Koen De Knibber: 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.
Koen De Knibber
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€43,901
down €43,901 (-84.9%), from €51,703 to €7,802
- Taxes -€11,558
down €11,558 (-97.3%), from €11,883 to €325
- Depreciation -€5,028
down €5,028 (-31.4%), from €15,991 to €10,963
- Financial income +€846
up €846 (+22.9%), from €3,698 to €4,543
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 | €1,503,879 | €1,491,483 | -€12,396 | -0.8% |
| Fixed assets | 21/28 | €12,504 | €1,541 | -€10,963 | -87.7% |
| Tangible fixed assets | 22/27 | €12,404 | €1,441 | -€10,963 | -88.4% |
| Plant, machinery and equipment | 23 | €1,997 | - | -€1,997 | |
| Furniture and vehicles | 24 | €10,407 | €1,441 | -€8,966 | -86.2% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €1,491,375 | €1,489,942 | -€1,433 | -0.1% |
| Amounts receivable within one year | 40/41 | €105,871 | €93,040 | -€12,832 | -12.1% |
| Trade receivables | 40 | €103,211 | €85,406 | -€17,805 | -17.3% |
| Other amounts receivable | 41 | €2,660 | €7,634 | +€4,973 | +187% |
| Current investments | 50/53 | €821,519 | €824,690 | +€3,172 | +0.4% |
| Cash at bank and in hand | 54/58 | €557,714 | €563,013 | +€5,299 | +1.0% |
| Deferred charges and accrued income | 490/1 | €6,271 | €9,198 | +€2,928 | +46.7% |
| Total equity and liabilities | 10/49 | €1,503,879 | €1,491,483 | -€12,396 | -0.8% |
| Equity | 10/15 | €1,485,793 | €1,485,277 | -€517 | 0.0% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €1,416,014 | €1,416,014 | = | 0.0% |
| Non-distributable reserves | 130/1 | €77,300 | €77,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €77,300 | €77,300 | = | 0.0% |
| Distributable reserves | 133 | €1,338,714 | €1,338,714 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,779 | €29,262 | -€517 | -1.7% |
| Amounts payable | 17/49 | €18,085 | €6,206 | -€11,880 | -65.7% |
| Amounts payable within one year | 42/48 | €18,085 | €6,206 | -€11,880 | -65.7% |
| Trade debts | 44 | €674 | €802 | +€128 | +19.1% |
| Suppliers | 440/4 | €674 | €802 | +€128 | +19.1% |
| Taxes, remuneration and social security | 45 | €17,412 | €5,404 | -€12,008 | -69.0% |
| Taxes | 450/3 | €15,060 | €3,038 | -€12,022 | -79.8% |
| Remuneration and social security | 454/9 | €2,351 | €2,365 | +€14 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,991 | €10,963 | -€5,028 | -31.4% |
| Other operating charges | 640/8 | €1,518 | €1,281 | -€237 | -15.6% |
| Gross operating margin | 9900 | €51,703 | €7,802 | -€43,901 | -84.9% |
| Operating profit (loss) | 9901 | €34,194 | -€4,442 | -€38,636 | |
| Financial income | 75/76B | €3,698 | €4,543 | +€846 | +22.9% |
| Recurring financial income | 75 | €3,698 | €4,543 | +€846 | +22.9% |
| Financial charges | 65/66B | €294 | €293 | -€1 | -0.3% |
| Recurring financial charges | 65 | €294 | €293 | -€1 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €37,598 | -€192 | -€37,789 | |
| Income taxes | 67/77 | €11,883 | €325 | -€11,558 | -97.3% |
| Profit (loss) for the period | 9904 | €25,714 | -€517 | -€26,231 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,714 | -€517 | -€26,231 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.