Koen Vandyck: 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 Vandyck
Largest movements
- Cash -€9,096
down €9,096 (-10.9%), from €83,387 to €74,290
mainly Net result for the year (-€5,099) and Deferred charges and accrued income (-€5,000)
- Deferred charges and accrued income +€5,000
up €5,000 (+1,016%), from €492 to €5,492
- Receivables within one year -€1,832
down €1,832 (-16.4%), from €11,150 to €9,318
of which Other amounts receivable: -€2,032
- Reserves -€5,099
down €5,099 (-6.4%), from €79,412 to €74,313
- Other debts -€4,494
down €4,494 (-40.0%), from €11,225 to €6,731
- Tax, wage and social debts +€2,797
up €2,797 (+64.3%), from €4,348 to €7,145
- Gross operating margin -€18,114
down €18,114, from €14,502 to -€3,612
- Taxes -€3,888
down €3,888 (-100%), from €3,888 to €0
- Depreciation +€179
up €179 (+26.8%), from €667 to €845
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 | €97,194 | €90,420 | -€6,774 | -7.0% |
| Fixed assets | 21/28 | €2,165 | €1,320 | -€845 | -39.0% |
| Tangible fixed assets | 22/27 | €2,165 | €1,320 | -€845 | -39.0% |
| Furniture and vehicles | 24 | €2,165 | €1,320 | -€845 | -39.0% |
| Current assets | 29/58 | €95,029 | €89,100 | -€5,929 | -6.2% |
| Amounts receivable within one year | 40/41 | €11,150 | €9,318 | -€1,832 | -16.4% |
| Trade receivables | 40 | €9,118 | €9,318 | +€199 | +2.2% |
| Other amounts receivable | 41 | €2,032 | €0 | -€2,032 | -100.0% |
| Cash at bank and in hand | 54/58 | €83,387 | €74,290 | -€9,096 | -10.9% |
| Deferred charges and accrued income | 490/1 | €492 | €5,492 | +€5,000 | +1,016% |
| Total equity and liabilities | 10/49 | €97,194 | €90,420 | -€6,774 | -7.0% |
| Equity | 10/15 | €81,412 | €76,313 | -€5,099 | -6.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €79,412 | €74,313 | -€5,099 | -6.4% |
| Distributable reserves | 133 | €79,412 | €74,313 | -€5,099 | -6.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €15,782 | €14,107 | -€1,675 | -10.6% |
| Amounts payable within one year | 42/48 | €15,782 | €14,107 | -€1,675 | -10.6% |
| Financial debts | 43 | - | €197 | +€197 | |
| Credit institutions | 430/8 | - | €197 | +€197 | |
| Trade debts | 44 | €209 | €34 | -€175 | -83.8% |
| Suppliers | 440/4 | €209 | €34 | -€175 | -83.8% |
| Taxes, remuneration and social security | 45 | €4,348 | €7,145 | +€2,797 | +64.3% |
| Taxes | 450/3 | €4,348 | €7,145 | +€2,797 | +64.3% |
| Other amounts payable | 47/48 | €11,225 | €6,731 | -€4,494 | -40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €667 | €845 | +€179 | +26.8% |
| Other operating charges | 640/8 | €484 | €499 | +€14 | +2.9% |
| Gross operating margin | 9900 | €14,502 | -€3,612 | -€18,114 | |
| Operating profit (loss) | 9901 | €13,351 | -€4,956 | -€18,307 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -95.8% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -95.8% |
| Financial charges | 65/66B | €267 | €143 | -€124 | -46.4% |
| Recurring financial charges | 65 | €267 | €143 | -€124 | -46.4% |
| Profit (loss) for the period before taxes | 9903 | €13,084 | -€5,099 | -€18,183 | |
| Income taxes | 67/77 | €3,888 | €0 | -€3,888 | -100% |
| Profit (loss) for the period | 9904 | €9,196 | -€5,099 | -€14,296 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,196 | -€5,099 | -€14,296 |
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 16 October 2026 via checked.be.