KOEN DENIES: 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 DENIES
Largest movements
- Cash -€100,975
down €100,975 (-91.9%), from €109,871 to €8,895
mainly Other debts (-€121,350) and Investment in fixed assets (net) (-€65,103)
- Tangible fixed assets +€55,157
up €55,157 (+245%), from €22,524 to €77,681
of which Furniture and vehicles: +€47,516
- Receivables within one year +€20,092
up €20,092 (+84.2%), from €23,848 to €43,940
of which Trade receivables: +€18,527
- Other debts -€121,350
down €121,350 (-94.7%), from €128,087 to €6,736
- Profit (loss) carried forward +€98,831
up €98,831 (+988,313,500%), from €0 to €98,831
- Tax, wage and social debts -€2,424
down €2,424 (-33.7%), from €7,202 to €4,778
- Gross operating margin -€19,131
down €19,131 (-12.0%), from €159,442 to €140,311
- Taxes -€6,674
down €6,674 (-19.8%), from €33,668 to €26,994
- Depreciation +€4,269
up €4,269 (+75.2%), from €5,677 to €9,946
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 | €156,243 | €130,516 | -€25,727 | -16.5% |
| Fixed assets | 21/28 | €22,524 | €77,681 | +€55,157 | +245% |
| Tangible fixed assets | 22/27 | €22,524 | €77,681 | +€55,157 | +245% |
| Furniture and vehicles | 24 | €1,284 | €48,800 | +€47,516 | +3,699% |
| Other tangible fixed assets | 26 | €21,240 | €28,881 | +€7,642 | +36.0% |
| Current assets | 29/58 | €133,719 | €52,835 | -€80,884 | -60.5% |
| Amounts receivable within one year | 40/41 | €23,848 | €43,940 | +€20,092 | +84.2% |
| Trade receivables | 40 | €22,406 | €40,933 | +€18,527 | +82.7% |
| Other amounts receivable | 41 | €1,442 | €3,007 | +€1,565 | +109% |
| Cash at bank and in hand | 54/58 | €109,871 | €8,895 | -€100,975 | -91.9% |
| Total equity and liabilities | 10/49 | €156,243 | €130,516 | -€25,727 | -16.5% |
| Equity | 10/15 | €18,550 | €117,381 | +€98,831 | +533% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €98,831 | +€98,831 | +988,313,500% |
| Amounts payable | 17/49 | €137,693 | €13,135 | -€124,558 | -90.5% |
| Amounts payable within one year | 42/48 | €137,693 | €13,135 | -€124,558 | -90.5% |
| Trade debts | 44 | €2,404 | €1,621 | -€783 | -32.6% |
| Suppliers | 440/4 | €2,404 | €1,621 | -€783 | -32.6% |
| Taxes, remuneration and social security | 45 | €7,202 | €4,778 | -€2,424 | -33.7% |
| Taxes | 450/3 | €7,202 | €4,778 | -€2,424 | -33.7% |
| Other amounts payable | 47/48 | €128,087 | €6,736 | -€121,350 | -94.7% |
| Non-recurring operating income | 76A | - | €9,000 | +€9,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,677 | €9,946 | +€4,269 | +75.2% |
| Other operating charges | 640/8 | €1,328 | €1,503 | +€175 | +13.2% |
| Gross operating margin | 9900 | €159,442 | €140,311 | -€19,131 | -12.0% |
| Operating profit (loss) | 9901 | €152,438 | €128,862 | -€23,576 | -15.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,881 | €3,037 | +€156 | +5.4% |
| Recurring financial charges | 65 | €2,881 | €3,037 | +€156 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €149,556 | €125,825 | -€23,732 | -15.9% |
| Income taxes | 67/77 | €33,668 | €26,994 | -€6,674 | -19.8% |
| Profit (loss) for the period | 9904 | €115,889 | €98,831 | -€17,058 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €115,889 | €98,831 | -€17,058 | -14.7% |
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 29 October 2026 via checked.be.