Koen Permentier: 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 Permentier
Largest movements
- Tangible fixed assets +€113,305
up €113,305 (+225%), from €50,303 to €163,608
of which Land and buildings: +€127,970
- Cash -€19,713
down €19,713 (-15.5%), from €127,219 to €107,506
mainly Investment in fixed assets (net) (-€138,384) and Contributions, distributions and other (-€61,176)
- Receivables within one year -€10,498
down €10,498 (-100%), from €10,498 to €0
- Debts after one year +€79,255
up €79,255 (+232%), from €34,132 to €113,387
- Other debts +€25,965
up €25,965 (+7,145%), from €363 to €26,329
- Reserves -€20,573
down €20,573 (-20.2%), from €101,888 to €81,315
- Tax, wage and social debts -€6,934
down €6,934 (-30.0%), from €23,121 to €16,187
- Current portion of long-term debt +€5,516
up €5,516 (+42.1%), from €13,113 to €18,628
- Other operating charges +€11,333
up €11,333 (+2,528%), from €448 to €11,782
- Depreciation +€10,414
up €10,414 (+71.0%), from €14,665 to €25,079
- Taxes -€4,951
down €4,951 (-31.8%), from €15,570 to €10,619
- Financial charges +€1,521
up €1,521 (+110%), from €1,377 to €2,898
- Gross operating margin -€1,226
down €1,226 (-1.3%), from €91,141 to €89,916
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 | €188,019 | €271,114 | +€83,095 | +44.2% |
| Fixed assets | 21/28 | €50,303 | €163,608 | +€113,305 | +225% |
| Tangible fixed assets | 22/27 | €50,303 | €163,608 | +€113,305 | +225% |
| Land and buildings | 22 | - | €127,970 | +€127,970 | |
| Furniture and vehicles | 24 | €50,303 | €35,638 | -€14,665 | -29.2% |
| Current assets | 29/58 | €137,717 | €107,506 | -€30,210 | -21.9% |
| Amounts receivable within one year | 40/41 | €10,498 | €0 | -€10,498 | -100% |
| Trade receivables | 40 | €10,498 | €0 | -€10,498 | -100% |
| Cash at bank and in hand | 54/58 | €127,219 | €107,506 | -€19,713 | -15.5% |
| Total equity and liabilities | 10/49 | €188,019 | €271,114 | +€83,095 | +44.2% |
| Equity | 10/15 | €116,888 | €96,315 | -€20,573 | -17.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €101,888 | €81,315 | -€20,573 | -20.2% |
| Distributable reserves | 133 | €101,888 | €81,315 | -€20,573 | -20.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €71,131 | €174,799 | +€103,668 | +146% |
| Amounts payable after more than one year | 17 | €34,132 | €113,387 | +€79,255 | +232% |
| Financial debts | 170/4 | €34,132 | €113,387 | +€79,255 | +232% |
| Amounts payable within one year | 42/48 | €37,000 | €61,413 | +€24,413 | +66.0% |
| Current portion of amounts payable after more than one year | 42 | €13,113 | €18,628 | +€5,516 | +42.1% |
| Trade debts | 44 | €402 | €269 | -€134 | -33.2% |
| Suppliers | 440/4 | €402 | €269 | -€134 | -33.2% |
| Taxes, remuneration and social security | 45 | €23,121 | €16,187 | -€6,934 | -30.0% |
| Taxes | 450/3 | €23,121 | €16,187 | -€6,934 | -30.0% |
| Other amounts payable | 47/48 | €363 | €26,329 | +€25,965 | +7,145% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,665 | €25,079 | +€10,414 | +71.0% |
| Other operating charges | 640/8 | €448 | €11,782 | +€11,333 | +2,528% |
| Gross operating margin | 9900 | €91,141 | €89,916 | -€1,226 | -1.3% |
| Operating profit (loss) | 9901 | €76,028 | €53,055 | -€22,973 | -30.2% |
| Financial income | 75/76B | €1,141 | €1,065 | -€76 | -6.6% |
| Recurring financial income | 75 | €1,141 | €1,065 | -€76 | -6.6% |
| Financial charges | 65/66B | €1,377 | €2,898 | +€1,521 | +110% |
| Recurring financial charges | 65 | €1,377 | €2,898 | +€1,521 | +110% |
| Profit (loss) for the period before taxes | 9903 | €75,792 | €51,222 | -€24,570 | -32.4% |
| Income taxes | 67/77 | €15,570 | €10,619 | -€4,951 | -31.8% |
| Profit (loss) for the period | 9904 | €60,222 | €40,603 | -€19,619 | -32.6% |
| Profit (loss) for the period to be appropriated | 9905 | €60,222 | €40,603 | -€19,619 | -32.6% |
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 18 October 2026 via checked.be.