KOEN KINDT: 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 KINDT
Largest movements
- Cash -€53,622
down €53,622 (-56.8%), from €94,348 to €40,726
mainly Contributions, distributions and other (-€111,623) and Receivables within one year (-€12,726)
- Receivables within one year +€12,726
up €12,726 (+89.6%), from €14,202 to €26,928
of which Trade receivables: +€14,815
- Deferred charges and accrued income -€1,596
down €1,596 (-70.5%), from €2,264 to €668
- Reserves -€51,987
down €51,987 (-46.6%), from €111,623 to €59,635
- Advances received +€17,641
new in 2025: €17,641
- Other debts -€6,327
down €6,327 (-89.1%), from €7,102 to €775
- Gross operating margin +€4,008
up €4,008 (+4.9%), from €82,171 to €86,178
- Depreciation +€2,236
up €2,236 (+78.6%), from €2,846 to €5,081
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 | €126,231 | €84,514 | -€41,717 | -33.0% |
| Fixed assets | 21/28 | €15,416 | €16,192 | +€776 | +5.0% |
| Tangible fixed assets | 22/27 | €15,416 | €16,192 | +€776 | +5.0% |
| Land and buildings | 22 | €666 | €2,532 | +€1,866 | +280% |
| Plant, machinery and equipment | 23 | €342 | €234 | -€109 | -31.7% |
| Furniture and vehicles | 24 | €14,408 | €13,427 | -€981 | -6.8% |
| Current assets | 29/58 | €110,815 | €68,322 | -€42,493 | -38.3% |
| Amounts receivable within one year | 40/41 | €14,202 | €26,928 | +€12,726 | +89.6% |
| Trade receivables | 40 | €11,269 | €26,084 | +€14,815 | +131% |
| Other amounts receivable | 41 | €2,933 | €844 | -€2,090 | -71.2% |
| Cash at bank and in hand | 54/58 | €94,348 | €40,726 | -€53,622 | -56.8% |
| Deferred charges and accrued income | 490/1 | €2,264 | €668 | -€1,596 | -70.5% |
| Total equity and liabilities | 10/49 | €126,231 | €84,514 | -€41,717 | -33.0% |
| Equity | 10/15 | €111,723 | €59,735 | -€51,987 | -46.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €111,623 | €59,635 | -€51,987 | -46.6% |
| Distributable reserves | 133 | €111,623 | €59,635 | -€51,987 | -46.6% |
| Amounts payable | 17/49 | €14,508 | €24,779 | +€10,271 | +70.8% |
| Amounts payable within one year | 42/48 | €14,508 | €24,779 | +€10,271 | +70.8% |
| Financial debts | 43 | €5,000 | €5,000 | = | 0.0% |
| Credit institutions | 430/8 | €5,000 | €5,000 | = | 0.0% |
| Trade debts | 44 | €2,002 | €1,302 | -€699 | -34.9% |
| Suppliers | 440/4 | €2,002 | €1,302 | -€699 | -34.9% |
| Advances received on contracts in progress | 46 | - | €17,641 | +€17,641 | |
| Taxes, remuneration and social security | 45 | €405 | €60 | -€345 | -85.1% |
| Taxes | 450/3 | €405 | €60 | -€345 | -85.1% |
| Other amounts payable | 47/48 | €7,102 | €775 | -€6,327 | -89.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,846 | €5,081 | +€2,236 | +78.6% |
| Other operating charges | 640/8 | €387 | €544 | +€156 | +40.4% |
| Gross operating margin | 9900 | €82,171 | €86,178 | +€4,008 | +4.9% |
| Operating profit (loss) | 9901 | €78,937 | €80,553 | +€1,616 | +2.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,275 | €858 | -€417 | -32.7% |
| Recurring financial charges | 65 | €1,275 | €858 | -€417 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | €77,663 | €79,695 | +€2,033 | +2.6% |
| Income taxes | 67/77 | €19,246 | €20,060 | +€814 | +4.2% |
| Profit (loss) for the period | 9904 | €58,416 | €59,635 | +€1,219 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €58,416 | €59,635 | +€1,219 | +2.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.