KOEN STEENHOUDT: what changed
KOEN STEENHOUDT
Largest movements
- Receivables after one year +€10,700
up €10,700 (+196%), from €5,450 to €16,150
- Tangible fixed assets -€7,194
down €7,194 (-56.8%), from €12,656 to €5,462
- Receivables within one year -€4,756
down €4,756 (-18.1%), from €26,332 to €21,576
of which Other amounts receivable: -€4,426
- Deferred charges and accrued income +€2,842
up €2,842 (+225%), from €1,260 to €4,102
- Cash -€2,169
down €2,169 (-15.0%), from €14,429 to €12,259
mainly Contributions, distributions and other (-€19,495) and Receivables after one year (-€10,700)
- Tax, wage and social debts +€4,381
up €4,381 (+25.7%), from €17,075 to €21,456
- Trade debts -€2,569
down €2,569 (-30.0%), from €8,561 to €5,992
- Reserves -€1,937
down €1,937 (-3.4%), from €57,676 to €55,739
of which Distributable reserves: -€1,937
- Gross operating margin +€4,024
up €4,024 (+12.9%), from €31,211 to €35,235
- Taxes +€1,496
up €1,496 (+19.4%), from €7,716 to €9,211
- Other operating charges -€1,053
down €1,053 (-42.8%), from €2,461 to €1,408
- Depreciation +€1,009
up €1,009 (+16.3%), from €6,185 to €7,194
- Financial income +€642
up €642 (+288%), from €223 to €865
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €89,969 | €89,387 | -€582 | -0.6% |
| Fixed assets | 21/28 | €13,406 | €6,212 | -€7,194 | -53.7% |
| Tangible fixed assets | 22/27 | €12,656 | €5,462 | -€7,194 | -56.8% |
| Furniture and vehicles | 24 | €12,656 | €5,462 | -€7,194 | -56.8% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €76,563 | €83,175 | +€6,611 | +8.6% |
| Amounts receivable after more than one year | 29 | €5,450 | €16,150 | +€10,700 | +196% |
| Other amounts receivable | 291 | €5,450 | €16,150 | +€10,700 | +196% |
| Amounts receivable within one year | 40/41 | €26,332 | €21,576 | -€4,756 | -18.1% |
| Trade receivables | 40 | €12,471 | €12,141 | -€330 | -2.6% |
| Other amounts receivable | 41 | €13,861 | €9,435 | -€4,426 | -31.9% |
| Current investments | 50/53 | €29,092 | €29,087 | -€5 | 0.0% |
| Cash at bank and in hand | 54/58 | €14,429 | €12,259 | -€2,169 | -15.0% |
| Deferred charges and accrued income | 490/1 | €1,260 | €4,102 | +€2,842 | +225% |
| Total equity and liabilities | 10/49 | €89,969 | €89,387 | -€582 | -0.6% |
| Equity | 10/15 | €63,876 | €61,939 | -€1,937 | -3.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €57,676 | €55,739 | -€1,937 | -3.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €55,816 | €53,879 | -€1,937 | -3.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €26,093 | €27,447 | +€1,355 | +5.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €26,093 | €27,447 | +€1,355 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €457 | €0 | -€457 | -100% |
| Trade debts | 44 | €8,561 | €5,992 | -€2,569 | -30.0% |
| Suppliers | 440/4 | €8,561 | €5,992 | -€2,569 | -30.0% |
| Taxes, remuneration and social security | 45 | €17,075 | €21,456 | +€4,381 | +25.7% |
| Taxes | 450/3 | €17,075 | €21,456 | +€4,381 | +25.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,185 | €7,194 | +€1,009 | +16.3% |
| Other operating charges | 640/8 | €2,461 | €1,408 | -€1,053 | -42.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €31,211 | €35,235 | +€4,024 | +12.9% |
| Operating profit (loss) | 9901 | €22,565 | €26,633 | +€4,068 | +18.0% |
| Financial income | 75/76B | €223 | €865 | +€642 | +288% |
| Recurring financial income | 75 | €223 | €865 | +€642 | +288% |
| Financial charges | 65/66B | €1,090 | €729 | -€361 | -33.1% |
| Recurring financial charges | 65 | €1,090 | €729 | -€361 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €21,698 | €26,769 | +€5,072 | +23.4% |
| Income taxes | 67/77 | €7,716 | €9,211 | +€1,496 | +19.4% |
| Profit (loss) for the period | 9904 | €13,982 | €17,558 | +€3,576 | +25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,982 | €17,558 | +€3,576 | +25.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.