Koen Ronsmans: 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 Ronsmans
Largest movements
- Cash -€26,908
down €26,908 (-99.6%), from €27,005 to €97
mainly Investment in fixed assets (net) (-€27,359) and Net result for the year (-€14,414)
- Receivables within one year -€16,255
down €16,255 (-50.3%), from €32,343 to €16,088
of which Other amounts receivable: -€14,286
- Tangible fixed assets +€13,092
up €13,092 (+42.4%), from €30,890 to €43,982
of which Furniture and vehicles: +€14,254
- Stocks and contracts +€10,635
up €10,635 (+967%), from €1,100 to €11,735
- Deferred charges and accrued income +€1,194
new in 2025: €1,194
- Profit (loss) carried forward -€14,414
new in 2025: -€14,414
- Debts after one year -€8,107
down €8,107 (-38.2%), from €21,204 to €13,097
- Short-term financial debts +€6,503
up €6,503 (+113%), from €5,732 to €12,235
- Trade debts -€4,625
down €4,625 (-81.6%), from €5,666 to €1,040
- Accrued charges and deferred income +€2,209
up €2,209 (+46.1%), from €4,788 to €6,997
- Gross operating margin -€44,485
down €44,485 (-94.2%), from €47,238 to €2,753
- Taxes -€9,099
down €9,099 (-99.1%), from €9,180 to €81
- Depreciation +€8,073
up €8,073 (+130%), from €6,194 to €14,267
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 | €91,338 | €73,097 | -€18,241 | -20.0% |
| Fixed assets | 21/28 | €30,890 | €43,982 | +€13,092 | +42.4% |
| Tangible fixed assets | 22/27 | €30,890 | €43,982 | +€13,092 | +42.4% |
| Plant, machinery and equipment | 23 | €1,549 | €387 | -€1,162 | -75.0% |
| Furniture and vehicles | 24 | €29,341 | €43,595 | +€14,254 | +48.6% |
| Current assets | 29/58 | €60,448 | €29,115 | -€31,333 | -51.8% |
| Stocks and contracts in progress | 3 | €1,100 | €11,735 | +€10,635 | +967% |
| Stocks | 30/36 | €1,100 | €11,735 | +€10,635 | +967% |
| Amounts receivable within one year | 40/41 | €32,343 | €16,088 | -€16,255 | -50.3% |
| Trade receivables | 40 | €2,870 | €901 | -€1,968 | -68.6% |
| Other amounts receivable | 41 | €29,473 | €15,187 | -€14,286 | -48.5% |
| Cash at bank and in hand | 54/58 | €27,005 | €97 | -€26,908 | -99.6% |
| Deferred charges and accrued income | 490/1 | - | €1,194 | +€1,194 | |
| Total equity and liabilities | 10/49 | €91,338 | €73,097 | -€18,241 | -20.0% |
| Equity | 10/15 | €41,181 | €26,767 | -€14,414 | -35.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,581 | €22,581 | = | 0.0% |
| Distributable reserves | 133 | €22,581 | €22,581 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€14,414 | -€14,414 | |
| Amounts payable | 17/49 | €50,157 | €46,330 | -€3,827 | -7.6% |
| Amounts payable after more than one year | 17 | €21,204 | €13,097 | -€8,107 | -38.2% |
| Financial debts | 170/4 | €21,204 | €13,097 | -€8,107 | -38.2% |
| Amounts payable within one year | 42/48 | €24,165 | €26,236 | +€2,072 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €7,641 | €8,107 | +€466 | +6.1% |
| Financial debts | 43 | €5,732 | €12,235 | +€6,503 | +113% |
| Credit institutions | 430/8 | €5,732 | €12,235 | +€6,503 | +113% |
| Trade debts | 44 | €5,666 | €1,040 | -€4,625 | -81.6% |
| Suppliers | 440/4 | €5,666 | €1,040 | -€4,625 | -81.6% |
| Taxes, remuneration and social security | 45 | €5,126 | €4,804 | -€322 | -6.3% |
| Taxes | 450/3 | €5,126 | €2,258 | -€2,868 | -55.9% |
| Remuneration and social security | 454/9 | - | €2,546 | +€2,546 | |
| Other amounts payable | 47/48 | - | €51 | +€51 | |
| Accrued charges and deferred income | 492/3 | €4,788 | €6,997 | +€2,209 | +46.1% |
| Remuneration, social security and pensions | 62 | €126 | -€10 | -€136 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,194 | €14,267 | +€8,073 | +130% |
| Other operating charges | 640/8 | €889 | €512 | -€378 | -42.5% |
| Gross operating margin | 9900 | €47,238 | €2,753 | -€44,485 | -94.2% |
| Operating profit (loss) | 9901 | €40,029 | -€12,016 | -€52,044 | |
| Financial income | 75/76B | €403 | €265 | -€138 | -34.2% |
| Recurring financial income | 75 | €403 | €265 | -€138 | -34.2% |
| Financial charges | 65/66B | €2,398 | €2,582 | +€184 | +7.7% |
| Recurring financial charges | 65 | €2,398 | €2,582 | +€184 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €38,034 | -€14,333 | -€52,367 | |
| Income taxes | 67/77 | €9,180 | €81 | -€9,099 | -99.1% |
| Profit (loss) for the period | 9904 | €28,854 | -€14,414 | -€43,268 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,854 | -€14,414 | -€43,268 |
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 30 October 2026 via checked.be.