Koen Wagemans: 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 Wagemans
Largest movements
- Cash -€28,646
down €28,646 (-80.9%), from €35,428 to €6,782
mainly Tax, wage and social debts (-€16,755) and Trade debts (-€14,447)
- Tangible fixed assets -€724
down €724 (-22.8%), from €3,171 to €2,447
- Receivables within one year -€671
no longer reported in 2025 (was €671)
- Tax, wage and social debts -€16,755
down €16,755 (-87.2%), from €19,207 to €2,452
of which Taxes: -€13,255
- Trade debts -€14,447
no longer reported in 2025 (was €14,447)
- Other debts +€2,974
new in 2025: €2,974
- Profit (loss) carried forward -€1,813
new in 2025: -€1,813
- Gross operating margin -€9,444
down €9,444, from €8,470 to -€974
- Taxes -€2,477
no longer reported in 2025 (was €2,477)
- Depreciation +€274
up €274 (+60.9%), from €450 to €724
- Financial charges +€88
up €88 (+327%), from €27 to €115
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 | €39,270 | €9,229 | -€30,041 | -76.5% |
| Fixed assets | 21/28 | €3,171 | €2,447 | -€724 | -22.8% |
| Tangible fixed assets | 22/27 | €3,171 | €2,447 | -€724 | -22.8% |
| Plant, machinery and equipment | 23 | €3,171 | €2,447 | -€724 | -22.8% |
| Current assets | 29/58 | €36,099 | €6,782 | -€29,317 | -81.2% |
| Amounts receivable within one year | 40/41 | €671 | - | -€671 | |
| Other amounts receivable | 41 | €671 | - | -€671 | |
| Cash at bank and in hand | 54/58 | €35,428 | €6,782 | -€28,646 | -80.9% |
| Total equity and liabilities | 10/49 | €39,270 | €9,229 | -€30,041 | -76.5% |
| Equity | 10/15 | €5,616 | €3,803 | -€1,813 | -32.3% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €5,516 | €5,516 | = | 0.0% |
| Distributable reserves | 133 | €5,516 | €5,516 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,813 | -€1,813 | |
| Amounts payable | 17/49 | €33,654 | €5,426 | -€28,228 | -83.9% |
| Amounts payable within one year | 42/48 | €33,654 | €5,426 | -€28,228 | -83.9% |
| Trade debts | 44 | €14,447 | - | -€14,447 | |
| Suppliers | 440/4 | €14,447 | - | -€14,447 | |
| Taxes, remuneration and social security | 45 | €19,207 | €2,452 | -€16,755 | -87.2% |
| Taxes | 450/3 | €15,707 | €2,452 | -€13,255 | -84.4% |
| Remuneration and social security | 454/9 | €3,500 | - | -€3,500 | |
| Other amounts payable | 47/48 | - | €2,974 | +€2,974 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €450 | €724 | +€274 | +60.9% |
| Gross operating margin | 9900 | €8,470 | -€974 | -€9,444 | |
| Operating profit (loss) | 9901 | €8,020 | -€1,698 | -€9,718 | |
| Financial charges | 65/66B | €27 | €115 | +€88 | +327% |
| Recurring financial charges | 65 | €27 | €115 | +€88 | +327% |
| Profit (loss) for the period before taxes | 9903 | €7,993 | -€1,813 | -€9,807 | |
| Income taxes | 67/77 | €2,477 | - | -€2,477 | |
| Profit (loss) for the period | 9904 | €5,516 | -€1,813 | -€7,329 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,516 | -€1,813 | -€7,329 |
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 28 October 2026 via checked.be.