KOEN STANDAERT: 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 STANDAERT
Largest movements
- Stocks and contracts -€40,750
down €40,750 (-44.4%), from €91,850 to €51,100
of which Contracts in progress: -€34,550
- Receivables within one year +€32,325
up €32,325 (+22.6%), from €143,349 to €175,675
of which Trade receivables: +€30,465
- Cash +€21,235
up €21,235 (+616%), from €3,448 to €24,683
mainly Other debts (+€41,790) and Stocks and contracts (+€40,750)
- Other debts +€41,790
up €41,790 (+40.2%), from €103,998 to €145,787
- Tax, wage and social debts -€39,198
down €39,198 (-92.9%), from €42,212 to €3,014
of which Remuneration and social security: -€40,000
- Reserves +€7,609
up €7,609 (+9.9%), from €76,870 to €84,478
of which Distributable reserves: +€7,609
- Trade debts +€6,291
up €6,291 (+168%), from €3,752 to €10,043
- Gross operating margin +€8,848
up €8,848 (+114%), from €7,728 to €16,576
- Financial charges +€3,958
up €3,958 (+1,829%), from €216 to €4,175
- Taxes +€1,957
up €1,957 (+160%), from €1,226 to €3,183
- Other operating charges -€775
down €775 (-34.5%), from €2,247 to €1,473
- Financial income +€530
up €530 (+95.9%), from €553 to €1,083
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 | €331,662 | €348,153 | +€16,491 | +5.0% |
| Fixed assets | 21/28 | €1,175 | €2,706 | +€1,530 | +130% |
| Tangible fixed assets | 22/27 | €1,175 | €2,706 | +€1,530 | +130% |
| Plant, machinery and equipment | 23 | €489 | €2,478 | +€1,989 | +407% |
| Furniture and vehicles | 24 | €610 | €228 | -€382 | -62.7% |
| Other tangible fixed assets | 26 | €76 | €0 | -€76 | -100% |
| Current assets | 29/58 | €330,487 | €345,448 | +€14,960 | +4.5% |
| Stocks and contracts in progress | 3 | €91,850 | €51,100 | -€40,750 | -44.4% |
| Stocks | 30/36 | €14,100 | €7,900 | -€6,200 | -44.0% |
| Contracts in progress | 37 | €77,750 | €43,200 | -€34,550 | -44.4% |
| Amounts receivable within one year | 40/41 | €143,349 | €175,675 | +€32,325 | +22.6% |
| Trade receivables | 40 | €141,721 | €172,186 | +€30,465 | +21.5% |
| Other amounts receivable | 41 | €1,628 | €3,488 | +€1,861 | +114% |
| Current investments | 50/53 | €89,099 | €90,833 | +€1,734 | +1.9% |
| Cash at bank and in hand | 54/58 | €3,448 | €24,683 | +€21,235 | +616% |
| Deferred charges and accrued income | 490/1 | €2,741 | €3,157 | +€415 | +15.2% |
| Total equity and liabilities | 10/49 | €331,662 | €348,153 | +€16,491 | +5.0% |
| Equity | 10/15 | €180,713 | €188,322 | +€7,609 | +4.2% |
| Contributions | 10/11 | €88,835 | €88,835 | = | 0.0% |
| Reserves | 13 | €76,870 | €84,478 | +€7,609 | +9.9% |
| Non-distributable reserves | 130/1 | €8,883 | €8,883 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,883 | €8,883 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,210 | €1,210 | = | 0.0% |
| Distributable reserves | 133 | €66,776 | €74,385 | +€7,609 | +11.4% |
| Profit (loss) carried forward | 14 | €15,009 | €15,009 | = | 0.0% |
| Provisions and deferred taxes | 16 | €387 | €387 | = | 0.0% |
| Deferred taxes | 168 | €387 | €387 | = | 0.0% |
| Amounts payable | 17/49 | €150,562 | €159,444 | +€8,882 | +5.9% |
| Amounts payable within one year | 42/48 | €149,962 | €158,844 | +€8,882 | +5.9% |
| Trade debts | 44 | €3,752 | €10,043 | +€6,291 | +168% |
| Suppliers | 440/4 | €3,752 | €10,043 | +€6,291 | +168% |
| Taxes, remuneration and social security | 45 | €42,212 | €3,014 | -€39,198 | -92.9% |
| Taxes | 450/3 | €2,212 | €3,014 | +€802 | +36.2% |
| Remuneration and social security | 454/9 | €40,000 | €0 | -€40,000 | -100% |
| Other amounts payable | 47/48 | €103,998 | €145,787 | +€41,790 | +40.2% |
| Accrued charges and deferred income | 492/3 | €600 | €600 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,084 | €1,220 | +€136 | +12.6% |
| Other operating charges | 640/8 | €2,247 | €1,473 | -€775 | -34.5% |
| Gross operating margin | 9900 | €7,728 | €16,576 | +€8,848 | +114% |
| Operating profit (loss) | 9901 | €4,397 | €13,884 | +€9,487 | +216% |
| Financial income | 75/76B | €553 | €1,083 | +€530 | +95.9% |
| Recurring financial income | 75 | €553 | €1,083 | +€530 | +95.9% |
| Financial charges | 65/66B | €216 | €4,175 | +€3,958 | +1,829% |
| Recurring financial charges | 65 | €216 | €4,175 | +€3,958 | +1,829% |
| Profit (loss) for the period before taxes | 9903 | €4,733 | €10,792 | +€6,058 | +128% |
| Income taxes | 67/77 | €1,226 | €3,183 | +€1,957 | +160% |
| Profit (loss) for the period | 9904 | €3,507 | €7,609 | +€4,102 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €3,507 | €7,609 | +€4,102 | +117% |
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 20 October 2026 via checked.be.