KOEN VAN DEN BERGH: 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 VAN DEN BERGH
Largest movements
- Current investments -€887,855
down €887,855 (-65.0%), from €1.4m to €477,993
- Tangible fixed assets +€578,158
up €578,158 (+20.8%), from €2.8m to €3.4m
of which Land and buildings: +€576,893
- Cash +€453,527
up €453,527 (+89.1%), from €509,187 to €962,715
mainly Current investments (+€887,855) and Net result for the year (+€356,806)
- Reserves +€196,806
up €196,806 (+2.1%), from €9.2m to €9.4m
of which Distributable reserves: +€203,791
- Debts after one year -€130,931
down €130,931 (-9.2%), from €1.4m to €1.3m
- Gross operating margin +€73,884
up €73,884 (+273%), from €27,079 to €100,962
- Depreciation -€56,450
down €56,450 (-41.8%), from €135,027 to €78,577
- Taxes +€9,178
up €9,178 (+29.1%), from €31,553 to €40,731
- Other operating charges +€6,895
up €6,895 (+107%), from €6,424 to €13,320
- Financial charges +€6,602
up €6,602 (+11.7%), from €56,344 to €62,946
of which Financial charges: +€7,572
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 | €10,921,490 | €11,064,856 | +€143,366 | +1.3% |
| Fixed assets | 21/28 | €8,851,221 | €9,425,929 | +€574,708 | +6.5% |
| Tangible fixed assets | 22/27 | €2,780,891 | €3,359,049 | +€578,158 | +20.8% |
| Land and buildings | 22 | €2,479,071 | €3,055,964 | +€576,893 | +23.3% |
| Plant, machinery and equipment | 23 | €12,251 | €287,674 | +€275,424 | +2,248% |
| Furniture and vehicles | 24 | €18,729 | €15,411 | -€3,319 | -17.7% |
| Assets under construction and advance payments | 27 | €270,840 | €0 | -€270,840 | -100% |
| Financial fixed assets | 28 | €6,070,330 | €6,066,880 | -€3,450 | -0.1% |
| Current assets | 29/58 | €2,070,269 | €1,638,926 | -€431,343 | -20.8% |
| Stocks and contracts in progress | 3 | €55,000 | €70,000 | +€15,000 | +27.3% |
| Stocks | 30/36 | €55,000 | €70,000 | +€15,000 | +27.3% |
| Amounts receivable within one year | 40/41 | €135,458 | €124,817 | -€10,641 | -7.9% |
| Trade receivables | 40 | €82,739 | €82,861 | +€122 | +0.1% |
| Other amounts receivable | 41 | €52,719 | €41,956 | -€10,763 | -20.4% |
| Current investments | 50/53 | €1,365,848 | €477,993 | -€887,855 | -65.0% |
| Cash at bank and in hand | 54/58 | €509,187 | €962,715 | +€453,527 | +89.1% |
| Deferred charges and accrued income | 490/1 | €4,776 | €3,402 | -€1,374 | -28.8% |
| Total equity and liabilities | 10/49 | €10,921,490 | €11,064,856 | +€143,366 | +1.3% |
| Equity | 10/15 | €9,172,393 | €9,369,199 | +€196,806 | +2.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €9,159,993 | €9,356,799 | +€196,806 | +2.1% |
| Tax-exempt reserves | 132 | €159,224 | €152,238 | -€6,986 | -4.4% |
| Distributable reserves | 133 | €9,000,770 | €9,204,561 | +€203,791 | +2.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €158,044 | €151,140 | -€6,904 | -4.4% |
| Deferred taxes | 168 | €158,044 | €151,140 | -€6,904 | -4.4% |
| Amounts payable | 17/49 | €1,591,053 | €1,544,517 | -€46,536 | -2.9% |
| Amounts payable after more than one year | 17 | €1,415,780 | €1,284,849 | -€130,931 | -9.2% |
| Financial debts | 170/4 | €1,415,780 | €1,284,849 | -€130,931 | -9.2% |
| Amounts payable within one year | 42/48 | €174,701 | €259,127 | +€84,426 | +48.3% |
| Current portion of amounts payable after more than one year | 42 | €128,896 | €131,843 | +€2,947 | +2.3% |
| Trade debts | 44 | €7,128 | €13,856 | +€6,728 | +94.4% |
| Suppliers | 440/4 | €7,128 | €13,856 | +€6,728 | +94.4% |
| Taxes, remuneration and social security | 45 | €38,667 | €30,627 | -€8,040 | -20.8% |
| Taxes | 450/3 | €38,667 | €30,627 | -€8,040 | -20.8% |
| Other amounts payable | 47/48 | €10 | €82,801 | +€82,791 | +806,141% |
| Accrued charges and deferred income | 492/3 | €572 | €542 | -€31 | -5.4% |
| Non-recurring operating income | 76A | - | €18,256 | +€18,256 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,027 | €78,577 | -€56,450 | -41.8% |
| Other operating charges | 640/8 | €6,424 | €13,320 | +€6,895 | +107% |
| Gross operating margin | 9900 | €27,079 | €100,962 | +€73,884 | +273% |
| Operating profit (loss) | 9901 | -€114,373 | €9,066 | +€123,439 | |
| Financial income | 75/76B | €448,662 | €444,513 | -€4,149 | -0.9% |
| Recurring financial income | 75 | €448,662 | €444,513 | -€4,149 | -0.9% |
| Financial charges | 65/66B | €56,344 | €62,946 | +€6,602 | +11.7% |
| Recurring financial charges | 65 | €50,502 | €58,075 | +€7,572 | +15.0% |
| Non-recurring financial charges | 66B | €5,842 | €4,871 | -€971 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €277,945 | €390,633 | +€112,688 | +40.5% |
| Transfer from deferred taxes | 780 | €6,904 | €6,904 | = | 0.0% |
| Income taxes | 67/77 | €31,553 | €40,731 | +€9,178 | +29.1% |
| Profit (loss) for the period | 9904 | €253,296 | €356,806 | +€103,510 | +40.9% |
| Transfer from tax-exempt reserves | 789 | €6,986 | €6,986 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €260,281 | €363,791 | +€103,510 | +39.8% |
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 1 November 2026 via checked.be.