KOEN VAN TICHELT: 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 TICHELT
Largest movements
- Stocks and contracts -€19,880
down €19,880 (-44.0%), from €45,140 to €25,260
of which Contracts in progress: -€25,000
- Receivables within one year -€919
down €919 (-4.3%), from €21,172 to €20,253
of which Trade receivables: -€1,686
- Other debts -€9,225
down €9,225 (-91.8%), from €10,050 to €825
- Tax, wage and social debts -€6,668
down €6,668 (-50.7%), from €13,139 to €6,471
of which Remuneration and social security: -€6,548
- Profit (loss) carried forward -€2,304
down €2,304, from €0 to -€2,304
- Trade debts -€1,739
down €1,739 (-8.6%), from €20,136 to €18,397
- Gross operating margin -€13,463
down €13,463 (-19.5%), from €69,142 to €55,678
- Staff costs -€2,717
down €2,717 (-4.8%), from €56,762 to €54,045
- Taxes -€1,567
down €1,567 (-42.1%), from €3,723 to €2,156
- Depreciation -€1,308
no longer reported in 2025 (was €1,308)
- Other operating charges -€1,074
down €1,074 (-57.8%), from €1,857 to €783
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 | €75,338 | €55,403 | -€19,935 | -26.5% |
| Fixed assets | 21/28 | €600 | €600 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €74,738 | €54,803 | -€19,935 | -26.7% |
| Stocks and contracts in progress | 3 | €45,140 | €25,260 | -€19,880 | -44.0% |
| Stocks | 30/36 | €20,140 | €25,260 | +€5,120 | +25.4% |
| Contracts in progress | 37 | €25,000 | - | -€25,000 | |
| Amounts receivable within one year | 40/41 | €21,172 | €20,253 | -€919 | -4.3% |
| Trade receivables | 40 | €11,415 | €9,729 | -€1,686 | -14.8% |
| Other amounts receivable | 41 | €9,757 | €10,524 | +€767 | +7.9% |
| Cash at bank and in hand | 54/58 | €3,138 | €3,748 | +€610 | +19.4% |
| Deferred charges and accrued income | 490/1 | €5,289 | €5,543 | +€254 | +4.8% |
| Total equity and liabilities | 10/49 | €75,338 | €55,403 | -€19,935 | -26.5% |
| Equity | 10/15 | €32,013 | €29,710 | -€2,304 | -7.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,013 | €27,013 | = | 0.0% |
| Distributable reserves | 133 | €27,013 | €27,013 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€2,304 | -€2,304 | |
| Amounts payable | 17/49 | €43,325 | €25,694 | -€17,631 | -40.7% |
| Amounts payable within one year | 42/48 | €43,325 | €25,694 | -€17,631 | -40.7% |
| Trade debts | 44 | €20,136 | €18,397 | -€1,739 | -8.6% |
| Suppliers | 440/4 | €20,136 | €18,397 | -€1,739 | -8.6% |
| Taxes, remuneration and social security | 45 | €13,139 | €6,471 | -€6,668 | -50.7% |
| Taxes | 450/3 | €1,793 | €1,674 | -€119 | -6.6% |
| Remuneration and social security | 454/9 | €11,346 | €4,798 | -€6,548 | -57.7% |
| Other amounts payable | 47/48 | €10,050 | €825 | -€9,225 | -91.8% |
| Remuneration, social security and pensions | 62 | €56,762 | €54,045 | -€2,717 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,308 | - | -€1,308 | |
| Other operating charges | 640/8 | €1,857 | €783 | -€1,074 | -57.8% |
| Gross operating margin | 9900 | €69,142 | €55,678 | -€13,463 | -19.5% |
| Operating profit (loss) | 9901 | €9,215 | €850 | -€8,365 | -90.8% |
| Financial income | 75/76B | €79 | €8 | -€71 | -89.7% |
| Recurring financial income | 75 | €79 | €8 | -€71 | -89.7% |
| Financial charges | 65/66B | €1,281 | €1,005 | -€275 | -21.5% |
| Recurring financial charges | 65 | €1,281 | €1,005 | -€275 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €8,014 | -€147 | -€8,161 | |
| Income taxes | 67/77 | €3,723 | €2,156 | -€1,567 | -42.1% |
| Profit (loss) for the period | 9904 | €4,291 | -€2,304 | -€6,594 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,291 | -€2,304 | -€6,594 |
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 24 October 2026 via checked.be.