, machinery and equipment | 23 | €11,312 | €9,615 | -€1,697 | -15.0% |
| Furniture and vehicles | 24 | €2,645 | €1,478 | -€1,166 | -44.1% |
| Other tangible fixed assets | 26 | €7,602 | €6,449 | -€1,153 | -15.2% |
| Current assets | 29/58 | €543,072 | €493,106 | -€49,966 | -9.2% |
| Amounts receivable within one year | 40/41 | €57,691 | €14,691 | -€43,000 | -74.5% |
| Trade receivables | 40 | €1,853 | €3,325 | +€1,473 | +79.5% |
| Other amounts receivable | 41 | €55,839 | €11,366 | -€44,473 | -79.6% |
| Cash at bank and in hand | 54/58 | €484,505 | €476,558 | -€7,947 | -1.6% |
| Deferred charges and accrued income | 490/1 | €876 | €1,857 | +€981 | +112% |
| Total equity and liabilities | 10/49 | €593,175 | €538,163 | -€55,012 | -9.3% |
| Equity | 10/15 | €557,730 | €512,049 | -€45,681 | -8.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €547,730 | €502,049 | -€45,681 | -8.3% |
| Distributable reserves | 133 | €547,730 | €502,049 | -€45,681 | -8.3% |
| Amounts payable | 17/49 | €35,445 | €26,114 | -€9,331 | -26.3% |
| Amounts payable within one year | 42/48 | €35,445 | €26,114 | -€9,331 | -26.3% |
| Trade debts | 44 | €286 | €1,799 | +€1,513 | +529% |
| Suppliers | 440/4 | €286 | €1,799 | +€1,513 | +529% |
| Taxes, remuneration and social security | 45 | €35,159 | €24,315 | -€10,844 | -30.8% |
| Taxes | 450/3 | €34,962 | €24,315 | -€10,647 | -30.5% |
| Remuneration and social security | 454/9 | €197 | - | -€197 | |
| Remuneration, social security and pensions | 62 | €9,424 | €3,125 | -€6,298 | -66.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,938 | €5,046 | +€108 | +2.2% |
| Other operating charges | 640/8 | €697 | €664 | -€32 | -4.7% |
| Non-recurring operating charges | 66A | €192 | - | -€192 | |
| Gross operating margin | 9900 | €568,955 | -€51,443 | -€620,398 | |
| Operating profit (loss) | 9901 | €553,704 | -€60,279 | -€613,983 | |
| Financial income | 75/76B | €6,594 | €14,855 | +€8,261 | +125% |
| Recurring financial income | 75 | €6,594 | €14,855 | +€8,261 | +125% |
| Financial charges | 65/66B | €144 | €96 | -€49 | -33.8% |
| Recurring financial charges | 65 | €144 | €96 | -€49 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €560,154 | -€45,519 | -€605,673 | |
| Income taxes | 67/77 | €170,537 | €162 | -€170,375 | -99.9% |
| Profit (loss) for the period | 9904 | €389,617 | -€45,681 | -€435,299 | |
| Profit (loss) for the period to be appropriated | 9905 | €389,617 | -€45,681 | -€435,299 |
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 5 November 2026 via checked.be.