KOEN NEVENS: 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 NEVENS
Largest movements
- Cash +€54,060
up €54,060 (+32.3%), from €167,353 to €221,414
mainly Net result for the year (+€88,376) and Other debts (+€30,123)
- Receivables within one year +€42,054
up €42,054 (+757%), from €5,558 to €47,612
of which Trade receivables: +€42,427
- Reserves +€87,543
up €87,543 (+4.7%), from €1.9m to €2.0m
- Current portion of long-term debt -€48,761
down €48,761 (-100%), from €48,761 to €0
- Gross operating margin +€114,802
up €114,802 (+106%), from €108,406 to €223,207
- Financial income -€59,362
down €59,362 (-100%), from €59,362 to €0
- Taxes +€18,121
up €18,121 (+85.2%), from €21,272 to €39,393
- Financial charges -€8,626
down €8,626 (-10.8%), from €79,697 to €71,071
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,033,777 | €3,109,791 | +€76,013 | +2.5% |
| Fixed assets | 21/28 | €990,065 | €975,174 | -€14,890 | -1.5% |
| Tangible fixed assets | 22/27 | €989,975 | €975,084 | -€14,890 | -1.5% |
| Land and buildings | 22 | €987,794 | €972,525 | -€15,268 | -1.5% |
| Furniture and vehicles | 24 | €2,181 | €2,559 | +€378 | +17.3% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €2,043,713 | €2,134,616 | +€90,904 | +4.4% |
| Amounts receivable within one year | 40/41 | €5,558 | €47,612 | +€42,054 | +757% |
| Trade receivables | 40 | €12 | €42,440 | +€42,427 | +345,782% |
| Other amounts receivable | 41 | €5,545 | €5,172 | -€373 | -6.7% |
| Current investments | 50/53 | €1,864,055 | €1,864,294 | +€239 | 0.0% |
| Cash at bank and in hand | 54/58 | €167,353 | €221,414 | +€54,060 | +32.3% |
| Deferred charges and accrued income | 490/1 | €6,747 | €1,297 | -€5,450 | -80.8% |
| Total equity and liabilities | 10/49 | €3,033,777 | €3,109,791 | +€76,013 | +2.5% |
| Equity | 10/15 | €1,882,438 | €1,969,981 | +€87,543 | +4.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,881,438 | €1,968,981 | +€87,543 | +4.7% |
| Distributable reserves | 133 | €1,881,438 | €1,968,981 | +€87,543 | +4.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,151,339 | €1,139,809 | -€11,530 | -1.0% |
| Amounts payable after more than one year | 17 | €34,675 | €36,402 | +€1,727 | +5.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €34,675 | €36,402 | +€1,727 | +5.0% |
| Amounts payable within one year | 42/48 | €1,116,402 | €1,099,147 | -€17,255 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €48,761 | €0 | -€48,761 | -100% |
| Trade debts | 44 | €156 | €0 | -€156 | -100% |
| Suppliers | 440/4 | €156 | €0 | -€156 | -100% |
| Taxes, remuneration and social security | 45 | €29,727 | €31,266 | +€1,539 | +5.2% |
| Taxes | 450/3 | €29,727 | €31,266 | +€1,539 | +5.2% |
| Other amounts payable | 47/48 | €1,037,758 | €1,067,881 | +€30,123 | +2.9% |
| Accrued charges and deferred income | 492/3 | €262 | €4,260 | +€3,998 | +1,524% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,722 | €16,908 | -€1,815 | -9.7% |
| Other operating charges | 640/8 | €7,987 | €7,460 | -€527 | -6.6% |
| Gross operating margin | 9900 | €108,406 | €223,207 | +€114,802 | +106% |
| Operating profit (loss) | 9901 | €81,697 | €198,840 | +€117,144 | +143% |
| Financial income | 75/76B | €59,362 | €0 | -€59,362 | -100% |
| Recurring financial income | 75 | €59,362 | €0 | -€59,362 | -100% |
| Financial charges | 65/66B | €79,697 | €71,071 | -€8,626 | -10.8% |
| Recurring financial charges | 65 | €79,697 | €71,071 | -€8,626 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €61,362 | €127,770 | +€66,408 | +108% |
| Income taxes | 67/77 | €21,272 | €39,393 | +€18,121 | +85.2% |
| Profit (loss) for the period | 9904 | €40,089 | €88,376 | +€48,287 | +120% |
| Profit (loss) for the period to be appropriated | 9905 | €40,089 | €88,376 | +€48,287 | +120% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.