KOENH: what changed
Two fiscal 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.
KOENH
Largest movements
- Receivables after one year +€150,000
new in 2025: €150,000
- Current investments -€19,562
down €19,562 (-16.2%), from €121,111 to €101,549
- Deferred charges and accrued income +€5,374
up €5,374 (+381.4%), from €1,409 to €6,783
- Tangible fixed assets -€5,340
down €5,340 (-87.7%), from €6,092 to €752
- Reserves +€153,381
up €153,381 (+70.8%), from €216,706 to €370,087
- Tax, wage and social debts -€25,537
down €25,537 (-72.7%), from €35,143 to €9,605
- Gross operating margin +€45,002
up €45,002 (+28.2%), from €159,464 to €204,466
- Taxes +€11,231
up €11,231 (+32.1%), from €35,025 to €46,256
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.
Cash bridge derived
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 | €258,565 | €386,885 | +€128,320 | +49.6% |
| Fixed assets | 21/28 | €6,092 | €752 | -€5,340 | -87.7% |
| Tangible fixed assets | 22/27 | €6,092 | €752 | -€5,340 | -87.7% |
| Furniture and vehicles | 24 | €6,092 | €752 | -€5,340 | -87.7% |
| Current assets | 29/58 | €252,474 | €386,133 | +€133,659 | +52.9% |
| Amounts receivable after more than one year | 29 | - | €150,000 | +€150,000 | |
| Trade receivables | 290 | - | €150,000 | +€150,000 | |
| Amounts receivable within one year | 40/41 | €27,861 | €28,028 | +€167 | +0.6% |
| Trade receivables | 40 | €26,726 | €22,884 | -€3,842 | -14.4% |
| Other amounts receivable | 41 | €1,135 | €5,144 | +€4,009 | +353.1% |
| Current investments | 50/53 | €121,111 | €101,549 | -€19,562 | -16.2% |
| Cash at bank and in hand | 54/58 | €102,093 | €99,773 | -€2,319 | -2.3% |
| Deferred charges and accrued income | 490/1 | €1,409 | €6,783 | +€5,374 | +381.4% |
| Total equity and liabilities | 10/49 | €258,565 | €386,885 | +€128,320 | +49.6% |
| Equity | 10/15 | €221,706 | €375,087 | +€153,381 | +69.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €216,706 | €370,087 | +€153,381 | +70.8% |
| Distributable reserves | 133 | €216,706 | €370,087 | +€153,381 | +70.8% |
| Amounts payable | 17/49 | €36,859 | €11,798 | -€25,061 | -68.0% |
| Amounts payable within one year | 42/48 | €36,859 | €11,798 | -€25,061 | -68.0% |
| Trade debts | 44 | €1,716 | €2,192 | +€476 | +27.7% |
| Suppliers | 440/4 | €1,716 | €2,192 | +€476 | +27.7% |
| Taxes, remuneration and social security | 45 | €35,143 | €9,605 | -€25,537 | -72.7% |
| Taxes | 450/3 | €35,143 | €9,605 | -€25,537 | -72.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,340 | €5,340 | = | 0.0% |
| Other operating charges | 640/8 | €1,121 | €1,580 | +€458 | +40.9% |
| Gross operating margin | 9900 | €159,464 | €204,466 | +€45,002 | +28.2% |
| Operating profit (loss) | 9901 | €153,003 | €197,547 | +€44,544 | +29.1% |
| Financial income | 75/76B | €1,176 | €2,687 | +€1,511 | +128.4% |
| Recurring financial income | 75 | €65 | €2,583 | +€2,518 | +3873.1% |
| Non-recurring financial income | 76B | €1,111 | €103 | -€1,008 | -90.7% |
| Financial charges | 65/66B | €44 | €597 | +€553 | +1271.5% |
| Recurring financial charges | 65 | €44 | €40 | -€3 | -7.1% |
| Non-recurring financial charges | 66B | - | €556 | +€556 | |
| Profit (loss) for the period before taxes | 9903 | €154,136 | €199,637 | +€45,501 | +29.5% |
| Income taxes | 67/77 | €35,025 | €46,256 | +€11,231 | +32.1% |
| Profit (loss) for the period | 9904 | €119,111 | €153,381 | +€34,270 | +28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €119,111 | €153,381 | +€34,270 | +28.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.