KOEN LIPPENS: 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 LIPPENS
Largest movements
- Receivables within one year -€58,290
down €58,290 (-56.3%), from €103,481 to €45,191
of which Other amounts receivable: -€32,016
- Deferred charges and accrued income +€41,621
up €41,621 (+1,127%), from €3,692 to €45,313
- Cash +€39,826
up €39,826 (+11.8%), from €336,957 to €376,783
mainly Receivables within one year (+€58,290) and Depreciation (+€55,723)
- Tangible fixed assets +€16,914
up €16,914 (+13.9%), from €122,032 to €138,946
of which Furniture and vehicles: +€59,584
- Other debts -€47,806
down €47,806 (-90.7%), from €52,737 to €4,931
- Trade debts +€39,729
up €39,729 (+177%), from €22,453 to €62,182
- Reserves +€36,171
up €36,171 (+7.6%), from €478,077 to €514,248
- Tax, wage and social debts +€8,422
up €8,422 (+1,698%), from €496 to €8,919
- Gross operating margin +€31,187
up €31,187 (+30.4%), from €102,490 to €133,677
- Taxes +€8,946
up €8,946 (+57.7%), from €15,505 to €24,451
- Other operating charges +€1,655
up €1,655 (+159%), from €1,038 to €2,693
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 | €566,163 | €606,234 | +€40,071 | +7.1% |
| Fixed assets | 21/28 | €122,032 | €138,946 | +€16,914 | +13.9% |
| Tangible fixed assets | 22/27 | €122,032 | €138,946 | +€16,914 | +13.9% |
| Plant, machinery and equipment | 23 | €115,515 | €72,845 | -€42,670 | -36.9% |
| Furniture and vehicles | 24 | €6,517 | €66,101 | +€59,584 | +914% |
| Current assets | 29/58 | €444,131 | €467,288 | +€23,157 | +5.2% |
| Amounts receivable within one year | 40/41 | €103,481 | €45,191 | -€58,290 | -56.3% |
| Trade receivables | 40 | €71,465 | €45,191 | -€26,274 | -36.8% |
| Other amounts receivable | 41 | €32,016 | €0 | -€32,016 | -100% |
| Cash at bank and in hand | 54/58 | €336,957 | €376,783 | +€39,826 | +11.8% |
| Deferred charges and accrued income | 490/1 | €3,692 | €45,313 | +€41,621 | +1,127% |
| Total equity and liabilities | 10/49 | €566,163 | €606,234 | +€40,071 | +7.1% |
| Equity | 10/15 | €490,477 | €526,648 | +€36,171 | +7.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €478,077 | €514,248 | +€36,171 | +7.6% |
| Distributable reserves | 133 | €478,077 | €514,248 | +€36,171 | +7.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €75,686 | €79,586 | +€3,900 | +5.2% |
| Amounts payable within one year | 42/48 | €75,686 | €76,031 | +€345 | +0.5% |
| Trade debts | 44 | €22,453 | €62,182 | +€39,729 | +177% |
| Suppliers | 440/4 | €22,453 | €62,182 | +€39,729 | +177% |
| Taxes, remuneration and social security | 45 | €496 | €8,919 | +€8,422 | +1,698% |
| Taxes | 450/3 | €496 | €8,919 | +€8,422 | +1,698% |
| Other amounts payable | 47/48 | €52,737 | €4,931 | -€47,806 | -90.7% |
| Accrued charges and deferred income | 492/3 | - | €3,555 | +€3,555 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,782 | €55,723 | +€941 | +1.7% |
| Other operating charges | 640/8 | €1,038 | €2,693 | +€1,655 | +159% |
| Gross operating margin | 9900 | €102,490 | €133,677 | +€31,187 | +30.4% |
| Operating profit (loss) | 9901 | €46,669 | €75,260 | +€28,591 | +61.3% |
| Financial income | 75/76B | €30 | €36 | +€6 | +20.7% |
| Recurring financial income | 75 | €30 | €36 | +€6 | +20.7% |
| Financial charges | 65/66B | €39 | €113 | +€73 | +187% |
| Recurring financial charges | 65 | €39 | €113 | +€73 | +187% |
| Profit (loss) for the period before taxes | 9903 | €46,660 | €75,184 | +€28,524 | +61.1% |
| Income taxes | 67/77 | €15,505 | €24,451 | +€8,946 | +57.7% |
| Profit (loss) for the period | 9904 | €31,155 | €50,733 | +€19,578 | +62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,155 | €50,733 | +€19,578 | +62.8% |
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 23 October 2026 via checked.be.