KOEN HENS: what changed
Two fiscal 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 HENS
Largest movements
- Tangible fixed assets -€445,775
down €445,775 (-84.9%), from €525,065 to €79,290
of which Land and buildings: -€385,293
- Receivables within one year -€60,629
down €60,629 (-32.8%), from €184,787 to €124,158
of which Trade receivables: -€184,787
- Cash -€58,046
down €58,046 (-26.5%), from €219,024 to €160,978
mainly Contributions, distributions and other (-€579,228) and Other debts (-€476,397)
- Other debts -€476,397
down €476,397 (-72.7%), from €655,625 to €179,228
- Tax, wage and social debts -€60,514
down €60,514 (-56.9%), from €106,266 to €45,753
- Profit (loss) carried forward -€28,473
no longer reported in 2025 (was €28,473)
- Gross operating margin +€76,260
up €76,260 (+11.2%), from €679,857 to €756,117
- Taxes +€22,619
up €22,619 (+14.1%), from €160,008 to €182,627
- Depreciation -€15,817
down €15,817 (-42.5%), from €37,204 to €21,386
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.
Cash bridge derived
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 | €933,141 | €367,732 | -€565,409 | -60.6% |
| Fixed assets | 21/28 | €525,065 | €79,290 | -€445,775 | -84.9% |
| Tangible fixed assets | 22/27 | €525,065 | €79,290 | -€445,775 | -84.9% |
| Land and buildings | 22 | €385,293 | - | -€385,293 | |
| Plant, machinery and equipment | 23 | €41,747 | €1,789 | -€39,958 | -95.7% |
| Furniture and vehicles | 24 | €98,025 | €77,501 | -€20,524 | -20.9% |
| Current assets | 29/58 | €408,076 | €288,442 | -€119,634 | -29.3% |
| Amounts receivable within one year | 40/41 | €184,787 | €124,158 | -€60,629 | -32.8% |
| Trade receivables | 40 | €184,787 | - | -€184,787 | |
| Other amounts receivable | 41 | - | €124,158 | +€124,158 | |
| Cash at bank and in hand | 54/58 | €219,024 | €160,978 | -€58,046 | -26.5% |
| Deferred charges and accrued income | 490/1 | €4,265 | €3,306 | -€958 | -22.5% |
| Total equity and liabilities | 10/49 | €933,141 | €367,732 | -€565,409 | -60.6% |
| Equity | 10/15 | €164,873 | €136,400 | -€28,473 | -17.3% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €12,400 | €12,400 | = | 0.0% |
| Distributable reserves | 133 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,473 | - | -€28,473 | |
| Amounts payable | 17/49 | €768,267 | €231,332 | -€536,935 | -69.9% |
| Amounts payable within one year | 42/48 | €768,267 | €231,332 | -€536,935 | -69.9% |
| Trade debts | 44 | €6,376 | €6,351 | -€25 | -0.4% |
| Suppliers | 440/4 | €6,376 | €6,351 | -€25 | -0.4% |
| Taxes, remuneration and social security | 45 | €106,266 | €45,753 | -€60,514 | -56.9% |
| Taxes | 450/3 | €106,266 | €45,753 | -€60,514 | -56.9% |
| Other amounts payable | 47/48 | €655,625 | €179,228 | -€476,397 | -72.7% |
| Non-recurring operating income | 76A | €18,557 | €515,651 | +€497,095 | +2678.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,204 | €21,386 | -€15,817 | -42.5% |
| Other operating charges | 640/8 | €4,686 | €1,289 | -€3,398 | -72.5% |
| Gross operating margin | 9900 | €679,857 | €756,117 | +€76,260 | +11.2% |
| Operating profit (loss) | 9901 | €637,966 | €733,442 | +€95,476 | +15.0% |
| Financial income | 75/76B | €6,752 | €45 | -€6,707 | -99.3% |
| Recurring financial income | 75 | €6,752 | €45 | -€6,707 | -99.3% |
| Financial charges | 65/66B | €253 | €105 | -€148 | -58.5% |
| Recurring financial charges | 65 | €253 | €105 | -€148 | -58.5% |
| Profit (loss) for the period before taxes | 9903 | €644,466 | €733,382 | +€88,916 | +13.8% |
| Income taxes | 67/77 | €160,008 | €182,627 | +€22,619 | +14.1% |
| Profit (loss) for the period | 9904 | €484,458 | €550,755 | +€66,297 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €484,458 | €550,755 | +€66,297 | +13.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.